Welcome to Heintzberger | Payne
Heintzberger | Payne Advisors (formerly Northwest Capital Management, Inc.) is an investment advisor registered with the Securities and Exchange Commission. Our clients are retirement plan sponsors, institutional investors, charitable organizations and high-net worth individuals. For some, we act purely in a consulting capacity. For most clients, we act with full discretion, within the constraints of a clearly defined Statement of Investment Policy (or SIP, for short), in the management of their assets. Many of our clients are retirement plan sponsors. For these clients, we act in the capacity as an Investment Manager (as defined by ERISA) in order to alleviate the sponsor of much of its fiduciary liability.
An essential element of our advisory services is the creation of the SIP, a document that sets forth the authority given to us for asset management while establishing the benchmarks against which performance is measured. The process of creating the SIP requires that we come to know the Client's investment objectives and their expectation for performance.
We extensively employ technology to facilitate our communication with clients about the management of their portfolios. Updates regarding transactions and investment performance are posted daily. In addition, we send by mail quarterly performance reports.
Circular Logic and Imaginative Financing Schemes
Amid continued unprecedented quantitative easing measures, the S&P 500 broke past levels that were last seen before the onset of the financial crisis as US stocks finished the quarter with gains of about 10.6% when considering reinvested dividends. Foreign stocks did not keep pace with their US counterparts, and despite being a strong quarter for stocks, US Government and higher-quality bonds pulled back moderately while lower-quality bonds provided gains.
A New Year's Resolution
Congress ushered in the New Year with a resolution of its own, a vote many believe helped prevent an immediate recession that would have risen from the tax increases and dramatic spending cuts embedded in the much-discussed, closely-watched, and widely-publicized "fiscal cliff." As expected, it was an especially nasty series of political negotiations.