Morningstar Investment Services
|
|
- Elvin Moore
- 5 years ago
- Views:
Transcription
1 Morningstar Core Managed Portfolios Investment Services Peter Dugery Senior Vice President, National Sales Morningstar Investment Services August 21 st, 2012 For financial professional use only Morningstar Investment Services, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc. All other marks are the property of the respective owners. Morningstar Investment Services, Inc. is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. The information contained in this presentation is the proprietary material of Morningstar Investment Services. Reproduction, transcription or other use, by any means, in whole or in part, without the prior written consent of Morningstar Investment Services is prohibited.
2 Agenda Why Managed Money? Current Landscape Your Practice and Our Core Morningstar Managed Portfolios Platform Demonstration and Roadmap to Take Action
3 Why Managed Money for your Clients? Third-party managers are independent, bringing objectivity and investment discipline to the table They remove as much emotion as possible from the process They can bring greater transparency and contribute positively to a client/advisor relationship built on trust Economies of scale reduce costs of portfolio management, improve access to investments They can utilize institutional-level risk and volatility management controls
4 Why Managed Money for your Practice? Third-party managers can: Save you time and worry by allowing you to focus more time on planning for clients Help you build a repeatable investment experience for your clients Help you to differentiate yourself in a more meaningful way Enable you to focus on your biggest revenue-generating activities Deliver a smoother, higher-value succession plan
5 Five Points on the Current Landscape Evolutionary shift to Fee Based/Managed Accounts is continuing Attracting Competition Need for Product Differentiation Open Architecture ETF s as Growth Driver
6 Morningstar: Independent. Experienced. Well Researched. Part of Morningstar s Investment Management division Morningstar, Inc: has been researching mutual fund, stock, and Exchange Traded Funds for over 25 years Leverage proprietary data, analytics Good stewards: Invest client assets like they are our own $185.5B 34 + yrs 2 patents Total Assets* Serving Clients** Human Capital and Asset Allocation with Annuities*** 6 *Data as of June 30, Includes Morningstar Associates, Ibbotson Associates, Morningstar Investment Services, OBSR, and Ibbotson Australia. ** Ibbotson Associates Inc. was established in Morningstar Associates was established in 1999 and Morningstar Investment Services, Inc. was established in ***Patent issued to Ibbotson Associates for Asset Allocation with Annuities in Patent issued to Ibbotson Associates for Human Capital in Morningstar s Investment Management division includes Morningstar Associates, LLC, Morningstar Investment Services, Inc., and Ibbotson Associates, Inc., all registered investment advisors and wholly owned subsidiaries of Morningstar, Inc. All investment advisory services described herein are provided by one or more of the U.S. registered investment advisor subsidiaries.
7 About Morningstar Investment Services Objective, independent approach Actively managed mutual fund, stock and ETF model portfolios Online platform including profiling tools, proposals, and statements Professional investment management You manage your clients and your business Let us worry about portfolio construction and manager/security selection 80+ years investment experience 7
8 Our Investment Team Jeffrey Ptak, CFA, CPA President and Chief Investment Officer University of Wisconsin, BS 18 years of financial industry experience John Owens, CFA, CPA Investment Manager Oklahoma State University, BS University of Texas, MBA 16 years of financial industry experience Marta Norton, CFA Investment Manager Wheaton College, BA 7 years of financial industry experience Sean Hynes, CFA Investment Manager University of Notre Dame, BS Carnegie Mellon University, MBA 8 years of financial industry experience Paul Gozali, CFA Director of Quantitative Analysis University of Iowa, BS University of Iowa, MBA 21 years of financial industry experience Venus Phillips Investment Manager Howard University, BBA University of Chicago, MBA 6 years of financial industry experience Sam Yan, CFA Quantitative Analyst Tsinghua University, BS University of Illinois, MS 12 years of financial industry experience 8
9 Our Philosophy We invest for the long term We are independent thinkers We employ a disciplined, consistent investment process We actively manage portfolios We are sensitive to costs and taxes We invest clients money as if it were our own We communicate in a timely and candid fashion 9
10 Morningstar Investment Services: Core Holdings Independent research Long track record Mutual fund portfolios launched in 2001 ETF portfolios launched in 2007 Utilize Morningstar, Inc. s extensive research Broadly diversified portfolios Use of alternatives 10
11 Creating Core Portfolios 11
12 Our Investment Process Our continual four-step process is designed to help the portfolios stay well-positioned through the market s up and downs 12
13 What Sets Us Apart? Portfolio construction Ibbotson Associates Incorporating alternatives Research GPA Boutique managers Risk-management Stressing risk-adjusted returns Using flexible managers Experience Decade-plus track record 13
14 Portfolio Construction: Ibbotson Associates Ibbotson Associates, a Morningstar, Inc. company, sets the strategic asset allocation of our diversified portfolios Methodology rooted in 30+ years of research and investment theory Asset allocation is critical in determining a portfolio s risk and return characteristics Ibbotson s use of alternatives in asset allocation is unique Efficient Frontier Asset Class Models Expected Returns Standard Deviation Covariance Asset Class Forecasts Determine an efficient mix: mean-variance optimization Create asset class recommendations 14
15 Research: Rigorous, Independent We do our own work Draw on decades of experience researching managers Leverage proprietary data, analytics, grading system Look beyond the stars, style box The world is our oyster Use any fund available to us No select list From our base in Chicago, our investment team travels across the country, meeting with each manager in person. 15
16 Fund Selection: GPA Fund Evaluation System 16
17 Research: GPA Report Examines five critical factors: Process Performance People Price Parent Performance and price grades updated monthly Qualitative factors monitored, adjusted on an ongoing basis React to events, not calendar GPA Report Excerpt Source: Morningstar Investment Services, Inc. For illustrative purposes only; past performance is not a guarantee of future results. Should not be viewed as a recommendation buy or sell the mentioned securities. 17
18 Research: Using Boutique Managers 18 For illustrative purposes only. Morningstar Investment Services is not affiliated with companies shown.
