Your First Three Months at Allen Trust Company

Wonderful!  We have had meetings to get to know each other and talk about your future with us – we both agree that our team is a great fit for you and your family. Paperwork has been signed and the account opening process begins… but what does that really mean – what happens next?

First, we set up your account on our various computer systems and applications.  This takes the better part of a day, as we configure your account according to its legal nature, tax considerations, and so forth. Electronic links are created for portfolio management, tax reporting, compliance, and operations. We then collaborate with members of your advisory team—attorney, accountant, insurance consultant, etc.— to make certain that your assets and account are taken care of with the highest level of service and success. Once the account is set up with our systems and advisory teams, the fun can begin.

How will your account be funded?  If with cash, then that’s easy.  You write us a check, then presto!  The account is funded.  More commonly, however, your new account will be funded with assets transferred in from elsewhere.  The transfer process can take several weeks and is handled by our back office in coordination with your prior advisor’s back office.  The stocks, bonds, and mutual funds are transferred and posted electronically to your new account.  Once the assets have all arrived, we double-check to make sure your prior advisor has sent us the correct cost basis and acquisition dates for each asset before we can begin actively managing the portfolio.

Meanwhile, you are working on the Risk Assessment Questionnaire we gave you when you signed your account-opening documents.  This questionnaire has no right or wrong answers, but instead is intended to clarify your thoughts about investing.  Our portfolios are individually tailored to our clients’ circumstances, and as we go over the Risk Assessment Questionnaire together, we define how your account will be managed.  We will also ask you for prior years’ tax returns to help us understand your financial situation. 

Once the account is set up, the assets have arrived, and we have worked through your Risk Assessment Questionnaire and tax returns, we will sit down to agree upon an investment strategy and how to begin.  Your portfolio manager will go over individual securities she may want to buy or sell, and positions and sectors she may want to add to the portfolio.  This discussion will include agreeing upon a tax strategy, i.e., capital gains realization, any capital loss carryforwards you may have, and so on.  This agreed upon investment strategy is not etched in stone; it can change as the years pass and life events happen.  Nevertheless, it is a place to begin.

As we move forward, please know that we don’t want to be just your portfolio manager.  We want to become your trusted advisor, your “go to” folks as life issues arise.  We can help you with personal tax needs and financial planning, and we know many experienced professionals who can help with insurance, Medicare, law, accounting, and so forth.  We want to meet your family, we want them to know us.  We want you to tell us about your hobbies, your community involvement – the things that matter to you and make you who you are.  We want to make friends with your pets.  We want to become a part of your life, and you a part of ours, to help you reach your goals and succeed.

Thank you for joining our family.  We’re glad you’re here.