Luke Neumann

Crestwood Advisors constructs portfolios with a strict valuation discipline and securities are proactively rebalanced based on changing client objectives and the firm’s fundamental outlook for individual securities, asset classes, investment markets and global economies. Crestwood customizes portfolios based on each client’s unique income needs, risk tolerance and time horizon. The firm employs a global investment strategy, which includes both a top-down and bottom-up approach to asset management. As a global investor, Crestwood focuses on investing in securities or markets where it seeks to obtain responsible risk-adjusted returns over time. The firm attempts to reduce downside risk and enhance upside risk-adjusted returns by placing clients’ capital in a diverse mix of correlating and non-correlating assets. For the equity allocation of a portfolio, Crestwood seeks to invest in individual companies with the following attributes: distinct competitive advantages; attractive and growing cash flows; solid and/or improving economic returns; diverse revenue streams; and dividend payouts and buybacks. For the fixed income portion, the firm seeks to invest in both domestic and international fixed-income vehicles. In many cases, they purchase individual taxable or tax exempt bonds in order to target bond duration, credit quality and liquidity. As for other income-oriented investments, Crestwood employs ETFs and/or mutual funds in an effort to achieve a well-diversified portfolio that includes positions in both domestic and international debt securities. Crestwood augments their portfolios by investing in ETFs, ETNs and mutual funds to give portfolios exposure to focused asset classes such as international and emerging equity markets. ETFs are also used to gain exposure to hard assets, such as gold, agriculture and energy. For certain accredited investors, Crestwood may review investments in privately placed collective investment vehicles, some of which may be hedge funds. The managers of these vehicles have broad discretion in selecting the investments. There are few limitations on the types of securities or other financial instruments which may be traded and no requirement to diversify.