We do not have any professional or personal affiliations with financial institutions or investment managers.

We do not sell any financial products or services to investment managers.

We do not accept soft dollar payments or fee-sharing arrangements from investment managers.

All consulting fees are hard-dollar, fully disclosed and paid quarterly in arrears.

Our consulting fees include all services (investment policy development, asset allocation analysis, performance evaluation, manager searches, and meetings).

The principals have a substantial amount of their net worth invested in the funds.

We do not invest in individual transactions or deals.

We receive no compensation from managers in which we invest.

All management fees are fully disclosed and paid quarterly in advance as a percentage of assets.