Essex Financial Advisors builds client relationships based on trust, competent professional advice, continual communication, and prompt personal service.
Our philosophy is based on our belief that the most important investment decision an investor can make is not which investment to buy, but rather, how assets should be allocated based upon the investors’ attitudes, objectives, circumstances, and risk-taking capacity.
Many people assume that all they need to achieve their financial goals is good investment advice. While this is important, we believe that good investment advice can only come from good financial planning. A comprehensive financial plan creates the larger framework within which it becomes possible to make coordinated financial decisions that maximize the probability of achieving your goals. Each new financial decision can affect your tax status, investment plan, estate plan, and insurance coverage. Therefore, each decision should be made with full knowledge of its impacts on all areas of your life. The investment plan is important, but it should arise naturally from within the overall financial plan.
We believe that long term success in portfolio management revolves around 6 important concepts:
- Have a Plan:A documented plan forces fore thought and commitment to priorities.
- Be Disciplined:Stick to the plan and avoid the daily noise of the financial markets
- Diversify:Use different asset classes to reduce risk and increase returns
- Manage Risk:Take profits in positions along the way and sell to minimize losses
- Be Contrarian: “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”, Warren Buffett. Don’t over pay for potential.
- Manage Costs:Minimize the huge drag of taxes and keep portfolio expenses low
All of the portfolios we manage are based on those key themes to increase the potential for more stable long term returns.