Why do I need a professional investment manager?
As with accountants, lawyers and plumbers, people hire investment professionals to help them with the specialized task of managing their money, while they focus their time and effort on other matters. Managing investments requires objectivity, substantial knowledge, and plenty of time to monitor the markets and watch for opportunities. The right investment manager can keep your investment program moving forward to help you achieve your long term financial goals.<
What type of clients do you work with?
The majority of our clients are individuals, most of whom have built up their investment assets from regular savings. Many of these individuals have IRA accounts which were rolled over from a retirement savings plan such as a 401k. We also manage employee benefit money for corporations and endowments for charitable organizations.
How does Robshaw & Julian Associates differ from a traditional stockbroker? What is the difference between a Registered Investment Advisor and a broker/dealer?
Robshaw & Julian Associates, Inc., is a "fee-only" registered investment advisor. As an asset management firm, we are concerned with the growth of your portfolio and the protection of your assets. We are not a sales organization. We work directly for you, the client, and receive no compensation from any other source. A stockbroker is a sales person, who is generally compensated by commissions relating to trading activity by generating the sale/purchase of a security through their firm.
Who regulates Robshaw & Julian Associates?
Robshaw & Julian Associates, Inc. is an SEC Registered Investment Advisor and as such must abide by all applicable rules under the Investment Advisors Act of 1940. The Securities and Exchange Commission conducts periodic reviews of our compliance with their rules.
I don't live near your Buffalo office. Can I still do business with you?
Yes. Many of our clients live outside of the Buffalo area. While an initial face-to-face meeting is helpful in establishing a good working relationship, subsequent written, e-mail and phone contacts can deliver all of the benefits of our service.
How are you compensated? When do you get paid?
Clients are assessed a management fee, in advance of each quarter, that is based on the market value of their account at the end of the previous quarter. For example, an account valued at $100,000 on December 31, with a 1% management fee, would be charged $250 (1/4 of 1%) for the first quarter. The account will be charged the next quarter's fee based on the value of the account at the end of the previous quarter. The management fee is deducted directly from your account and, as a courtesy, you will receive a fee deduction notice in the mail. The fee deduction will appear on your statement.
Will my account information remain confidential?
Robshaw & Julian Associates will not disclose your name, your personal information or your account information to anyone except regulatory authorities without your express permission. Our Privacy Notice expresses our official policy.
How much do you charge for your services?
Our investment advisory fee is based on the size of your account. Accounts up to $500,000 are charged 1% per year. Amounts greater than $500,000 are charged at 6/10ths of 1%. Multiple accounts are grouped for fee calculation purposes.
Will you charge extra to consult with my tax advisor, insurance provider or attorney?
No. Coordinating your investment program with your other advisors is an integral part of our service.
Are your investment management fees tax deductible?
The IRS does allow a deduction for investment management fees but you should consult with your tax advisor to determine if it applies in your situation.
Who holds the securities in my account. How are my assets kept safe?
Robshaw & Julian Associates. Inc. will supervise and manage your account but the assets will be held by a custodian firm. The limited power of attorney extended to us as an investment advisor allows trading authorization only, but at no time do we ever have possession or custody of your investments. We have chosen an online custodian firm that charges a low flat trade for transactions to ensure limited fees. The firm also provides legal and insurance protection for the client assets in their custody.
If I need my assets for other purposes is there a termination fee?
No. Robshaw & Julian Associates, Inc. never loses sight of the fact that the assets entrusted to our care are yours. If you have other pressing needs for the money in your account we will help you get the money out of the account as quickly as possible. There are no cancellation or redemption fees. We look forward to you re-opening your account when circumstances have changed. Fees for closed accounts are reimbursed on a pro-rata basis.
Can I have multiple accounts with you?
Yes, that is quite common. Many of our clients have an individual account, a joint account with their spouse, and IRA's as well. We can also set up custodial accounts for children, college education funds, and trust accounts. On some of the smaller sized accounts, however, the investment choices are limited. We do require a minimum account size before an account is open, so at least one of the accounts needs to satisfy the minimum.