19 Risk-Management: Built Into Our Process Disciplined Asset Allocation Rigorous Fund Evaluation and Selection Cohesive Portfolio Construction Continuous Risk Management Strategic Allocation Long-term risk/return profile Diversify across asset classes Quantitative Analysis Performance analysis Risk metrics Portfolio Level Holdings-based analysis Manage to target risk Monitor fund overlap Monitor Managers Portfolio positioning Risk factors Tactical Overlay Over/underweight relative to strategic allocation Qualitative Due Diligence Interview managers Peruse SEC filings Hold on-site visits Fund Level Tailor fund to strategy Contribution to portfolio risk and expenses Adjust Rebalance accounts Top-down adjustments Fund specific changes Evaluate fund company stewardship 19
20 Our Mutual Fund Portfolios Our Core Mutual Fund Portfolios 20
21 Core Portfolios: Diversified Mutual Fund Portfolios Diversified mutual-fund portfolios Invests in actively-managed funds Well suited to anchor core of a portfolio Pair well with specialized strategies Conservative Income & Growth Moderate Growth Growth Aggressive Growth 21
22 Asset Allocation of Our Retirement Income Portfolios Ultra Short Short-Range Mid-Range Long-Range Targeted Payout 7% 6% 5% 4% Time Horizon 1 5 years 2 10 years years 20+years Probability of Principal Preservation Probability of Principal Depletion 2.1% 9.9% 17.3% 36% 0.1% 0.1% 0.4% 0.8% Monte Carlo Analysis, 95% Confidence Interval with payouts adjusted for inflation. 22
23 Diversification: Retirement Income s Asset Allocation Stocks Growth Engine Domestic Small Caps Domestic Large Caps International Emerging Bonds Income Producer Investment-grade High-yield Non-U.S. Inflation-protected Alternatives Volatility Dampener Commodities Real estate Long/Short funds Arbitrage strategies 23
24 The Ibbotson Active/Passive Series Focus on fees Note that the passive portion of a portfolio may be invested in a combination of indexed mutual funds and ETFs, or simply indexed mutual funds, depending on custodial arrangement. For illustration purposes, we have grouped the sub-asset allocations together, showing only the six broad asset classes above. Weightings are subject to change. All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Diversification does not assure a profit or protect against a loss in a declining market.
25 Our Diversified ETF Portfolios 25
26 The Case for Our ETF Portfolios Wide diversification Ibbotson Low cost Internal model expenses: 0.15% % Benefits of active, passive management Core-and-explore format Disciplined, methodical approach Leverage Morningstar s research Conservative Income & Growth Moderate Growth Growth Aggressive Growth 26
27 Core and Explore Approach Core Broadly diversified ETFs Passive and low cost Track asset classes in strategic asset allocation Explore + ETFs that track narrower segments (style, sector, region, etc.) Selection based on proprietary rating methodology Aim to add value over index 27
28 Tactical Decision-Making 28
29 Select Stock Baskets 29
30 Our Select Stock Baskets Custom Series at a Glance Customized portfolio of individual equities 25 to 35 of our highest conviction stock ideas Tailored to a client s needs Restrict sector, industry, or individual stock exposures Combine with a portfolio of fixed-income mutual funds or ETFs (80/20, 65/35, 50/50) Accommodate current holdings* Transfer existing holdings Portfolio can be built around client s other holdings Actively managed to achieve added value Buy and sell discipline Optimal balance of risk and reward Mindful of tax and cost implications *Initial and subsequent funding in the client s account may be in cash, and/or transfer of positions currently held including common stocks, ETFs and mutual funds; due to liquidity restrictions and trading constraints, any position that is transferred in my be rejected and required to be remove from the account. For Illustrative Purposes only. Data and information is subject to change at anytime without notice. 30
31 Select Stock Baskets Custom Series Broad Market Global Equity Composite Style Equity Income Capital Appreciation Foreign Market Capitalization Foreign Equity Small+Mid-Cap Equity You can elect further customization $250,000 account minimum 31
32 Select Stock Baskets Strategist Series Select Stock Basket strategies to choose from The Tortoise Portfolio The Hare Portfolio The Dividend Portfolio These three are patterned after Morningstar, Inc. s popular monthly newsletters Morningstar StockInvestor Morningstar DividendInvestor Account minimums All Equity - $100,000 With Fixed Income (80/20, 65/35, 50/50) - $250, For illustrative purposes only. There is no guarantee that the Select Stock Basket Strategist Series will perform as the portfolios after which they were patterned. *Please note that portfolio availability may vary based on business relationships
33 Mutual Fund Portfolios - Fee Structure Maximum Fee Schedule Mutual Fund Portfolios Up to $500,000 Next $500,000 Next $1MM Over $2MM Morningstar Investment Services* 0.40% 0.35% 0.30% 0.20% Advisory Firm ** 1.10% 1.05% 1.00% 0.90% Total Annual Fee 1.50% 1.40% 1.30% 1.10% Account Minimum: $50,000 (lower in family plan) Minimum Exceptions: Enhanced Portfolio Service, $1MM Client fee does not include the mutual funds expenses Advisor fee can be discounted in 5 bps increments *MIS Minimum Annual Fee is $200 for those accounts not held at PFPC. **Please note that fees may vary based on business relationships.
