On Your Side,
By Your Side.
The Contant-Leit Group
Our Mission
To provide a personalized, meaningful experience for every client.
To manage money comprehensively & thoughtfully on an individual level with our research-based philosophy of investing.
To anticipate the complexities our clients will face & provide proactive, tangible answers to our clients’ intangible uncertainties.
Our Services
Investment Management
Retirement Planning
Estate Planning
Insurance Planning
Income Tax Planning
Education & Generational Planning
Retirement Planning
- Utilize software to illustrate desired retirement age and spending
- Set a plan now to reach your goals and make course corrections as life and financial markets change
- Review current employer retirement accounts and stock ownership (restricted stock, stock options, etc.)
- Assist with Social Security, Medicare, and Long Term Care Planning
Estate Planning
- Review your current estate plan
- Ensure titling of assets is appropriate
- Implement appropriate planning strategies to reduce estate tax liability and reflect your wishes
- Collaborate with your attorney
- Monitor current laws and adjust your plan accordingly
Income Tax Planning
- Review Federal and state tax returns
- Build your portfolio based on your specific situation to optimize tax efficiencies
- Evaluate planning strategies based on the current and anticipated tax situation
- Collaborate with your accountant
- Monitor current laws and adjust your plan accordingly
Financial Planning
One of the cornerstones of our practice is our expertise in financial planning. We work toward turning our clients’ goals into actionable, elevated strategies that work continuously toward achieving those goals. Our teams have different management styles, so you will always be able to find the perfect fit for your circumstances.
Investment Management
Managing your own investments can feel like a full-time job, and that’s because it is. One of the cornerstones of our practice is actively managing our clients' investments to ensure they are positioned for success. We take pride in anticipating challenges and working proactively to circumvent them.
Our Investment Philosophy
Stay Humble and Respect the Market
We believe capital markets, especially developed markets where information is readily available and competition is intense, are generally efficient over the long term. Larger, more liquid markets are typically more efficient and adjust to new information quickly, while smaller, less liquid markets may not. Regardless of the degree of efficiency, market prices communicate valuable information from market participants that should be considered carefully and humbly.
Be Aware of Behavioral Biases
Unlike traditional investment models, which assume investors always make perfectly logical and rational decisions based on all available information, behavioral finance recognizes that, as humans, we are prone to emotional biases and errors. Over shorter time frames, these biases can lead to overreactions in markets. Investors should be aware of these biases and how they may impact their behavior.
Know Where Your Returns are Coming From
Capital markets are designed to compensate investors for assuming a range of risks (premiums), from the risk of merely losing purchasing power to the risk of outright losses. Over the long term, higher-risk investments like large cap and small cap stocks are generally associated with higher returns (premiums), while low-risk securities like Treasury Bills typically have a lower associated return. However, the contribution of various premiums to realized returns can vary dramatically over time. Rather than simply assuming recent returns will continue, investors should understand the factors that drive returns and how they may behave at different points in the market cycle. This can help investors understand when one risk premium may be priced attractively relative to another.
Emphasize Lower Valuation Markets
Despite our emphasis on the long term, we are mindful that the price paid for an investment is inextricably linked to its eventual realized return. Our long-term views do not absolve us of the responsibility of evaluating the risk-to-reward of every asset before investing. We do this by comparing market prices to our best assessment of fair value. We believe lower valuation markets will outperform higher valuation markets over the long term.
Avoid Undercompensated Risks
Over the long term, we believe that risk drives return. Whether it is in the form of inflation, the term (duration), credit, equity, illiquidity, or some other factor or premium, incremental risks must be assumed to generate incremental returns. However, this relationship can get distorted by short-term market dynamics. Investors should seek to avoid risks that do not carry the appropriate level of potential return.
Diversify Risks, But Don’t Eliminate Them
It is impossible to predict which asset class will outperform in any given year. Today's winners are often yesterday’s losers and vice versa. Investors should always maintain some degree of diversification across asset classes, sectors, factors, investment styles, and individual managers. A diversified portfolio should spread out desired risk factors, smooth out returns, and allow the opportunity to rebalance out of what has performed well and into what may not have.
Consider Both Active and Passive Management
Investors should focus on building efficient portfolios that generally keep fees and taxes contained over the long term; however, naively investing in index funds, especially in less efficient or illiquid markets, can carry uncompensated risks. In markets where structural inefficiencies create the potential for excess returns, we believe investors should focus on net-of-fees returns and consider high-quality active managers.
