Your portfolio is designed within the framework of your goals, risk considerations, spending budget, and other constraints viewed through the lens of the best thinking of our firm. We present our understanding of your objectives for your review and feedback.
Implementation through a broad spectrum of investment solutions
For individual portfolios that may be sensitive to the impact of taxes, we offer direct ownership of individual securities through our Core Equity Strategy as the foundation of your portfolio. Equity positions are complemented by other asset classes to help provide diversification, enhance returns and manage risk. In our decisions, we remain conscious of your low-basis legacy or concentrated investments, as well as real assets or other illiquid holdings you may have as we design strategies for diversification and risk protection.
For operating non-profit organizations, we understand the need to consider the interrelationship between the investment pool and the entity’s operating performance, debt structure, capital projects and projected cash flows. In addition, we formulate a sense of the organization’s character. If it is well-regarded, it is because key facets, such as staff, management, programming and facilities, can translate into a positive reputation, enabling it to successfully fund raise. This broader approach enables us to determine how organizations may want to adjust strategy to accommodate different situations. For example, declining operating results and a burdensome debt structure might dictate alterations to the spending rate and/or the investment allocation mix, while solid operating results with strong funding support from the “community,” might warrant consideration of more aggressive capital projects.
Whether serving in an advisory capacity or as an Outsourced Chief Investment Officer (OCIO), our primary objective is to preserve capital and enhance purchasing power over time. As discussed above, we consider the totality of client’s circumstances, including liquidity constraints, the Investment Committee’s appetite for risk and view of alternative investments, spending policy, timeframe, and other client characteristics. Based on our analysis of these client-specific attributes, we develop and model potential investment scenarios within the framework of our market and economic views, as well as the expected returns, volatility and correlations of potential asset classes. The resulting investment plan seeks to optimize potential goal attainment while mitigating unnecessary risk.
Investment plans are implemented using open architecture solutions that minimize any conflict of interest. The managers we select undergo quantitative and qualitative review on a standalone basis and are only selected after a careful analysis of how they work together in your portfolio. We utilize both active managers and low-cost passive options where appropriate. We collaborate closely with internal staff, the Board and the Investment Committee to provide substantial operational support, deliver in-depth reporting and develop specialized educational communications when requested.
Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Klingenstein Fields Advisors (“KF Advisors”), or any non-investment related services, will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. KF Advisors is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. If you are a KF Advisors client, please remember that it remains your responsibility to advise KF Advisors, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. A copy of our current written disclosure statement discussing our advisory services and fees is available upon request or by clicking here. Please read the expanded disclosure on the Important Disclosure Information page.