It only seems yesterday (September 1993) that Heron Financial Group commenced operations with two clients. Our initial incorporation was Heron Capital Management, reflecting our original focus as mid-cap growth stock managers. However, as our clients' needs evolved, so did our firm. Our mid-cap picks grew into large caps, and we also added small cap, value and international stocks to our portfolios to increase diversification and reduce risk.
Our clients asked, "Is my all-stock portfolio right for my retirement." "No!" we said, "You need bonds to reduce the risk of stocks in retirement." So we began building balanced portfolios.
From time to time, we took on clients that preferred to be in mutual funds and ETF's rather than individual stocks and bonds, so we created a second investment platform to accommodate those clients. For clients with at least $5 million in investable assets, we created a third strategy - the "Manager of Managers" platform - where we spread the client's assets across multiple managers, manage the cash flows and operations, and provide the performance benchmarking and analysis.