Fixed Income Portfolio

Happy Senior Couple on the Bow of a Sail Boat

The Fixed Income Portfolio Strategy is actively managed on a daily basis to deliver dividends in the range of 4-8%/yr.

This portfolio typically contains ETFs (Exchange Traded Funds) and/or mutual funds.  All positions in this portfolio are chosen for their dividend stability based on historical performance.

It also may contain publicly traded REITs (Real Estate Investment Trusts), as well as high yield bonds,  master limited partnerships and utility ETFs.  This portfolio has the potential to generate significant monthly dividends for retirees on fixed income.  Additional asset types may be added from time to time based on potential income versus risk/reward.

In addition, positions in this portfolio are chosen to minimize the impact of increasing interest rates on the price of the asset.

Core Equities Portfolio


The Strategic Investment Portfolio Strategy consists of equities designed for growth over a 3-5 year horizon.  This strategy utilizes mutual funds selected from a list of more than 17,000 funds using a proprietary process.

As a fiduciary investment firm, PWA is free of any conflicts of interest in choosing mutual funds.  This may not be the case in a commission-based, large wire house that has close relationships with various mutual fund families.

Our proprietary process selects the “best performing” mutual funds without concern for “brand affiliation”.  This process also reduces risk in each portfolio.  For example, if two large cap funds have similar performance over a 1, 3 and 5-year period, we will select the fund with the lowest risk. Also, given similar performance, we will purchase “institutional class” funds with the lowest fees.  We never purchase mutual funds with a “front end” or “back end” load charge.

Tactical Equities Portfolio

Two elders reading financial news. Camera Canon 5D f:1.4 selective focus

The Tactical Investment Portfolio Strategy is growth-oriented and more actively traded than our other portfolios.

Its objective is to take advantage of “opportunity trades”  using Exchange Traded Funds (ETFs) that move either in tandem or opposite to the major market indices.  For example, if the S&P 500 is “flat” or moving down, we will search and purchase one of over 5,000 ETFs that are currently increasing in value to help offset any portfolio decrease in the major market indices.

Examples of this strategy might be the purchase of a gold ETF, or sector ETF, such as biotech, crude oil, emerging foreign markets, etc.   Tactical Investment Portfolio trades typically last from 1-3 months vs 6-12 months for the Strategic portfolio.

Each portfolio is customized to the needs of each client based on a detailed, retirement planning analysis using MoneyGuidePro software.  For most retirees, the typical portfolio would consist of about 65% FIPS, 15% TIPS, 15% SIPS and 5% cash.