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|Will I maintain control over my investments and how often will I receive updates on my
investments and do you offer Internet-based account access?
Generally, your assets will be held in your own account with a broker or other financial institution, not with your Financial Adviser.
You should be certain that the account established is in your name so that you always have personal access to your funds. You and your financial adviser will agree upon objectives and your financial adviser may ask you for discretionary investment authority to execute your strategy. This means they can place orders to buy and sell investments and reinvest the proceeds without obtaining your prior approval for individual transactions. This is how most discretionary investment accounts are established.
Your investment manager will need a limited power of attorney from you (included with their account applications). This allows the investment manager to place trades on your behalf, but prohibits him or her by law from transferring assets out of your account.
Each month, you should receive a statement directly from the custodian (e.g. Waterhouse Securities, Fidelity or Charles Schwab) indicating the monthly performance of your investments. This information is a detailed summary that contains information such as market values, investment dividends, interest, and security sales and purchase activity. You will receive a breakdown of the portfolio by investments. You should discuss how often you want to receive a performance summary from your Financial Adviser. We believe that quarterly performance is appropriate for most clients. Depending on the nature of your account, you will receive Internet-based on-line access via a client only page so that you may monitor your investments 24 hours a day.
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