Mowrey Investment Management (MIM) seeks to serve our clients by helping them to clarify and pursue their investment goals. In summary, the process we use is as follows:
1) Initial Meeting
The purpose for this meeting is to give both parties a chance to learn more about the other. The potential client and Mr. Mowrey will discuss careers, family, and financial issues. MIM will identify goals, expectations, time frames, and comfort with various investments and return profiles. We also discuss account minimums, savings philosophy, expectations for communication (how frequently) and the most desirable method for communication (email, phone, in-person, etc.) After this meeting, both parties can determine if the chemistry is correct for an ongoing relationship.
2) Gathering Information
This task is typically accomplished via a combination of interview and a review of past documentation (e.g. account statements, etc.). The objective is to ensure that MIM has a good picture of the client's financial assets, liabilities, expectations, and time frames.
3) Strategy and Plan Development
With the previously mentioned tasks complete, MIM proceeds to develop and document an investment strategy for the client and an initial tactical plan. This document outlines the overall approach that will be used to manage the clients accounts (e.g. taxable, IRAs, 401k, etc.). At the completion of this document, the client and Mr. Mowrey meet by phone or in person, to assure understanding and approach. Should both parties decide to move forward, this document serves as a starting point in moving forward.
4) Quarterly Reporting
At the end of each quarter (last business day of March, June, September, and December), MIM prepares a quarterly report which includes: A summary of the market's performance (stocks, bonds, domestic and international), a summary of the client's portfolio's performance, and MIM's opinion of the future direction for the markets. This report also contains an invoice for the services provided, and charts/spreadsheets of data summarizing account holdings, asset allocations, return-on-investment (ROI) statistics for portfolio investments, account growth, and completed transactions.
5) Ongoing Communication
Based upon the client's preferences, Mr. Mowrey and the client communicate on an as needed/desired basis. Some clients desire communication bi-weekly, others bi-annually. Some prefer to be updated via email, others prefer telephone or in-person meetings. Whenever or however these discussions take place, it is imperative that they occur. Client circumstances change, and MIM needs to be kept abreast of any changes so that they the management of assets can continue in an appropriate/intelligently informed manner.