34 ETF Portfolios- Fee Schedule Maximum Fee Schedule ETF Portfolios Up to $1MM Next $4MM Thereafter Morningstar Investment Services* 0.31% 0.25% 0.20% Advisory Firm ** 1.10% 1.10% 1.10% Total Annual Fee 1.41% 1.35% 1.30% $100,000 account minimum Client fee does not include the underlying ETF s expenses Client fee does not include costs associated with custody/clearing/execution Advisor fee can be discounted in 5 bps increments *MIS Minimum Annual Fee is $200 for those accounts not held at PFPC. **Please note that fees may vary based on business relationships.
35 Stock Baskets - Fee Structure Select Stock Baskets Up to $1MM Next $4MM Thereafter Morningstar Investment Services* 0.55% 0.50% 0.45% Advisory Firm ** 1.10% 1.10% 1.10% Total Annual Fee 1.65% 1.60% 1.55% Account minimums: $100,000 Strategist Series, $250,000 Custom Series Client fee does not include costs associated with custody/clearing/execution Advisor fee can be discounted in 5 bps increments *MIS Minimum Annual Fee is $550 for Strategist Series and $1375 for Custom Series. **Please note that fees may vary based on business relationships.
36 Why Morningstar Investment Services? Our focus Help fee-based, independent advisors grow their practices Our experience 10-plus years We work with thousands of advisors like you Our reputation Clients first Independence, objectivity 36
37 Morningstar Investment Services Sales Team General Information Internal Service Representatives Peter Dugery National Director 37
38 Appendix: Disclosures The information, data, analyses and opinions presented herein do not constitute investment advice; are provided solely for informational purposes and therefore are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. The opinions expressed are as of the date written and are subject to change without notice. Except as otherwise required by law, Morningstar Investment Services shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses or opinions or their use. Past performance is not a guarantee of future results. The information contained herein is the proprietary property of Morningstar Investment Services and may not be reproduced, in whole or in part, or used in any manner, without the prior written consent of Morningstar Investment Services Morningstar Investment Services, Inc. All rights reserved. Morningstar Investment Services is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. The Morningstar name and logo are registered marks of Morningstar, Inc. Ibbotson Associates is a registered investment advisor and wholly-owned subsidiary of Morningstar and serves as a sub-advisor to the Morningstar Managed Portfolios program. 38
39 Appendix: Performance Metrics Definitions Standard Deviation measures an investment s volatility or range of outcomes. The total returns of any given investment are expected to be within one standard deviation from its mean return about 68% of the time and within two standard deviations from the mean 95% of the time. Sharpe Ratio measures return per unit of risk. Equal to excess return (average monthly return less average monthly return of 90-day Treasury bill) divided by standard deviation. Downside Capture is the percentage of the return of the benchmark the investment captured when the selected benchmark had a negative return. For example, if the selected benchmark had a -10% return and the investment had 25% downside capture, it would have returned -2.5% during that down period. Beta is a measure of an investment s sensitivity to market movements. A low beta implies that an investment s market related risk is low. Alpha measures a fund s actual returns and its expected performance, given its level of risk (as measured by beta). A positive alpha figure indicates the fund has performed better than its beta predicted. Performance: Imposition of advisory fees and other expenses incurred in the management of an account would cause actual performance to be lower than the performance shown. For example, if the one-year performance before such fees was 10% and the account assessed an annual fee of 1.50% deducted quarterly, the fee would reduce the performance approximately 8.36% annually. Russell 3000 Index A market-capitalization weighted index that includes the 3,000 largest U.S. companies based on total market capitalization. 39
40
Managed Portfolios Morningstar Investment Services
Managed Portfolios Morningstar Investment Services Peter Dugery, SVP, National Sales and Distribution John Green, Regional Sales Director February, 2014 For Financial Advisor Use Only-Not for Use With
More informationNATIONWIDE ASSET ALLOCATION INVESTMENT PROCESS
Nationwide Funds A Nationwide White Paper NATIONWIDE ASSET ALLOCATION INVESTMENT PROCESS May 2017 INTRODUCTION In the market decline of 2008, the S&P 500 Index lost more than 37%, numerous equity strategies
More informationMorningstar. Managed PortfoliosSM. Mutual Fund Portfolios. ETF Portfolios. Select Stock Baskets
Morningstar Managed PortfoliosSM Mutual Fund Portfolios ETF Portfolios Select Stock Baskets A Team You Can Trust The Insight of Your Financial Advisor, The Strength of Morningstar At Morningstar Investment
More informationMorningstar Investment Services. Asset Allocation Solutions
Morningstar Investment Services Asset Allocation Solutions A Team You Can Trust The Insight of Your Financial Advisor, The Strength of Morningstar At Morningstar Investment Services, we understand there
More informationMorningstar Investment Services
Morninstar Investment Services Peter Duery, SVP National Sales and Distribution For Financial Advisor Use Only-Not for Use With the Public. This presentation is not complete without accompanyin disclosures.
