SMI Advisory Services, founded in 2005, exists to help investors implement portfolios using Sound Mind Investing strategies. We began with mutual funds, launching the Sound Mind Investing Fund (Stock Upgrading strategy). The SMI Dynamic Asset Allocation Fund followed in 2013 and the SMI 50/40/10 Fund in 2015.
In 2016, SMI Advisory Services introduced a more comprehensive and flexible way to utilize Sound Mind Investing strategies by creating SMI Private Client. Private Client provides investors with more investment strategies (Just-the-Basics, Sector Rotation, and Bond Upgrading in addition to Stock Upgrading and Dynamic Asset Allocation), a greater ability to customize portfolios, and a higher level of client service and support.
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1990
SMI FoundedAustin Pryor founded the Sound Mind Investing* newsletter to help people understand Biblical principles for managing their money, earn good returns on their investments, and secure their financial futures.
*Sound Mind Investing Newsletter is a separate, but affiliated company to SMI Advisory Services
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2005
SMI Advisory FoundedSMI Advisory Services launched with the Sound Mind Investing Fund.
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2013
SMI Dynamic Asset Allocation Fund Launched -
2015
SMI 50/40/10 Fund Launched -
2016
SMI Private Client launched for investors with a $250,000 minimum investment -
2017
SMI Private Client Classic tier added for investors with a $50,000 minimum investment -
With SMI Private Client, three separate teams are committed to helping you reach your financial goals and providing assistance when needed:
- Portfolio Managers monitor your account(s) on an ongoing basis, placing trades when called for and rebalancing as necessary to make sure SMI strategy allocations remain on target. The Portfolio Managers also review investment decisions and research new opportunities.
- Stewardship Advisors work one-on-one with Select and Premier clients to build portfolios of SMI strategies that meet their risk and return goals. Stewardship Advisors get to know each client’s circumstances to help address cash flow requirements, charitable giving goals, and tax efficiency issues.
- Client Services works directly with TD Ameritrade & Charles Schwab on your behalf to open accounts, facilitate transfers, process transactions, update information, and provide exceptional client assistance.
Sandra Morrison
Sandra Morrison joined SMI Advisory Services in 2011 and is a Stewardship Advisor. She is an Accredited Asset Management Specialist (AAMS®) and a registered Investment Advisor Representative who holds the Series 65 license. Sandra earned her bachelor's degree in Chemical Engineering from Purdue University. Prior to joining SMIAS, she spent the bulk of her career with DuPont. Outside of work, Sandra enjoys spending time with her husband and three adult children, participating in equestrian activities, sports, design projects and serving God wherever He leads her. Sandra has been blessed to serve God on short-term missions to Honduras, Zambia and India.
Bryce Fathauer
Bryce Fathauer joined SMI Advisory Services as a Stewardship Advisor in 2014. He is a Certified Public Accountant (CPA), an Accredited Asset Management Specialist®, and a registered Investment Advisor Representative who holds the Series 65 license. Bryce graduated with distinction from Indiana University within the Kelley Business Honors Program, after meriting a full-ride scholarship with a research stipend. He double majored in Finance and Accountancy. Bryce, his wife Emily, and their daughters Ashton and Audrey live near Louisville, Kentucky, where they are members of Graceland Baptist Church. Outside of work, he enjoys volunteering as a Court Appointed Special Advocate for Floyd County, Indiana.
Paul Wilkin
Paul Wilkin joined SMI Advisory Services as a Stewardship Advisor at the beginning of 2018. Paul is a Certified Financial Planner (CFP), a Chartered Financial Analyst (CFA), and a Chartered Alternative Investment Analyst (CAIA). A long time ago, in a galaxy not so far away, Paul graduated from Bowling Green State University with a Bachelor of Science in Business Administration (BSBA), majoring in Economics, and from the Ohio State University with a Masters in Business Administration (MBA), majoring in Finance. Paul and his wife Jan have two grown daughters and live in Columbus, Indiana, where they are members of First Christian Church.
Denise Lucas joined SMI Advisory Services as the Technology Services Coordinator in 2017. She is an Accredited Asset Management Specialist® and a graduate of Ivy Tech Community College with a degree in Business Administration. Denise and her husband Rodney enjoy the outdoors be it walking, hiking, biking, or just working out. They have one grown son, Michael (Ashley) and two beautiful grandchildren. They reside in Columbus, Indiana and are members of Community Church of Columbus.
Holly Ward
Holly Ward joined SMI Advisory Services in 2017 as the Client Services Coordinator. She is an Accredited Asset Management Specialist® and graduated with a Bachelor of Science in Business Administration from Western Kentucky University. She has broad experience in client services and a desire to help others achieve their financial goals. Holly and her husband, Randy, have two adult sons and enjoy spending time with their family. They are active members of Community Church of Columbus and regularly serve in El Salvador on short-term mission trips.
