Once we determine an appropriate strategic asset allocation for your portfolio, we move on to select individual funds for each asset class. Our partnership with a nationally recognized institutional investment consultant provides us access to a universe of more than 10,000 non-proprietary investment products, including mutual funds, exchange-traded funds, interval funds, and private investments.
We incorporate both active and passive funds based on market efficiency. In more efficient markets (e.g., U.S. stocks) we prefer to use more passive strategies. In less efficient markets (e.g., emerging markets), we tend to use more active managers.
We allocate to both growth and value styles, though as value investors, we tend to overweight value strategies.
We prefer to hire managers that stay fully invested to minimize the opportunity cost of too much cash.
We consider a range of vehicles, including mutual funds, exchange-traded funds, interval funds, and private fund structures, and select the vehicles that best meet each client’s needs.
We are sensitive to each strategy’s tracking error to minimize “blow-up” risk, where a single manager’s underperformance destroys all the excess return generated by other managers in the portfolio.
Key criteria for evaluating and selecting funds include total assets managed, holdings analysis, clearly articulated process, sufficient manager tenure, and historical performance that is consistent with the defined process.
Frequently Asked Questions
What Our Clients Say
Peace of mind and a feeling of security is what all of us wish for as each year flies by during these uncertain times. I wish I had not waited until 2019 before enlisting the help of HFS, but better late than never!
The team at HFS is approachable, accessible, professional and they can explain even the most complex financial topics in laymen terms. The HFS team practices the perfect blend of the science as well as art of financial planning. I thank them for taking me and my family on as clients!
From a grateful client and her entire family, Massachusetts
My Husband and I began to work with Heritage back in 2007. Since then, needless to say, our lives and the world have taken many turns. I am very pleased to say that Heritage has always helped us make the best possible decisions, based on whatever our needs were, at that particular time.
I trust Heritage implicitly to continue to manage my portfolio, especially during these challenging times.
Myrna, New York
As a long-time client, I have nothing but positive things to say about Heritage Financial. They have strong principles, solid investment strategies, great communication and look at the financial picture holistically - investments, savings, property, insurance, estate, education, etc. everything to help you reach your goals.
Heritage has gained my trust, they invest as if it were their own money.
In a few words - Personalized. Strategic. Detail oriented. Responsive.
Joe & Patti, Massachusetts
This testimonial has been given by a current client of Heritage Financial Services. No compensation was provided for this testimonial.