More informationMorningstar Investment Services Managed Portfolios
Morningstar Investment Services Managed Portfolios Mutual Fund Portfolios ETF Portfolios Select Stock Baskets A Team You Can Trust The Insight of Your Financial Advisor, The Strength of Morningstar At
More informationFortigent Alternative Investment Strategies Model Wealth Portfolios Fortigent, LLC.
Fortigent Alternative Investment Strategies Model Wealth Portfolios Important Disclaimers The information provided is for educational purposes only and is not intended to be, and should not be construed
More informationNext Generation Fund of Funds Optimization
Next Generation Fund of Funds Optimization Tom Idzorek, CFA Global Chief Investment Officer March 16, 2012 2012 Morningstar Associates, LLC. All rights reserved. Morningstar Associates is a registered
More information1607 GROUP AT MORGAN STANLEY
W E A L T H M A N A G E M E N T I. Overview TABLE OF CONTENTS: II. 1607 Portfolio III. 1607 Income Growth Portfolio IV. Investment Team WEALTH MANAGEMENT WEALTH MANAGEMENT O V E R V I E W Our Business:
More informationASSOCIATED INVESTMENT SERVICES, INC. 433 Main Street Green Bay, WI September 24, 2014
ASSOCIATED INVESTMENT SERVICES, INC. 433 Main Street Green Bay, WI 54301 800-595-7722 https://www.associatedbank.com/personal/invest/associated-investment-services-online September 24, 2014 This brochure
More informationAlpha, Beta, and Now Gamma
Alpha, Beta, and Now Gamma David Blanchett, CFA, CFP Head of Retirement Research Morningstar Investment Management 2012 Morningstar. All Rights Reserved. These materials are for information and/or illustration
More informationWe partner with independent investment advisors and offer full, direct access to our experienced portfolio management, sales, and service teams.
We believe in the value of investment advice and the power of using risk-managed balanced portfolios to enhance the investor experience. We believe that risk budgeting is the best approach to risk management.
More informationinvestment guide discipline We help protect and build wealth through a multiasset class approach.
ideas At Brinker Capital, we look beyond the traditional methods of investing to help grow real purchasing power for our clients over the long term. discipline We help protect and build wealth through
More informationInvestment Management Philosophy
Investment Management Philosophy Executive Overview The investment marketplace has grown increasingly complex and unpredictable for individual investors. This reality may make it difficult for many people
More informationPMS 2622 PMS % Blk PMS 390
at a glance THE CAMBRIDGE ASSET ALLOCATION PLATFORM (CAAP) ALLOWS YOU ACCESS TO THE BENEFITS OF ACCOUNTS MANAGED BY SOME OF THE WORLD S LEADING INVESTMENT PROFESSIONALS. USING A TIME-TESTED PROGRAM OF
More information2017 Kerns Capital Management, Inc. July 2017 Investor Presentation
July 2017 Investor Presentation Table of Contents 1. Executive Summary.............. 1.1 History.......... 1.2 Buy/Sell Discipline........ 2. Investment Strategy... 2.1 Assessment and Implementation 2.2
More informationMANAGED ACCOUNTS. Capital Directions. A guided approach to financial achievement
MANAGED ACCOUNTS Capital Directions A guided approach to financial achievement CAPITAL DIRECTIONS A UNIFIED MANAGED ACCOUNT THAT COMBINES FLEXIBILITY, SIMPLICITY, AND DISCIPLINE With a Capital Directions
More informationManaged Accounts. FTA/Morningstar Multi-Discipline 75/25 Strategy. First Quarter 2018
Managed Accounts FTA/Morningstar Multi-Discipline 75/25 Strategy First Quarter 2018 Firm Profile First Trust Advisors L.P./First Trust Portfolios L.P. Established in 1991; privately owned Over 700 employees
More informationExperienced investment management
BRINKER CAPITAL Experienced investment management 30 years of excellence in investment management Our time-tested and disciplined investment process Better outcomes through experience, consistency, and
More informationLIFETIME WEALTH PORTFOLIOS
LIFETIME WEALTH PORTFOLIOS LIFETIME WEALTH PORTFOLIOS Investment Philosophy BRINKER CAPITAL LIFETIME WEALTH PORTFOLIOS SM SUB-ADVISERS ARE PRE- SCREENED INVESTMENT EXPERTS PROVIDING MARKET INSIGHT, ANALYSIS
More informationNorthCoast ETF Portfolio Solutions
NorthCoast ETF Portfolio Solutions Investor Presentation NorthCoast Advisory Team info@northcoastam.com 800.274.5448 northcoastam.com Executive Summary PRESENTATION OVERVIEW Who is NorthCoast? What does
More informationIBM 401(k) Plus Plan. Individual Fund Flyer Conservative Fund
IBM 401(k) Plus Plan Individual Fund Flyer Conservative Fund This investment option is a unitized fund and not a mutual fund and as such is not registered with the Securities Exchange Commission (SEC).