Brian Mondics
Brian Mondics joined SMI Advisory Services as a Stewardship Advisor in 2023. He is a Retirement Income Certified Professional (RICP) and a registered Investment Advisor Representative who holds the Series 65 license. Brian Graduated from Seton Hill University with a Bachelor of Science in Business Administration (BSBA) and from the University of Pittsburgh with a Masters in Business Administration (MBA). Prior to joining SMIAS, he spent the majority of his career in leadership positions with various technology firms. Brian volunteers as a Financial Coach with Connect Financial Ministries and Money Wise. Brian and his wife Gina have two grown sons and live outside of Pittsburgh, PA. Brian is a member of Salina Bible Church. In his spare time he enjoys hiking, and Bible Study Fellowship (BSF).
Vicki Perkins
Vicki Perkins joined SMI Advisory Services in 2018 as the Client Services Assistant. She graduated from Purdue University with a Bachelor of Science degree in Animal Science with an Animal Agribusiness concentration. When Vicki is not working at SMI, she is a primary caretaker of an equestrian facility where she is also in charge of the lesson program for students who show competitively. She and her husband, Tim, have one son in high school and another son in college. They enjoy traveling, camping, and hiking. They reside in Columbus, Indiana and are members of The Ridge church.
Anthony Ayers
Anthony Ayers is co-founder of SMI Advisory Services and serves as Portfolio Manager of SMI Private Client and the SMI Funds. Anthony is responsible for researching, selecting, and trading each strategy’s investments. Prior to co-founding SMI Advisory, Anthony was co-founder and manager of Omnium Capital which operated private investment funds. Prior to that Anthony served in varying capacities as an analyst and Senior Investment Representative for Charles Schwab and Oxford Group, Ltd. Anthony graduated from Indiana University with a B.S. in Finance. He is a CFA charter holder.
Fred Beerwart
Fred Beerwart is co-founder of SMI Advisory Services and has served as the Chief Compliance Officer of SMI Private Client and the SMI Funds, since their inception. Fred’s duties include overseeing and administering the firm’s compliance program. Fred is a co-founder of Omnium Management Company. Prior to co-founding Omnium Management Company in 2005, Fred founded Progressive Packaging, Inc., which is a specialty plastics business. Prior to founding Progressive Packaging, Inc., Fred was the Technical Director for United Films Corporation. Fred graduated from Rose-Hulman Institute of Technology with a B.S. in Chemical Engineering.
Eric Collier
Eric Collier is co-founder of SMI Advisory Services and serves as Portfolio Manager of SMI Private Client and the SMI Funds. Eric is responsible for researching, selecting, and trading each strategy’s investments. Prior to co-founding SMI Advisory, Eric was co-founder and manager of Omnium Capital which operated private investment funds. Prior to that Eric served in varying capacities as an analyst and Investment Adviser Representative for Webb Financial Advisers and Oxford Group, Ltd. Eric graduated from Indiana University with a B.S. in Finance. He also studied at the University of Maastricht in the Netherlands. He is a CFA charter holder.
Elliot Clark
Elliot joined SMI Advisory Services as the Business Development Coordinator in 2021. He is a registered Investment Advisor Representative who holds the Series 65 license. Elliot graduated from Grace College in 2018 with his bachelor's degree in Business with an emphasis on management. Elliot worked in banking prior to joining SMI Advisory services. He enjoys traveling, camping, playing music and is a member of Mt. Pleasant Christian Church.
Mark Biller
Mark Biller is co-founder of SMI Advisory Services and serves as Senior Portfolio Manager of SMI Private Client and the SMI Funds. As Senior Portfolio Manager, Mark has ultimate decision-making authority regarding all portfolio decisions and trading practices. In addition to his duties at the Advisor, Mark has been the Executive Editor of the Sound Mind Investing newsletter for over 20 years. Mark’s financial writings have been featured in a variety of national print and electronic media, and he also appears as a financial commentator for various national and local radio programs. Mark has a B.S. in Finance from Oral Roberts University.
Professional Management
- Accounts proactively managed by a team of Chartered Financial Analysts (CFAs).
- Portfolios implement the Sound Mind Investing strategies.
- Regular rebalancing across all managed accounts.
- Asset Location — Strategies allocated across different account types to improve tax efficiency.
- Tax Loss Harvesting — In taxable accounts, the intentional realization of losses in some positions to offset gains in others, deferring your tax liability and enabling gains to compound longer.
- Wash Sale Monitoring — Track and monitor trades across managed accounts to help mitigate costly wash sale issues.
- Asset Protection Guarantee: If you lose cash or securities from your account due to unauthorized activity, TD Ameritrade & Charles Schwab will reimburse you for the amount lost.
Stewardship Focus
- A focus on SMI stewardship principles.
- SMI Private Client is a fiduciary, meaning we are obligated to put client interests ahead of our own.
- Extensive experience with QCDs, donating appreciated assets, and utilizing donor advised funds to help your giving go further.
