Investment management
Investment Management, Not Set-and-Forget.
The value is not simply having access to stocks and ETFs. It is deciding what deserves a place in the portfolio, how much to own, what role it serves, and when the original investment rationale has changed.
Once the strategy is clear, we manage the portfolio directly, combining long-term investing, in-house research, ongoing risk review, and selective options strategies where appropriate. You work directly with the people making portfolio decisions and can understand the reasoning behind them.
Based in Naples, providing investment management to investors and retirees throughout Southwest Florida, with clients also served in New York and New Jersey. See our locations.
How We Approach Investing
Research-Driven Core Holdings
We invest in individual companies and targeted, sector-specific ETFs selected through in-house research, each chosen for a defined role in the broader portfolio rather than simply because it belongs in a benchmark.
Active Review, Not Set-and-Forget
We continually evaluate concentration, position size, cash levels, valuation, changing fundamentals, and portfolio risk alongside what you need your capital to accomplish.
Selective Strategies, Where Appropriate
Options may be used selectively for income, hedging, or defined-risk opportunities when they serve a clear purpose in the portfolio. They are a tool, not a default allocation.
How We Build and Review Your Portfolio
- Understand the full picture. We review your accounts, time horizon, income and liquidity needs, tax considerations, and tolerance for risk before recommending changes.
- Put the strategy in writing. The recommended approach, account structure, and key risks are documented so you can understand both the recommendation and the reasoning behind it before anything is implemented.
- Build with intent. Individual stocks and targeted ETFs are selected through in-house research for the role each is intended to play in the broader portfolio.
- Manage and monitor. We monitor portfolios on an ongoing basis, conduct formal account reviews at least quarterly, and make adjustments as markets, fundamentals, risks, and your goals change.
- Revisit the investment rationale. Positions are generally entered with a long-term view, but long-term does not mean permanent. We reconsider a holding when the facts, valuation, risks, or original rationale have materially changed.
Investment Management During Retirement
Retirement changes the job of your portfolio. Once withdrawals begin, the portfolio must help fund spending while still supporting the years ahead.
We consider near-term spending needs, cash reserves, investment risk, concentration, income sources, and how much of the portfolio should remain positioned for longer-term growth. Maintaining appropriate liquidity can also reduce the likelihood that near-term spending forces investments to be sold during an unfavorable market.
Large one-time expenses, changes in income, concentrated positions, and evolving spending needs can all prompt a fresh review. Withdrawal decisions may also affect portfolio allocation and taxes.
Selective Strategies: Purpose and Risks
Options may be used selectively for income, hedging, or defined-risk opportunities when they serve a specific purpose within the portfolio. They are not a default allocation and are not appropriate for every client or account.
Because options contracts can represent a meaningful amount of capital, account size matters when determining whether they can be used without creating inappropriate concentration or risk. We generally reserve options strategies for household relationships with at least $100,000 in managed assets.
Even above that level, options are used only when we believe the strategy, position size, liquidity, and client circumstances support their use.
Accounts We Manage
| Account | Managed by Juth? | Notes |
|---|---|---|
| Individual brokerage account (taxable) | Yes | Held in your name at Interactive Brokers. |
| Traditional IRA | Yes | Held in your name at Interactive Brokers. Withdrawals are generally taxable. |
| Roth IRA | Yes | Held in your name at Interactive Brokers and considered alongside the rest of your financial plan. |
| Rollover IRA | Yes, when a rollover is appropriate | A traditional IRA funded from an employer-sponsored plan. We evaluate whether a rollover makes sense before recommending one. See rollover guidance → |
| 401(k), 403(b), and other workplace plans | Reviewed, not managed | We can review employer-sponsored accounts and consider how they fit into your broader strategy, although we do not manage the plan directly. |
Household relationships with $100,000 or more in managed assets may have access to the firm’s broader investment-management framework, including selective options strategies where appropriate.
We work with accounts below $100,000. Portfolio construction and the strategies used depend on account size, objectives, risk tolerance, and what can be implemented responsibly.
Where Your Assets Are Held
Your managed accounts remain in your name at Interactive Brokers, an independent qualified custodian.
Juth has discretionary trading authority over managed accounts and may instruct the custodian to deduct authorized advisory fees, but client assets remain at the custodian and are not held by Juth.
You receive account statements directly from Interactive Brokers and can log in to review holdings and account activity at any time.
Investment Management Fees and Strategy Eligibility
Annual advisory fee on assets under management.
Advisory fees are calculated and billed monthly in arrears as described in our Form ADV and advisory agreement.
We serve clients with less than $100,000 in managed assets as well, but some strategies may not be appropriate or available for implementation at smaller account sizes.
No Product Commissions
Juth does not receive product commissions, sales loads, revenue-sharing payments, or performance fees.
The advisory fee is not an all-in investment cost. Third-party expenses, including applicable brokerage charges, custodial fees, ETF expense ratios, and options-related transaction costs, may still apply. These costs are not paid to Juth.
Full fee terms are described in our Form ADV Part 2A (PDF) (opens in a new tab) and advisory agreement. Investing involves risk, including possible loss of principal.
Investment Management Questions
Who actually makes the investment decisions?
The firm’s principals do. Jonathan Grogan leads investment research and portfolio construction, and clients work directly with Jonathan and Ruth throughout the advisory relationship. Portfolio decisions are not handed off to a separate relationship-management team.
What is the minimum account size?
Household relationships with $100,000 or more in managed assets may be eligible for our broader investment-management framework, including selective options strategies where appropriate.
We work with clients below $100,000, but not all firm strategies will be eligible for implementation. The portfolio and strategies used are tailored to the amount being managed, your objectives, risk tolerance, and what can be implemented responsibly.
Why are some strategies limited to larger accounts?
Some investment positions can represent a meaningful portion of a smaller portfolio. We do not want access to a strategy to come at the expense of appropriate position sizing, liquidity, or diversification.
As account size increases, we may have greater flexibility to use additional tools while keeping each position appropriately sized within the overall portfolio.
How often are portfolios reviewed?
Managed accounts are monitored on an ongoing basis and formally reviewed at least quarterly. We encourage an annual meeting to revisit the broader financial picture, and you can reach us directly when your circumstances or priorities change.
Can I restrict certain investments?
Yes. Clients may request reasonable restrictions on specific securities, industries, or asset classes. Restrictions can affect how the portfolio is constructed and managed.
Do the founders invest their own money using the firm’s process?
Yes. The founders’ personal investment accounts are also held at Interactive Brokers and are managed subject to the firm’s investment process, trade-allocation procedures, Code of Ethics, and personal-trading policies.
That does not mean every client holds the same investments, receives the same trades, or experiences the same results.
Can I leave the advisory relationship?
Yes. You may terminate the relationship in accordance with the advisory agreement by providing the required notice. Fees are prorated through the termination date, and your assets remain in your name at the independent custodian.
Related: Financial planning · Retirement planning with a CPA perspective · IRA & 401(k) rollover guidance · The founders · Disclosures