More informationPortfolio Management Consultants Supporting Enterprises, Advisors, and their Clients
Portfolio Management Consultants Supporting Enterprises, Advisors, and their Clients Envestnet PMC is the ultimate advisor to the advisor. We offer an objective, unbiased approach to research, coupled
More informationMerrill Edge Select Portfolios. Portfolio management by Merrill Lynch
Merrill Edge Select Portfolios Portfolio management by Merrill Lynch Merrill Edge Select Portfolios As an individual investor, sorting through the multitude of available mutual funds and exchange-traded
More informationMotif Capital Horizon Models: A robust asset allocation framework
Motif Capital Horizon Models: A robust asset allocation framework Executive Summary By some estimates, over 93% of the variation in a portfolio s returns can be attributed to the allocation to broad asset
More informationSeparately Managed Accounts. Investment Advisory Solutions for Today s Complex Markets
Separately Managed Accounts Investment Advisory Solutions for Today s Complex Markets Contents Consulting Group Overview Resources The GIC and Global Investment Manager Analysis Separately Managed Accounts
More informationAttractive option for college saving
Tomorrow s Scholar 529 Age-Based Portfolios Attractive option for college saving... connecting to the future Not FDIC Insured May Lose Value No Bank Guarantee INVESTMENT MANAGEMENT Introduction The goal
More informationGUARDRAIL GROWTHSM WEALTH MANAGEMENT
GUARDRAIL GROWTHSM WEALTH MANAGEMENT ABOUT WEALTH & PENSION SERVICES GROUP With roots to 1997 as Kring Financial Management, Wealth & Pension Services Group has grown to be a leading independent Atlanta-based
More informationRisk averse. Patient.
Risk averse. Patient. Opportunistic. For discretionary use by investment professionals. Litman Gregory Portfolio Strategies at a Glance We employ tactical asset allocation by identifying undervalued asset
More informationForm ADV Part 2A: Firm Brochure Morningstar Investment Services LLC
Form ADV Part 2A: Firm Brochure Morningstar Investment Services LLC Page 1 of 11 Table of Contents Advisory Business 2 Fees and Compensation 4 Performance-Based Fees and Side-by-Side Management 5 Types
More informationFranklin K2 Alternative Strategies Fund
Franklin Templeton Investment Funds Franklin K2 Alternative Strategies Fund Alternatives Fund Profile Fund Details Inception Date 15 September 2014 Investment Style Alternatives Benchmark(s) 1 ICE BofAML
More informationMorningstar OBSR Managed Portfolios
Morningstar Investment Management Europe TM Morningstar OBSR Managed Portfolios High-quality discretionary portfolios built with investors needs in mind For Investment Adviser Use Only We leverage our
More informationSimple. Intelligent. Versatile.
SPONSORED BY M &T BANK Simple. Intelligent. Versatile. page 3 Portfolio Architect is a managed account program sponsored and managed by M&T Bank, with support from Wilmington Trust Investment Advisors,
More informationFundSource. Professionally managed, diversified mutual fund portfolios. A sophisticated approach to mutual fund investing
FundSource Professionally managed, diversified mutual fund portfolios Is this program right for you? FundSource is designed for investors who: Want a diversified portfolio of mutual funds that fits their
More informationA new direction in. Retirement Investing
A new direction in Retirement Investing Target date funds have been increasing in popularity since their introduction in the early 1990 s. The idea that an individual can make one simple choice and be
More informationNeuberger Berman Trust Company Peralta Community College District July 20, 2011
Neuberger Berman Trust Company Peralta Community College District July 20, 2011 NEUBERGER BERMAN TRUST COMPANY ( NBTC ) Comprehensive fiduciary and investment services for individuals and institutions
More informationThe Value of an Investment Process
The Value of an Investment Process Advance Capital Management, Inc. is an SEC registered investment adviser. Registration with the SEC does not imply any level of skill or training. THIS MATERIAL IS FOR
More informationInvesting in Small Cap Equities. Great Lakes Advisors
Investing in Small Cap Equities Great Lakes Advisors Information as of June 30, 2012 What is a Small Cap Stock? 2 Flagship Product Big Mac SuperSONIC Cheeseburger # Locations 31,000 3,561 # of employees
More informationHow We Work with Morningstar Investment Management LLC
How We Work with Morningstar Investment Management LLC 2016 Morningstar Investment Management LLC. All rights reserved. These materials are for information and/or illustration purposes only. Morningstar
More informationPEOPLE S SECURITIES, INC. DISCLOSURE BROCHURE
PEOPLE S SECURITIES, INC. DISCLOSURE BROCHURE Dated 09/29/2017 Contact: Brian Delman, Chief Compliance Officer 565 Fifth Avenue, 27th Floor New York, New York 10017 2466 646 971 2505 www.peoples.com/invest
More informationLITMAN/GREGORY. Investment Strategies
Investment Strategies For Client Use Investment Strategies Litman/Gregory Portfolios at a Glance Litman/Gregory s tactical asset allocation expertise helps identify undervalued asset classes and weights
More informationPortfolio Allocation Models. for Lincoln Financial Group s Variable Life Insurance Products
Portfolio Allocation Models for Lincoln Financial Group s Variable Life Insurance Products 40% (Conservative) Allocation Model M s Portfolio Allocation Models for Lincoln Financial Group s Variable Insurance
More informationTactical Growth ETF. Investor Presentation N ORTHC OAST I NVESTMENT A DVISORY T EAM NORTHCOASTAM. COM
Tactical Growth ETF Investor Presentation N ORTHC OAST I NVESTMENT A DVISORY T EAM 203.532.7000 INFO@ NORTHCOASTAM. COM NORTHCOAST ASSET MANAGEMENT An established leader in the field of tactical investment
More informationAlpha, Beta, and Now Gamma
Alpha, Beta, and Now Gamma Scott Mackenzie President & CEO Morningstar Canada 2013 Morningstar. All Rights Reserved. These materials are for information and/or illustrative purposes only. The Morningstar
More informationPassive target date funds: Separating myth from reality. Many active decisions go into passive fund design
Passive target date funds: Separating myth from reality Many active decisions go into passive fund design Executive summary John Greves, CFA Vice President, Head of Multi-Asset Strategies The use of passive
More informationGlobal ETF Portfolios
The Leaders In Pactive Management Richard Bernstein Advisors Global ETF Portfolios Richard Bernstein Advisors The Leaders In Pactive Management It is startling that so many investors focus on short-term
More informationPERSONAL WEALTH PORTFOLIOS. simplify. your life. With Investment Strategies
PERSONAL WEALTH PORTFOLIOS simplify your life With Investment Strategies The Personal Wealth Portfolios: Meeting Sophisticated Needs in a Single Account As an investor, your financial portfolio is more
More informationDestinations INVESTOR GUIDE. Multi-asset class solutions to meet a range of investor needs. Dynamic portfolios constructed from mutual funds
multi-asset class, dynamic portfolios are designed to deliver consistent returns over the long-term and help individuals stay invested. Risk-based portfolios INVESTOR GUIDE Income-focused portfolios CONSERVATIVE
More informationCOVERED CALL STRATEGY An enhanced income and low volatility approach to equities
COVERED CALL STRATEGY An enhanced income and low volatility approach to equities JULY, 2017 230 Park Avenue 10 th Floor Suite 61 New York, NY 10169 About us Founded in 1995, Griffin Asset Management, Inc.
