At Scriba Waldron Capital, our value system is fundamental to our identity as community members and investment professionals. Success to our firm means not only exceeding our financial targets but also a strict adherence to our value system. Financial success at the expense of our values is entirely unacceptable.
We, at Scriba Waldron Capital, define our value system as follows:
1. Adherence to all Applicable Laws and Regulations
For many institutions operating in financial services, following the law appears to be a substantial hurdle. Vast resources are expended to assemble and operate sophisticated legal departments tasked with circumventing laws and regulations.
At Scriba Waldron Capital we take the opposite approach. Our resources are devoted to complying with all applicable laws and regulations as well as the spirit of the law. Regulators (primarily) establish laws and regulations with the intent of protecting the investing public and the broader community at large. This initiative is common to our values. Therefore, we consider an adherence to all applicable laws and regulations the first level of our value system, and the foundation on which more stringent values are built upon.
2. Adoption of the CFA Institute Code and Standards
The second level of our value system is the adoption of the CFA Institute Code and Standards as well as our commitment to hiring, retaining, and developing CFA Members and Candidates. By engaging with individuals participating in CFA Institute Programs, we intend to expose our organization to those who share in our ambition to achieve the highest possible ethical and professional standards. Furthermore, the CFA Institute also provides a disciplinary framework to discourage CFA Members and Candidates from deviating from an established set of ethical standards and professional conduct.
3. Self-Imposed Ethical and Professional Standards
The third and final level of the Scriba Waldron Capital value system consists of a group of ethical and professional standards that we, as an organization, have voluntarily imposed upon ourselves. We see these standards as fundamental to our corporate identity and critical to our mission.
Commitment to Investors
At Scriba Waldron Capital we take our fiduciary responsibility owed to investors very seriously. First, we take care in identifying who our investor is. In some circumstances this is obvious; he or she is an individual purchasing an investment product or service offered by our institution. In other circumstances, however, the party upon which a fiduciary duty is ethically and legally owed may be ambiguous. For example, one party making an investment decision on behalf of another. In this case, the individual purchasing an investment product or service is not our investor but rather a custodian of capital for an individual or entity with the final claim on the capital invested. We therefore define our investors as follows: “Those entities or individuals making an identifiable and measurable contribution, monetary or otherwise, with the expectation of a return on investment, and in the process, exposing oneself to the potential risk of capital loss.”
With consideration to our ultimate investor, as previously defined, we are committed to placing the interests of our investors above our corporate and personal interests. This pledge is present in every aspect of our organization and deeply rooted in the investment products and services we deliver to investors. With this in mind, we have positioned our fee structure such that our success is directly determined by, and subordinated to, our investors’ success. This commitment is just one of many making our organization and mission unique.
Commitment to Investing Ethically
Generating return for our investors is a big responsibility we take seriously. We are committed to continuously adapting and perfecting our investment processes in order to generate return in new and unique ways for the ultimate benefit of our clients. This does not mean, however, that we will generate return by ‘any means necessary.’ We, as an organization, are committed to investing in assets that improve a community, not detract from it. To our organization, a benefit generated for one party at the expense of another individual, group, or the community as a whole, is entirely unacceptable.
Commitment to Investing Sustainably
At Scriba Waldron Capital we understand that we are only temporary custodians of our community’s resources. There will come a time when it is necessary to pass these resources to the next generation. From an appreciation of our finite time here, it is our sincere mission to positively impact our community’s resources over the course of our lives. More specifically, this includes (but will certainly not be limited to) a near-term mission of a neutral carbon footprint through continuous investments in alternative energies and other sustainability initiatives.
Commitment to Health and a Cure
One thing we, as busy individuals, often take for granted is our health. Perhaps, in fear of our own mortality, we wish to push aside thoughts of illness and how it affects those less fortunate. For the reason above, and many others, some are forced to battle illness in isolation. At Scriba Waldron Capital we find this completely unacceptable. We feel that technological achievements of late are proof many cures are within reach but are apathetically dismissed as impractical, too expensive, or unimportant. Although we represent are an organization focused on investments, we are committed to advancing research and treatment of malignant cancers and other deadly diseases however we can. It will take time, but our commitment is sincere. We have started with contributions to organizations possessing the knowledge of how best to invest in life saving efforts but intend to, over the long term, make direct investments to find a cure and provide hope. We believe that too many people have suffered for much too long. At Scriba Waldron Capital we will do everything in our power to ensure this is the generation for a cure.
Commitment to Community
As an organization, we recognize that not everything can be achieved on a broad, corporate level. There comes a time when the best way for an institution to have a positive impact on the surrounding community is for individuals to roll up their sleeves and get their hands dirty. Scriba Waldron Capital is whole-heartedly committed to the immediate needs of the people who make up the communities where we invest.
Every community is different and therefore we do not have any one formula for how to accomplish this important task. We, instead, open our ears, eyes, and hearts to community members and allow them to tell us how we can be most helpful. Sometimes this will include preparing and distributing meals to those who are hungry. In other communities the need may consist of a park or greenspace for families to raise their children. Perhaps the greatest need may be a local children’s hospital in short supply of volunteers. Regardless, Scriba Waldron Capital and the individuals that comprise the organization are here, ready, and willing to help our community in any way we can because this is our home too.