Tactics we use in creating our recommendations.

We take a measured approach to creating specific investment recommendations for you. It involves forward-looking assumptions, asset allocation choices and selecting professional money managers.

+Forward-Looking Assumptions

In concert with Raymond James Asset Management Services (AMS), we develop forward-looking risk return and correlation assumptions for the various asset classes to be included in the portfolios.

We utilize capital market assumptions based in part on passive, long-term market expectations for the next 10-plus years. These assumptions, provided by Mercer Investment Consulting Group, serve as the foundation for our institutional investment process.

In the model construction process, we apply an active return (alpha) overlay to the passive estimates from Mercer, based on proprietary research of expected risk-adjusted excess returns generated by active managers for each asset class. In addition, we research, identify and select quality money managers in an attempt to maximize alpha opportunities in each asset class.

Alpha compares a fund's actual returns with those that would be expected by its beta, which measures volatility of the fund with its benchmark index.

+Optimization & Refinement

Optimize the asset allocation and analyze the unconstrained efficient portfolios that result from the selected asset classes, which are designed to maximize returns at each level of risk. Refine allocations based on investment policy constraints and informed market judgment.

Asset allocation does not guarantee a profit nor protect against loss.

+Portfolio Construction

Search for high-quality investment managers who have consistently compensated investors for the active risk taken, and then construct our client's portfolios.

Past performance may not be indicative of future results.


Continuously monitor every element of the process to ensure that we are providing an institutional quality program and portfolio that works toward reaching clients' goals.