SG Hiscock & Company

As a multi-award-winning boutique fund manager, SG Hiscock has a proven record of providing exceptional service and unrivalled insights to our clients.

OUR PROCESS

We believe in buying great companies at good prices. We are firm believers in co-investment, demonstrated by our significant investment in our own funds. Our confidence in our investment approach means we always seed new funds with our own money. We have made the decision to cap our Funds Under Management at modest levels, to ensure that the funds retain greater flexibility to generate strong investment returns across varying market conditions. In order to identify the best opportunities for our clients, we undertake a broad fundamental research program which incorporates an extensive company visitation schedule. With an experienced team of investment professionals, our approach to analysing companies is designed to ensure no stone remains unturned.

We engage with a hand-picked team of external research providers to complement our insights in the macroeconomic landscape (both locally and abroad) and general investment trends. We also have an exclusive joint advisory arrangement with one of the world’s largest commercial real estate investors; LaSalle Investment Management Securities, LLC is a subsidiary of global property giant, Jones Lang LaSalle. This provides our property team access to LaSalle’s research capabilities.

OUR ENVIRONMENTAL, SOCIAL AND GOVERNANCE POLICY

SG Hiscock & Company has a formal board-endorsed environmental, social and governance (ESG) policy. This incorporates the key principles of the Australian Council of Superannuation Investors, as well as the framework provided under the United Nations’ Principles for Responsible Investment. SG Hiscock & Company is a responsible investor and we take an active approach to integrating ESG considerations into our investment decision-making process. We believe that the effective governance and management of business risks has a direct impact on a company’s intrinsic value over the long term and helps to reduce investment risk. In order to identify the best opportunities for our clients, we undertake a broad fundamental research program which incorporates an extensive company visitation schedule. With an experienced team of investment professionals, our approach to analysing companies is designed to ensure no stone remains unturned.

We engage with a hand-picked team of external research providers to complement our insights in the macroeconomic landscape (both locally and abroad) and general investment trends. We also have an exclusive joint advisory arrangement with one of the world’s largest commercial real estate investors; LaSalle Investment Management Securities, LLC is a subsidiary of global property giant, Jones Lang LaSalle. This provides our property team access to LaSalle’s research capabilities.
Staff / Employees 25
Portfolio Manager Average Experience 22 years
Recent Awards Australian Equities Winner, 2018 IMAP Managed Account Awards
our team
  • Stephen Hiscock
    Stephen Hiscock View Profile
    Managing Director
  • Tim Gough
    Tim Gough View Profile
    Portfolio Manager
  • Hamish Tadgell
    Hamish Tadgell View Profile
    Portfolio Manager and Head of Research
  • Andrew Gillies
    Andrew Gillies View Profile
    Analyst
  • Sarah Eager
    Sarah Eager View Profile
    Marketing Coordinator
Investment Models
  • Defensive Income
    Defensive Income

    This Model Portfolio suits investors who: are averse to large fluctuations in the value of their investments over shorter time periods. This portfolio is the most risk-averse of our four Model Portfolio categories, and aims to protect you against a fall in the real value of your portfolio over time (that is, after inflation) by investing largely in Defensive assets. This means the portfolio will seek to generate a moderate income. You are comfortable with a targeted rate of return of 1-2% above inflation. As a rough guide, this Model Portfolio will typically consist of 70% Defensive assets and 30% Growth assets. However, each investment manager will manage allocations depending on their assessment of conditions.

  • Sustainable Income
    Sustainable Income

    This Model Portfolio suits investors who: seek a consistent and sustainable income from your portfolio. You also have a reasonably long-term time horizon and are not overly sensitive to changes in the value of your portfolio over shorter time periods. This portfolio takes more risk than the Defensive Income portfolio, seeking to deliver higher income and higher growth. You are comfortable with a targeted rate of return of 2-3% above inflation, and value consistent income over long-term growth of assets. As a rough guide this Model Portfolio will typically consist of 50% Defensive assets and 50% in Growth assets, including higher-yielding Growth assets. However, each investment manager will manage allocations depending on their assessment of conditions.

