Unbiased advice, rendered solely in the best interest of our clients.

Long-term relationships founded on trust, integrity and a high standard of ethics.

Dillon & Associates is an independent firm that provides investment counsel to individuals, businesses, non-profit organizations, and other entities. We structure and manage individual portfolios for each client based on their specific needs and objectives. Our mission is to provide unbiased advice, rendered solely in the best interest of our clients, and to develop long-term relationships founded on trust, integrity and a high standard of ethics.

Our firm was established in 1988 with a defined investment philosophy, based on identifiable investment criteria, and a commitment to outstanding customer service. Today, that philosophy and commitment remain the same. We have a diverse customer base, with clients throughout the United States. We are an SEC registered investment advisory firm.

Services provided for

Investment counsel

We believe in the principle of asset diversification among a select and supervised group of high quality assets. We do not speculate with the financial resources of our clientele.

As investment counsel, our responsibilities include the following:

• To understand the financial needs and goals of each client
• To select the most suitable investments to achieve the client's needs and objectives
• To monitor each portfolio and to recommend appropriate action when advisable
• To be informed of the evolving economic, political and social factors that impact investment values
• To report regularly on the progress of client portfolios

We respect the confidential nature of our relationships, and client information is never disclosed without explicit instructions.

We believe selecting investments is an entrepreneurial process.

Our long-term record is possible because our approach and ideas do not reflect the “group” psychology of the investment community.

Investment perspective

Every firm has its own philosophy of business, a set of principles that governs the way it conducts its affairs. This is most important in the investment counseling profession where knowledge, judgment, foresight and perspective are key ingredients to a successful and continuing relationship. We believe successful long-term investing is based on the growth of value made possible by economic expansion and corporate innovation, both of which are likely to continue.

The world economy will expand and advance in the future, as it has in the past. More goods and services will be needed to meet the ever-expanding world population. Higher demand will inevitably lead to advances in technology and research, creating new products, adding jobs, increasing productivity and building economic wealth.

Inflation will remain a key factor for all investors. The value of the dollar has declined for over fifty consecutive years. Even at 3% inflation, the value of the dollar will decline to 23 cents over an average investment lifetime of fifty years, and by one-fourth every ten years.

Perspective is important, and patience necessary, in achieving long-term investment success. We do not emphasize the short run, and we are unable to help those who follow an in-and-out trading approach.

Investment selection

We conduct our own independent research. We invest each year to acquire outside expertise in the fields of economics, industry analysis, company research, taxation, law and political analysis. Government statistics and brokerage research are also drawn upon for input into our studies.

Our examination of investments is a fundamental analysis, and we are disciplined in our valuation judgments. Our recommendations reflect an assessment of both the underlying investment merits of a security as well as its value relative to its opportunities and risks.

We focus our efforts on those industries and companies that are capable of achieving above average results based on identifiable time-tested criteria.

The client relationship

Investing for others is a serious undertaking. We address each client's goals individually, and we manage portfolios in accordance with the client's specific investment objectives.

Selecting a course of action that strikes a sensible balance among such factors as relative inflation, safety of principal, income needs and growth objectives is essential. Therefore, the initial step is to consider appropriate investment goals and to develop a long-range financial plan.

Having an investment plan, and adhering to it, is fundamental. Investors should have a clear idea of what they wish to accomplish with their capital and how they intend to proceed. Those with a reasonable plan and a long-range point of view have the best chance of attaining favorable results.

After analyzing the underlying investment characteristics of existing holdings, we make initial recommendations. Each asset held in the portfolio should be directly related to the basic purpose for which it was acquired or retained.

An important ingredient in any successful relationship is the level of communication. Clients have direct access to the individuals responsible for their long-term plan, and periodic meetings are held to review their goals and discuss current investment positions. This level of communication is unavailable with the ownership of mutual funds, and is rare at most large institutions.

While it is our policy to discuss investment recommendations with clients prior to execution, two agreement options are available: