Once our consultants have a clear understanding of a client's individual needs, we begin an overall assessment of their current portfolio. We review the existing asset allocation to see how well it supports the client's objectives. We also conduct an evaluation of all existing investment managers and offer insight into the performance of the current account versus various benchmarks.

Canterbury's approach to asset allocation is strategic. We are not market timers, though we do make an effort to be opportunistic in our allocations. Our approach is designed to achieve our client's goals through long-range planning and we will spend a good deal of time at the start of a new client relationship crafting an asset allocation that reflects those goals. Incorporating a range of styles such as active and passive, growth and value, traditional and alternatives will help to create a strategically balanced portfolio.

For taxable clients, Canterbury offers integrated planning to reduce income and estate tax consequences for clients. Canterbury seeks to minimize income taxes through creation of efficient portfolios (using tax efficient managers, focusing on dividends and long-term capital gains as well as working with managers to systematically harvest tax losses). Canterbury also seeks to defer and/or reduce taxes by allocating the most tax inefficient strategies to the most tax-favored structures.

Canterbury customizes portfolios for clients in an effort to maximize portfolio performance within an acceptable range of risk. Canterbury works with clients to reduce risk through the use of intermediate asset holding structures (Trusts, Family LPs or LLCs, S Corporations) and through insurance coverage (property, casualty, liability, life, disability, long-term care, and medical).

Canterbury works with clients to develop a comprehensive wealth strategy that seeks to maintain their wealth into the future. Examples include: Estate, Gift and Generation Skipping Trust Tax minimization, preparing heirs to inherit productively, family business continuity, family business liquidity and strategic philanthropy.

Canterbury is active in finding new managers for our clients. Our manager research process is on-going, which results in a great deal of due diligence on each manager that Canterbury recommends and is independent of a particular manager search assignment.

Once our due diligence is complete, we identify managers that fit with the client's criteria and provide clients with an evaluation on the firm and key personnel, their investment process, portfolio characteristics, risk-return analysis and management fees. We then offer our perspective and insight to assist clients in making final hiring decisions.

In the search process for traditional equity and bond managers, we want to gain knowledge of an entire universe of available managers. But the research effort for non-traditional asset classes and strategies is narrower and focuses on individual firms and manager talent. Successful alternative investing is all about finding individuals with skill and integrity and focus.

Canterbury has been researching and recommending alternative strategies since 1990. We advise on Private Equity, Venture Capital, Real Estate, Commodities, Distressed Securities, and all types of Hedge Funds. Whether our clients are new to incorporating alternative investment into a portfolio or have a history of using alternative investments, Canterbury can build customized portfolios to meet our client's needs.

For each client, Canterbury creates a custom policy index which is reflective of the asset mix the client and consultant have reached together. Sometimes clients have guidelines written into their investment policy that call for the fund to outperform a specific benchmark, i.e. CPI +5% or an actuarial assumption for investments. The benchmarks used are unique to each client and are decided upon only after discussion and agreement by the client, the manager and the consultant.

Canterbury independently calculates investment performance from each client's custodial statements. We prepare a customized performance report that is distributed to clients on a quarterly basis. In the report we analyze the total fund's performance versus the policy index and its peers as well as individual manager returns against industry benchmarks and their peers.

In addition to reviewing the raw performance numbers, Canterbury closely monitors the money managers and funds in which our clients invest. Each quarter we meet with managers to discuss the performance for the quarter and year-to-date, positions bought or sold, future outlook and firm updates. This qualitative review is combined with our performance attribution and style drift analysis and becomes part of our quarterly report.

Canterbury assists clients with all aspects of financial administration to include: assistance in the account opening process (gathering partnership documents, subscription agreements, private placement memorandums etc.) portfolio maintenance work, referral services and assistance with managing liabilities.

Canterbury seeks to educate clients and their family members on various investment topics in order to broaden their knowledge and help them make informed decisions. On a regular basis, we provide presentations on the nature and viability of various asset classes or strategies, investment trends or economic themes. Our consultants train clients on how to interpret performance returns within the context of the economic environment, and how to understand manager returns via our attribution analysis.

We meet with our clients as frequently as each client requires. Generally, when we are first engaged, meetings may be monthly while we go through the asset allocation, manager structure, and investment implementation. Once those decisions have been made and we assist our clients in implementing the decisions, meetings may become less frequent and a regular quarterly meeting schedule is generally arranged. Of course consultants and analysts are always accessible by phone.

Canterbury offers assistance in reviewing custodial and safekeeping arrangements and/or performing a custodian search. Canterbury's analysis includes a review of the firm's history and ownership structure as well as general assets under management and fund options. We conduct a detailed comparison study of fees: annual fees, maintenance fees and transaction fees. We also look at their cash management funds for both fees and yields.

Canterbury has extensive experience working with religious organizations and mission based investment programs who are interested in Socially Responsible Investing. When clients have objections to owning certain companies or mutual funds, Canterbury works with the individual money managers to ensure those securities are restricted from their accounts. We then employ software which helps us track and update changes to the restricted security lists and communicate these changes to the appropriate managers.