Long-term success in investing is dependent upon three attributes:

• Discipline
• Access to Top Managers
• Careful Implementation

Convergent provides you with discipline through asset allocation, and our extensive manager research results in access to top managers. However, the importance of portfolio implementation is often overshadowed by the constant focus on the value added by asset allocation and manager selection. 

We emphasize implementation to preserve the full value created in the asset allocation and manager selection processes. In this regard, we do not believe that one size fits all and therefore evaluate implementation for each client situation independently.

During implementation, investors must:

• Focus on making the few key decisions well  
• Employ entrepreneurial managers running well below capacity within their strategy
• Minimize transaction costs
• Be contrarian by under-emphasizing popular strategies