We objectively focus on what we can control to let the markets work for you.

To provide peace of mind through various market conditions, and the opportunity to grow and protect your savings, our investment approach is guided by evidence based research, conducted by respected academics, many of whom have been awarded Nobel Prizes for their ground-breaking work. At least as importantly, your portfolio is designed to meet your objectives and what matters to you.

We respect the peer-reviewed studies around efficient markets and take advantage of the expected long-term performance premium of value and small-company stocks. Decisions based on current headlines or emotions often reduce expected returns and increase unnecessary costs. For this reason we adhere to the following investment principles in order to improve your probability of success:

  • Markets are highly efficient. Security prices reflect available information.
  • Structure determines performance. Asset allocation along size, value and market exposure dimensions primarily determine the results of a broadly diversified portfolio.
  • Risk and return are related. Exposure to meaningful risk factors determines expected return.
  • Diversification is essential. Diversification reduces uncertainty; concentrated investments add risk with no additional expected return.
  • Costs and taxes matter. Expenses and taxes reduce net returns.

Our commitment to this evidence-based investment approach has led us to recommend low-cost institutional mutual funds and ETFs for most investors; the use of personal securities and actively managed funds is generally not advised.

We emphasize asset allocation so the markets work for you while minimizing investment costs and taxes.”

— Steve Starnes

Senior Financial Advisor
Grand Wealth Management