Articles & Analysis

Here are our professional articles we've published or been featured in recently.

AICPA Tax Insider – The Tax Adviser:
Are Your Clients Benefiting From Tax-Aware Investment Management?  (September 10, 2015):
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AICPA Tax Insider – The Tax Adviser:
How to Help Your Clients Invest Using Asset Location Management (November 19, 2015): 
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AICPA Tax Insider – The Tax Adviser:
Helping Your Clients Execute a Tax-Aware Investment Plan (June 2, 2016):
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AICPA Tax Insider-The Tax Adviser:
Reexamining tax-loss harvesting:  Better results through enhanced understanding (February 16, 2017):
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AICPA Tax Insider-The Tax Adviser:
Budgeting for realized gains (October 26, 2017):
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Accounting Today:
What All Tax Professionals Should Know about Client Retirement Portfolios (October 14, 2016):
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Financial Advisor:
Staying Relevant In A Time of Robo-Advisor Disruption (February 2, 2016):
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Financial Advisor:
Surviving Market Corrections (April 12, 2016):
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Financial Advisor:
Overly Optimistic Advisors May Threaten Retirees (September 8, 2016):
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Accounting Today:
Practical Tips for Tax Professionals on Client Investment Trends (December 28, 2016):
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Financial Advisor:
Tax-Loss Harvesting:  A Reliable Yet Often Overlooked Source of Alpha (May 23, 2017):
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Archives

Archived Commentaries

Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
3

Real Retirement Solutions

designed to improve
  • Wealth Preservation
  • Management of Risky Assets
  • Peace of Mind

This is achieved through an ongoing assessment of market risks given your specific financial situation and goals.

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Professional Expertise

Leadership Team

Richard Furmanski

Richard Furmanski

CFA

has been a portfolio manager and analyst for over 35 years. He manages conservative, tax-efficient portfolios for both pre-retirees and retirees. His lower risk approach appeals to investors who want less volatility and competitive risk-adjusted returns.

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Mary Ellen Adam

Mary Ellen Adam

Director of Operations

has been in office administration for over twenty years. Her experience includes customer service, firm operations, and office administration. She interacts with our clients on a day-to-day basis and handles any requests that may arise.

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Frequently Asked Questions

If you can't find the answer to your questions here, feel free to give us a call at 847-847-2505

Do you manage both stock and bond portfolios?

Yes. We build a portfolio of conservative, high-quality stocks and hold them for the long-term. The average holding period is 4 – 5 years. Our focus is on stocks that are suitable for retirement portfolios.

Our high-quality bond portfolios are designed to provide both income and stability of principal. Bonds provide the anchor for balanced accounts (those holding both stocks and bonds).

What is your investment philosophy?
We take great care in purchasing only high-quality stocks and bonds intent on a multi-year holding period. Portfolio turnover and taxable realized gains are modest in comparison to other active managers. We do not time the market but will become more defensive, in terms of stock holdings, when market conditions warrant.
Will the portfolio be managed in accordance with my financial goals?
Yes. Each of our clients has a custom-tailored portfolio. These custom portfolios are designed to meet specific client objectives with a thoughtful approach to specific constraints such as risk tolerance. And as each client’s situation changes, the portfolio does as well. There is no cookie cutter approach.
What kind of expertise do you have and how can that help me in difficult markets?
We have been working with high-net-worth clients like you since 1982. Over that time we have helped them to navigate several bear markets and financial crises (including the stock market crash of 1987). We hold the Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP) designations.
Are you sensitive to taxes when managing portfolios?
Yes. Our holding period for an individual stock averages 4 plus years which means our turnover is low and realized gains can be carefully managed. Further, where possible, we tax loss harvest small losses as a way of offsetting gains taken elsewhere in the portfolio.
How have you performed?
Results will differ by client and the level of customization but we have provided competitive investment returns for many years.
How do you charge for your services?
We charge a management or consultant fee based upon the size and level of customization of the account. As the account grows, we benefit together.

Recent Commentaries

Stay up to date with all of our latest comments and analysis.

November 2025 Market Commentary

We are in the heart of earnings season, and it has been an excellent one. About 64% of S&P 500 companies have...
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October 2025 Market Commentary

Oct 1, 2025

The U.S. economy is growing above trend. Last Thursday’s third release of Q2 2025 GDP was revised up from 3.29% to 3.84% with upward revisions to consumer spending on services, business fixed investment, and state/local government outlays.  Fears over consumer...

September 2025 Market Commentary

Sep 11, 2025

So much for the normal summer doldrums this year. The S&P 500 stock index rose almost 10% in the June – August period, and is now up 9.8% through the end of August. The rally in August was a textbook example of what the bulls want to see.  Cyclicals led the way,...

August 2025 Market Commentary

Aug 1, 2025

This earnings season (Q2) is still very young, but beat rates in both revenue and profits are well above average. Yet share-price reactions to earnings reports may be suggesting that the good news is already priced in – at least in the short-term. We are seeing quite...

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Monthly Updates

October 2025 Mid-Month Recap

Oct 21, 2025

There is an interesting dynamic playing out as we start Q3 earnings season. While investor expectations for the quarter may be high, analyst expectations are on the low side.  Stocks have historically rallied during earnings season, but when analyst sentiment is...

September 2025 Mid-Month Recap

Sep 16, 2025

Many professional investors think the bond market is a better forecaster of future economic strength than the stock market. What is the bond market currently telling us?  One bond market indicator, credit spreads, is signaling the coast is clear and current labor...

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