More informationMODEL WEALTH PORTFOLIOS. focus on. your future. LPL Financial Research
focus on your future LPL Financial Research Your Strategic Partner: LPL Financial Research Our Approach Your investment strategist consists of seasoned and accomplished industry veterans, comprising one
More informationThe Beyer Stein Group at Morgan Stanley
BSG The Beyer Stein Group at Morgan Stanley Global Multi-Asset ETF Portfolio Management An Efficient Approach to a Diversified Investment Plan 522 Fifth Avenue 15th Floor, New York, NY 10036 212-296-1008
More informationDiversified Managed Allocations
Diversified Managed Allocations Multi-strategy portfolios with a focus on flexibility Is this program right for you? DMA is designed for investors who: Want experienced, professional money managers to
More informationQ U.S. Sector. (888)
Q4 2018 U.S. Sector www.westendadvisors.com info@westendadvisors.com (888) 500-9025 1 WestEnd Advisors Overview The cornerstone of our investment process is that the macroeconomic environment is a key
More informationq merrill edge guided investing strategy profile CIO Moderately Conservative ETF Core Tax Aware
Overview This Strategy seeks to provide diversified exposure among three major asset classes for a client's account with a moderately conservative target asset allocation. In normal market conditions,
More information2012 FOCUS Executive Leadership Conference Northern Focused Portfolios October 2 nd
N O R T H E R N T R U S T G L O B A L I N V E S T M E N T S 2012 FOCUS Executive Leadership Conference Northern Focused Portfolios October 2 nd Presented by: Melinda Mecca, Moderator Client Solutions Group
More informationTactical Income ETF. Investor Presentation N ORTHC OAST I NVESTMENT A DVISORY T EAM NORTHCOASTAM. COM
Tactical Income ETF Investor Presentation N ORTHC OAST I NVESTMENT A DVISORY T EAM 203.532.7000 INFO@ NORTHCOASTAM. COM NORTHCOAST ASSET MANAGEMENT An established leader in the field of tactical investment
More informationRetirement Distribution Income: Enhanced (MAP) Select UMA American Funds (Model Portfolio Provider)
American Funds (Model Portfolio Provider) 333 S Hope Street, 52ND Floor Los Angeles, California 90068 Style: Sub-Style: Firm AUM: Firm Strategy AUM: Global Multi Asset Global Multi Asset Income $1,706.1
More informationReshaping the Advisor-Client Experience
Reshaping the Advisor-Client Experience Investment advisory services provided by The Elements Financial Group, LLC ( TEG ). TEG is a registered investment advisor with the U.S. Securities and Exchange
More informationAdditional series available. Morningstar TM Rating. Funds in category
Sun Life Milestone 2035 Fund Series A $14.8651 Net asset value per security (NAVPS) as of February 12, 2018 $0.1080 0.73% Benchmark Blended benchmark Fund category 2035 Target Date Portfolio Additional
More informationFIRM BROCHURE Part 2A of Form ADV. VALIC Financial Advisors, Inc Allen Parkway, L3-20, Houston, Texas (866)
Item 1 Cover Page FIRM BROCHURE Part 2A of Form ADV VALIC Financial Advisors, Inc. 2929 Allen Parkway, L3-20, Houston, Texas 77019 (866) 544-4968 March 31, 2017 This brochure provides information about
More informationManning & Napier Investor Presentation June 2014
Manning & Napier Investor Presentation June 2014 The Manning & Napier Fund, Inc. is managed by Manning & Napier Advisors, LLC ( Manning & Napier ). Manning & Napier Investor Services, Inc. and affiliate
More informationNimbus 9 PORTFOLIO MANAGEMENT PORTFOLIO SPECIALISTS
Nimbus 9 STRATEGY HIGHLIGHTS Ticker: TRBCX CUSIP: 77954Q106 As of June 30, 2018 Total Large-Cap Growth Assets: $208.4 billion 2 Total Strategy Assets: 1 $84.5 billion 2 Total Fund Assets: $50.1 billion
More informationPortfolio Management & Analysis
Index Portfolio Monitor, Analysis and Maintenance Page 2 Portfolio Rebalancing Emotional Control Annual Performance Page 3 Detailed Analysis Page 4 Portfolio Risk Level Portfolio Management & Analysis
More informationADVISORY SERVICES - WRAP FEE PROGRAMS SEC Number: DISCLOSURE BROCHURE
ADVISORY SERVICES - WRAP FEE PROGRAMS SEC Number: 801-43561 AUGUST 15, 2016 DISCLOSURE BROCHURE This Brochure provides information about the qualifications and business practices of Century Securities
More informationUniversity of Maine System Investment Policy Statement Defined Contribution Retirement Plans
University of Maine System Investment Policy Statement Defined Contribution Retirement Plans As Updated at the December 8, 2016, Investment Committee Meeting Page 1 of 19 Table of Contents Section Statement
More informationMulti-Asset Income: Moderate Growth (MAP) Select UMA
J.P. Morgan Asset Management (Model Portfolio Provider) 270 Park Avenue New York, New York 10017 PRODUCT OVERVIEW Morgan Stanley Smith Barney LLC ("Morgan Stanley") is the Manager of this strategy. The
More informationFIXED INCOME PORTFOLIO
FIXED INCOME PORTFOLIO 1 IN TODAY S UNCERTAIN MARKETS, you re likely looking for a partner to meet your fixed income objectives. Let Innealta Capital work with you to cultivate your portfolio with our
