Account Options

Since the needs of our clients vary according to their personal circumstances, we offer two portfolio
configuration options:

Capital Appreciation Portfolios:

Designed for investors whose primary objective is conservative growth. Income is not a primary consideration. These portfolios are particularly well suited for value-oriented investors seeking to maximize their retirement or long-term savings, and who have over 10 years until retirement or anticipated capital withdrawals. This strategy selects companies with strong internal growth characteristics and a history of success. These firms are typically market leaders in their core business. While valuation is important, the emphasis is on growth at a reasonable price. Investments may include:

• Predominantly small- to mid-cap stocks, with some large-cap stocks.
• Growth mutual funds, including capital appreciation opportunities in sector funds.
• International stocks (ADRs), including emerging markets.
• Defensive positions in precious metals stocks or bear market funds if conditions warrant.
• Money market funds or T-bills.

Value & Dividend Portfolios:

Designed for those who want a consistent and relatively high level of dividend income, as well as capital appreciation potential. This option is most suitable for conservative clients, who want more stable returns and a lower level of price volatility, or retired investors seeking current income from their portfolio. This strategy identifies quality companies that are undervalued or temporarily out of favor, but offer solid earnings and attractive dividend yields. Investments may include:

• Predominantly mid-cap and large-cap stocks, with some small-cap stocks.
• Growth & income and equity income mutual funds, with some sector funds.
• International stocks (ADRs).
• Defensive positions in precious metals stocks or bear market funds if conditions warrant.
• Other income investments, including corporate or Treasury bonds, REITs and CDs.
• Money market funds or T-bills.