Many of my clients are too busy to manage investments effectively.  I am continually in the process of simplifying my investment philosophy.  Some of the questions I am asking when selecting investments for my clients:

• What asset classes should we own? 
• Does owning this asset class provide important diversification or is it just a more expensive way of owning something that performs like another asset class?
• Should we own a lower-cost index fund for this asset class or does professional management offer value?
• If we choose a manager, what is the management teams' experience and track record?  How much of their own wealth is in this fund?
• How often should this portfolio be rebalanced to reflect changing market conditions?
• What are the risks that need to be managed? 

I spend the time reading, listening to conference calls and writing in order to offer perspective that most people don't have the time or interest to stay current on.   I limit my focus to keeping track of a few investments that are owned by myself and clients.  By knowing these investments well, I have confidence that I can add value to investment management and free up time to help clients with holistic planning needs.