Many investment consulting firms represent themselves as being independent. However, many of these firms use liberal definitions, which creates confusion in understanding the extent of their independence. Hartland & Co. maintains complete independence, which means that our only source of compensation is derived from client fees. Since its inception in 1989, Hartland & Co. has never accepted compensation for any reason from any investment company. We believe when investment consulting firms sell services or structure fee sharing arrangements with the investment managers they recommend to clients, they create a conflict which is at odds with their clients’ interests. We believe conflicts of interests lead to sub-optimal investment performance.

Hartland & Co.'s response to the SEC Questionnaire on independence.