Fleisher, Martin

The firm provides discretionary portfolio management primarily to high‑net‑worth individuals, using account‑level Investment Policy Statements and an account minimum that typically limits its client base to wealthier investors. It manages a concentrated set of client relationships (about a dozen accounts) and advises on mutual funds, equities, fixed income, ETFs, TIPS, and non‑U.S. securities, charging percentage‑of‑AUM fees as its standard compensation approach.

Its investment process combines fundamental analysis, modern portfolio theory, and quantitative techniques to set asset allocation and select investments, and it employs long‑term, short‑term, and options trading (including covered and uncovered strategies). The adviser requires discretionary trading authority, performs monthly account reviews, and provides custodian statements and periodic reporting to clients, while noting the elevated risks associated with options and frequent trading.

Distinctive features include that the adviser is a lawyer and the firm is organized as a legal professional entity, with the brochure disclosing that the principal may offer legal advice or products outside the advisory business — a potential source of conflicts of interest. The firm’s small, high‑AUM client roster, its stated practice of not aggregating block trades for multiple clients, and its explicit avoidance of performance‑based or third‑party compensation further differentiate it from many peers.