The PASI Difference

As a private, independent firm focused solely on the business of investment management, PASI has clear advantages over trust departments, brokerage houses, and mutual fund companies.

Personalized Service:

Investment management is our business, and achievement of competitive risk-adjusted returns is essential. Client service, however, is what really sets PASI apart from others in our industry. Our size and independence make this focus possible. Portfolio managers limit the number of relationships to enhance personalized service. Annual meetings are encouraged as an opportunity to review your investment structure and returns, assess your financial situation, and answer your questions. A member of our team is always available to talk to you.

Dedication: Over the years, PASI has created a culture that fosters the loyalty of its employees, who average over ten years with the firm. Our staff includes our seven-member portfolio management team and four support personnel.

No Conflicts of Interest: Our status as a fully independent, fee-based investment management firm allows us to avoid potential conflicts of interest with clients. We do not:

• earn a commission from the buying or selling of securities
• represent any corporations in the issuance or marketing of securities
• affiliate with banks, brokers, or insurance companies looking to promote "in-house" products
• sell any proprietary financial instruments

PASI conducts independent investment research and invests its own retirement plan in the same securities it recommends to clients.

Straightforward Performance Reporting: PASI's state-of-the-art portfolio management software tracks individual account performance daily. Reports clearly illustrate investment returns relative to an appropriate benchmark.

Equities: PASI invests in high-quality large capitalization growth stocks, with a mix of small and mid-capitalization companies. We favor companies that are leaders in their industries, trading at attractive valuations, with a history of consistent earnings growth, increasing dividends, and a strong balance sheet.

Fixed Income: PASI purchases only investment grade bonds. Typically, the bond portfolio is laddered over a five-year range and held to maturity. This conservative approach ensures stability, security, and a steady income stream. When appropriate we purchase tax-free municipal bonds.

Custody: State Street Bank and Trust Company, the world's second largest custodian of financial assets, houses the majority of PASI client assets. State Street also provides quarterly account statements, trade clearance and settlement, corporate action processing, income collection, and tax reporting.

Expenses: We work strictly on a fee for service basis, calculated on dollars under management. Our fee begins at 1% annually, with a declining rate structure beyond the first $500,000. As a fee-based adviser, our interests are completely aligned with yours - the growth of your assets and the attainment of your financial goals.

Please contact us with any questions you may have.