  • Robust Growth
    Robust Growth

    This Model Portfolio suits investors who: are focused on growth within your portfolio, with a commensurate lower focus on stability of the short-term value of the portfolio. This portfolio has a higher orientation to Growth assets than our Sustainable Income model but less than our Maximum Growth model. You are comfortable with a targeted rate of return of 3-4% above inflation, because you value Growth over Income in your portfolio. As a rough guide, this Model Portfolio will typically consist of 30% Defensive assets and 70% Growth assets. However, each investment manager will manage allocations depending on their assessment of conditions.

  • Maximum Growth
    Maximum Growth

    This Model Portfolio suits investors who: are focused on long-term growth and are comfortable with the commensurate risk and volatility that comes with this style of investing. This portfolio has the highest orientation to Growth assets of our four Model Portfolio categories. You are seeking a targeted rate of return of 4-6% above inflation, because you value growth and are a long-term investor. As a rough guide, this Model Portfolio will typically consist of 10% Defensive assets and 90% Growth assets. However, each investment manager will manage allocations depending on their assessment of conditions.

Investment Objective
The objective of the portfolio is to provide an actively managed diversified portfolio for an investor with a need for a stable level of income and who is not comfortable with high levels of fluctuation in the value of their portfolio. The portfolio is also designed to deliver a modest amount of growth to provide some protection against inflation with an overall return objective of CPI plus 1-2%. In order to achieve this objective the portfolio will have long term allocation to defensive or income assets in the range of 70% and 30% to growth assets.
Typical Investor
The typical investor is more risk averse and sustainable income levels are considered the primary objective. The investor is comfortable with a higher weighting to income producing assets such as fixed interest investments and only a small allocation to equities among other asset classes. The portfolio would suit investors in the latter stage of their life where growth is a secondary consideration or investors uncomfortable with market fluctuations and where short term preservation of capital is of high importance.
Investment Strategy and Approach
Actively managed portfolio with a Strategic Asset Allocation of 70% to income assets and 30% to growth assets.
Minimum Investment Amount
$25,000

Model Composition

Allocation as at February 2019

    Fees & Charges
    Enter an investment amount then scroll down to see an indicative example of the portfolio you would own, as well as the associated fee.
    SG Hiscock & Company Defensive Income
    This example is an out-of-date breakdown of this model and should not be taken to represent our current thinking or composition
    Cash 4.80% $480,000
    Code Security name Weighting % Amount
    CASH Cash 4.80% $4,800
    Cash 4.80% $480,000
    Australian Shares 13.85% $13,869
    Code Security name Weighting % Amount
    WOW Woolworths Grp 1.65% $1,655
    ANZ ANZ Banking Grp 2.18% $2,183
    TCL Transurban Grp 1.51% $1,512
    BHP BHP 1.64% $1,641
    CBA Commonwealth Bank of Aust 1.95% $1,953
    SYD Sydney Airport 1.44% $1,442
    ORG Origin Energy 1.78% $1,783
    MQG Macq Grp 1.70% $1,701
    Australian Shares 13.85% $13,869
    View all Australian Shares Show less Australian Shares
    International Shares 15.97% $15,967
    Code Security name Weighting % Amount
    NCP0001AU Northcape Global Emerging Markets 3.05% $3,054
    WHT0044AU Capital Group Global Equity 6.35% $6,348
    FRT0009AU Franklin Global Growth Wholesale 6.57% $6,566
    International Shares 15.97% $15,967
    Australian Property 5.04% $5,036
    Code Security name Weighting % Amount
    ETL0119AU SGH Property Income 5.04% $5,036
    Australian Property 5.04% $5,036
    International Property 5.14% $5,143
    Code Security name Weighting % Amount
    ETL0005AU SGH LaSalle Global Listed Property Securities 5.14% $5,143
    International Property 5.14% $5,143
    Australian Fixed Interest 33.89% $3,389,000
    Code Security name Weighting % Amount
    ETL0015AU PIMCO Australian Bond Wholesale 10.71% $10,711
    MQGPB CAP NOTE 6-BBSW+5.15% PERP NON-CUM RED T-03-21 3.16% $3,158
    NABPC CAP NOTE 3-BBSW+3.50% PERP NON-CUM RED T-07-23 3.15% $3,152
    CGFPA CNV PREF 3-BBSW+3.40% PERP SUB NON-CUM RED T-05-20 3.11% $3,105
    CBAPF CAP NOTE 3-BBSW+3.90% PERP NON-CUM RED T-03-22 3.12% $3,119
    ANZPF CAP NOTE 6-BBSW+3.60% PERP NON-CUM RED T-03-23 3.15% $3,148
    WBCPF CAP NOTE 3-BBSW+4.00% PERP NON-CUM RED T-03-21 3.17% $3,167
    AMPPA CAP NOTE 3-BBSW+5.10% PERP NON-CUM RED T-12-21 4.32% $4,318
    Australian Fixed Interest 33.89% $3,389,000
    View all Australian Fixed Interest Show less Australian Fixed Interest
    International Fixed Interest 16.63% $16,634
    Code Security name Weighting % Amount
    ETL0016AU PIMCO Diversified Fixed Interest W 8.30% $8,303
    SBC0819AU UBS International Bond Fund 8.33% $8,330
    International Fixed Interest 16.63% $16,634
    Alternatives 4.68% $4,683
    Code Security name Weighting % Amount
    OPT7628AU Arco Absolute Return Fund 4.68% $4,683
    Alternatives 4.68% $4,683
    100.00%
    Total
    $100,010
    Fees & Charges
    Enter an investment amount to get an estimate on your fees.
    Management fee
    0.85% $0
    +
    Indirect cost
    0.44% $0
    =
    Total Per Annum
    1.29% $0

