Prior to accepting a client for our asset management services, we require that they sign an investment advisory contract which clearly defines the roles and responsibilities of both parties. We next have them complete an in-depth risk-tolerance questionnaire. Based on this questionnaire we prepare an Investment Policy Statement (IPS). The purpose of this IPS is to establish a clear understanding between the client (the Investor) and Millennium Financial Services LLP (the Advisor) as to the investment goals and objectives and management policies applicable to the Investor’s investment portfolio.
- Establishes the Investor’s expectations, objectives and guidelines in the investment of the Portfolio’s assets
- Creates a framework for a well-diversified asset mix that can be expected to generate acceptable long-term returns at a level of risk suitable to the Investor, including:
- describing an appropriate risk posture for the investment of the Portfolio
- specifying the target asset allocation policy
- establishing investment guidelines and asset diversification
- specifying the criteria for evaluating the performance of the Portfolio’s assets
- Defines the responsibilities of the Investor and the Advisor
- Encourages effective communication between the Advisor and the Investor
Investment management services focus on selecting individual securities, bonds, and mutual funds that are expected to produce a rate of return identified in the IPS and consistent with the client’s risk tolerance.
The Advisor has entered into an agreement with Charles Schwab & Co. Inc., an independent and unaffiliated broker-dealer, to provide custodial services of Client accounts. Schwab will maintain Client investments in separate accounts in the Client’s name. Advisor will execute transactions through Schwab. We have chosen to use the services of Schwab exclusively to minimize costs and to reduce the administrative burden that would be imposed on both us and our Clients by maintaining accounts at multiple broker-dealers. Schwab deducts quarterly management fees from the Client’s account at the close of each quarter pursuant to the Investment Advisory Contract.
Investment accounts are updated daily to include valuations and transaction recordings. Accounts are reviewed by the investment manager at least once weekly, and reviewed by a second advisor on a quarterly basis. A formal review with the client is performed in accordance with the IPS, but not less than once annually.
Quarterly portfolio reports There’s no need to spend your time looking for a cost effective solution for your Hoodia! Purchase it for 1.68 USD right now! detail securities held, cost basis, current market value, fees and expenses, actual asset allocation versus the portfolio target, and performance calculated on both an internal rate of return (IRR) and time-weighted return (TWR) basis compared to standard benchmarks including the Dow Jones 30 Industrial Average, Standard & Poors 500 Index, NASDAQ Composite Index, Russell 2000 Index, and the iShares Core Total US Bond Market ETF. Additionally the investment manager provides customized narrative comments reflecting general market conditions and future investment plans.
Detailed information regarding Millennium Financial Services LLP can be found on-line at the SEC’s website at www.adviserinfo.sec.gov.