Portfolio Management for High-Net-Worth Investors
In-House Portfolio Management Through Separately Managed Accounts
Moran Wealth Management manages portfolios in house for high-net-worth individuals, families and business owners in Naples and across Southwest Florida. We use separately managed accounts, in which clients own the individual securities directly and can see their holdings and transactions. Our portfolio team is led by Tyler Hardt, CFA, Chief Portfolio Manager, with quantitative research led by Charles Chesebrough Jr., CFA.
How Does Moran Wealth Management Manage Portfolios?
Moran Wealth Management manages portfolios in house for high-net-worth investors in Naples and Southwest Florida. Portfolios are held in separately managed accounts, in which clients own individual securities directly; this gives visibility into holdings and allows tax decisions at the position level. Portfolios are built from MWM’s proprietary strategies by a team led by CFA charterholders and are reviewed as markets and client objectives change.
Dynamic & Calculated Modeling
Our models are built and maintained by our own research team rather than purchased from an outside provider. Each model is designed for a specific objective, and its holdings and weightings are reviewed as conditions change. See our investment strategies.
Active Portfolio Management
Our active management is overseen by Tyler Hardt, CFA, Chief Portfolio Manager, who leads the team in monitoring global and domestic markets and evaluating portfolio strategies in response to changing market conditions. These quantitative models are developed under Charles Chesebrough Jr., CFA, Head of Quantitative Strategies, whose research drives our disciplined, data-driven security selection.
Disciplined & Data-Driven Approach
Our investment strategies are grounded in meticulous research to uncover attractive opportunities that align with each portfolio’s objectives and risk profile, whether employing a quantitative or fundamental approach.
Transparent Portfolio Construction
Personalized Transparency
We employ separately managed accounts (SMAs) so clients can see their individual holdings, transactions and performance.
Rigorous Performance Tracking
Our portfolios undergo continuous performance tracking and rigorous analysis, allowing us to make data-driven adjustments as markets and objectives change.
Past performance is not indicative of future results.
Our Investment Process
We use a diverse selection of asset classes and investment strategies tailored to their unique goals. Our process includes a focus on growth strategies, fixed income solutions, and alternative investments like private equity and real estate, built around each client’s goals.
Disciplined Security Selection
Our proprietary investment models screen and rank securities based on a wide range of market criteria, seeking an unbiased and data-driven approach to portfolio construction.
Strategic Diversification
We focus heavily on security weighting and asset class mix to develop balanced strategies that align with each portfolio’s unique objective. This includes tactical asset allocation designed to respond to changing market conditions and manage risk.
Systematic Optimization
Our methodology is continuously refined and tested over time. This includes offering ESG investment opportunities aligned with social responsibility goals.
Proprietary Strategies
Wealth management starts with the right strategy. From portfolio growth to preservation, our proprietary strategies are structured to fit a range of objectives that align with your unique financial objectives:
- Portfolio Management: Custom-built investment portfolios designed to match risk tolerance and long-term goals.
- Estate & Legacy Planning: Aimed to support a smooth transfer of wealth to future generations.
- Tax-Efficient Investing: Strategies that may help reduce tax drag on returns.
- Wealth Preservation & Risk Management: Strategies designed to help manage risk and preserve wealth during market volatility.
What Is a Separately Managed Account?
A separately managed account, or SMA, is a portfolio of individual securities held in your own name at a custodian and managed by a professional. Instead of owning shares of a fund that owns the stocks and bonds, you own the stocks and bonds directly.
That direct ownership has practical effects. You can see each holding and every transaction. Losses and gains are tracked by individual tax lot, so a portfolio manager can sell a specific position at a loss to offset gains elsewhere, which is not possible inside a mutual fund. The account can also be adjusted for restrictions, such as avoiding a stock you already hold through your employer.
SMAs also have trade-offs. They can require higher minimums than funds, and holding many individual securities can mean more activity on your statements and tax forms. The table below summarizes general differences.
Separately managed account | Mutual fund | Exchange-traded fund (ETF) | |
Who owns the securities | You own each security directly | The fund owns the securities; you own fund shares | The fund owns the securities; you own fund shares |
Transparency | Every holding and trade visible in your account | Holdings disclosed periodically | Holdings disclosed more frequently than mutual funds |
Tax-lot control | Losses and gains can be managed position by position | Fund may distribute capital gains to shareholders | Fund may distribute capital gains, generally less often than mutual funds |
Minimums | Generally higher; vary by manager and strategy | Vary by fund; can be low | Price of one share (or less with fractional shares) |
General comparison for education only. Features, costs and minimums vary by product and provider. Ask us about the minimum for the strategy you are considering.
Who We Manage Portfolios For
We manage portfolios for high-net-worth individuals and families who want their investments handled by a team they can meet, and who value seeing exactly what they own.
That includes business owners before and after a liquidity event. Before a sale, the focus may be on the assets outside the business; after a sale, it may be investing proceeds in stages and planning around stock received in the deal. Learn more about wealth management for business owners.
It also includes investors holding a concentrated stock position, whether from an employer, an inheritance or a business sale. Because each portfolio is held as individual securities, we can plan how to reduce a concentrated position over time with attention to tax cost and coordinate with your tax planning.
Read more about investment strategies for high-net-worth individuals.
Meet the Portfolio Team
Tyler Hardt, CFA, Chief Portfolio Manager
Tyler Hardt leads Moran Wealth Management’s active portfolio management. Before joining Moran, he founded and served as managing member of Pelican Bay Capital Management, LLC, which Moran acquired, and he spent nine years as an equity analyst with Artisan Partners. He holds a B.S. in Finance from the University of Maryland and an MBA from The Wharton School of the University of Pennsylvania, and he is a CFA charterholder. Read Tyler’s full bio.
Charles Chesebrough Jr., CFA, Managing Director, Head of Quantitative Strategies
Charles Chesebrough Jr. develops the quantitative models behind our security selection. His career includes portfolio management roles at The Bank of New York and serving as Director, Head of Global Equities and Senior Portfolio Manager at Honeywell International, where he managed pension plan assets. He began his career as a CPA with KPMG, holds an MBA from the University of North Carolina at Chapel Hill and is a CFA charterholder. Read Charlie’s full bio.
Frequently Asked Questions
What is a separately managed account?
A separately managed account is a portfolio of individual stocks and bonds held in your own name and managed by a professional. Unlike a mutual fund, you own each security directly, can see every holding and trade, and losses can be managed at the individual position level.
Who manages my portfolio at Moran Wealth Management?
Portfolios are managed in house by our portfolio management team, led by Tyler Hardt, CFA, Chief Portfolio Manager, with quantitative research led by Charles Chesebrough Jr., CFA. Your wealth advisor works with the team on your objectives, risk tolerance and any restrictions.
Can you work with a concentrated stock position I already own?
Yes. We can review the position, its tax cost and any restrictions on selling, then plan how to reduce the concentration over time if that fits your goals. The plan may include staged sales, harvesting losses elsewhere in the portfolio to offset gains, or charitable gifts of appreciated shares, coordinated with your CPA.
Reviewed by Tyler Hardt, CFA, Chief Portfolio Manager, Moran Wealth Management®. Last reviewed November 2026.
We do not provide tax or legal advice; please consult your CPA, attorney, or registered tax professional for individualized tax or legal advice.