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Working with you
Different clients have different objectives and constraints. Some clients are saving for retirement. Some clients are seeking cash flow in retirement. Still others are institutions looking for long-term appreciation to help defray operating expenses. The goals, time horizons, and willingness to tolerate volatility will determine the most appropriate allocation of assets in each investment portfolio.
Waycross meets with clients to understand these parameters. We then help clients choose the most appropriate mix of stocks, mutual funds, and taxable or tax-exempt bonds for their portfolio to help them achieve their goals.
Establishing Your Account
Waycross does not have custody of any client funds. We help clients set up brokerage accounts, usually at a discount broker. Most of our clients' accounts are held at Charles Schwab, a discount broker. Schwab sends monthly statements of client accounts, has online services, and can set up regular or on demand wire transfers to client bank accounts.
Our clients authorize us to direct the purchase and sale of securities held in their accounts by assigning Waycross a limited power of attorney. Waycross cannot access client funds except when the client has previously authorized us to initiate transfers to the client at their specific request, or for pre-authorized payment of advisory fees to Waycross.
Reporting Results
Clients receive statements monthly from the custodian of their accounts as well as confimations whenever Waycross initiates a transaction. We send a comprehensive quarterly report after the end of every quarter. In addition, we meet with clients to review their portfolio, objectives and performance. We encourage telephone calls whenever our clients have questions.
Many of our clients ask us to manage several accounts for them. We can easily do this, reporting performance and activity either separately or as a whole. When requested by clients, we are pleased to work with other professionals such as estate planning attorneys or accountants to address specific client concerns.
We pride ourselves on our long-term relationships with clients, and believe our personalized service is a major factor in their long-term trust.
What we don't do
Waycross operates on a fee only basis. We do not sell products like insurance, annuities, or mutual funds that pay us fees or commission. Our clients authorize us to direct the purchase and sale of securities that are held at a custodian in their name. We are not a custodian or a brokerage firm, and do not have access to any funds held in client accounts unless our clients request our assistance to move money to them (not a third party). No commissions or fees are received from any broker. We believe these policies allow us to act in the best interest of clients and avoid potential conflicts of interest.
Fees
Waycross is a fee based investment management company. Our fees are based on the total value of all accounts managed for a client on the last day of each quarter. We bill quarterly, in advance.
| Portfolio Value |
Annual Fee |
| $1 million or less |
1% of assets under management |
| $1 - 3 million |
1% of the first $1 million, plus
0.75% of assets over $1 million |
| $3 - 5 million |
1% of the first $1 million, plus
0.75% of assets between $1 million and $3 million, plus
0.70% of assets between $3 million and $5 million |
| Above $5 million |
1% of the first $1 million, plus
0.75% of assets between $1 million and $3 million, plus
0.70% of assets between $3 million and $5 million, plus
0.60% of assets above $5 million
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Privacy Notice Regarding Client Information
Client privacy is important to us. Under federal law, clients have a right to know what information is being collected, and how that information will be used.
We collect nonpublic personal information about clients from the following sources:
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Information we receive from clients on investment advisory agreements, investment policy statements, brokerage account applications, and other forms
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Information clients provide us orally
- Information clients direct other parties to provide us
We do not disclose any nonpublic personal financial information about clients to anyone, except in the following circumstances:
Within Waycross, access to clients' personal financial information is restricted to the employees who need to know that information to provide services. To ensure security and confidentiality, we maintain physical, electronic, and procedural safeguards to protect privacy.
All personnel sign agreements prohibiting their sharing private information about clients with a third party unless so instructed by an officer of Waycross under circumstances noted above. This agreement continues in place after employment terminates.
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