Witter & Lester Inc

Witter & Lester, Inc. provides discretionary investment supervisory services and model-based asset management programs for individual clients and a broad set of institutional client types described in its brochure. The firm reports approximately $6.54 million in discretionary assets under management and is managed by two principals who currently serve a very small client base (four clients).

The firm’s investment approach emphasizes computer modeling of market indices, seasonal patterns, and both fundamental and technical indicators to set recommended exposure, using stocks, ETFs, bonds, and mutual funds; the adviser may also execute short sales within discretionary accounts. Portfolios are maintained through distinct investment programs under the direction of a principal investment manager, and accounts are subject to at least quarterly review for performance and suitability.

Compared with peers, Witter & Lester’s combination of modest AUM and an unusually concentrated client roster is notable alongside a quantitatively oriented, seasonality-driven trading process and principals with backgrounds in banking/trust and operations research. Operationally the brochure discloses that the firm does not participate in wrap fee programs, does not accept commissions or soft dollars, does not vote client proxies, and maintains a Code of Ethics with pre-clearance and monitoring of employee trading, which together shape its execution and conflict-management practices.