Reduce Costs:  Through the use of tools like ETF’s we can have access to broad asset classes while minimizing management and commission costs. 

Limit Volatility:  The core satellite approach allows us to have access to a broader universe of asset classes than a traditional investment manager would have access to. 

 Generate Excess Returns:  This method of asset allocation allows us to generate excess return or “alpha” by:  

• Focusing Resources appropriately on areas where we can add the most value.  For example, we are not “experts” in trading foreign exchange futures, so this is an asset class we will typically use external managers. 
• Balance of Active/Passive Management: because some markets are more “efficient” than others, in certain cases it makes more sense to use vehicles that replicate an index or basket of securities, rather than use active management.  In more inefficient markets however, some active managers may have an informational advantage that they can exploit or a unique differentiating ability to consistently “beat the market”. 
• Increase tax efficiency: We utilize our stock selection and analysis expertize to construct portfolios that limit tax liabilities, while minimizing the risk of legacy stock holdings