Guidelines for Product and Service Providers

We have good news for those who would like us to use their products and services. We will help you use your time more productively. All you need to do is read this before requesting a block of our time.

Seven Things to Know About Us:
1. We work hard to attract, train and retain clients who understand and tolerate volatility as a normal and integral part of long term investing.
2. We believe that ‘volatility is not risk,’ in the words of Warren Buffett.
3. We are a research and portfolio management shop, not a sales organization.
4. We believe conventional wisdom is usually not wise.
5. We value liquidity.
6. The better our clients do, the better off we will be.
7. Our only business objective is to grow the buckets of the clients.

Three Suggestions:

1. Help us find ways to seek to build the client buckets over the long term, without regard to volatility or popularity.
2. Tell us what popular investments are drawing the most money and buzz; that may give us clues about what to avoid.
3. Share perspectives and research and resources, not sales ideas.

Don’ts:
• Don’t try to help us find more people to talk to. We’re busy with our clients.
• Don’t show us new products that have no track record.
• Don’t call us if your organization lacks a stable history of ownership.
• Don’t bring information about non-liquid or high expense products.
• Don’t try to debate our beliefs or principles.

We are voracious consumers of ideas and information. If you can help us, please call. If in doubt, email Greg.Leibman@lpl.com. If we are not a fit based on the information presented here, find a better prospect than us. Thank you.