Investment Management Services

Kershner Grosso furnishes investment management services to clients, including individuals, trusts, corporations, and other business entities. Thomas Kershner, Ph.D., and/or Kershner Grosso, also serve as a trustee or co-trustee for a number of clients.

The term "investment management services" is defined as providing portfolio management services to clients with respect to the investment of assets in a client's account. We provide such services on a discretionary basis (i.e., Kershner Grosso makes specific investment decisions for a client without first obtaining the client's approval), although we may consider a non-discretionary arrangement under certain circumstances.

Investment supervisory services begin with Kershner Grosso working with each new client to identify the client's investment objectives and their tolerance for risk. We then develop an investment plan for their account(s) and we manage the client's assets in a manner consistent with the client's investment objectives.

Kershner Grosso has discretionary authority for each account we manage. We make all investment decisions for the account. Our firm, without prior consultation with the client, will buy, sell, and otherwise trade in stocks, bonds, other securities and other financial instruments, subject to the investment guidelines and/or instructions that have been established for each client's account.

Investment advice and portfolio decisions are based primarily upon the judgment and experience of Kershner Grosso's principals after analyzing all available information deemed relevant. Clients assume the risk that their investment returns may be negative or less than the rates of return of other investment advisors, market indices, or investment products.

 

Our guiding principles include:

  1. We own what our clients own

The officers of Kershner Grosso and their families have all of their monies invested at Kershner Grosso. We own, in our personal and retirement accounts, many of the same securities we own for our clients in their portfolios.

  1. We are long-term investors, not speculators

We are continually seeking to maximize our clients’ after-tax returns, which we can do much more effectively and efficiently with individual stocks and bonds than can be done by short-term trading or by owning mutual funds.

  1. We operate under a strict fiduciary standard

We are paid only management fees by our clients, and our interests are identical and aligned with our clients’ interests. We don’t receive any commissions, rebates, referral fees, or other payments from mutual funds, insurance companies, or from any other third-party firm.

  1. We minimize our clients’ fees

The annual fees our clients pay are typically considerably lower than the annual fees, commissions, and trading costs charged by many stockbrokers or other financial advisors who buy and sell mutual funds for their clients’ portfolios.

  1. Our clients can deduct our fees on their tax returns

Our management fees are fully disclosed, and our clients can itemize and deduct them on their tax returns.

A client’s investment plan is designed according to the specific needs, objectives, and tolerance for risk of that client. During the initial consultations, the client and Kershner Grosso discuss the client’s needs, including desired goals and risk tolerance. Plans may involve consultation with other professionals, including attorneys and accountants. The development of the investment plan for each client is ongoing in nature.