Tallsalt provides these investment advisory services under an investment agreement granting Tallsalt authorization to execute trades in the client’s brokerage account. Client funds are held in investment accounts at unaffiliated brokerage firms.
The investment agreement between Tallsalt and its clients provides Tallsalt with full discretion in selecting securities and the amount of funds to be invested. The Company is not authorized to withdraw client funds from the account. For convenience, clients may allow Tallsalt to withdraw its fees as such fees become payable.
The managed investment account structure provides clients with total control over their assets and allows the Company to tailor the portfolio to the particular needs of the client. The following figure illustrates the basic relationships of the managed investment account structure.
The Company is compensated for its investment advisory services under a fee structure that aligns Tallsalt’s incentives with those of its clients. Tallsalt is compensated by its clients via (1) an annual management fee equal to a percentage of the assets managed and (2) an incentive fee based on the performance of individual client’s portfolio during the year.
Tallsalt does not charge commissions. However, the brokerage firms where client funds are held do charge commissions on each transaction. Tallsalt only receives compensation from its clients and does not receive any compensation from any brokerage.
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Tallsalt’s principals are committed to providing a superior level of client service. We begin by developing an understanding our clients’ financial goals. We then work with each client, and in some cases their portfolio consultant, to build a mutual understanding of how Tallsalt’s investment approach can be best tailored to assist them in achieving their goals.
As our relationship builds, Tallsalt’s principals will always be available to answer your questions. This is possible since Tallsalt’s principals are intimately familiar with the portfolios and investments of all our clients. During times of extreme flux in the market, we proactively reach out to you to discuss the impact on your portfolio.
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Clients receive a customized reporting package on a quarterly basis. The quarterly report details the investments in the portfolio, investment returns and other relevant statistics and information to provide you with a clear picture of the investments the Company is managing on your behalf. Each year, we meet with you to discuss the results for the past year and our plans for the upcoming year.
In addition to the formal reports, Tallalt issues monthly updates as well as reviews and analyses of selected companies in the portfolio.
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