- Continuity of portfolio management in the event of Death, Disability, or Impairment, including helping surviving spouse:
- Reregister account titles
- Claim step-up basis on taxable accounts
- Update beneficiaries
- Invest based on new risk tolerance
- Privacy and security policies safeguard your personal and financial information.
- Our team monitors your accounts and assists with contribution and distribution requests.
- Asset Protection Guarantee: If you lose cash or securities from your account due to unauthorized activity, TD Ameritrade & Charles Schwab will reimburse you for the amount lost.
Personalized Portfolios
- Assessment of your risk capacity and risk tolerance.
- Proposed portfolio based on your risk assessment.
- A customized portfolio to fit your specific preferences.
- Clients investing at least $250,000 work one-on-one with a dedicated Stewardship Advisor.
Client Portal
- View your investment holdings, returns, and financial plan all in one place.
- Monitor portfolio performance by SMI strategy, by account, and by security.
- Access TD Ameritrade & Charles Schwab statements and tax documents.
- Track account activity, including contributions and distributions.
- Schedule services, including contributions and distributions, personal information and beneficiary updates, and opening of new accounts.
Transparent Cost
- Straightforward Annual Management Cost of 0.85% for Premier, 0.95% for Select, and 1.00% for Classic clients.
- Advisory and fund costs below industry averages.
- Clients are billed monthly based on their average daily balances.
- Utilizes institutional funds with lower management costs when available.
- SMI Private Client covers all trading commissions.*
* Although SMI Private Client covers all TD Ameritrade & Charles Schwab commissions, SEC Fees will still apply, as will short-term redemption fees, if applicable. Health Savings Accounts may not receive free trades, since they are opened by third party administrators.
Tax Return Analysis & Strategies
- We use a powerful analytical tool to review your tax return and suggest strategies to improve tax efficiency. We look at ordinary income and capital gain tax brackets, deductions, Medicare premium brackets, and credit phase-out ranges. To view a sample, click this link.
- We can model multi-year tax scenarios to view the effects of advanced tax strategies, including:
- Roth Conversions - Converting money from tax-deferred IRAs to Roth IRAs during lower earning years can reduce the total tax liability over an investor’s lifetime.
- Tax Gain Harvesting – Selling securities with long-term capital gains to fill up the 0% tax bracket.
- Donation of Appreciated Securities – Identifying appreciated long-term securities that may be donated directly to charities or to Donor Advised Funds, allowing a tax deduction of the full market value and avoiding taxes on the capital gains.
- Aggregating Charitable Deductions – Consolidating multiple years worth of charitable giving into a single year, and claiming the standard deduction in other years, can increase total tax deductions over time. Donor Advised Funds and donations of appreciated securities may be used in this aggregation process.
Client Dashboard
- View your investment holdings, returns, and financial plan all in one place.
- Monitor portfolio performance by SMI strategy, by account, and by security.
- Access TD Ameritrade & Charles Schwab statements and tax documents.
- Track account activity, including contributions and distributions.
- Schedule services, including contributions and distributions, personal information and beneficiary updates, and opening of new accounts.
- Using the SMI Private Client Mobile App, clients can check balances and transactions, track performance, monitor financial plans, view statements and tax forms, and contact us.
SMI Strategies
STOCK UPGRADING: The Power of Stock Momentum
Stock Upgrading is a momentum strategy based on the observable phenomenon that recent performance tends to persist. In this strategy we diversify your portfolio across US Large-Cap Funds / ETFs, US Small-Cap Funds / ETFs, and a portion may also be invested in International Funds / ETFs and/or commodities, depending on the recent momentum of these groups. Within each category, we buy the funds demonstrating the strongest current momentum, replacing lagging funds with those showing greater momentum each month.
DYNAMIC ASSET ALLOCATION: Winning By Not Losing
DAA is a strategy designed to help you share in some of a bull market’s gains, while minimizing (or even preventing) losses during bear markets. The strategy rotates among six exchange-traded funds representing six asset classes, at any one time holding the three with the strongest recent momentum. DAA is a defensive, low-volatility strategy that has generated impressive back-tested results, showing the power of “winning by not losing.”
SECTOR ROTATION: High Risk, High Reward
This strategy invests in a small number (normally 5, but up to 10) of stock funds and ETFs focused on specific sectors, like technology or financial services, demonstrating strong recent momentum. It’s a high-risk/high volatility strategy. While its peaks have been higher and its valleys lower than SMI’s other strategies, Sector Rotation has generated impressive long-term returns. The strategy is intended to comprise only a modest portion of your stock allocation.
JUST-THE-BASICS: Simple Excellence
Using index funds, we spread your allocation across the global stock market. Just-the-Basics is designed to match the performance of the market in a tax-efficient manner, so it is well-suited for use in taxable accounts.
BOND UPGRADING: The Power of Bond Momentum
We include bonds to provide safety and stability. This strategy combines a bond index fund base with rotating bond funds that vary in duration, credit rating, and type. Bond Upgrading evaluates its holdings each month and replaces lagging bond funds with those showing greater momentum.