This is a time of the year when some people are reflective and consider actions for which they are sorry about. While we are certainly not perfect, we as a firm have philosophies and principles for which we are NOT sorry.
1. We are not sorry that we always act in our clients’ best interest.
2. We are not sorry that we have a consistent and disciplined investment strategy, which is logical, understandable and has worked over the long-term.
3. We are not sorry that we do not recommend hedge funds. They are very expensive, not transparent and generally do not have good track records at beating their respective benchmarks.
4. We are not sorry that we review our clients’ accounts throughout the year for rebalancing and tax loss harvesting opportunities. We are not sorry that we don’t do these things only at the end of the year.
5. We are not sorry that we continually strive to minimize our clients’ taxes, by utilizing tax-managed stock funds when possible and by placing certain funds that tend to generate more taxable income or ordinary dividends, like real estate funds, into tax deferred accounts (like IRAs).
6. We are not sorry that we recommend very low cost investments, while not giving up performance.
7. We are not sorry that we are fee-only advisors. We are not sorry that we do not recommend mutual funds with either front or back end fees.
8. We are not sorry that we are skilled in estate planning concepts, so we can have important planning discussions with our clients that extend beyond just investment planning and advice.
9. We are not sorry that we do not try to time the stock market, as we think this is an impossible thing to do successfully over a long period of time.
10. We are not sorry that we are continual learners, voracious readers and invest in ourselves. We spend significant time talking and meeting with peer advisors, as well as attend investment and other types of conferences and seminars, so that we can be more knowledgeable and better advisors.