The investable universe is a vast sea of opportunity. As of 2024, there were approximately 3,685 Exchange-Traded Funds, 8,800 mutual funds, 4,300 publicly traded companies. That means when you log into your online brokerage accounts, you have literally, thousands of ways to invest your money. Thousands.
It’s important I start with how incredibly important this open and comprehensive universe is for the individual investor. The democratization of investing over the recent decades has only been beneficial. Just last year, the CFA Institute published an article on retail access to private markets (investments previously only available to the ultra-wealthy and large institutions like big hedge funds and endowments.)
But it all comes at a cost. How does one choose to allocate their hard-earned dollars across these investments. Often, most clients throw their hands in the air, let out a long breath, and say, “I’ll just keep my money in cash.” We often call this analysis paralysis… too many choices lead to no decision being made. Or at least the choice of least resistance.
All this to say, this new arena of investing reduces our decision making to tactics. It narrows our focus into short-term thinking. A series of small action items over time… What to invest in? When to get in? When to get it? Is there a better alternative? Tactics are the specific actions or steps you undertake to accomplish your strategy.
But what is the strategy? What are you trying to accomplish with your investments? If the answer is to make as much money possible, I must follow up and ask a more important question. Why? Why do you want to make as much money as possible? Remember that strategy is about aligning money with personal purpose rather than just solving for complexity. Responses start to formulate. I want to retire comfortably, or I’d like to know if I can retire at all. I want to travel 6 months of the year. I want to send my kids to college. I want to buy that 2nd home my wife has always dreamed of. I want to play golf with my grandkids. (Full disclosure, this last answer is my own). As it so happens, people worry so much about money now with the aspiration of never having to worry about money ever again. This is where strategy kicks in.
Money is the tool that helps us achieve our goals, it is not the destination. When you begin to create strategy, you understand how different investments help you achieve those goals more efficiently. How can I get to my destination as quickly AND as safely as possible.
This is why I love our value proposition tagline, Personal Journeys, Professionally Navigated. This is your journey. You likely already know or have thought about what you want your retirement to look like, what you want to achieve and what you want your legacy to be. We’ll help you get there. And if you haven’t thought about those things, even better. We’ll help you navigate.
The tactics are what we do every day. Let’s build a strategy tailored to your journey—because your wealth should be working toward your vision, not just chasing returns.
Kovitz Investment Group Partners, LLC (Kovitz) dba NorthCoast Asset Management is an investment adviser register with the Securities and Exchange Commission under the Investment Advisers Act of 1940 that provides investment management services to individual and institutional clients. Effective June 1, 2024, NorthCoast Asset Management underwent an organizational change and all persons responsible for portfolio management became employees of Kovitz Investment Group Partners, LLC. Prior to June 1, 2024, NorthCoast Asset management was previously overseen by Focus partner Connectus Wealth since November 1, 2021. From 2008 until November 2021, the Firm was defined as NorthCoast Investment Management, LLC. The accounts managed at the predecessor firms are sufficiently similar to the accounts managed at NorthCoast Asset Management, such that the performance results would provide relevant information to clients or investors.
NorthCoast Asset Management is a d/b/a of, and investment advisory services are offered through, Kovitz Investment Group Partners, LLC (Kovitz), an investment adviser registered with the United States Securities and Exchange Commission (SEC). Registration with the SEC or any state securities authority does not imply a certain level of skill or training. More information about Kovitz can be found at www.kovitz.com.
NorthCoast and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
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