Individuals/Families
The example provided below is hypothetical and is only included to illustrate Farr, Miller & Washington’s understanding of and approach to the unique concerns of this particular client group. Please note there is a minimum account requirement for management by Farr, Miller & Washington.

Individuals and families have the most unique financial pictures, and as a result, have the widest range of portfolio choices. Investment objectives and priorities vary widely not only between each individual, but within the course of one’s own life as well. We know that individuals just starting out in their careers have very different priorities and concerns from those nearing retirement. While issues such as income needs, capital growth or preservation, liquidity, tax implications and risk tolerance are germane to all, they must be addressed on an individual basis with one’s stage in life and psychological characteristics in mind. Most importantly, these issues change over time and must be revisited frequently.

Furthermore, we are also aware that for individuals, portfolios consist of more than traditional assets of stocks and bonds but encompass real estate and financial obligations as well. Therefore, our portfolio managers know their clients very well; they understand their unique situations and develop portfolios that will be consistent with their objectives over time. College and retirement planning are among the biggest concerns for our clients and we help offer our clients a sense of control over these issues. For example:

Mrs. Kelley is nearing retirement and she is frightened about the prospect. She understands that she must address issues of fixed costs, life expectancy, future needs and long term health care costs. However, she does not feel confident enough in her knowledge of these issues to determine whether her current funds and savings are adequate to reach into her retirement years.

Farr, Miller & Washington would work with Mrs. Kelley in defining future needs and developing a portfolio that will help generate income while providing inflation protection. We understand that her time horizon is short and that her tolerance for risk is somewhat low, and we would try to develop a portfolio accordingly. While we couldn’t guarantee the performance of Mrs. Kelley's portfolio, we want her to feel confident that she has addressed the issues and positioned her portfolio in the best way possible.