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FAQsWhat is your current account minimum? Our current minimum for a new client relationship is $500,000 under management, which can represent multiple accounts for an individual or family. Where are client accounts held? All client accounts are registered under the client's name at Charles Schwab & Co. We retain discretionary trading authority over all accounts under our management. Why mutual funds? Mutual funds offer individual clients access to superior investment talent, at a far lower cost, than is available through other retail alternatives. For our client portfolios, we have assembled a team of outstanding stock pickers who put shareholder interests first and foremost. The managers of these funds have spent years acquiring skills, expertise, and an historical framework that is difficult for the average investor-amateur or professional - to replicate. By employing no-load, low expense ratio mutual funds, we are able to keep investor costs equal to or lower than average. Why "model" portfolios? In the early days of our advisory business, we created a unique portfolio for each client, based on their specific risk and reward parameters. But over a few years, we recognized that this opened the door to inconsistencies. We began to question the value we were adding through this additional "precision" in our client allocations. We came to understand that using a model-based approach creates a consistent decision framework, allowing us to avoid decision errors and mistakes at the individual account level. That said, in managing individual accounts, we do factor in individual circumstances, most notably taxes consequences and transaction costs, into every decision. By knowing our model targets we can do this more consistently and effectively. Why active management? We greatly admire Vanguard's John Bogle and his market-index investment philosophy. When we are unable to find a fund that has a proven ability to outperform its benchmark, we have no trouble employing index vehicles. But while great in theory, the Efficient Market Hypothesis (the one that says you can't beat an index) does not allow for the existence of such great investors as Warren Buffett, Peter Lynch, Bill Miller - or of our current core managers, such as Bill Nygren at Oakmark Select and Chris Davis at Selected American. Each of the aforementioned has demonstrated the ability to outperform their benchmarks and their peers over multiple market cycles. As noted earlier, however, we do offer a family of index-based portfolio models for clients who prefer passive over active management. What about tax efficiency? Our core mutual fund managers are long-term buyers and holders. As such, their funds are relatively tax- efficient. Certain fixed income funds that generate significant current income are best suited for tax-deferred accounts. In the taxable accounts of investors in higher tax brackets, we replace much or all of our fixed income allocations with Vanguard municipal bond funds. Can you manage 401K plans? We advise clients regarding their allocations within their company 401k plans, but we are not currently in a position to manage 401k plan assets. Where are you licensed? MW Investment Strategy Group is registered as an Investment Advisor with the State of California's Department of Corporations. Due to reciprocity agreements, we are able to manage accounts for clients residing in most other states. At such time that a registered investment advisor has in excess of $30 million under management, registration shifts to the Securities and Exchange Commission. How many people are in your Group? MW Investment Strategy Group is admittedly an odd choice of names for a one-person company. Aside from Martin Weil, who personally manages all accounts, and his support staff, the company relies on long-time relationships with trusted colleagues to offer a more comprehensive range of services. These relationships include professionals in accounting, benefits planning, insurance and law. |
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| Copyright 2005 MW Investment Strategy Group Inc. | Site Credits | ||||||||