Our firm began in Austin, Texas, in 1985 as an independent, family-owned investment counseling business. We continue in that form today with a team of seasoned investment professionals delivering the very best in personalized investment counseling services. We are rooted in Texas values of loyalty, courtesy and common sense. We serve a wide variety of clients, including families, retirement plans, trusts and charitable organizations. For most clients, we manage all the investments, while in some cases we also provide investment policy and oversight services to portfolios with multiple managers. The core of our business is managing equity and bond portfolios to meet the specific requirements of each client. We invest directly in individual stocks and bonds that meet the high standards of our research team. Our only business is providing comprehensive investment counseling and portfolio management. We are compensated solely by asset-based management fees and are a registered investment adviser under the Investment Advisers Act of 1940. We adhere to a fiduciary standard in all of our relationships.