Wealth Management

A bottom-up, active approach to preserving and growing your capital

Investment Objective

Our investment objective is to preserve and grow your capital over the long term. We do this by adhering to a consistent investment philosophy that aims to build portfolios that can weather different economic cycles and create sustainable generational wealth.

Core Tenets of Investment Philosophy

This table shows the core tenets of BBH’s investment philosophy, which include active management, concentration, and bottom-up fundamental research; a unique view of risk; an intrinsic value/margin of safety framework; and a disciplined, patient, and long-term ownership perspective.
Active Management, Concentration; Bottom-Up Fundamental Research	Unique View of Risk	Intrinsic Value/Margin of Safety Framework	Disciplined, Patient, Long-Term Ownership Perspective
Conduct rigorous fundamental analysis to project potential investment’s value	Believe biggest threat to financial health is capital impairment and inflation, not volatility	Seek strategies that invest in securities trading below their intrinsic value¹ estimate	Believe waiting for an investment to realize value is the surest path to exceptional long-term returns
Partner with managers who have concentrated portfolios in which they know what they own and why	View market volatility as opportunity to buy high-quality assets at a discount to valuation	Insist on providing a margin of safety²	Hold cash when there are no attractive opportunities; sell when investments no longer offer acceptable returns relative to loss potential

¹Intrinsic value represents what we believe to be the value of a security based on our analysis of both tangible and intangible factors.

²A margin of safety exists when we believe there is a significant discount to intrinsic value at the time of purchase.

How We Construct Our Policy Portfolios

We collaborate with clients on a customized asset allocation that reflects their return expectations and liquidity needs. We seek to preserve and grow our clients’ capital in the long run by adhering to a disciplined, patient long-term investment philosophy. These beliefs are core to how we invest as a firm, and we do not deviate from them in times of market stress, nor do we deviate from them to chase returns. Our clients appreciate our patient, consistent approach to investing.

Read Infographic Text Version

How We Construct Our Portfolios graphic shows the spectrum of BBH Policy Portfolios, including Stable Value, Balanced, Balanced Growth and Growth. It covers where these fall in terms of Return Objectives, Income Objectives, Liquidity, Likelihood of Volatility/Drawdowns and Definition of Risk. On one end of the spectrum is the Stable Value portfolio, which has a narrower range of outcomes. Its return objective is preservation of purchasing power and capital, its income objective is higher, its liquidity is higher, its likelihood of price volatility/drawdowns is lower, and its definition of risk is permanent capital impairment and failure to meet spending needs. On the other end of the spectrum is the Growth portfolio, which has a wider range of outcomes. Its return objective is preservation of purchasing power and growth of wealth over time above inflation, its income objective is lower, its liquidity is lower, its likelihood or price volatility/drawdowns is higher and its definition of risk is permanent capital impairment and failure to beat inflation.

Asset Allocation and Beyond: A Personalized Approach to Portfolio Construction

The Investment Research Group takes a closer look at the sophisticated frameworks we use to enhance the traditional portfolio construction process.

Justin Reed

Partner

Capital Partners

New York City, NY | USA

Justin Reed is a Partner of BBH and the Chief Investment Officer. In this role, he leads the Investment Research Group, which is responsible for asset allocation, manager selection and monitoring,… Learn More

InvestorView summer issue 2025

In this issue of InvestorView, we provide a deep dive on debt and deficits, explore the possibilities of independent return strategies, and take a look at our approach to managing fixed income in uncertain environments. We also outline ideas for how trust beneficiaries can learn more about their roles and responsibilities.

Investment Research Group

Our Investment Research Group partners with like-minded investors to preserve and grow our clients’ capital over the long term.

Learn more here

The ultimate alignment of interests

Our investment process begins with you. To create your long-term wealth and investment plan, we first seek to understand your unique circumstances. We work with you and your family to identify your values, priorities, and short- and long-term objectives to help you connect your wealth plans to your goals and your goals to your values. Only then do we create a plan that is tailored to meet your objectives.

As owner-operators, our executives manage clients’ investments as if they were their own, because they are. The fact that we co-invest with our clients creates a unique investment culture and a distinct alignment of interests.

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This communication is for informational purposes only. The information herein has not been based on a consideration of any individual investor’s circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice. Individuals should consult their personal tax, accounting and legal advisers regarding any potential investment or strategy. Any views and opinions are subject to change at any time.

This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized to do so.

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