Portfolio Review
Portfolio Review
Review your investment portfolio for risk, tax drag, concentration, fees, and retirement income alignment.
Most portfolios accumulate complexity faster than they accumulate strategy. The Portfolio Review surfaces the issues that erode after-tax returns most — fund overlap, expense ratios, concentration in a single position or sector, asset location inefficiency, and a portfolio out of step with the household's actual time horizon.
We see the same patterns over and over. Ten overlapping large-cap funds that effectively all hold the same companies. Expense ratios that look low individually and stack to a meaningful drag in aggregate. Bonds sitting in a Roth IRA, wasting the most tax-favored account in the household on the lowest expected return. Concentrated employer stock that has been there for fifteen years through habit, not strategy. None of these are sophisticated mistakes. They are common mistakes that compound quietly.
What We Review
- Asset allocation vs. household time horizon and risk tolerance
- Expense ratios and embedded fund fees
- Concentration in employer stock or single positions
- Asset location across taxable, tax-deferred, and Roth accounts
- Tax drag and realized gain history
- Rebalancing discipline and trading costs
Asset Location in Particular
Asset location — which account type holds which asset class — is one of the largest no-cost return drivers in a multi-account household. It is also one of the most consistently ignored. The principle: hold tax-inefficient assets — bonds, REITs, actively managed funds — in tax-deferred or Roth accounts, and tax-efficient assets — broad-market index equities — in taxable. Most household portfolios get this exactly backwards and pay the tax drag every year.
The portfolio review surfaces the household's asset-location score, the projected after-tax compounding impact of fixing it, and the specific moves required in each account.