What reports will I receive and how often?
You will receive regular reports of assets and transactions from the custodian of your account. These can be provided on a monthly or quarterly basis. You may also obtain detailed reports helpful for filing your income tax. Many of our clients receive specialized reports based on their individual needs. These can range from narrative reports by the portfolio manager to quantitative performance analysis. We will make every effort to satisfy your special reporting needs. You also have the option of accessing the desired reports online directly by logging into your Charles Schwab account.
Can I have duplicate statements sent to my accountant, trustees or other interested parties?
Yes. There is no extra charge for duplicate statements.
Can I get my money out quickly in case of emergency?
Yes. We can usually have money wired directly into your bank account or issue you a check within 72 hours - excluding holidays, or barring some unforeseen occurrence. Ideally, if you need to make a withdrawal, it would be very helpful if you would notify us in advance so the requisite amount of cash is available. Also, it is important to keep in mind that making unplanned withdrawals from your account may hamper the ability of your portfolio manager in making investment decisions. As a contingency, we recommend that you maintain a separate emergency fund, so that we don't have to unexpectedly sell long-term investments that may create an unnecessary loss in your account.
How do I get started?
Meet with your Robshaw & Julian advisor to determine the strategy for your account.
Complete our one page Investment Advisory Agreement.
We will assist you in setting up a custodian account, and we will provide all the necessary forms.
We can also help you deposit your funds or transfer an account(s) from your current custodian, broker, bank etc.
For further details see "Your Robshaw & Julian Account."
How long does it take to get fully invested?
There is no simple answer to this question. Whether your account starts out partially invested or 100% in cash, the time it takes to become fully invested varies with market conditions. In a majority of cases accounts are fully engaged within a few months.
Will you notify me before you make trades in my account?
No, we will not. We make trades in each account according to the strategy on which we agreed. Robshaw & Julian Associates, Inc. is a discretionary money manager, not a sales organization. It is our job to manage your investment portfolio based upon your risk tolerance and investment objectives. We seek to make the necessary moves to protect your assets and to achieve an attractive return on your investment. We take the decision making out of your hands, thereby alleviating you from this burden.
What about my existing portfolio? What will you do with it?
Except for taxable accounts with substantial embedded capital gains, we will fully convert your portfolio into a Robshaw & Julian Associates model. We put our best efforts into selecting and monitoring securities for our client portfolios and it is impossible for us to adequately follow all the securities which clients bring over from previous advisors.
I own some stock that I want to retain but I don't need you to manage it. How would you handle this?
We recognize that it is convenient to keep your assets together, including those which you do not want us to manage. If you need to keep these securities in your managed account we can arrange to deduct the value of this security when your investment management fee is calculated.
What is the best way to add money to my account?
Most people add money by check. The check should be made out to the exact name of your account, including the account number. Third party checks can be endorsed with the addition of "for deposit to (account name and number)" Checks should be mailed directly to your account representative at the custodian institution.
If you have a banking relationship with the custodian a direct transfer to or from your account can be arranged. Money is also commonly wired into or out of accounts, but this may involve a charge.
How will you communicate with me about my account? How often will we meet?
The manner and frequency of our communications with you is based on your preferences and your personal relationship with your portfolio manager. For clients living nearby, face-to-face meetings two to four times per year are typical. Most clients also receive quarterly or semi-annual personalized letters from their portfolio manager as well as the firm's quarterly newsletter. New clients often want more contact while long term clients are usually happy with less. We pride ourselves on being available to our clients.
Will I be able to view my accounts online?
We use Charles Schwab custodians allow online access to accounts.
Will I receive annual reports and proxy voting forms for each stock I own in my account?
You have a choice about whether to receive mailings from stocks which you own. In most cases our clients choose not to receive these materials. Robshaw & Julian Associates is able to vote proxies on behalf of our clients, thereby relieving them of this burden. Our Proxy Notice summarizes our proxy voting policies.