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The Messinger GroupFocused on Markets. Focused on Our Research. Focused on Our Clients.
Large Color Bar - Portrait (w/Bleed)This version will be placed on the cover of pieces that contain imagery such as Brochures and White Papers.
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Founded in 1939, Neuberger Berman is a private, 100% independent, employee-owned
investment manager. From offices in 34 cities worldwide, the firm manages a range of
strategies—including equity, fixed income, quantitative and multi-asset class, private
equity and hedge funds—on behalf of institutions, advisors and individual investors
globally. With more than 500 investment professionals and over 2,000 employees
in total, Neuberger Berman has built a diverse team of individuals united in their
commitment to delivering compelling investment results for our clients over the long
term. Our culture has afforded us enviable retention rates among our senior investment
staff and has earned us a citation from Pensions & Investments as a Best Place to Work
in Money Management for six consecutive years.
A B O U T N E U B E R G E R B E R M A N
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T H E M E S S I N G E R G R O U P
Focused on Markets. Focused on Our Research.Focused on Our Clients.
For more than four decades, The Messinger Group has focused on serving clients by
taking a holistic approach to addressing their financial needs and delivering customized
solutions based on well-defined goals. Throughout the years we have built exceptionally
strong relationships with multiple generations of clients—relationships we never
stop developing. Our portfolio managers average more than 30 years of investment
experience. We offer strategies that seek protection of capital, income generation,
capital appreciation or a combination of these.
“ TAKE C ARE OF THE CLIENT, AND THE REST WILL
TAKE C ARE OF ITSELF.”
— MARTY MESSINGER, SENIOR ADVISOR, MESSINGER GROUP
Taking a Holistic Approach for our Clients
While Neuberger Berman is primarily known for its expertise as an investment adviser, we also provide a high level of personalized service to
our clients in many related disciplines. For example:
NEUBERGER BERMAN TRUST COMPANY
Headquartered in New York and Delaware, the trust company can act as corporate fiduciary for our clients and their families. While we do not provide
legal services, our experienced trust and estates professionals can help navigate complex issues when passing wealth to children and grandchildren.
WEALTH PLANNING Our firm has a number of Wealth Analysts who are CERTIFIED FINANCIAL PLANNER™ professionals on staff, including one working directly
on our team. We can offer wealth analysis to help clients facing important long-term financial decisions.
PHILANTHROPY For clients who are philanthropically inclined, we can help plan charitable giving in partnership with the Neuberger Berman Trust Companies and
our Philanthropic Advisory Services team. This might include the use of charitable lead trusts, charitable remainder trusts, private foundations
and/or donor advised funds.
We can also collaborate with your key advisors, such as attorneys, accountants, insurance agents, business managers and other trusted
professionals to ensure we deliver advanced solutions in line with your tax, trust and estate planning circumstances.
Committed to Our Clients
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Our job is to help clients achieve three important goals:
Manage wealth through periods
of market volatility and economic
uncertainty
Fund the cash flow needed to
maintain their lifestyle, adjusting
for inflation over time
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Pass wealth to future generations
in a tax-efficient manner
Dedicated Advisor. Personalized Advice.
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Your Life through a Financial Lens
To us, being your investment adviser means taking a personal interest in your well-being. It is inevitable that, in life, new chapters will begin.
Transitions such as retirement, the sale of a business, divorce or the death of a spouse may affect your financial picture. You can be confident
knowing whatever important life event you face, you are not alone. That's why there are no “one-size-fits-all” solutions at Neuberger Berman
and The Messinger Group. We consider your investment and estate plans to be living documents, which we review on a regular basis.
P E R S O N A L I Z AT I O N : T H E H A L L M A R K O F O U R I N V E S T M E N T P R O C E S S
Assess Requirements We work with you individually to understand your objectives and attitudes toward risk.
Set Strategic Direction Based on your investor profile, we work together to design a target allocation across equity and fixed income asset classes.
Develop Portfolio We select investments for your portfolio that reflect our fundamental investment philosophy of diversification and risk management.
Maintain; RebalanceBecause markets move and goals evolve, we review your portfolio allocation and specific holdings on an ongoing basis. When returns of one or more holdings shift and allocations fall outside of target weightings, we rebalance to align with the target asset allocation.
Keep You Informed
We communicate in person, over the phone, via email and through periodic client updates. The purpose is to regularly assess progress toward your goals and discuss any changes in your circumstances and/or investment objectives. We share our views through quarterly performance reports, commentaries and The Messinger Group website (www.nb.com/messinger).
