Asset Management Agreement

  • This agreement made between Turning Point Financial, Inc (the “Advisor”) and (the “Client”) confirms the engagement of the Advisor to supervise and manage the Client’s account.  The account (“Account”) will consist of all investment assets agreed upon by the Advisor and Client at the initiation of the advisory relationship and will include any additions, substitutions, and alterations occurring during the term of this Agreement.

    Managed assets include marketable securities that are acquired or held to achieve stated investment objectives.  Other assets include unmarketable securities and/or real estate holdings that are considered for asset allocation purposes, but are not managed assets and are therefore not included in the calculation of the Advisor’s fee.

    Responsibilities of the Advisor

    The Advisor will recommend:

    • An asset allocation for the Account that is consistent with the Client’s stated investment objectives;
    • Investment in certain no-load mutual funds, closed-end funds, exchange traded funds, individual or particular fixed income strategies;
    • Disposition of certain holdings, giving due recognition to the tax effect.
    As the Advisor operates on a discretionary basis, the Advisor will place orders for the Account and will then confirm proper execution of the trade(s).  The Advisor will monitor managed assets on an ongoing basis, including the effects of reinvested dividends and other distributions.  On a quarterly basis, the Advisor will report to the Client an appraisal of the Account with a comparison to the appropriate benchmarks.

    Responsibilities of the Client

    The Client will provide investment objectives for the Account upon which the Advisor can rely.  The execution of this agreement constitutes the representation by the Client that the terms hereof do not violate any obligation by which the Client is bound, whether arising by contract, operation of law, or otherwise.  The Client agrees to notify the Advisor immediately should the investment objectives change in any manner.

    The Client will provide all acquisition data on previously held assets so that the Advisor may rely on this information in analyzing the tax consequence of potential dispositions.  The Client agrees to provide the Advisor with access to all requested information on the managed assets in the Account.

    It is understood that there exists a certain amount of risk associated with investing in any marketable securities, whether equities or fixed income.  The Advisor hereby agrees to act in good faith in performing investment management services on behalf of the Client.

    Other Provisions 

    Custody of Cash and Securities

    The investment assets will be placed with such Custodian as the Advisor and Client mutually designate.  The Advisor will at no time have physical possession of any of the assets in the Account.  The preferred custodian used by the Advisor is Fidelity Registered Investments Advisor Group, (“Fidelity”).  The Client agrees to open a Fidelity Account with a Limited Power of Attorney granted to the Advisor.  This arrangement will allow the Advisor to execute trades within Fidelity with prior approval from the Client and receive statements and confirmations from Fidelity.  This arrangement does not allow the Advisor to withdraw or transfer funds, except to the order of the Client or to other account(s) of the Client.  The Advisor further asserts that it receives no compensation, fee, or commission from Fidelity or any other broker in conjunction with any Accounts under management.

    The Advisor may also recommend investments that cannot be held at Fidelity.  When this occurs, the Client agrees to authorize the Advisor to receive copies of statements and confirmations directly.

    Confidentiality

    The Advisor will treat all information pertaining to the Client as confidential financial information, except when required by law, required to effect transactions for the Client, requested by the Client’s Accountant (with prior approval from the Client), or required by the SEC or state securities regulators.

    Advisor’s Other Clients

    The Advisor may perform investment advisory services for various other clients.  The Advisor may give advice and take action in performance of its services with respect to any other clients which may differ from the advice given to, or the timing and nature of action taken with respect to, the Client.  Due to differing objectives of various clients, it may not be practical or desirable to recommend a position in a particular security for the Client that was recommended for another client.

    Assets to be managed

  • Target Asset Allocation

    Client wishes to maintain a target asset allocation of

  • for the overall portfolio. If the client wishes, this target allocation may change in the future based on his or her risk tolerance, time frame, and objectives.

    Fees

    For the services provided under this Agreement, the Client agrees to pay to the Advisor an

  • based on the schedule shown in Appendix A. On a quarterly basis, the Advisor will submit to the Client a statement of billing, which shall be due and payable upon receipt. Fees may be deducted from the Client’s account or paid by separate check. Fees will be billed in advance of the coming quarter based on the balance of the last day of the previous quarter. All fees are negotiable.

    Fees payable to the Advisor are solely for investment advisory services and do not include any trading costs payable to Fidelity Investments or any other brokerage firm or any operating expenses of mutual funds.

    If either the Client or the Advisor decides to terminate this agreement mid-quarter, a refund of the un-earned, pro-rata fees will be returned to the clients by the Advisor by the end of the month in which the agreement is terminated.

    Termination

    This Agreement will continue in effect until terminated in writing by either party. Records provided by the Client during the advisory relationship will be returned upon termination.

    Other Provisions

    No assignment of this Agreement by the advisor will be effective without the written consent of the Client. No provision of this Agreement may be waived or modified other than in writing signed by both the Advisor and the Client.

    Pursuant to the North Carolina Administrative Code, the Advisor is required to provide the Client with a copy of the Advisor’s disclosure statement, or Part II of the Advisor’s Form ADV. The Client hereby acknowledges receipt of such document upon signing this Agreement.

    Customer Identification and Suitability Information

  • Investment Attitude Risk Questionnaire

    Choose a number in answer to each of the six risk tolerance questions below. These answers will help select your Asset Allocation Target Portfolio.
    1 being NOT AT ALL IMPORTANT to 10 being VERY IMPORTANT
    1 being NOT AT ALL IMPORTANT to 10 being VERY IMPORTANT
    1 being NOT AT ALL IMPORTANT to 10 being VERY IMPORTANT
    1 being NOT AT ALL IMPORTANT to 10 being VERY IMPORTANT
    1 being NOT AT ALL IMPORTANT to 10 being VERY IMPORTANT
    1 being NOT AT ALL IMPORTANT to 10 being VERY IMPORTANT
  • * This rate of return is hypothetical and used for comparison purposes only. It is not related to any specific investment and there is no guarantee you will actually receive this rate.

    Privacy Notice

    This notice is being provided to you in accordance with the Securities and Exchange Commission’s rule regarding the privacy of consumer financial information (“Regulation S-P”). Please take the time to read and understand the privacy policies and procedures that we have implemented to safeguard your nonpublic personal information.

    INFORMATION WE COLLECT

    Adviser TURNING POINT FINANCIAL, INC must collect certain personally identifiable financial information about its customers to provide financial services and products. The personally identifiable financial information that we gather during the normal course of doing business with you may include:

    1. information we receive from you on applications or other forms; 2. information about your transactions with us, our affiliates, or others;

    INFORMATION WE DISCLOSE

    We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted or required by law, or as necessary to provide services to you. In accordance with Section 248.13 of Regulation S-P, we may disclose all of the information we collect, as described above, to certain nonaffiliated third parties such as attorneys, accountants, auditors and persons or entities that are assessing our compliance with industry standards. We enter into contractual agreements with all nonaffiliated third parties that prohibit such third parties from disclosing or using the information other than to carry out the purposes for which we disclose the information.

    CONFIDENTIALITY AND SECURITY

    We restrict access to nonpublic personal information about you to those Employees who need to know that information to provide financial products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. Nonpublic personal information means personally identifiable financial information and any list, description or other grouping of consumers that is derived using any personally identifiable financial information that is not publicly available.