Investment Management
Research-Based Investing
When we founded BFS nearly 30 years ago, we were predominantly an investment firm. We focused on research, learning as much as we could about economics, finance and the companies we own to address our clients’ wealth needs
Today, research remains the core engine that drives our investment advice. Our portfolio managers and research professionals conduct extensive investment research to enhance existing data and to help ensure educated decisions. In addition, they develop strong relationships with you to help guide individualized strategies and solutions.
Philosophy: Prioritizing Preservation
Our investment philosophy has stood the test of time. From inception, our firm has invested for the long term, adhering to these five core tenets:
- 1
Structure portfolios to meet client needs
Portfolios reflect the client’s risk tolerance, time horizon, income needs, tax situation and other considerations.
- 2
Employ prudent diversification
Portfolios are weighed toward high-quality stocks among attractive industries.
- 3
Uphold a commitment to equities
We rely not on predictions but on the client’s specific asset allocation guidelines.
- 4
Optimize acquisition & divestiture of securities
We typically hold 25–40 positions diversified across equity and fixed income securities with a view to weathering all market environments.
- 5
Adhere to a strict pricing discipline
We adhere to a strict pricing discipline, buying growth companies at reasonable prices.
Approach: Customized Portfolios
When investing, we consider your risk tolerance, liquidity, income, and tax planning, along with superior relative and absolute performance measured over an entire market cycle.
We aim to outperform appropriate stock market indices in the equity portion of a portfolio by investing primarily in growth stocks with a risk-moderating strategy.
In the fixed income portion of a portfolio, we generally invest in high-quality taxable and tax-exempt bonds, adjusting duration to maximize income and minimize risk.
If you wish to maximize income, we use a mixture of corporate bonds, fixed income mutual funds, fixed income ETFs, preferred stocks, REITs, master limited partnerships, and other higher yielding equities to meet your income targets.