W E A LT H P L A N N I N G A N A LYS I SIN
VEST
AB
LE ASSETS
REAL ESTATE & OTHER ASSETS
INCOME SOUR
CESFAM
ILY EXPENSES
Balance Sheet Analysis
Cash Flow Analysis
WEALTH PLANNINGANALYSIS
MONTE CARLO SIMULATION• Detailed summary of investments,
asset allocation and tax characteristics.
• Investment Strategy Group (ISG) capital market assumptions provide asset class (index) benchmark returns.
• Expense tracking tied to inflation assumptions and clients’ customized time horizons.
• Deductible expenses leverage federal income tax tables.
• Real estate, other assets and liabilities incorporated.
• Nominal net asset values computed annually.
• Real asset values included in Monte Carlo if liquidated.
• Earned and passive income streams.
• Social Security benefits tied to SSA tables.
• Pension, annuity, insurance and other income.
INVE
STAB
LE ASSETS
REAL ESTATE & OTHER ASSETS
INCOME SOUR
CES FAM
ILY EXPENSES
BALANCE SHEET ANALYSIS
CASH FLOW ANALYSIS
WEALTH PLANNINGANALYSIS
MONTE CARLO SIMULATION
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How We Monitor Risk
Start with
comprehensive
in-depth research
Invest at attractive
price points to minimize
downside risk
Regularly monitor
sector and category
weightings
Typically limit
positions size to a
maximum of 6%
Recognize and address
missteps quickly
6%
Research that Delivers Differentiated Insights and Ideas
Fundamental research is core to our process. Our intellectual curiosity leads us to critical analysis of business models, industry structures and
macro environments. We desire to discover and capture the best opportunities for investment. While our research is centered on original and
independent work, we leverage the Neuberger Berman Global Equity Research Department and myriad external sources.
DIVERSIFIED PORTFOLIO
Customized investment solution focused on delivering attractive risk-adjusted results based on well-defined goals.
Our Process
QUANTITATIVE
Screen for undervalued companies based on traditional fundamental factors
•Assess relative attractiveness of macro factors, industry dynamics
and competitive landscape•
Focus on discounted free cash flow and intrinsic value as core metrics of analysis
QUALITATIVE
Uncover companies with underutilized businesses or underappreciated assets
•Determine if businesses are nearing an inflection point supported by persistent
and structural trends •
Favor managements with track records of effective capital allocation
BUY DISCIPLINE
Establish attractive entry points supported by fundamental research
•Arbitrage time horizons by taking a longer-term approach to investing
•Catalysts NOT required
Are you able to retire comfortably?Long-time clients came for a visit and explained that they were hoping to retire in the next year or so. They had spent more than 30 years accumulating assets for this purpose and wanted to understand how things would work after they had left their jobs and switched to “spending mode.” Their key concerns were: Could they afford to maintain their current lifestyle in retirement? Should they change their asset allocation (the mix of stocks, bonds and other securities in their portfolio)? How would they manage their monthly expenses and other costs, such as vacations, once the direct deposit of their paychecks ended? After discussing several scenarios, we helped create a customized retirement plan.
Investment considerations for widows / widowers A recently widowed client reached out to us with a complex set of issues to discuss. The substantial estate that her husband had left would be divided among a handful of different accounts: She would have a personal account; she would be the income beneficiary of a marital trust for her benefit; she would be a potential beneficiary (but not the only beneficiary) of a trust for multiple generations; and she would have an IRA as beneficiary for the proceeds of her husband’s profit sharing plan. We were able to successfully partner with the client’s other advisers, including her accountant, to identify the income and estate tax considerations specific to each of these accounts. As a result, we were able to discuss a number of targeted investment solutions that, in our opinion, could help address her new financial circumstances.
C A S E S T U D I E S :
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Sometimes an investor’s complete financial picture can get complicated, so discussions are not limited to just the investment portfolio. Some example scenarios:
Implementing Solutions through an Integrated Investment Management Approach
Unique Needs of Corporate Executives
We can help navigate some of the intricate issues that corporate executives and others face, such as employee benefit plans and
concentrated positions of employer stock. For example:
• Providing education on transfers from Qualified Plans to an IRA
• Planning for the exercise of employee stock options
• Integrating pension benefits into asset allocation plans
• Hedging concentrated positions through options
• Using charitable giving techniques to address issues arising from low-cost stock holdings
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Working with Our Team, and Gaining Access to the Full Suite of Neuberger Berman’s Capabilities
O U R S E PA R AT E LY M A N AG E D AC C O U N T S I N C L U D E :
To help our clients achieve their goals, we offer separately managed accounts of individual securities, overseen
by The Messinger Group’s Portfolio Managers, with each client’s investment objectives, risk tolerance, tax
considerations and cash flow needs in mind.
