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Investments

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Investments

Highly customized portfolios are designed to fit your family.  We are skilled in the analysis of businesses, industries and the macro-economy.  Confluence provides clients with advice and management across a range of asset classes, including publicly traded stocks and bonds, real estate, private equity and credit, hedge funds, etc.  Confluence integrates well with existing portfolios, including those that contain large amounts of illiquid holdings (those that are not easy to buy and sell), such as real estate and other privately held investments. 

Uniquely Customized Portfolios

Confluence builds highly customized portfolios that match your values. We recognize your uniqueness and believe that your portfolio should reflect that.  This uniqueness is achieved by first seeking to understand what drives your investment thought process - exploring your desires, fears, and investment history.

 

Constantly assessing what the market has to offer, we seek out investments that not only provide diversification but also offer attractive risk-adjusted returns.  This entails utilizing the traditional asset classes of stocks and bonds, as well as layering in “alternatives” when appropriate.  Alternatives are not mainstream investments, but for those with experience and knowledge, they can be worthwhile, offering attractive returns, additional diversification, and in some cases, performance that is “uncorrelated” to stocks, bonds, and the economy.  Examples of alternatives can include: real estate, private equity and credit, and hedge funds.

Maintaining a culture of full transparency is important to us.  All of our clients’ liquid securities are held with an independent third-party custodian, Charles Schwab Corporation.

Investment Strategy

We are fundamentally driven, long-term value investors, with a focus on management quality, cash flow generation, and balance sheet strength.  This style has proven over time to produce superior returns. Not only does the empirical evidence support the value investing style, it also makes intuitive sense to us and fits with who we are.

 

An intensive bottom-up research process is combined with a macroeconomic overlay.  Confluence strives to understand investments from the ground up, evaluating businesses and people, and assessing value through the analysis of cash flows and balance sheets.  The intrinsic value must exceed the price we pay, producing a reasonable margin of safety.  We strive to balance the upside potential of investments while minimizing the probability of permanent capital losses.

 

In addition to understanding the ground-level details of investments, Confluence believes that it is equally as important to discern the state of business and market cycles.  We have gained a unique perspective, having been in the trenches, seeing firsthand how poor decisions can have lasting impacts on companies, industries, and communities.  Confluence strives to identify and avoid these pitfalls with the objective of long-term capital preservation.  To learn more about how our passion for investing developed, please read our letter, Personal Value in Valuation.

 

We love to discuss investments and welcome detailed conversations, ranging from individual security positions to the current business and market cycle and how these potentially impact your portfolio.

Investment Performance

While investment performance isn’t everything, others try to make it about everything but performance.  Confluence prides itself on its investment process, performance track record, and deep experience solving complex financial issues. 

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Our goal is to protect your financial future and give you confidence.

OUR SERVICES

The Confluence Difference

You are probably wondering, why should I work with you? Or, what will be different for me and my family working with you?  Our firm is built on the principles of honesty, integrity, and objective decision-making.  From legacy planning to tax advisory and compliance, we have everything you need to simplify your life … all in one place.

As a fiduciary, we promise that you:

  • Are served with dedication, loyalty, and aspirations of building a true partnership.

  • Benefit from interests that are aligned.

  • Are recognized as unique, will be heard and understood, and will obtain a highly customized financial solution that fits you.

  • Are coordinating with a partner that believes in honesty, integrity, and objective decision-making.

  • Are not beholden to the desires of a large institution with its own sales agenda.

  • Receive expertise in complex financial analysis, valuation, and portfolio management.

  • Are Served by a firm that is proud of its investment performance track record.

  • Are advantaged by working directly with the owner of a firm.

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Why Choose Confluence

We Inspire Long-Term Financial Success

Confluence Capital Advisors is an independent firm serving Encino and Greater Los Angeles with a deep commitment to providing guidance that is free of conflicts of interest, based solely on the sum of our experience and expertise. We are committed to putting client interests first and to stewarding both wealth and well-being for those we serve. We have a singular measure of success: the results we get for our clients.

Brett Cicinelli brings over two decades of financial and analytical experience to work for clients.  He teaches a post-graduate course on Alternative Investing Strategies. Brett also earned the designations of Chartered Financial Analyst (CFA), Certified Financial Planner® (CFP®), Certified Divorce Financial Analyst® (CDFA®), and Master Analyst in Financial Forensics® (MAFF®).