Gould Guiding Principles
Our approach to investment management is based on a set of principles, developed and refined through decades of real-world experience.
Sound Investment Practice
- Our investment strategies are firmly grounded in both theory and practice, and designed to provide enduring value over a wide range of economic and market environments.
- Our portfolio implementation is highly disciplined. We see this as a key to long-term success.
- Asset allocation is the single most important decision in properly balancing our clients’ return objectives with their tolerance for risk. Security selection, while important, is a secondary priority.
- Risk management is our top priority.
- Clients should be well compensated for investment risk. We seek the best available tradeoff between risk and return, sometimes called risk-adjusted return.
- Diversification is central to managing portfolio risk. Each of our investment strategies incorporates meaningful diversification. Where practical, we advocate diversification across investment strategies, as well.
Controlling Costs and Taxes
- Costs have major impact on investment performance. We seek the most cost-effective way to achieve our clients’ goals.
- Taxes have major impact on investment performance. We make all reasonable efforts to enhance after- tax portfolio return.
- Index funds are often the most cost-effective and tax-efficient vehicles for constructing a portfolio.
Direct and Fair
- Clear communication of appropriate expectations forms the foundation of a successful long-term relationship between advisor and client.
- Asset-based compensation aligns our interests with those of our clients.
- The interests of the client always come first.