Our Vision for the Decade Ahead
Today, we share our vision for the next decade and beyond. However, before doing so, a heartfelt thank you to everyone reading this letter. Our success is a result of many relationships forged over time. We greatly appreciate your past, current and future support.
EPIQ Partners was founded as and remains an independent investment firm. We bring counsel and solutions to complex households and sophisticated investors. Our success is due in part to the alignment of interests and our core values of Partnership, Authenticity, Curiosity and Empathy We are driven to provide high touch service; access to alternative (non-public) investments; and structure efficient public market equity and fixed income portfolios. In addition, EPIQ’s retainer-based fee structure remains uncommon within the investment management industry. We plan to leave these components in place while striving to be more proactive in our outbound communication, enhance our commitment to accessibility, and improve clarity in reporting results.
We envision that EPIQ will remain independent, owned and operated by its investment principals even after the founders are no longer active. Although they have shared their intent and desire to be a part of EPIQ for as long as they remain capable, the future of the firm will eventually reside with others. We are pleased with the character and intellect of the next generation at EPIQ and believe they will play an integral part in the firm’s future.
EPIQ has and will continue to lead with investment merit in advising and constructing investment portfolios. Our goal is to meet client objectives while adhering to their preferences and constraints. We accomplish this by blending the best of what is possible in public and, where appropriate, private markets. Proprietary security selection can complement broad based indexing and direct investments in private entities. The management of risk and how it is perceived by the client is always present in the analysis and deployment of individual client accounts.
EPIQ Core Values:
Partnership and our commitment to it is a big part of what we believe makes EPIQ special. Clients receive premier care from a team that is accessible whether to discuss strategy, review positions, address administrative issues, or discuss topics essential to life. If it is important to our clients, it is important to us. The other partnerships we curate within the EPIQ sphere include access and coordination to other managers and professional service providers. We develop all our relationships on a foundation of trust and transparency. This is infinitely more important than any transaction. Nurturing our relationships is vital to our strategic success.
Authenticity allows us to be our natural selves. There is ego in business, and it tends to be amplified in the investment management industry. We maintain a culture of humility and have been privileged to attract like-minded professionals. We are fortunate and believe the EPIQ whole is greater than the sum of the parts.
Curiosity is at the heart of work. In a world of infinite information, it is skill and experience that drives an informed decision. We strive every day to seek out new knowledge with the anticipation that it will lead to greater understanding. It is this insight that drives greater confidence in our advice.
Empathy allows us to put ourselves in the circumstances of others. Some of this awareness comes from our personal journeys, the rest from our years of collective experience. Having the view that we are building solutions from the perspective of our partners has proved to be valuable for all.
The EPIQ team lives the ‘partnership’ mentality and is a cross-functional organization. However, for clarification, we provide a summary of primary roles and responsibilities.
Bruce Langer, CFA - Managing Partner / Chief Executive Officer
• Relationship management (current and future clients) • asset allocation and financial planning • research, due diligence, and direct investment management • investment committee • vision leader
Dan Aronson, CFA - Managing Partner / Chief Investment Officer
• Investment and strategy lead • portfolio management and security selection • investment committee • asset allocation and financial planning • research, due diligence, and direct investment management • relationship management
Ben Frey, CTP – Partner / Chief Operating Officer and Chief Compliance Officer
• Trading operations • portfolio accounting and reporting • investment committee • investment idea generation • compliance • client service and relationship management
Julie Ellison - Office Manager
• Client service and support • account maintenance • event coordinator • administration
Noah Haverdink - Analyst
• Research • financial planning • investment committee • firm impact analyst • direct investment analyst • portfolio accounting and reporting
In summary, we are committed to growth that is consistent with our values, capacity, and intention. We intend to grow EPIQ in a fashion that improves benefits to all. We envision expanding the EPIQ team to support client and portfolio growth at a measured pace to ensure our high standards of performance are not only maintained but enhanced.
Success comes with a vision and a plan. We would not be where we are, or look forward with such confidence, without you, the readers of this note. Thank you again. Please reach out to continue the conversation.
Lastly, we are excited to bring back the EPIQ Clambake, scheduled for the late afternoon of June 21st. We look forward to great conversations, food and beverages. We will be joined by, and hear from, retired Star Tribune journalist Lee Schafer. Please contact us for an invitation.
Respectfully,
Bruce Langer, CFA Ben Frey, CTP Julie Ellison Noah Haverdink Daniel Aronson, CFA