Asset Allocation
We believe that the portfolio policy determines long-term portfolio performance. Because we believe in the importance of the strategic allocation, we reject managers who do not have clearly defined philosophies or who diverge from their stated policies. Because we do not believe in market timing, we reject sector rotators.

We believe in maintaining a strategic allocation and only infrequently revise that allocation. We believe in rebalancing to the strategic allocation. However, the influence of taxes and transaction costs leads us to conclude that contingent rebalancing with fairly wide bands is the most appropriate solution.

Time Diversification
We believe that the relative risk of increasing equity exposure decreases as the time horizon of the goal increases. We do not believe that any investment should be made for a goal with less than a five-year time horizon. Funds required in fewer than five years should be placed in money markets or fixed income securities with maturity dates equal to or less than the goal's time horizons.

Implementation
We have experts that we include on your team to help implement your Wealth Partnership Solution.

Managers
We believe that professional money managers generate results far superior to a client's or wealth manager's direct security selection and management. For that reason, we advise and implement a portfolio strategy plan with, and for you. We focus on allocating assets based on your circumstances, needs and objectives. We choose, on behalf of you, from among professionally managed products and constantly monitor the performance of those funds.

Managers are selected and evaluated on their philosophies, processes and people. Once selected, a manager should be allowed periods of poor performance if he or she remains consistent in philosophy and process. A manager should be replaced immediately if implementation strays significantly from the stated philosophy or process.

Ongoing Management
There should be regular review of your situation to determine if you are moving in the direction of achieving your goals. This includes revisions in strategic allocations as a result of the revised assumptions or changing circumstances or goals. We work with you, continuing to educate you while remaining sensitive to the volatility of people's expectations. It is our responsibility to assure that you 'stay the course' and do so with a minimum of emotional pain or anxiety. The focus is always on you and the achievement of your goals, not the performance of the portfolio.

In turn, there are a few things we need you to do to keep this relationship viable...

Your Role and Responsibilities

As with any relationship, each person has certain roles and responsibilities. All we ask is that you keep communication and information flowing.