1Q 2023 Client Letter
Stewards of Family Wealth
Institutional Discipline. Family Wealth.
Heron Bay Capital Management was formed in 2020 to bring institutional discipline in stock research and portfolio management to individual investors. We provide wholistic wealth management services or act as an investment manager implementing a singular investment strategy. Whatever the capacity, we work in our clients' best interest as a fiduciary and build active equity portfolios based on a defined investment philosophy.
Our Mission is to:
Understand our clients' unique needs and circumstances.
Generate the highest returns for our clients based on their needs.
Work holistically with your other trusted advisors (CPAs, Attorneys) to steward your family's goals.
Trusted Advisor. Fiduciary.
Heron Bay Capital Management specializes in investment management. We add value to a team from an existing RIA relationship or we act as a wholistic wealth manager. We provide the following services or provide input to:
Tax Planning (with your trusted resource)
Trusts and Estate Planning (with your trusted resource)
Independent. Entrepreneurial Spirit.
We specialize in stock selection and investment management.
Clients work with Portfolio Managers that implement investment management strategies, not Relationship Managers.
We are independent and utilize a fact-based investment approach.
Our risk management framework is multi-faceted, balancing diversification with concentration.
We do not sell commissioned products and do not layer fees.
We invest our family capital the same way so that we are aligned with clients.
We have competitive fees.
Founding and Managing Partner
GERALD SEIZERT, CFA, CIC
Gerry Seizert is responsible for overseeing the firm’s operational and investment teams to coordinate services for clients. He uses his passion for investing to drive research, asset allocation, and client relationships.
Before Heron Bay Capital Management, Gerry was a Founding Partner of Seizert Capital Partners, an institutional investment management company, in 2000. From April 1995 to December 1999, Gerry served Munder Capital Management, LLC as a Managing Partner and Chief Investment Officer – Equities. From January 1998 to July 1999, Gerry was also the Co-Chief Executive Officer of Munder Capital Management. From December 1984 to April 1995, Gerry was employed by Loomis, Sayles & Co., L.P. From January 1991 to April 1995, he was the Managing Partner of the Detroit office, a member of the firm’s Board of Directors and served on the firm’s Investment Policy Committee. Prior to 1984, Gerry was employed by First of America Bank, where he was a Vice President and Portfolio Manager. Prior to coming to Michigan in 1978, Gerry was with BancOne, where he worked for the holding company in a strategic planning capacity. Prior to BancOne, he was employed by Austin Financial Advisors, a firm specializing in consulting to banks and bank holding companies.
He currently serves as Trustee for Beaumont Hospital serving on the Financial Subcommittee on Investments and is a Director of the Advent/Claymore Funds. He is a member of the CFA Society of Detroit.
Post-Secondary Educational Background:
University of Toledo, Bachelor’s Degree in Finance: 1975
University of Toledo, Master’s Degree in Finance: 1977
Heron Bay Capital Management ("HBCM") is a Registered Investment Advisor ("RIA"), located in the State of Michigan. HBCM provides investment advisory and related services for clients nationally. HBCM will maintain all applicable registration and licenses as required by the various states in which HBCM conducts business, as applicable. HBCM renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or pursuant to an applicable state exemption or exclusion.
Please read these terms and conditions of use (“Terms”) carefully before using the website located at www.heronbaycap.com (“Website”) or any of the information or services provided by Heron Bay Capital Management (collectively “HBCM, “we”, “our”, “us”) in connection with the Website. By using the Website, you acknowledge that you have read and understood these Terms and accept to be legally bound by them. If you do not accept and agree to these Terms, you are not an authorized user of the Website or any of the information or services provided by HBCM in connection with the Website and should promptly terminate all use thereof. The terms “you” and “your” mean you and any entity you may represent in connection with the use of the Website. You may use your browser to download or print a copy of these Terms for your records.
HBCM reserves the right to change, modify, add or remove portions of these Terms at any time for any reason. We suggest that you review these Terms periodically for changes. Such changes shall be effective immediately upon posting. You acknowledge that by accessing our Website after we have posted changes to these Terms, you are agreeing to these Terms as modified.
These Terms were last updated on February 1, 2021.
Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable.
Asset allocation may be used in an effort to manage risk and enhance returns. It does not, however, guarantee a profit or protect against loss. Performance of the asset allocation strategies depends on the underlying investments.
This website is intended to provide general information about HBCM and its services. It is not intended to offer or deliver investment advice in any way. Information regarding investment services are provided solely to gain an understanding of our investment philosophy, our strategies and to be able to contact us for further information.
Market data, articles and other content on this website are based on generally available information and are believed to be reliable. HBCM does not guarantee the accuracy of the information contained in this website. The information is of a general nature and should not be construed as investment advice.
Please remember that it remains your responsibility to advise HBCM, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services.
HBCM will provide all prospective clients with a copy of our current Form ADV Part 2A ("Disclosure Brochure"), Form ADV Part 2B, which is the Brochure Supplement for each advisory person supporting a particular client, and the Form ADV Part 3 (Client Relationship Summary or Form CRS). You may obtain a copy of these disclosures on the SEC website at or you may Contact Us to request a free copy via .pdf or hardcopy.
HBCM does not collect personal non-public information through this website; however, the Advisor may collect information from you on application forms, agreements, profile or investment policy statements, and other documents received or processed in relation to services we provide. We also may collect information from other sources.
We do not respond to "do not track" requests because we do not track you over time or across third party websites to provide targeted advertising. We may track you across our website to help us improve our content.
We may use "cookies" and similar online technologies to keep, and sometimes track, information about you regarding your usage of our website. Cookies are small data files that are sent to your browser or related software from a Web server and stored on your device. Cookies help us to collect information about your usage of our website, including date and time of visits, pages viewed, amount of time spent on our sites, or general information about the device used to access the site, such as the browser used. You can refuse to store or delete cookies by configuring your web browser settings. Most browsers and mobile devices have their own settings to manage cookies. If you refuse a cookie when on our website, or if you delete cookies, you may experience some inconvenience in your use of our website, such as having to re-configure preferences.
HBCM often communicates with its clients and prospective clients through electronic mail (“email”) and other electronic means. Your privacy and security are very important to us. HBCM makes every effort to ensure that email communications do not contain sensitive information. We remind our clients and others not to send HBCM private information over email. If you have sensitive data to deliver, we can provide secure means for such delivery.
Please note: HBCM does not accept trading or money movement instructions via email.
As a registered investment advisor, HBCM emails may be subject to inspection by the Chief Compliance Officer (“CCO”) of HBCM or the securities regulators.
If you have received an email from HBCM in error, we ask that you contact the sender and destroy the email and its contents.
If you have any questions regarding our email policies, please Contact Us.
HBCM may utilize third-party websites, including social media websites, blogs and other interactive content. HBCM considers all interactions with clients, prospective clients and the general public on these sites to be advertisements under the securities regulations. As such, HBCM generally retains copies of information that HBCM or third-parties may contribute to such sites. This information is subject to review and inspection by the CCO of HBCM or the securities regulators.
Information provided on these sites is for informational and/or educational purposes only and is not, in any way, to be considered investment advice nor a recommendation of any investment product. Advice may only be provided by HBCM’s advisory persons after entering into an advisory agreement and provided HBCM with all requested background and account information.
If you have any questions regarding our policies, please Contact Us.