    You will pay $0.00 per month when you invest with us based on the initial investment amount entered, and the investment manager and model portfolio chosen. All fees and charges are inclusive of GST.

    If you would like to see our fees and charges in more detail, please visit our Fees section.

    Initial Transaction Cost

    The estimated transaction cost for the funds in this model portfolio is $0

    Ready to Invest?

    Our single, simple fee covers administration and operations by OpenInvest, the services of your chosen investment manager, and any indirect costs.

    Invest
    Investment Objective
    The objective is to provide an actively managed diversified portfolio for an investor who is comfortable with a mix of both income and growth, ideally an investor with a conservative approach to risk and a requirement for a moderate level of sustainable income. Exposure to growth assets should be aimed at providing protection for the real value of the portfolio in normal periods of inflation. The portfolio has a return objective of CPI +2-3%. In order to achieve this objective the portfolios long term asset allocation will be split approximately 50% to income and 50% to growth assets.
    Typical Investor
    The typical investor is comfortable with exposure to equities and fixed income and also requires a moderate yet sustainable level of income. The portfolio would suit investors looking to both grow the value of their portfolio modestly but also with a desire to see income generation to meet their needs.
    Investment Strategy and Approach
    Actively managed portfolio with a Strategic Asset Allocation of 50% to income assets and 50% to growth assets
    Minimum Investment Amount
    $25,000