Avoid Performance Chasing
Academic and practitioner research has consistently shown mean reversion of excess returns, especially for traditional equity managers over non-overlapping three and five-year periods. Manager performance ebbs and flows. To judge a manager’s skill, performance needs to be viewed relative to the risk taken over long periods of time and across varying market environments. If past short-term performance offers any insight into a manager’s future returns, it is a contrarian signal.
Manage Fees and Taxes Holistically
Investors often make decisions based on readily available and easily observable information without considering the net impact on the overall portfolio. We believe the most efficient approach is to view fees and taxes holistically and to optimize portfolios for after-tax, net-of-fees returns over a full market cycle.
Focus on What You Can Control – Your Process
There is no investment strategy or process that works all the time. The best strategy is the one you will implement consistently through the inevitable ups and downs of the market cycle. Build a process informed by historical evidence, ignore as much noise as possible, and stick to the plan.
Risk Planning
For many, risk is often seen as a negative circumstance. But in the world of finance, it almost always means opportunity. Finding the balance between opportunity and comfort is key to financial success. Let us help you avoid major investing pitfalls by understanding what kind of investor you are.
Education & Generational Planning
- Understand your goals for funding family members’ specific needs and deploy appropriate strategies
- Work with your children or family members to assist with their planning and financial literacy
- Help with charitable goals and implement strategy
Insurance Planning
- Review current policies including health, disability, long-term care, life, property/casualty, and annuities
- Implement changes to ensure you are appropriately insured
- Help obtain the right kind of insurance
Employee Benefit Planning
We know you value your employees and want to fairly provide for them. But running your own business is complicated enough without having to determine employee benefit packages. Our team’s expertise can offer you the valuable guidance you need to make these vital decisions around employee benefits.
Beneficiary Planning
When it comes to preparing for the future, choosing your beneficiaries can feel like the most daunting task of all. There are so many facets to consider when determining who you will benefit from the fulfillment of your trust, will or life insurance policy. Our guidance can help clarify and simplify your decision-making.
Sale of Business Planning
When the time comes to sell your business, you might be left wondering if this is the right time or strategy for your current and future needs. With our expertise, we can help you understand the value of your business and how you can maximize the outcomes of its sale.
Charitable Giving
Incorporating charitable giving into your financial and/or legacy planning can be a little more complicated than initially perceived. Our team of experts can help guide you through the process to ensure your wealth will be put towards the causes that matter most to you, both today and in the future.
Our Process
Our team is dedicated to identifying your financial priorities. We coordinate all aspects of your finances with a comprehensive, evolving plan built around what you care about most.
Determine Values and Objectives
- Work together to understand your values and clearly prioritize your financial objectives
- Stay informed as goals evolve and remain prepared for life’s surprises
Build a Comprehensive Financial Plan
- Prioritize and address the parts of your financial plan that need attention/are most important to you
- Regularly revisit your plan and proactively adjust for life changes
Portfolio Construction
- Apply strategic asset allocation based on your values, objectives, and risk tolerance
- Construct a portfolio of high-quality investments we believe are attractive in absolute terms
- Maintain patience and discipline to allow valuations to determine the timing of investments
- Avoid unnecessary risks; if we cannot identify attractive investments, we do not commit your capital
Our Goal
- Achieving your objectives while honoring what you value most
Our Clients
Our clients are intelligent, hardworking individuals who deserve a reliable ally when it comes to managing their wealth. Our global balanced approach to investing and planning looks beyond the daily noise, giving you financial peace of mind. We are a resource, an asset, and a relief to our clients’ busy lives as they navigate:
Career & Business Transitions
Getting Married
Having Children
Retiring
Wealth Transfers
Wealth Inheritance
Major Purchases
Life Transitions
Who We Are
As a partner in your life decisions, we anticipate future intangible complexities and provide proactive, tangible solutions.
