At Clark Asset Management, we build investment portfolios to create the foundation for our clients' long-term financial well-being. As an independent portfolio manager, we serve individuals, trusts, and similar smaller institutions. Our minimum account size is $300 K. Fees are on a sliding scale and begin at about 1.0% per year, decreasing with greater sizes of accounts. Our portfolios are individualized. Each of our clients has an Investment Policy Statement to outline and respect their unique investment goals and preferences. Client Accounts are custodied at Charles Schwab & Company in the client's name; we do not take possession of client assets. We may use mutual funds from Dimensional Fund Advisors to enable clients to benefit from the Fama-French model's Nobel Prize-winning principles of finance.
We began about 35 years ago with a focused value-growth approach. Initially we considered only issues that had consistent, predictable increases in earnings per share – those where earnings tended to increase at the same percentage rate every year. We questioned the worth of the stream of growing earnings at prevailing interest rates, and then implemented the formula for a partial sum of an infinite series (found in most basic calculus books). With time and experience, our style has become somewhat more eclectic – there are other considerations such as profit margins, debt/equity ratios, return on assets, etc., - but this remains an important point of reference for individual securities. We have also found that the relative proportion of fixed income and equities in a portfolio are very crucial long-run determinants of returns. Even when we approach this from the standpoint of forthcoming turnarounds, we still attempt to acquire growth at a reasonable price.
Modern portfolio theory dates back to the work of Harry Markowitz, who published Portfolio Selection in 1952. Many scholars have contributed to our body of knowledge in the investment realm including Prof. Eugene Fama and Prof. Kenneth French, whose centralized work is commonly known as the Fama-French model. Prof. Robert Haugen and many others have also extended our knowledge. Markowitz and Fama subsequently received the Nobel Prize for their works. We utilize Dimensional Fund Advisors (DFA) funds in our portfolios, as they embody results from the Fama-French model. We also believe that investors somewhere in the back of their minds should have an appreciation of history, and what it means in regard to the long-term retention of wealth. We spend some of our time thinking about longer-term threats to portfolios such as inflation, taxation, and changing secular trends.
Whether you are interested in an IRA, a taxable investment account, a pension plan account, an education account, or other type of account, we invite you to contact us to further discuss your objectives.
Whom We Serve Well
At Clark Asset Management, we focus on portfolio management and structure; building balanced portfolios in our endeavor to foster the growth of individual and family wealth. The greater likelihood of stability of returns may be appreciated more by people nearing or being in retirement, as well as others looking for long-term investment growth. Some institutions may also value this, as we additionally utilize techniques oriented to growth and appreciation. Many of those who have chosen Clark Asset Management as their portfolio manager were retired and over fifty years of age; however, we also have many second and third generation clients. Clark Asset Management + Associates, Inc. is registered as an Investment Advisor in the states of California, Oklahoma, and Texas.