    Model Composition

    Allocation as at February 2019

      Fees & Charges
      Enter an investment amount then scroll down to see an indicative example of the portfolio you would own, as well as the associated fee.
      SG Hiscock & Company Sustainable Income
      This example is an out-of-date breakdown of this model and should not be taken to represent our current thinking or composition
      Cash 1.89% $189,000
      Code Security name Weighting % Amount
      CASH Cash 1.89% $1,890
      Cash 1.89% $189,000
      Australian Shares 31.23% $3,123,000
      Code Security name Weighting % Amount
      MQG Macq Grp 1.34% $1,336
      WOW Woolworths Grp 1.05% $1,046
      NAB National Aust Bank 1.81% $1,813
      ORA Orora 1.01% $1,005
      ORG Origin Energy 1.22% $1,224
      QBE QBE Insurance Grp 1.16% $1,161
      RIO Rio Tinto 1.22% $1,222
      SCG Scentre Grp 0.98% $985
      SEK Seek 1.00% $999
      SYD Sydney Airport 0.99% $989
      TCL Transurban Grp 1.04% $1,038
      VVR Viva Energy Reit 1.05% $1,049
      WBC Westpac Banking 1.41% $1,412
      WES Wesfarmers 1.03% $1,034
      MMS McMillan Shakespr 1.04% $1,044
      JHX James Hardie Ind 1.37% $1,373
      WPL Woodside Pet 1.24% $1,237
      ANZ ANZ Banking Grp 1.65% $1,647
      ASX ASX 1.17% $1,172
      DOW Downer EDI 1.15% $1,147
      CSL CSL 1.48% $1,484
      CKF Collins Foods 1.05% $1,053
      BHP BHP 1.29% $1,287
      CAR Carsales.com 1.12% $1,124
      CBA Commonwealth Bank of Aust 2.36% $2,361
      Australian Shares 31.23% $3,123,000
      View all Australian Shares Show less Australian Shares
      International Shares 20.88% $20,878
      Code Security name Weighting % Amount
      WHT0044AU Capital Group Global Equity 8.30% $8,300
      NCP0001AU Northcape Global Emerging Markets 3.99% $3,993
      FRT0009AU Franklin Global Growth Wholesale 8.59% $8,585
      International Shares 20.88% $20,878
      Australian Property 3.95% $3,951
      Code Security name Weighting % Amount
      ETL0119AU SGH Property Income 3.95% $3,951
      Australian Property 3.95% $3,951
      International Property 4.03% $4,035
      Code Security name Weighting % Amount
      ETL0005AU SGH LaSalle Global Listed Property Securities 4.03% $4,035
      International Property 4.03% $4,035
      Australian Fixed Interest 23.74% $23,732
      Code Security name Weighting % Amount
      WBCPF CAP NOTE 3-BBSW+4.00% PERP NON-CUM RED T-03-21 2.20% $2,197
      ANZPF CAP NOTE 6-BBSW+3.60% PERP NON-CUM RED T-03-23 2.04% $2,045
      CGFPA CNV PREF 3-BBSW+3.40% PERP SUB NON-CUM RED T-05-20 2.01% $2,013
      NABPC CAP NOTE 3-BBSW+3.50% PERP NON-CUM RED T-07-23 2.05% $2,047
      MQGPB CAP NOTE 6-BBSW+5.15% PERP NON-CUM RED T-03-21 2.05% $2,045
      ETL0015AU PIMCO Australian Bond Wholesale 8.36% $8,355
      CBAPF CAP NOTE 3-BBSW+3.90% PERP NON-CUM RED T-03-22 2.03% $2,026
      AMPPA CAP NOTE 3-BBSW+5.10% PERP NON-CUM RED T-12-21 3.00% $3,004
      Australian Fixed Interest 23.74% $23,732
      View all Australian Fixed Interest Show less Australian Fixed Interest
      International Fixed Interest 11.52% $11,515
      Code Security name Weighting % Amount
      SBC0819AU UBS International Bond Fund 5.77% $5,767
      ETL0016AU PIMCO Diversified Fixed Interest W 5.75% $5,748
      International Fixed Interest 11.52% $11,515
      Alternatives 2.76% $2,756
      Code Security name Weighting % Amount
      OPT7628AU Arco Absolute Return Fund 2.76% $2,756
      Alternatives 2.76% $2,756
      100.00%
      Total
      $100,000
      Fees & Charges
      Enter an investment amount to get an estimate on your fees.
      Management fee
      0.85% $0
      +
      Indirect cost
      0.40% $0
      =
      Total Per Annum
      1.25% $0

      You will pay $0.00 per month when you invest with us based on the initial investment amount entered, and the investment manager and model portfolio chosen. All fees and charges are inclusive of GST.

      If you would like to see our fees and charges in more detail, please visit our Fees section.

      Initial Transaction Cost

      The estimated transaction cost for the funds in this model portfolio is $0

      Ready to Invest?

      Our single, simple fee covers administration and operations by OpenInvest, the services of your chosen investment manager, and any indirect costs.

      Invest
      Investment Objective
      The objective is to provide an actively managed diversified portfolio for an investor who is looking for a portfolio that will provide growth over the longer term as the primary objective but will also provide a modest level of protection in a falling market. Income is of a secondary consideration and a function of asset allocation. In order to achieve this objective the portfolio's long-term asset allocation will be split approximately 70% to growth and 30% to income assets with a total return objective of CPI +3-4%. Exposure to growth assets will be diversified across both domestic and international equity and property asset classes.
      Typical Investor
      The typical investor is focused on growing the total value of their portfolio through a combination of both capital growth and income. The portfolio would suit investors with a perpetual or long time horizon and with a higher degree of tolerance for risk and fluctuation in portfolio value. Income is most likely a secondary consideration.
      Investment Strategy and Approach
      Actively managed portfolio with a Strategic Asset Allocation of 70% to growth assets and 30% to income assets.
      Minimum Investment Amount
      $25,000