More informationGlobal Multi Asset Global Tactical Asset Alloc $346.8 billion
Columbia (Model Portfolio Provider) 225 Franklin Street Boston, Massachusetts 02110 Style: Sub-Style: Firm AUM: Firm Strategy AUM: Global Multi Asset Global Tactical Asset Alloc $346.8 billion Year Founded:
More informationZacks All-Cap Core Fund
Zacks All-Cap Core Fund The Fund s primary investment objective is capital appreciation. The Fund s secondary objective is to provide shareholders with income through dividends. This mutual fund may be
More informationFranklin Templeton Investment Funds Franklin Templeton Global Allocation Fund
Franklin Templeton Investment Funds Franklin Templeton Global Allocation Fund Fund Details Inception Date 29 July 2011 Investment Style Benchmark(s) Asset Allocation 50% MSCI All Country World Index 35%
More informationFayez Sarofim & Co Large Cap Equity
Product Type: Separate Account Manager Headquarters: Houston, TX Total Staff: 90 Geography Focus: Domestic Year Founded: 1958 Investment Professionals: 20 Type of Portfolio: Equity Total AUM: $22,458 million
More informationDoes greater risk equal greater reward?
Does greater risk equal greater reward? The simple answer is not always, which is why investors may look at lower-volatility fund options like GuideStone s Defensive Market Strategies Fund. The Fund aims
More informationQ U.S. Sector. (888)
Q1 2018 U.S. Sector www.westendadvisors.com info@westendadvisors.com (888) 500-9025 1 WestEnd Advisors Overview The cornerstone of our investment process is that the macroeconomic environment is a key
More informationCore Asset Manager: A Tailored Investment Strategy
Core Asset Manager: A Tailored Investment Strategy CHRIS HART, Core Investment Manager Brinker Capital Inc., A Registered Investment Advisor For financial advisor use only. For financial professional use
More informationSMALL CAP VALUE EQUITY
SMALL CAP VALUE EQUITY 4Q16 Philosophy Mesirow Financial Equity Management offers institutional investment strategies focused exclusively on small cap value and small-mid cap value equities. We believe
More informationMorningstar Investment Management Manager Selection
Morningstar Investment Management Manager Selection The Morningstar Difference: Manager Selection Investment manager quality is a critical component of a portfolio s investment success. Poor choice of
More informationNorthCoast CAN SLIM Investment Strategy
NorthCoast CAN SLIM Investment Strategy For Presentation to Morgan Stanley Wealth Management Financial Advisors A growth portfolio with downside risk protection This presentation is to report on the investment
More informationAXA Equitable s Investment Edge Variable Annuity Core and Explore Model Portfolios
Morningstar Investment Management AXA Equitable s Investment Edge Variable Annuity Core and Explore Model Portfolios Broad diversification, innovative characteristics, progressive risk management, in three
More informationPrincipal LifeTime 2010 Separate Account-R3 as of 12/31/2016
Principal LifeTime 2010 Separate Account-R3 as of 12/31/2016 Investment Strategy The investment seeks a total return consisting of long-term growth of capital and current income. The fund operates as a
More informationPACIFIC FUNDS SM DIVERSIFIED ALTERNATIVES
PACIFIC FUNDS SM DIVERSIFIED ALTERNATIVES AN ALTERNATIVE ASSET CLASS SOLUTION AS OF 12/31/17 MFC0769-1217 DIVERSIFY TO HELP MANAGE MARKET VOLATILITY AND GENERATE SMOOTHER RETURNS Many investors are looking
More informationExchange Traded Fund Strategies
Exchange Traded Fund Strategies 221 W. 6 th Street, Suite 1210 Austin, Texas 78701 Phone 512.477.3110 Fax 512.472.1046 Teresa Finney Senior Vice President, Investments Richard A. Funk, CFP First Vice President,
More informationFundAdvisor. Building diversified portfolios of high-quality mutual funds
FundAdvisor Building diversified portfolios of high-quality mutual funds One James Center 901 East Cary Street, Suite 1100 Richmond, VA 23219 (888) 285-1863 Davenport & Company LLC Member NYSE l FINRA
More informationA R I S K - B A S E D A S S E T A L L O C A T I O N P R O G R A M TOPS. Pioneers in Strategic ETF Portfolios. 1 of 20
A R I S K - B A S E D A S S E T A L L O C A T I O N P R O G R A M VALMARK ADVISERS, INC. TOPS Pioneers in Strategic ETF Portfolios 1 of 20 TABLE OF CONTENTS 1 2 3 4 Foundational Investment Management Theory
More informationOpportunity Portfolio. 3 rd Quarter, 2018
Opportunity Portfolio 3 rd Quarter, 2018 Table of Contents Company Overview 3-5 Opportunity Portfolio Characteristics/Goals 6 Investment Process 7 Investment Themes 8 Risk & Sell Disciplines 9 Ten Largest
More informationInvestor Guide RiverSource Strategic Allocation Fund
Investor Guide RiverSource Strategic Allocation Fund Professional asset allocation, disciplined investment approach. Insightful Solutions for Today s Investor. Your life shouldn t revolve around your investments.
