Frequently Asked Questions
Oliver Capital Management has provided
the following list of frequently asked questions to better help
you understand what is necessary to establish an account and how
we operate.
Beginning the Relationship
How do I open an account?
What is the minimum I need to open an account?
I don’t live in the Seattle area. Will Oliver
Capital Management still work with me?
Account Maintenance
How often do you review my investments?
Can I get money out of my account quickly in case of an emergency?
One of my needs is monthly income. Can you wire money to my bank
account every month automatically?
How often will I receive statements on my account?
Can I have duplicate statements sent to my accountant or to another
address as well?
Can I see my account balance and transactions on the
Internet?
Fees
How much do you charge for your services?
How do I pay for Comprehensive Wealth Management services?
Will I be charged a fee even if my investments lose money?
General
Is my account guaranteed/protected?
What if I want to close my account? Will I have to pay a penalty?
Beginning the Relationship
How do I open an account?
Opening an account at Oliver Capital Management is easy. The
first and most important step is an initial meeting in which
we get to know
you, your financial goals, your resources, your unique concerns
and your vision for your future. In the process, together we
will complete
an extensive confidential questionnaire. Then we develop what
we believe are the best solutions specific to your situation,
including an appropriate asset allocation model. We'll prepare
all the documents necessary to open your account. If
you're transferring assets to Oliver Capital Management from
an account with another firm, we'll take care of all required
paperwork to facilitate the transfer. Click
here for New Account and Transfer information.
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What is the minimum I need to open an account?
Every Client is unique. Instead of publishing pre-established
minimums, we prefer to meet individually with Clients to determine
whether or not our proprietary Comprehensive Wealth Management system is suitable.
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I don’t live in the Seattle area. Will Oliver Capital
Management still work with me?
Oliver Capital Management clients are located in just about every
state across the country. They have heard about our Comprehensive
Wealth Management system through friends, family and colleagues.
Obtaining the advantages of our Comprehensive Wealth Management System does not require that we meet in person. However,
we do try to meet with all of our clients at least once a year,
even if that means we fly out to visit you.
Additionally, OCM holds regular Comprehensive Wealth Management and
timely investment seminars throughout the United States.
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Account Maintenance
How often do you review my investments?
The Private Institutional Money Managers (PIMM) we employ to manage
each asset class we deem appropriate review your accounts and
the holdings therein on at least a daily basis. We will meet
with clients on a quarterly basis, either in person or by telephone
to review your account and your current circumstances. At these
meetings, we will
also re-balance each asset class to ensure you do not become
over-weighted in any
one asset class due to over under performance during any given
quarter. We can, and often do review accounts more frequently
if necessary
and make recommendations accordingly. We ask our clients to
inform us immediately of any major life changes that may affect
the overall Comprehensive Wealth Management plan we have established.
Examples include an inheritance of substantial assets, marriage,
divorce, a change or loss of your job, a major change
in your
health
or a major new financial obligation.
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Can I get money
out of my account quickly?
Yes, we can usually transfer money (via fed fund wire or otherwise)
into your designated bank account or issue a check from your
account within 24 hours or less.
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One of my needs is monthly income. Can you wire money to my bank account
every month automatically?
Yes, we can. We can establish automatic transfers
on a monthly quarterly, bi-annual or annual basis. There is no
charge for
this service.
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How often will I receive statements on my account?
You should receive a statement from us in the mail once a month.
You can always access your account online as well. If you are
an existing client, click here to login.
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Can I have duplicate statements sent to my accountant or to another
address as well?
Yes, we can arrange that. We can also make sure your
accountant receives any other relevant information, including year-end
statements that includes tax information.
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Can I see my account balance and transactions on the Internet?
Yes.
In addition to account balances and transactions you will also
be able to view security cost basis and date of purchase information,
research,
quotes, cleared checks and Visa transactions. If you are an existing
client, click here to go to log-in.
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Fees
How much do you charge for your services?
We pride ourselves on being very competitive in this category. We have structured
our fees to be more client friendly and are based only on assets under professional
management. We do NOT charge a fee on cash and assets that are simply held
in an account but not strategically managed, once published account minimums are met.
At our first meeting, we will go over the fee structure in detail
and answer any questions you may have. You will know exactly how much you will pay for our services before we begin a formal business
relationship.
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How do I pay for Comprehensive Wealth Management
services?
On the last day of every quarter, Oliver Capital Management will
take a snapshot of assets under management and multiply 1/4 of
the agreed
upon annual management fee percentage by this amount. This fee will
be automatically
deducted from your account as pre-payment for the following
quarter. The fee deduction will be shown on your statement the
month following.
If you transfer assets out of a professionally managed account, your
account will be credited any unused portion
of the fee previously billed for the quarter.
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Will I be charged a fee even if my investments lose money?
Yes. We know some
investors would like to pay for service only if they make money,
but federal law prohibits us from working on an incentive basis.
Additionally, it is important to note that if the general market declines
by 10% and your portfolio only loses 5%, then Oliver Capital
has added value. We believe it is just
as important to
preserve your assets in a declining market as it is to participate
fully in an upward trending market. Of course we hope your investments
will not lose money and will grow over time. Our
interests are the same as yours - as your assets grow, our
fee grows along with them.
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General
Is my account guaranteed/protected?
Yes. All accounts managed by Oliver Capital Management carry Securities
Investor Protection Company (SIPC) coverage of $500,000 (cash
claims limited to $100,000). All assets managed by Oliver Capital
Management
are custodied by Fidelity Institutional Brokerage Group and/or Charles Schwab Institutional Brokerage Group and
are therefore protected by SIPC. An explanatory brochure
is available upon request or at www.sipc.org.
In addition to SIPC coverage, your accounts are also protected by
Asset Guaranty Insurance Company, often referred to as Asset Assurance.
Asset Assurance protects client accounts that have not been fully reimbursed
by an SIPC distribution. A protected client whose missing securities
and cash exceed the SIPC distribution will receive a further distribution
from Asset Guaranty up to the coverage limits provided by the Asset
Assurance Program. For clients of Oliver Capital Management, this additional
coverage above and beyond SIPC coverage is equal to a total of thirty
million dollars ($30,000,000). This additional protection is offered
at no additional cost to clients of Oliver Capital Management.
Remember, this account protection does not cover declines in the market
value of securities. SIPC coverage and additional coverages provided
do not apply to investment
advice or financial planning services.
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What if I want to close my account? Will I have to pay a penalty?
No. You may terminate an account at any time without any penalties
or fees assessed by Oliver Capital Management. Your account will
be credited any unused portion of the quarterly fee. We ask
that provide written notice of
their intention to terminate the services of Oliver Capital Management.
If necessary, we can expedite any immediate transactions that
you wish to make in conjunction with closing your account.
If you terminate your agreement with us, we will
not sell any assets held in your account unless you instruct
us otherwise.
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