JOHN CONTANT
Principal & Senior Financial Advisor
STEPHEN LEIT
Principal & Senior Financial Advisor
ANTHONY SANTOLOCI, CFP®
Vice President, Investment Solutions
ROBERT OSSERS, CFP®, CPWA®, CRPC®
Vice President & Financial Advisor
Head of Wealth Planning
ERIN BROWN
Manager - Client Relations
KATHERINE MCGOVERN
Client Service Associate
NADINE WAITKINS
Administrative Assistant
AIMEE ADLER, CFP®
Wealth Planning Analyst
JOHN CONTANT
Principal & Senior Financial Advisor
John joined the firm in 1996 and was named a Principal in 2004. He co-manages the Contant-Leit Group with Stephen Leit. John received his B.S. in Finance from Lehigh University in 1996. He serves as a Board Member and Treasurer of FEIH, an organization committed to providing education to children in Honduras. Since its founding in 2014, the foundation has constructed over 20 schools and has provided school supplies and other assistance to thousands of children in need. John lives in Manhattan with his wife, Betsy, and their two sons.
STEPHEN LEIT
Principal & Senior Financial Advisor
Stephen joined the firm in 1984 and became a Principal in 1989. He worked directly with our founder, Salwyn Shufro, and co-manages the Contant-Leit Group with John Contant. Stephen received his B.A. from the University of Rochester in 1967 and his M.A. from Northwestern University in 1970. He has been a member of the CFA Society of New York (formerly the New York Society of Securities Analysts) since 1975 and earned the Chartered Financial Analyst designation in 1978. Prior to joining Shufro Rose, Stephen was a securities analyst at Neuberger Berman and other institutional firms for thirteen years. Stephen has been active in youth soccer, basketball, and baseball programs as both a coach and administrator for more than 35 years. He lives in West Orange, New Jersey, with his wife, Carol. They have two children and two grandchildren.
ANTHONY SANTOLOCI, CFP®
Vice President, Investment Solutions
Anthony Santoloci is the Vice President, Investment Solutions for the Contant-Leit and Shufro-Glass Groups.
Anthony supervises trading and portfolio implementation to ensure appropriate integration with clients' financial plans and objectives. Before joining Shufro Rose in 2019, Anthony spent two years with Gilder, Gagnon, Howe & Co. Previously, he spent six years at Ameriprise Financial as a Financial Planner. Anthony received his B.A. in Economics from Seton Hall University and is a CERTIFIED FINANCIAL PLANNER™ professional.
ROBERT OSSERS, CFP®, CPWA®, CRPC®
Vice President & Financial Advisor
Head of Wealth Planning
Rob serves as the Vice President-Financial Advisor and Head of Wealth Planning for the Shufro–Glass and Contant-Leit Groups. In his role, Rob spearheads the development and execution of wealth planning strategies.
Rob has over 11 years of experience in the financial services field and has worked for UBS Financial Services and Procyon Partners before joining Shufro Rose. Rob received his BA in Finance from Western Connecticut State University and is a CERTIFIED FINANCIAL PLANNER™ professional and a Certified Private Wealth Advisor® professional.
ERIN BROWN
Manager - Client Relations
As the Manager - Client Relations for the Contant-Leit Group, Erin oversees the group's client service experience. This includes assisting clients with complex onboarding and administrative processes and anticipating client requests. Before joining Shufro Rose, Erin spent five years at UBS Financial Services. She is a graduate of Iona College.
KATHERINE MCGOVERN
Client Service Associate
As the Client Service Associate for the Contant-Leit Group, Katie provides clients with an exceptional experience, anticipating and completing their account administration needs. Client onboarding, money movements, and information requests are key aspects of her role. Before joining Shufro Rose, Katie spent two years assisting a high-performance team of Manhattan real estate agents and two years as an English instructor in Prague. She is a graduate of Montclair State University.
NADINE WAITKINS
Administrative Assistant
As the administrative assistant, Nadine operates as a first point of contact for the Contant-Leit Group; she handles all organizational and administrative needs of the team. Before joining Shufro Rose, Nadine was the Gallery Coordinator for several art advisors in downtown Manhattan. She is a graduate of University of Albany and recently obtained a Masters of Arts from Sotheby’s Institute.
AIMEE ADLER, CFP®
Wealth Planning Analyst
Aimee is a Wealth Planning Analyst and works closely with Robert Ossers to develop financial plans and derive creative solutions to help clients reach their goals.
Before joining Shufro Rose, Aimee worked in client services and operations at other registered investment advisory firms in New York City.
Aimee graduated Magna Cum Laude from Tulane University with a BSM in Finance and Management and is a CERTIFIED FINANCIAL PLANNER™ professional. Since 2012, Aimee has volunteered with Camp Dream Street Mississippi, a week-long sleepaway camp for children with physical disabilities.
