Portfolio Management Services

HJA offers portfolio management services for both individual and institutional investors. The minimum account size for all clients is $500,000.

HJA manages $116.8 million of assets for individual clients and $752.6 million for institutional clients. The average size of the portfolios that are managed for individuals is $901,000. By industry standards we are told this is a low average. Maybe so. But this is by design. We manage portfolios that are small because we believe strongly that everyone, large and small, should have equal access to professional investment management. We get a real pleasure out of helping individuals meet their lifetime financial objectives…it’s an important part of what we are all about.

We manage each portfolio with discretion and update our clients each quarter with clear, easy-to-understand reports on performance as well as a complete and "readable" analysis of economic and financial market trends. In part, having your assets managed by HJA is both an investment experience and an educational experience. The reports and the analysis are (we hope) very clear and understandable.

We are also not a "swing-for-the fences" investor. We do not borrow money to enhance performance and we do not focus on a small number of ideas that seem like they will have a big payoff. We believe in some very time-tested rules of investing and risk reduction. We believe it is wise to diversify an equity portfolio among the ten sectors of the stock market. Although we purposely overweight sectors we believe are promising, we do not so overweight a sector that the portfolio becomes imbalanced. We purposely will own mid-capitalization and small capitalization stocks, but make sure that the weighting of each is in-line with the weights of each in the market. We believe in diversifying by owning between 25 and 45 different stocks. We also reduce risk by owning only high quality companies and buying only investment grade bonds in the fixed-income part of portfolios.

Clearly our style is not for everyone. But it is for those that believe in risk reduction and building wealth over time…sensibly …imaginatively.