Investment Policy Statement and Client Engagement Agreement
We create an Investment Policy Statement (IPS) and Client Engagement agreement for each client. It describes how we work with each client and the scope of the engagement. It identifies investment and asset allocation restrictions and defines due diligence with respect to selecting proposed investments. The IPS identifies specific client and advisor responsibilities and describes the conditions for terminating the agreement. An agreed fee for service is also defined in the IPS. Both client and advisor sign the IPS as agreeing to its terms. A proposed portfolio of specific investments usually accompanies the IPS.
We offer two ways to help you make the most of your assets. The Wealth Management arrangement is the most commonly used service and is for the client who seeks professional design and oversight of their investment portfolio. This service includes monthly reports and regular meetings with the advisor at least annually. Portfolios are reviewed in depth at these meetings, in light of changes in the markets and in their lives. No discretion is taken in client accounts and changes are made in the investments with the client’s present consent. All services performed for the client are covered by an agreed management fee. Complimentary financial planning is included with this service arrangement. We also provide oversight and investment recommendations for your outside retirement accounts. You receive monthly reports for your managed accounts and we meet at least annually, but most often quarterly.
Alternatively, clients may choose to only Consult the advisor as a financial professional. You manage your investment portfolio. We bill you at an hourly rate to review your portfolio and offer investment advice consistent with your objectives.
Under this arrangement, consulting clients may receive assistance in designing a diversified portfolio which they oversee and implement trades themselves. As they determine, the client can meet with the advisor periodically to review the balance and relevance of the portfolio. A consulting client may also receive a financial plan, a retirement projection, a cash flow projection, an estate plan review, or any other single purpose consultation as a one-time or ongoing service. These services are offered at an hourly rate.. All consultant services are billed at an hourly rate. Refer to our Disclosure for current rates.