There’s an old parenting quip, “the days are long, but the years are short.” The saying can be attributed to parents of young children who feel like the difficult stage will never end. Time eventually passes, the kids grow up, and the parents yearn for when the kids were young.
The same principle applies to Pure Portfolios’ journey. Between volatile markets, geopolitics, and an active Federal Reserve, we’ve had no shortage of long days.
We reflect on the whirlwind of 2023 that seemingly flew by.
It is important to us that we discount fees for qualified clients* during difficult markets (2022 was historically difficult). This isn’t a promise to beat the market, rather a cleaner alignment of incentives. We feel our compensation should be tied to a client’s outcome. This approach emphasizes transparency and a shared interest in achieving your financial goals.
We’ve also learned discounting fees forces us to run the business efficiently. We are constantly looking for ways to streamline operational processes and client deliverables. For example, we leveraged the power of AI technology to streamline our back-office processes and generate content ideas.
A priority is to invest in and improve Pure Portfolios’ client experience. We added Holistiplan software to our technology offering to help identify tax saving opportunities for clients. We partnered with a local tax planner that specializes in advanced planning for business owners; specializing in stock options, real estate, and estate planning. We are not CPAs, however, these collaborations ensure that clients with complex tax situations are being offered guidance.
We continue to communicate and educate through our blog, podcast, videos, and newsletter. A focus for 2024 is to get every associate involved in the content producing process. This will showcase the depth of our talent and help clients get to know their advisor. We understand most of our clients are flooded with information from social & traditional media. We hope to provide an objective voice amongst the noise.
We hired Tim Metz as an additional advisor in October 2023. Tim’s journey started in Hong Kong, and he recently relocated to Oregon from Nevada. Tim’s global experience brings a unique perspective to Pure Portfolios and our clients. We look forward to introducing Tim as part of our client facing team in early 2024.
Pure Portfolios continues to grow our assets under management. As of 1/3/2023, we manage over $290 million for clients across 17 states.
We are most proud of our ability to grow without doing any traditional sales activity (nor do any of our advisors have sales goals). Potential clients find us through Google, social media, or our Sunday Coffee Reads newsletter. This allows our team to focus on the work our clients hire us to do, rather than chasing the next deal.
We want to express our appreciation for your continued support and trust in Pure Portfolios. Our entire team remains dedicated to serving you with the highest standards of professionalism, expertise, and client-focused solutions.
Wishing you a prosperous and fulfilling year ahead.
Nik Schuurmans, CFA
Toby Weber, CFA
*For qualified investors on Pure’s Downside Protection fee schedule