Professional Advisory Services Inc

Professional Advisory Services, Inc. (PASI) was founded in 1977 by Kenneth M. Ligon and Ronald J. Jaffe, M.D., with a focus on integrity and personalized service. As one of the largest independent money management firms in Florida, PASI manages $1,201,355,718 in assets for clients across 32 states. The firm operates on a discretionary basis, with an investment committee determining holdings in the core portfolio. PASI acts as a fiduciary, prioritizing client interests in all dealings. The firm primarily invests in high-quality stocks and investment-grade corporate and municipal bonds, tailored to each client's risk tolerance and financial situation. PASI charges an annual fee starting at 1%, with a declining rate structure for higher asset values. The firm does not engage in performance-based fees or side-by-side management. While there is no stated minimum balance to open an account, most clients have investable balances of $100,000 or more. PASI conducts fundamental analysis for equity investments and credit analysis for fixed income securities. The firm's investment process aims to mitigate market and company-specific risks while seeking capital appreciation and income. PASI maintains a Code of Ethics, participates in client transactions, and votes proxies in clients' best interests. Clients receive quarterly statements from unrelated qualified custodians, and PASI has never had any disciplinary events since its establishment.