Who we serve

Values-Based Investors

What matters to you belongs in the investment conversation. Work with Todd Smurl, CFA, to explore how your preferences can fit alongside retirement needs, investment costs, diversification and taxes.

Last reviewed

Who this is for

  • Investors who want faith-based screens (for example, Catholic, Protestant, or Islamic guidelines)
  • ESG-minded investors who want to define their own criteria rather than accept a fund's
  • Anyone who has felt the "values" fund they bought did not match their values

Problems it solves

  • Specialty funds whose fees or screening rules may not fit your preferences
  • Difficulty understanding whether your holdings reflect the preferences you intended
  • Questions about how exclusions could change diversification and performance

What makes it different

Agreed exclusions apply to the direct-stock portion of your portfolio. We explain their scope, including any ETF holdings that may still contain excluded companies, and the potential effects on diversification, taxes and performance.

How it works

  1. Discuss your preferences. Discuss faith guidelines, environmental or social criteria, or individual companies you want considered alongside your retirement and investment priorities.
  2. Review the fit and trade-offs. We explain which exclusions can be applied, how they change the direct-stock allocation and what they mean for diversification and tracking differences. ETFs used for other exposures may hold companies you would exclude from direct ownership; not every requested guideline will fit every allocation. Explore Personal Index Portfolios.
  3. Document the agreed approach. Only agreed exclusions that can be applied to your allocation are written into your Investment Policy for implementation.
  4. Review your holdings. See the holdings in your own account and how they relate to the agreed exclusions.

Fees and planning

Values screens are included in the advisory fee. Optional active tax management for taxable accounts has a separate Altruist charge of up to 0.10% per year on enrolled assets; Integrity Financial Planning receives no part of it. See our complete fee schedule.

For clients with assets under management under $500,000, the Advisor reserves the right to charge an hourly fee for financial planning.

Have preferences you would like your portfolio to reflect? Schedule a free, no-obligation introductory meeting with Todd to discuss what matters to you and whether our approach could fit.

Questions about values-based investors

Does values-based screening hurt returns?

Exclusions can cause performance to differ from the index, positively or negatively, and can change diversification. The effect depends on what is excluded and market conditions. We review tracking differences with you; index-like returns are not guaranteed.

Can I exclude a specific company?

We can discuss exclusions for individual companies, industries or sectors in the direct-stock allocation. ETFs used for other exposures may still hold those companies. We explain the scope and trade-offs before agreeing on exclusions; changes over time may also have tax consequences.

Do you charge more for faith-based or ESG portfolios?

No. Values screens are included in the advisory fee for Personal Index Portfolios. Active tax management for taxable accounts is optional; Altruist, our custodian, charges up to 0.10% per year on the enrolled assets for its tax-management tool, separate from our advisory fee; Integrity Financial Planning receives no part of it.

Talk with a CFA about your situation

A free introductory meeting, no obligation.

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