      Model Composition

      Allocation as at February 2019

        Fees & Charges
        Enter an investment amount then scroll down to see an indicative example of the portfolio you would own, as well as the associated fee.
        SG Hiscock & Company Robust Growth
        This example is an out-of-date breakdown of this model and should not be taken to represent our current thinking or composition
        Cash 2.80% $280,000
        Code Security name Weighting % Amount
        CASH Cash 2.80% $2,800
        Cash 2.80% $280,000
        Australian Shares 40.97% $4,097,000
        Code Security name Weighting % Amount
        WPL Woodside Pet 1.38% $1,384
        TCL Transurban Grp 1.16% $1,162
        SYD Sydney Airport 1.11% $1,108
        SUN Suncorp Grp 1.14% $1,144
        SEK Seek 1.12% $1,117
        SCG Scentre Grp 1.47% $1,470
        WES Wesfarmers 1.16% $1,160
        RIO Rio Tinto 1.82% $1,823
        QBE QBE Insurance Grp 1.30% $1,298
        ORG Origin Energy 1.37% $1,370
        ORA Orora 1.13% $1,125
        NAB National Aust Bank 1.58% $1,578
        WOW Woolworths Grp 1.17% $1,169
        MQG Macq Grp 1.31% $1,310
        MMS McMillan Shakespr 1.17% $1,169
        JHX James Hardie Ind 1.34% $1,344
        CKF Collins Foods 1.18% $1,179
        ANZ ANZ Banking Grp 2.15% $2,150
        WOR WorleyParsons 1.53% $1,533
        BHP BHP 2.52% $2,522
        CAR Carsales.com 1.26% $1,259
        CBA Commonwealth Bank of Aust 3.08% $3,079
        VVR Viva Energy Reit 1.17% $1,174
        WBC Westpac Banking 2.05% $2,047
        DOW Downer EDI 1.28% $1,284
        ETL0118AU SGH Emerging Companies 2.07% $2,072
        CSL CSL 1.95% $1,945
        Australian Shares 40.97% $4,097,000
        View all Australian Shares Show less Australian Shares
        International Shares 30.69% $30,692
        Code Security name Weighting % Amount
        WHT0044AU Capital Group Global Equity 10.16% $10,160
        NCP0001AU Northcape Global Emerging Markets 4.89% $4,888
        FRT0009AU Franklin Global Growth Wholesale 10.51% $10,510
        IVV iShares S&P 500 ETF 5.13% $5,134
        International Shares 30.69% $30,692
        Australian Property 7.74% $7,738
        Code Security name Weighting % Amount
        ETL0119AU SGH Property Income 7.74% $7,738
        Australian Property 7.74% $7,738
        International Property 2.96% $2,964
        Code Security name Weighting % Amount
        ETL0005AU SGH LaSalle Global Listed Property Securities 2.96% $2,964
        International Property 2.96% $2,964
        Australian Fixed Interest 12.02% $12,030
        Code Security name Weighting % Amount
        MQGPB CAP NOTE 6-BBSW+5.15% PERP NON-CUM RED T-03-21 2.79% $2,795
        CGFPA CNV PREF 3-BBSW+3.40% PERP SUB NON-CUM RED T-05-20 2.76% $2,756
        ANZPF CAP NOTE 6-BBSW+3.60% PERP NON-CUM RED T-03-23 2.79% $2,795
        AMPPA CAP NOTE 3-BBSW+5.10% PERP NON-CUM RED T-12-21 3.68% $3,684
        Australian Fixed Interest 12.02% $12,030
        International Fixed Interest 2.82% $2,824
        Code Security name Weighting % Amount
        SBC0819AU UBS International Bond Fund 2.82% $2,824
        International Fixed Interest 2.82% $2,824
        100.00%
        Total
        $100,023
        Fees & Charges
        Enter an investment amount to get an estimate on your fees.
        Management fee
        0.85% $0
        +
        Indirect cost
        0.40% $0
        =
        Total Per Annum
        1.25% $0

        You will pay $0.00 per month when you invest with us based on the initial investment amount entered, and the investment manager and model portfolio chosen. All fees and charges are inclusive of GST.

        If you would like to see our fees and charges in more detail, please visit our Fees section.

        Initial Transaction Cost

        The estimated transaction cost for the funds in this model portfolio is $0

        Ready to Invest?

