Woodley Farra is an investment advisor registered with the Securities & Exchange Commission. The firm's revenues are derived solely from fees based on the asset value of client portfolios. We create and implement a client's portfolio exclusively with individual stocks and bonds. This is achieved through the firm's internal research and independent decision-making processes. In conjunction with our independent research strategy, Woodley Farra Manion also publishes a monthly analysis of market conditions and economic activity. This update considers national and global factors, as well as governmental and political actions. To read our most recent analysis, please visit our company web site and select “ Market and Economic Dashboard “ We keep our clients informed through concise, yet thorough, quarterly performance reports. Our portfolio managers continually monitor client investments and implement changes when warranted.