More informationIndependent. Diligent. Proactive.
Independent. Diligent. Proactive. About National Bank Investments Our mission Guided by our 100% open architecture structure, we are dedicated to providing diverse investment solutions to meet your evolving
More informationManaged Accounts. FTA/Morningstar International Core Strategy. First Quarter 2018
Managed Accounts FTA/Morningstar International Core Strategy First Quarter 2018 Firm Profile First Trust Advisors L.P./First Trust Portfolios L.P. Established in 1991; privately owned Over 700 employees
More informationIMPORTANT DISCLOSURES
Expand Your Reach. IMPORTANT DISCLOSURES This presentation is for educational purposes only and is not intended to project the performance of any specific investment. May not be suitable for all investors.
More informationNo Portfolio is an Island
No Portfolio is an Island David Blanchett, PhD, CFA, CFP Head of Retirement Research Morningstar Investment Management LLC 2018 Morningstar. All Rights Reserved. For Financial Professional Use Only. These
More informationNorthCoast CAN SLIM Investment Strategy
NorthCoast CAN SLIM Investment Strategy A growth portfolio with downside risk protection NorthCoast CAN SLIM now available on Morgan Stanley s UMA platform This presentation is to report on the investment
More informationSEEKING A BALANCE OF SAFETY AND TOTAL RETURN
SEEKING A BALANCE OF SAFETY AND TOTAL RETURN PRUDENTIAL SHORT-TERM CORPORATE BOND FUND, INC. MORNINGSTAR OVERALL RATING Class R Class A, Q, and Z Positive performance in the past 26 out of 27 years Portfolio
More informationHow to evaluate factor-based investment strategies
A feature article from our U.S. partners INSIGHTS SEPTEMBER 2018 How to evaluate factor-based investment strategies Due diligence on smart beta strategies should be anything but passive Original publication
More informationInvestment Advisory Disclosure Brochure
FORM ADV Part 2A September 30, 2017 Item 1: Cover Page 6400 East Park Drive Palm Beach Gardens, FL 33410 866.774.8671 www.legendadvisory.com Investment Advisory Disclosure Brochure This brochure provides
More informationINVESTMENT POLICY STATEMENT CITY OF DOVER POLICE PENSION PLAN
INVESTMENT POLICY STATEMENT CITY OF DOVER POLICE PENSION PLAN August 2016 INVESTMENT POLICY STATEMENT CITY OF DOVER POLICE PENSION PLAN Table of Contents Section Page I. Purpose and Background 2 II. Statement
More informationQ Global Equity. (888)
Q4 2017 Global Equity www.westendadvisors.com info@westendadvisors.com (888) 500-9025 1 WestEnd Advisors Overview The cornerstone of our investment process is that the macroeconomic environment is a key
More informationMariner, LLC d/b/a Mariner Wealth Advisors.
Item 1 Cover Page Mariner, LLC d/b/a Mariner Wealth Advisors Nall Corporate Centre II 5700 W. 112th Street, Suite 500 Overland Park, KS 66211 (913) 904-5700 www.marinerwealthadvisors.com July 9, 2018 This
More informationADV Part 2A - Firm Brochure
ADV Part 2A - Firm Brochure 28 State Street, 40 th Floor Boston, MA 02109 (800) 333-3502 www.cantella.com Cantella & Co., Inc. ( Cantella ) is a nationally registered broker/dealer and SEC Registered RIA
More informationSTRATEGY OVERVIEW. Opportunistic Growth. Related Funds: 361 U.S. Small Cap Equity Fund (ASFZX)
STRATEGY OVERVIEW Opportunistic Growth Related Funds: 361 U.S. Small Cap Equity Fund (ASFZX) Strategy Thesis The thesis driving 361 s traditional long-only equity strategies is based on the belief that
More informationCustom Target Date Strategies: Considerations for Plan Sponsors
Custom Target Date Strategies: Considerations for Plan Sponsors May 2014 T. ROWE PRICE Investment Viewpoint EXECUTIVE SUMMARY Defined contribution plan sponsors that use target date portfolios can choose
More informationIntroducing BlackRock's Target Allocation ETF Models
Introducing BlackRock's Target Allocation ETF Models Eve Cout Director, Managed Accounts Business Thomas Wood, CFA Lead Strategist, US Model Portfolios Tuesday January 23 rd, 2018 BENEFIT # 1 Scale and
More information