Our Investment Group

JOHN H. ABEL, Portfolio Manager
Adelphi University, B.A.
Equity and fixed income management and research
Portfolio manager since 1972

CHRIS R. CASSIDY, Investment Officer
Skidmore College, B.A. Economic & Business
Equity research since 2002
Chartered Financial Analyst (CFA) Level II Candidate

DAVID T. DeBELLIS, Portfolio Manager
St. Michael's College, B.A.
Chartered Financial Analyst (CFA) designation
Portfolio manager since 1992
Equity and fixed income management and research

HAROLD R. HEBERT, Portfolio Manager
Champlain College, A.S.
American Bankers Association at University of Wisconsin
Certified Trust Financial Analyst (CTFA) designation
Portfolio manager since 1970
Equity and fixed income management

BONNIE McLELLAN, Vice President & Senior Investment Officer
College of Saint Joseph
Canon Financial Institute
Equity and fixed income management
Portfolio manager since 1987

GREGORY M. McCONAHEY, Portfolio Manager
Miami University, BS Accountancy
Chartered Financial Analyst Level 1
Uniform Securities Agent State Law Exam
Equity and fixed income management

MICHAEL J. RAFFERTY
Ohio Wesleyan University, B.A. Economics
Advanced program for Trust Professionals, ABA
National Graduate Trust School
Certified Financial Planner since 1989

RICHARD W. PEARCE, Portfolio Manager
Colorado State College, B.A.
Equity management and research
Portfolio manager since 1981

PETER A. SHERLOCK , Portfolio Manager
President, Sherlock Investment Management, Inc.
Chartered Financial Analyst
Equity Management
Portfolio manager since 1984

STEPHEN T. SINGISER, Portfolio Manager
Brown University, B.A.
Portfolio manager since 1976
Equity and fixed income management

NANETTE J. STEVENS, Portfolio Manager
University of Vermont, B.S.
Equity and Fixed income management
Portfolio manager since 1983

Our Investment Philosophy

Our investment philosophy is determined by the needs and objectives of our clients. Further, each account is unique and its investments should reflect that individuality. Acquiring knowledge of the needs and objectives of each client is key to implementing a successful investment strategy.

We hold ourselves to high standards of prudence and quality and seek to minimize our client's exposure to unnecessary risk.

To translate our philosophy into a workable investment approach, Trust Company of Vermont's managers employ the following techniques:

  • Utilization of top down analysis of the economy and investment alternatives.
  • Selection of securities that meet consistent quality standards.

  • Equities selected based on industry leadership, quality of earnings, management quality, and potential for future growth. Industry sector weightings are monitored continuously.

  • Bonds selected based on credit quality of the issuer. Portfolios are managed by duration relative to a comparable benchmark index. Sector weightings are adjusted relative to the yield spread differentials offered compared to the historical norm.

The Trust Investment Committee, comprised of all our managers, reviews economic projections, sector weightings, and asset allocations and establishes the "Master Equity List". Within guidelines created by this committee, each manager, with peer oversight, manages his or her client's account to meet specific account objectives.

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