We focus on the net returns of our clients. For taxable accounts, we seek to maximize after-tax returns, rather than pre-tax returns, which sometimes negatively affects annual reported results but is beneficial over the long-term to our clients’ individual finances. For tax-exempt accounts, we seek to generate maximum returns by taking advantage of the increased tax flexibility that these accounts benefit from.
Average year performance of equities*:
| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| 23.83% | 8.81% | 0.78% | 10.33% | 5.36% | 13.72% | -6.25% |
Average year performance of fixed income*:
| 2004 | 2005 | 2008 | 2009 |
| 6.60% | 2.63% | 0.11% | 17.81% |
*Previous performance doesn’t make any promise or reference to future period performances