Lummis Asset Management, L.p.

Lummis Asset Management, L.P. is a Fort Worth-based firm established in 1999, specializing in portfolio management, investment advice, and investment planning services. President P. Bradley Lummis, the principal portfolio manager, emphasizes a long-term investment focus of three to five years. The firm constructs investment portfolios tailored to client needs, comprising stocks, bonds, mutual funds, and ETFs. Fees are based on a tiered structure, with annual fees ranging from 0.50% to 1.00% depending on the asset class. Clients grant the firm investment discretion, allowing Lummis Asset Management to make investment decisions on their behalf. The firm serves individuals, high net-worth individuals, charitable organizations, and businesses with a minimum of $1,000,000 to invest. Lummis Asset Management's investment philosophy focuses on compounding wealth through equities and conservative bond investments. The firm's low portfolio turnover and tax-sensitive approach aim to preserve capital and achieve long-term growth. Clients receive regular portfolio reviews and reports, with a quarterly market update newsletter provided. The firm's ethical standards prioritize client interests, and employees adhere to a Code of Ethics. Lummis Asset Management does not have any legal or disciplinary events to report and maintains transparent custody arrangements with a qualified custodian. Clients can request information on proxy voting decisions and have access to financial information about the firm.