HOW WE WILL COMMUNICATE WITH YOU
Clear and frequent communication is the secret to any successful
relationship, including your relationship with your asset
manager.
Concord has built its business by keeping its clients
informed. Some clients want the comfort of a steady stream
of information; others, the convenience of a simple annual
update. Whatever your preference, we will happily meet
it so that you can feel secure in our partnership, that
we are working for your best interests.
Concord uses many avenues of communication, including:
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• Ready
access to your own professional portfolio manager.
The answers to any questions are only a phone call away.
• Easy-to-understand
quarterly statements.
• Clear, simple documentation
for tax reporting purposes.
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The Research
Report,
our monthly newsletter which discusses the latest economic
and market news underlying our investment decision-making.
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The communication process begins when you meet your new
portfolio manager. You will meet with your portfolio manager
at least once a year to review your goals and guidelines
and to discuss your portfolio’s overall progress.
And throughout the year, you will receive periodic calls
from your manager about your portfolio and the markets.
Your portfolio manager has one job - to watch your portfolio
and make sure you are satisfied. We believe there is a
high correlation between the amount of time and talent
devoted to a portfolio and its rate of return.
Each month you will receive Concord’s Research
Report that informs you of our latest thinking on the economy
and the markets.
Each quarter, you will receive your Concord Reports. Included
will be the Portfolio Summary, which allows you to see
at a glance what all of your portfolios are worth as
well as showing your asset mix, the amount of money invested
in each market sector and industry. As part of this report,
you will also receive a Client Appraisal, a more detailed
report of the individual securities held in each portfolio
you own which includes information such as:
• market
value as of the end of the quarter,
• purchase date,
• cost basis,
• realized and unrealized gain or loss,
• annual income, and
• current yield. |
In February each year you will receive Realized
Gains and Losses and Income and Expenses
reports. These reports
contain the results of all capital transactions, interest
and dividend payments received, foreign withholding taxes
paid and management expenses charged for the period Concord
had management responsibility for your accounts. This report
can be an invaluable tool for you and your tax preparer
when it’s time to prepare your income tax form.
For each month in which your account has activity, you
will receive a custody statement from your broker/custodian
showing:
• the
market value of your securities as of the end
of the month;
• your money market
balance as of the end of the month;
• transactions
made during the month;
• any open (unfilled)
orders; and
• an estimate of your annual income.
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Additionally, each time a trade is made in your account,
you will receive a trade confirmation from the executing
broker.
For Concord, it’s not just about doing a good job – it’s
also about making sure our clients are comfortable with
the job we are doing. We believe the only way of doing
that is through regular communication. Only by investing
the same time and energy into our clients as we do into
their portfolios can we hope to achieve what we consider
the ideal client/asset manager relationship. We hope you
will come to believe what we have always known – an
educated relationship is a successful one.
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