With over 25 years of experience as an advisor, Carmela has very specific views about portfolio management:
- Asset allocation is the key to effective portfolio construction. Proper asset allocation usually accounts for more than 85% of a portfolio’s long-term returns.
- Proper asset allocation includes diversification across asset classes, sectors, industries, company size and geographical regions.
- Preventing a loss of principal is more important than getting extraordinary returns.
Overall, Carmela believes that clients never lose money by taking profits.
Like Michael, Carmela believes in getting involved with every aspect of her client’s financial lives. Specifically, Carmela works according to the following principles:
- Understanding the client and their needs before making any recommendations.
- Recognizing that Money is a means to an end. As a result, you have to appreciate what the client’s ends are in order to make effective recommendations.
- Recommending what is right for the client, not what’s right for the advisor, even if it costs us time and/or money.
Outside of the office, Carmela enjoys international travel, spending time with family and friends, and reading articles about tax saving ideas. Carmela’s e-mail signature concludes with the phrase: May your days be less taxing.