Our Work With Clients

David Wendell

Our first step with a new client is to consider appropriate portfolio structure and investment goals. After analyzing the existing holdings, we recommend a suitable long-range plan and make initial suggestions.

The plan is aimed at striking a sensible balance among such factors as relative inflation protection, safety of principal, income needs and growth objectives. It also serves as a basic guideline for future recommendations.

At the end of each quarter, we send clients market appraisals of their portfolios, including tax costs and income yields. We also maintain records of capital gains and losses which are submitted annually.

Under a discretionary arrangement, we have the authority to carry out transactions on behalf of the client directly with a broker or bank custodian. Clients are informed whenever changes are made in their accounts.

The custodian maintains securities and cash, collects and records all principal transactions, dividends and interest receipts, and remits income to the client according to an agreed-upon schedule. This is a very practical and convenient arrangement for most investors. Upon request, we will assist new clients in selecting a custodian who will provide these services at a reasonable overall cost.

Under non-discretionary supervision, the client receives our recommendations, executes the transactions directly with a broker and makes his or her own arrangements for the delivery and safekeeping of securities, collection and disbursement of income and related record-keeping activities.