Transparency is very key when turning over your savings to a money manager. Questions you need to ask: What is the fee structure? Is the Advisor making money in fees that I’m not aware of, from products in my portfolio from which he receives incentives. These products may not be in my best interest to invest in. Who is the Custodian? i.e., Who holds and control’s the client’s assets? Is it a large reputable firm? Who is the Administrator? i.e. Who prepares and sends out account statements, calculates returns, etc…
Never invest your savings with an Advisor who does not use a large reputable third party Custodian and Administrator. Never invest with an Advisor who is his own Custodian and Administrator and performs such functions “in house”. Sag Harbor Advisors uses Interactive Brokers as its Custodian and Advisor. SHA does not hold the assets itself as Custodian, nor does it have any input in producing statements. Clients may view their portfolio at any time on the IB website. Clients may end their relationship at any time, transfer money in and out at any time, or transfer their entire portfolio to another Advisor at any time.
SAG HARBOR “DUE DILIGENCE” SERVICES
- Sag Harbor Advisors will inspect your portfolio at no charge to search for hidden fees and commissions, collected by your legitimate Advisor, of which you may not be aware, yet are perfectly legal. How to Detect Hidden Fees
- Sag Harbor Advisors, at no cost to you, will look at the investment offering being pitched to you to determine if it is legitimate or an illegitimate scheme. Is your Advisor legitimate?