PORTFOLIO SOLUTIONS

Income Focus offers two portfolio solutions using municipal bonds, and managed by the Firm: Tax-Exempt Income and Taxable Income.

The firm also offers portfolio solutions for clients who wish to develop a comprehensive asset allocation alongside their bond portfolios: a core portfolio of global equity indices and a portfolio of individual high dividend equity securities.

Investment Options

Tax Exempt Income

Our Tax-Exempt Income strategy seeks to provide federally tax-exempt income at a level above that available through mutual funds employing a similar investment approach, but with similar credit quality and duration as these mutual funds.

No leverage is used. We generally avoid bonds rated below investment grade, and bonds where interest may be subject to the Alternative Minimum Tax.

Clients may request that their state of residence be a factor in our bond selection, subject to our judgment regarding geographic diversification, and the availability of in-state bonds during the initial investment period and ongoing management process.

Advisory fee: 0.36% (36 basis points) annually.

For additional information on our fees and the operation of our firm, please refer to our Form ADV Part II, which can be found under the “Privacy Policy & Disclosures” link below.

Taxable Income

The goal of our Taxable Income strategy is to provide an attractive income similar to that available through mutual funds investing in corporate bonds, and is designed for tax-deferred retirement accounts such as IRAs, and tax-exempt organizations who wish to add the municipal bond asset class to their portfolio.

No leverage is used. We generally avoid bonds rated below investment grade. Zero-coupon bonds may be used in tax-deferred retirement accounts where current income is a secondary consideration.

Advisory fee: 0.36% (36 basis points) annually.

For additional information on our fees and the operation of our firm, please refer to our Form ADV Part II, which can be found under the “Privacy Policy & Disclosures” link below.

Core Global Equity Indices

For clients who wish to develop a more comprehensive asset allocation alongside their bond portfolio, we offer a core portfolio of exchange-traded index funds. This portfolio currently holds six low cost exchange traded funds, and gives exposure to most of the world’s equity markets, but with tilts toward those regions where we believe economic growth is likely to be fastest.

We are happy to analyze clients’ overall asset allocation and financial goals, and recommend an appropriate amount of equity exposure.

Advisory fee: 0.36% (36 basis points) annually.

For additional information on our fees and the operation of our firm, please refer to our Form ADV Part II, which can be found under the “Privacy Policy & Disclosures” link below.

Individual High Dividend Equity Securities

Dividends have historically provided a material part of the total return from stock ownership, cushioning price volatility, and providing portfolio income taxed at favorable rates.

The companies in our recommended portfolio pay attractive dividends, and are, we believe, likely to maintain and increase the dividends in the future.

We are happy to analyze clients’ overall asset allocation and financial goals, and recommend an appropriate amount of equity exposure.

Advisory fee: 0.36% (36 basis points) annually.

For additional information on our fees and the operation of our firm, please refer to our Form ADV Part II, which can be found under the “Privacy Policy & Disclosures” link below.