We develop and
continuously review client portfolios. Records are kept of all transactions.
Periodic inventories are delivered to clients. A schedule of gains and losses is
delivered to the client and their accountants at year end. We manage
discretionary and advisory accounts. In a discretionary account we make
decisions and advise clients as to the reason. In an advisory account we submit
recommendations to clients before placing purchase or sale orders.
We work closely with the client's broker, custodian banks, trust
officers, hedge fund and mutual fund companies. This includes negotiating
favorable fees from these service providers. In some cases we introduce
clients to brokers with whom we work. Our closest relationships are with
Merrill Lynch, Morgan Stanley and the Vanguard Group. We never receive fees
nor any form of compensation from financial or professional firms.
Estates, Trusts and Charity
We often work with a client's attorney,
accountant and insurance agent to assist in minimizing taxes and fulfilling
multi-generational investment objectives.
Business Consulting and Appraisal
We advise clients on issues relating to businesses and partnerships. We
can help a company maximize the returns of their pension and profit sharing
plans. In some cases we are called upon to value closely held businesses.