Why We Built Longview Research Partners
Longview Research Partners was born from a simple realization: the biggest opportunities to improve investor outcomes aren’t always found in discovering new investment theses. They’re often found in implementing existing ones better.
For much of my career, I worked in asset management, focused on identifying the investments investors should own. The research was fascinating, and the evidence behind diversified, systematic investing has never been stronger.
But after becoming Chief Investment Officer of Hill Investment Group, my perspective changed.
As an advisor, I stopped asking, “How do we build a better fund?” and started asking, “What problem is the client actually trying to solve?”
Clients don’t measure success by how closely their portfolio matched an index. They care about retiring earlier, paying less in taxes, leaving more to their families, and having confidence that their financial plan will work.
Those questions led us to create Longview Research Partners.
Our first ETF, EBI, reflected this philosophy by focusing on implementing evidence-based investing without compromise. Rather than reinventing decades of academic research, we sought to deliver it more effectively through thoughtful portfolio construction and implementation.
As we worked with clients, however, another opportunity became impossible to ignore.
In taxable fixed income, advisors routinely debate whether a bond fund costs 0.18% or 0.22%. Yet the annual tax bill generated by those same portfolios can have a far greater impact on a client’s long-term wealth than a few basis points of expenses.
Clients don’t experience pre-tax returns. They experience after-tax wealth.
That realization ultimately led to the creation of LVIG.
Many people ask whether LVIG is designed to beat the market. We think that’s the wrong question. Outperformance from picking individual bonds is uncertain.
Alpha is uncertain. It depends on markets and manager skill. The tax drag created by traditional taxable bond funds is not. Investors in taxable accounts generally receive taxable distributions every year. Reducing that drag isn’t a market prediction…it’s better implementation.
Perhaps most importantly, we wanted to simplify advisors’ lives. Financial innovation too often creates another decision, another optimization, or another layer of complexity. We believe the best innovation does the opposite. By making taxable fixed income significantly more tax-efficient, advisors can spend less time worrying about asset location and more time focusing on the planning decisions that truly improve clients’ lives.
That’s the philosophy behind Longview Research Partners.
We’re advisors first. We build investment solutions the same way we evaluate them for our own clients…starting with the real-world problems investors face and designing implementations that strive to help solve them.
If you’re like us, you’ve spent years trying to build a firm that never becomes too comfortable, too certain, or too satisfied with yesterday’s answers. You believe stewardship requires curiosity. You know our profession demands humility. And you’ve probably discovered that, from time to time, serving clients well means having the courage to question even the ideas and institutions you admire most—not because you want to be different or have doubt in them, but because you continue to stretch and challenge yourself and know that your clients deserve your very best thinking.
Prospectus can be found by visiting this page.
You should consider the investment objectives, risks, and charges and expenses carefully before you invest in the Longview Advantage Fund (the “Fund”). The Fund’s prospectus or summary prospectus, which can be obtained by visiting www.longviewresearchpartners.com, contains this and other information about the fund, and should be read carefully before investing.
Investing involves risk, including possible loss of principal.
Fixed Income Securities Risk. Fixed-income securities are subject to the risk of the issuer’s inability to meet principal and interest payments on its obligations (i.e., credit risk) and are subject to price volatility resulting from, among other things, interest rate sensitivity, market perception of the creditworthiness of the issuer, willingness of broker-dealers and other market participants to make markets in the applicable securities, and general market liquidity.
Distributed by Quasar Distributors, LLC. Quasar is not related to Hill Investment Group Partners, LLC d/b/a Longview Research Partners, the fund’s Investment Adviser.
