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What types of client do you work with?
Our clients are very diverse and have a broad range of employment backgrounds, ages and investment objectives. The majority of our clients are individuals or small business pension/401K plans but we can also work with charitable endowments and trusts. Our combined 45+ years of experience can be particularly valuable to clients who are going through a life transition such as retirement, divorce, loss of a spouse or sale of a business. We are effective in translating new financial circumstances into sustainable, long-term financial plans and investment strategies. Normally, our clients will have a minimum of $250,000 of investable assets available for management. However, the potential for a long-term client relationship is more important than the size of a client's account.
What is your investment approach?
We seek to broadly diversify a client's assets across the major worldwide investment markets. We look for attractive investment returns wherever they can be found, provided that we can invest in those markets at low cost and with controlled risk. We fundamentally believe that long-term investment performance is acquired more by participation in globally diversified investment markets than the specific investment security itself. We combine these market investments in a way to reduce risk, while not sacrificing the returns.
We will primarily use "asset class" and institutional investment vehicles to represent these markets. We will design a customized portfolio for each client based on his or her specific investment objectives. Each client portfolio is therefore unique and changes are made based on the client's individual circumstances.
What services do you provide?
We consult with the client to determine their overall financial objectives and then design and implement an investment program and financial plan that is consistent with those goals. We will continuously monitor the investments, the markets, and the client's situation to adjust or rebalance the investment holdings to reflect changing conditions. We report quarterly to clients on their investment assets and performance and encourage at least an annual face-to-face meetings to review their overall financial health and investment program.
How are you compensated and when do you get paid?
We charge a management fee based as a percentage of the value of the assets we manage. Unlike the majority of other "financial professionals", we accept no additional commissions or other forms of compensation from investment product providers or financial institutions. This allows us to recommend the lowest cost investment vehicles that are stripped of all sales loads and trails. Our management fee is quoted as an annual percentage fee and is billed quarterly in advance. For example, a 1% annual fee would amount to ~0.25% to be charged on a quarterly basis. The fee is normally deducted directly from the client account(s).
Where will my account be established?
Our primary custodian is TD Ameritrade Institutional which operates out of San Diego, CA. TDA is widely respected for their broad investment platform and superior business technology. TDA does not make any investment recommendations or give investment advice to any institutional clients. They function as a directed custodian of your accounts and are obligated to function as a independent third-party.
How will you communicate with me about my account?
You will receive a written quarterly statement from us that includes end of quarter values, investment performance reporting, management fee calculations and a commentary. Additionally, we send periodic E-Newsletters that touch on important topics of the times. Between personal visits, we are happy to communicate via either phone or email. However, clients without an email address may not have the full benefit of our timely investment commentary. Clients are encouraged to contact us at any time to discuss their investments, ask any questions or make us aware of changes in their life.
Who will be working on my account?
Denver Money Manager functions as an integrated team where all partners in the firm are involved in the client relationship. While Aaron is typically the first line of defense for service issues; Rob, Aaron & Will are all involved in developing and implementing the financial plan and investment strategy and clients are free to contact any of the three of them at any time.
Will I be able to take part in the investment decisions?
Yes, that's the whole idea. Our focus is on empowering you to be engaged with your assets and be comfortable in being involved in making decisions about them. At the outset, your investment goals, previous investing experiences, tolerance for risk, and your specific preferences will be the most important determinants of the investment strategy we recommend. As we select specific investments, we will explain to you the purpose of each one, and you will have the opportunity to either endorse, modify, or reject any particular recommendation.
We allow each client to engage us on either a "non-discretionary" or "discretionary" basis. Non-discretionary means that we must receive your approval on each and every investment change or trade before we make it. Discretionary means we can and may take an investment action on your behalf without getting explicit approval in advance, provided the action is consistent with the overall investment goals we discuss and document with you at least annually. The vast majority of our clients prefer the discretionary approach. There is no difference in management fee between the two choices.
Will I have to sell all or part of my current investments to work with you?
In most cases, there are some significant changes we would recommend, but often they can be implemented over time or can be adapted to some of your current holdings. For example, some clients may have significant unrealized investment gains in their current holdings that could trigger large capital gains taxes if they were sold. In other cases, clients have specific holdings that they have a particular desire to keep. In all cases, we will use our best judgment to recommend the most appropriate portfolio for you,then adjust and adapt it to accommodate specific concerns.
I have some investments I want to manage on my own. Can I still work with you?
Yes. Your self-managed account can be set up on our system as an unmanaged account for a nominal fee, which then allows us to execute trades for you that you direct us to make and to prepare tax and performance reports on your self-managed assets. We can then set up a separate account that will hold the assets you would like us to manage and only collect our normal fee on those assets. We only ask that the assets subject to our normal management fee meet our normal account minimums.
Will you charge me an extra fee to consult with my tax advisor, estate planning attorney or insurance agent?
No, in most cases such consultations are offered as part of our normal management fee. In fact, we welcome the opportunity to discuss tax or estate planning ideas with the other professionals that you have engaged. We realize that they may charge you for their time speaking with us, so we will not undertake such discussions without your express permission.
If you have a need to find a tax professional, attorney, or insurance agent we are happy to provide referrals to professionals we know and trust. We accept no referral fees from anyone in return for referring a client.
Can you arrange for regular payments or transfers of cash to be made from my account?
Yes. We can set up regular, periodic transfers of a fixed dollar amount on a monthly, quarterly or annual basis.
Will I get reports to help with income tax return preparation?
Yes, you will. We can send you a report of taxable events including earnings from interest, dividends, realized capital gains and capital gains distributions. We can also prepare a report showing the unrealized gains in your account at any time.
Can you provide advice on how I should invest the money in my company's 401(k) Plan?
Yes. If you are actively participating in your company's 401(k) plan, we will provide guidance on how to choose among the available funds in your company plan.
How can I get started with you?
Just pick up the phone and give us a call at 303-893-4254. We recommend starting with a brief 10-15 minute phone call to understand your overall objectives and needs. Assuming we sound like a good match, we will set up a time for a first meeting (or conference call) to begin Our Process.
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