Tax-efficient asset management for ultra-high-net-worth families.
At this level of wealth, taxes are usually a portfolio's largest cost. We manage portfolios for ultra-high-net-worth families with the tax bill treated as the largest controllable cost.
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25 years
In tax-advantaged alternatives
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$5.5 billion
AUM
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2004
Independent since
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5:1
Family-to-employee ratio
AUM as of September 2026.
How we build after-tax returns
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Asset location.
We strategically direct assets to accounts where the tax implications will be least felt.
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Loss harvesting.
We harvest losses through the year, not on December 31st.
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Tax-aware rebalancing.
We rebalance using cash flows and predetermined thresholds to limit avoidable realized gains.
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Low turnover.
We keep turnover low and trade only when a change improves the portfolio's after-tax outcome.
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Tax-advantaged alternatives.
We allocate to income-producing alternative assets with structural tax advantages where they fit the plan.
Two decades in tax-advantaged alternatives
What this looks like in practice
Before any trade, we put its estimated tax consequence in front of you. At year end we review what the strategy did and why every position we hold has an after-tax rationale.
Bring us last year's return and last year's tax bill. We will show you the gap we would work on.