        Our single, simple fee covers administration and operations by OpenInvest, the services of your chosen investment manager, and any indirect costs.

        Invest
        Investment Objective
        The objective is to provide an actively managed portfolio for an investor with a primary objective of growing the value of their investments and a high tolerance for market fluctuations and risk. In order to achieve this objective the portfolios long term asset allocation will be split approximately 90% to growth and 10% to income assets. This portfolio has a target return of CPI +4-6%. Exposure to growth assets will be diversified across both domestic and international equity and property asset classes.
        Typical Investor
        The typical investor is focused on growing the total value of their portfolio through exposure to growth assets classes such as equities and property. The portfolio would suit investors with a perpetual or long time horizon and with a high understanding and comfort level for risk and fluctuation in portfolio value.
        Investment Strategy and Approach
        Actively managed portfolio with a Strategic Asset Allocation of 90% to growth assets and 10% to income assets.
        Minimum Investment Amount
        $25,000

        Model Composition

        Allocation as at February 2019

          Fees & Charges
          Enter an investment amount then scroll down to see an indicative example of the portfolio you would own, as well as the associated fee.
          SG Hiscock & Company Maximum Growth
          This example is an out-of-date breakdown of this model and should not be taken to represent our current thinking or composition
          Cash 2.74% $274,000
          Code Security name Weighting % Amount
          CASH Cash 2.74% $2,740
          Cash 2.74% $274,000
          Australian Shares 50.34% $5,034,000
          Code Security name Weighting % Amount
          ANZ ANZ Banking Grp 2.64% $2,639
          WOR WorleyParsons 1.88% $1,882
          WES Wesfarmers 1.42% $1,423
          WBC Westpac Banking 2.01% $2,011
          TCL Transurban Grp 1.43% $1,426
          SYD Sydney Airport 1.36% $1,359
          SUN Suncorp Grp 1.40% $1,404
          SEK Seek 1.37% $1,371
          SCG Scentre Grp 1.80% $1,804
          RIO Rio Tinto 2.24% $2,236
          QBE QBE Insurance Grp 1.59% $1,594
          ORG Origin Energy 1.68% $1,681
          ORA Orora 1.38% $1,381
          WOW Woolworths Grp 1.44% $1,436
          NAB National Aust Bank 1.94% $1,938
          MMS McMillan Shakespr 1.43% $1,434
          JHX James Hardie Ind 1.65% $1,650
          ETL0118AU SGH Emerging Companies 3.56% $3,561
          DOW Downer EDI 1.58% $1,576
          CSL CSL 2.85% $2,847
          CKF Collins Foods 1.45% $1,446
          CBA Commonwealth Bank of Aust 3.78% $3,779
          CAR Carsales.com 1.54% $1,545
          BHP BHP 3.09% $3,093
          MQG Macq Grp 2.13% $2,133
          WPL Woodside Pet 1.70% $1,700
          Australian Shares 50.34% $5,034,000
          View all Australian Shares Show less Australian Shares
          International Shares 42.17% $42,173
          Code Security name Weighting % Amount
          NCP0001AU Northcape Global Emerging Markets 7.68% $7,679
          IVV iShares S&P 500 ETF 4.05% $4,052
          FRT0009AU Franklin Global Growth Wholesale 15.48% $15,479
          WHT0044AU Capital Group Global Equity 14.96% $14,964
          International Shares 42.17% $42,173
          Australian Property 4.75% $4,748
          Code Security name Weighting % Amount
          ETL0119AU SGH Property Income 4.75% $4,748
          Australian Property 4.75% $4,748
          100.00%
          Total
          $100,014
          Fees & Charges
          Enter an investment amount to get an estimate on your fees.
          Management fee
          0.85% $0
          +
          Indirect cost
          0.46% $0
          =
          Total Per Annum
          1.31% $0

          You will pay $0.00 per month when you invest with us based on the initial investment amount entered, and the investment manager and model portfolio chosen. All fees and charges are inclusive of GST.

          If you would like to see our fees and charges in more detail, please visit our Fees section.

          Initial Transaction Cost

          The estimated transaction cost for the funds in this model portfolio is $0

          Ready to Invest?

          Our single, simple fee covers administration and operations by OpenInvest, the services of your chosen investment manager, and any indirect costs.

          Invest

          Insights from SG Hiscock & Company