Carlson Asset Management

"RUN AWAY! DO NOT WALK! RUN! I don’t know how these people sleep at night. I turned over my entire life savings to them in April of 2019. They charge me 1.2% of my portfolio balance over the years and as of the end of February 2024 my accounts are DOWN 23.62%. I do understand that there is risk involved with investing in the stock market. Over 40 years of investing, I’ve been through a lot of bear markets just like everybody. My funds always bounced back. Then Covid! My funds dropped and NEVER bounced back. Then, the Post-Pandemic Supply Chain Crisis (2022). Since my fund had NO RECOVERY following Covid, my funds were already in a vulnerable position and continued to drop. The stock market is now at an ALL TIME. My funds have NEVER recovered. I’m retired, and YES, I am withdrawing in order to survive. After researching stock market returns, I found a statement from Forbes: “Since 1971, the S&P has delivered an annualized return of 7.58% - or 10.51% with dividends reinvested.” I set a 5% withdrawal rate thinking: in the long term, my funds should remain close to my original balance. I met with them in January 2024 for approximately 2 hours. 1. I asked them why they hold onto some stocks so long that it causes a 50% or higher loss. The response I got from Brendt was: “You always hope they will come back, right?”. I didn’t HIRE you to trade on HOPE. I hired you for expertise! 2. I asked them why they sell some stocks when they are just barely down. I never got a response. 3. I asked them who is watching my funds. The response I got was: “we ALL are”. Then how did ALL OF YOU miss the CGC? It was all over the CNBC. I owned 800 shares of CGC when REDDIT decided to push the stock. I was UP on that stock over 150%. Not only did Bruce and gang NOT sell the stock at a profit, they let it fall almost 200% and sold all 800 shares at a 41.18% loss. 4. I asked them why they sell strong companies on a slight dip & hold speculative companies until there is a huge loss. AMZN: I owned 200 shares. It dipped in 2022. Bruce sold 100 shares at a 21.15% loss. The other 100 shares have rebounded and I’m current up 54.69%. ACB: To be fair, I was the one that suggested buying some POT stocks. Brendt assured me “he knew the good POT companies because he had a friend that lives in California”. I lost 89.72% of that investment. 5. Then I was told that I’m just withdrawing too much money from my accounts. That it’s not sustainable and that I would have to change my life style (apparently to accommodate their incompetence). I reminded them that 5% was sustainable when I originally turned my funds over to them, but that since they didn’t keep up with the market, it’s no longer sustainable. So now, I’m on a budget because of their incompetence. 6. I also noticed one familiar pattern They buy a stock and within 10 or so days, it’s almost always down 5 to 10% and often keeps falling. Apparently, their philosophy is: buy high / sell low. 7. They had me positioned extremely conservative. There is no hope of my portfolio recovering. I emailed them a couple weeks after our January meeting. Brendt’s reply was that he “I don’t want to chase Large Cap Tech and don’t want to make any rash decision here in order to play “catch up.” I like the names you own and think a higher cash allocation is appropriate given the interest rates currently being earned on cash”. And yet they “chased” CLX (i.e. Clorox) by buying it in 2023 stating “we are getting ready for the next pandemic”. In addition, about 1/5 of my portfolio is in cash. Per Bruce: because of my withdrawal rate & position for buying opportunities. Apparently, there weren’t buying opportunities in 2022 bear market. Again: Incompetent! 8. In the end, I could tell Bruce was annoyed by our meeting and all my questions. He sat back, crossed his arms and defiantly stated “I will not sit here an be micromanaged by you”. All I wanted was answers. Some rational as to their trading philosophy, but I got no answers. Whatever their methodology is, it obviously doesn’t work. It’s incompetent! Gloria F"

"Leaps and bounds above other local advisors."