Between registered investment advisors, traditional stock brokerages, financial planners, and self-management, our clients have thousands of alternatives for the management of their money. Here are five reasons why our clients have engaged Heron Capital Management as their investment advisor.

Experience, Perspective and Discipline - David Edwards, president and portfolio manager of Heron Capital Management, has been continuously employed in the securities industry since 1983. He has the perspective to know which strategies yield the best long term results and the discipline to hold to these strategies through inevitable corrections and bear markets.

Service - When our clients have a problem or a concern, they don't want to speak with a phone system, a salesperson, or an assistant; they want to connect immediately with their portfolio manager. All clients of Heron Capital have access to David Edwards via telephone or e-mail. If we can't answer your question directly (for example, a complex tax or estate issue) we will find you the person who can.

Using Fidelity Investments as custodian provides our clients with a host of products and services. Heron Capital is your single point of contact in accessing these products and services.

Clients' assets are managed in separate accounts, which allows the portfolio manager maximum flexibility in tuning the investment strategy to the clients' specific goals, needs, risk tolerance and tax situation.

Taxes - At Heron Capital, we make recommendations to our clients about strategies to minimize taxes by placing maximum amounts in tax-deferred accounts. We also seek to defer taxes in taxable accounts by holding stocks for an average of five years and by taking losses where practical to offset realized gains. We seek to hold stocks for a minimum of 18 months to ensure that the lowest possible capital gains rate applies. (Mutual fund turnover averages 100%/year, which means capital gains are owed in taxable accounts every year.) Our portfolio management system keeps careful track of split adjusted cost bases, commissions paid and holding periods. Our clients' accountants thank us every year for our concise, complete, year end report.

Alignment of Interests - Heron Capital Management has a very simple advisory fee structure: 1% of assets under management/year(paid quarterly)for the first $2 million in assets, 0.75% of assets on the remainder. The larger a client's account grows, the larger our fee grows. With our interests aligned with our clients, our incentive is to avoid risks which would harm capital, minimize taxes commissions and trading costs, and focus our research on those securities which offer "Growth at a Reasonable Price." We purposely do not seek performance fees (bonuses for returns exceeding certain benchmarks) because we believe those fees encourage the investment advisor to take inappropriate risks.