As we prepare to enter an Ongoing Relationship, the Recommendations Report and its follow up meeting will have described the expectations for our role in your financial future. These expectations will be well documented and unique to your situation. There are likely to be a number of tasks that take six months to a few years for completion. Our job is to organize and facilitate these activities and keep our activities coordinated for the effort. The cornerstone communication tool for this is a Quarterly Report, written specifically for you. All the while we are “on call” for whatever financial issues arise in your life for as long as you remain a client of Resource Advisory Services. Our Methods have evolved over the years to keep us always prepared with a growing understanding of your unique needs.
To insure that we remain on task through Ongoing Relationships, we maintain an extensive Quarterly Reporting routine. The Quarterly Report is a letter discussing the status of our work for you. Every three months, we ask if there are new issues we should consider in your upcoming report and bring your Net Worth Statement up-to-date. This is not a standard newsletter to all clients. It is part of our continuing two-way communications with you. If you have asked us for assistance on a specific issue during the reporting period, we restate the disposition of that issue in the report. Some issues may have been deferred to the Quarterly Report, when a comprehensive view of your situation has our full attention. On some occasions, a Quarterly Report may require extensive research and analysis.
Because we require ourselves to provide written reports on our relationship at regular intervals, we are kept “on task” to examine your situation regularly. This helps us maintain accuracy in our understanding of your affairs and see implications for future adaptations we should help you consider. Each Quarterly Report will have some paragraphs that express our opinions on current economic conditions as a context for the decisions being considered with you. These reports become a diary of your financial life.
Retainer fees for this part of our relationship are generally determined by securities portfolios we manage. We have guidelines for minimum quarterly retainers. These are described at Retainer Relationship Fees. They cover much more than managing your investment portfolio. They make possible all the resources we bring to our relationship with you.