In addition, we can offer other strategies provided by a variety of investment teams at Neuberger Berman.
OT H E R A S S E T C L A S S E S O U R C L I E N T S C A N AC C E S S I N C L U D E :
Investment Grade Fixed Income Dividend Growth
Preferred Securities Core Equity
Equity Income NextGen Growth
High Yield Bonds
Socially Responsive / Environmental, Social and Governance (ESG)
Growth Stocks
Small Cap Equities
Foreign Securities (Equities and Fixed Income)
Private Equity (Qualified Investors)
Hedge Funds
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Setting the Standard for the Client Experience
As a team, we pride ourselves on the level of dedication of every member of The Messinger Group. From our highly qualified and experienced investment professionals to our portfolio, research and administrative specialists, we have a deep bench of talent, and we ensure that each client has access to our entire team.
A L L M E S S I N G E R G R O U P C L I E N T S B E N E F I T F R O M
Tailored portfolios based on individual
investment objectives
Regular face-to-face meetings with our
investment team to review your portfolio
Comprehensive research covering the
global markets
Market commentaries, webcasts and
The Messinger Group website in which
we share our views
A dedicated client-servicing team of
experienced associates
Access to Wealth Planning Analysis
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W W W. N B. C O M / M E S S I N G E R
For further information, please visit
or contact us at 212.476.5960
T H E M E S S I N G E R G R O U P
A 45-plus year heritage managing over $5 billion in assets for individuals and institutions
Portfolio management team has on average more than 30 years of investment experience
A focus on tailoring solutions according to each client’s goals, risk profile and time horizon
Commitment to disciplined risk management
Our professionals include portfolio managers, research analysts, traders, client associates and our
dedicated wealth analyst, who is a CFP® practitioner
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This material is intended as a broad overview of the portfolio manager’s current style, philosophy and process. This material is presented solely for informational purposes and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security, should not be construed as an offer to sell or the solicitation of an offer to buy any security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. All information is current as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Third-party economic or market estimates discussed herein may or may not be realized and no opinion or representation is being given regarding such estimates. Certain products and services may not be available in all jurisdictions or to all client types. Unless otherwise indicated, returns shown reflect reinvestment of dividends and distributions. Indexes are unmanaged and are not available for direct investment. Investing entails risks, including possible loss of principal. Past performance is no guarantee of future results.
A Wealth Planning Analysis is intended solely for informational and discussion purposes to educate investors on financial topics and help investors better understand their financial profile and evaluate possible options. A Wealth Planning Analysis is a one-time analysis and Neuberger Berman does not undertake to provide any on-going or periodic review, follow-up or monitoring of any of the topics covered in the Wealth Planning Analysis. A Wealth Planning Analysis and any related discussions do not constitute investment advice and are not part of any investment advisory or fiduciary services offered by Neuberger Berman or its affiliates.
Tax, trust and estate planning are services offered by Neuberger Berman Trust Company N.A., an affiliate of Neuberger Berman Investment Advisers LLC. Neuberger Berman Investment Advisers LLC, as well as its employees, does not provide tax or legal advice. You should consult your accountant, tax adviser and/or attorney for advice concerning your particular circumstances.
Firm data as of July 31, 2018, including employee and assets under management figures, reflect collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC (the “firm”), including, but not limited to, Neuberger Berman Investment Advisers LLC, Neuberger Berman Investment Advisers LLC, NB Alternative Investment Management LLC and NB Alternatives Advisers LLC. Firm history dates back to the 1939 founding of Neuberger & Berman (the predecessor to Neuberger Berman Group LLC).
Neuberger Berman Investment Advisers LLC is a registered investment adviser. The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC.
Neuberger Berman1290 Avenue of the AmericasNew York, NY 10104-0001
www.nb.comN0353 05/19 206081 ©2019 Neuberger Berman Group LLC. All rights reserved.
Talk to Neuberger Berman For more information, please contact your Neuberger Berman representative or visit www.nb.com.
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