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Detwiler Fenton recently celebrated its 50th year in business. But when I am asked what makes Detwiler Fenton remain when so many firms have merged or gone away my response invariably turns to our culture.

History has shown that a company's culture: a set of shared values, traditions, and informal ties among colleagues; is often the difference between success and failure. Detwiler Fenton remained when so many of its competitors either merged or went out of business.

More than 50 years in the making, our culture has numerous facets. First and foremost is adding value to the investment process. In an industry with too many passive managers or research analysts using the same process we, believe being relevant is of the highest importance. We take being of value seriously. We are, for example, uncommonly client focused. Every decision we make is guided by the maxim "client, firm, self," which translates into an emphasis on pursuing superior investment results and a fiduciary mindset. Our unwavering commitment to integrity goes hand in hand with our clients-first philosophy. We hold ourselves to the highest personal and professional standards, at all times striving to earn and sustain our clients' trust.

We are also collegial and, highly collaborative. A sense of community pervades our firm, and teamwork predominates. Our culture fosters innovation, with an emphasis on learning and an entrepreneurial spirit that help us quickly respond to and even anticipate our clients' changing needs. And we believe we are better prepared to innovate because we value diversity. Differences in our human experiences spur us to challenge conventional wisdom and spark creative thinking. These are just a few of my own perspectives on our culture. Talk to others at our firm and you'll hear many more. But all of them, I believe, will be rooted in these core values, which shape the work we do every day on behalf of our clients.

Sincerely,

Peter D. Fenton, CEO
Detwiler Fenton Group