Reports and Fees

A concise, detailed report is sent to each client at the end of every quarter. This report shows the current value of the client's account, current security positions, percentage and dollar change from the original cost of these positions, gains and losses taken during the quarter, and the performance record for the account while under management by Prentiss Smith & Company. We want our clients to know exactly where they stand.

Our quarterly reports also include a copy of the Strategy Update. This Update covers our thoughts on the economy and the financial markets. In past Strategy Updates we have outlined our thinking on interest rates, debt levels, inflation, investment manias, international economic trends, corporate governance, and energy policy. The Strategy Update also covers our future investment strategies based on our macroeconomic outlook.

Security positions owned by our clients are reviewed on a continual basis. In addition, the asset allocation and performance of each account is reviewed weekly. Clients receive monthly statements from the brokerage firm or bank where their securities are held. We review for accuracy all confirmations and monthly statements received from our clients' custodians.

Our investment management fees are based on the size and type of assets under management. Fees are payable in advance and billed at the end of each quarter at one fourth the annual rate.

Our fees are based on the following rates:

1.00% on the first $1 Million of principal
0.75% on the next $4 Million of principal
0.65% on the next $5 Million of principal
0.55% on the next $10 Million of principal
0.50% over $20 Million of principal
0.50% on all bond accounts

All fees are negotiable.

Our minimum account size is $700,000 per account.