Private Account Wealth Management Services
Our management services are set up so that we never have actual access to client funds, which is further explained within the agreement and throughout this web site. We would suggest that you review the setup procedures provided below for our wealth management services, should you have an interest in proceeding forward with our services.
Private Account Wealth Management Services Setup Procedures:
The Private Account Wealth Management Services is a secure and confidential arrangement between you, the client, and Wavetech Enterprises, LLC. This is possible as the client sets up and funds an account in their own individual or trust name, and/or business name at Fidelity Investments, Charles Schwab, Wells Fargo Bank,TD Ameritrade or another preferred discount brokerage firm. Please specify, if you have a different discount brokerage firm and/or bank that you would prefer, and we would be glad to see if their Self-Directed Online Brokerage Services are compatible for our Private Account Wealth Management Services.
Simply visit one of these preferred discount brokerage companies’ or banks’ local offices with copies of your most recent brokerage firms’ statements. Instruct the sales representative to transfer all or part of your ordinary taxable funds and/or tax-deferred funds to meet the minimum investment requirement or desired amount, whichever is greater. Further instruct the sales representative that you wish to setup a self-directed account with authorization for online trading (i.e., individual account, trust account, corporate account). A combination of both taxable and tax-deferred funds for this management services is quite common. The most popular tax-deferred fund types are: SEP’s, IRA’s, ROTH’s and/or Employee Profit-Sharing Plans.
We operate within the “Exemption from Registration” provision provided by the Code of Federal Regulations (CFR) Title 15, Chapter 2D, Subchapter 2D, Subchapter II, Section 80b-3. This provision allows investment firms to operate their business without the registration provisions, and the large expenses associated with such a process. Investors’ funds remain securely in their name at the preferred major brokerage firms and/or banks mentioned above, while, we manage the funds “Online.” We operate within the section where “Investment Advisers who need not be registered” CFR provision mentioned above — Section 80b-3.
Please remember that whatever type of account you chose to setup with either brokerage firm, it will be their understanding that you are the trader for the account and its primary contact. Once the account is setup and funded, your time requirement for the account will be only about 10 minutes per calendar quarter. You will be able to monitor the performance online throughout the world. This type of confidentiality is commonly practiced throughout Europe with large Private Banks and we extend this type of arrangement to our clients, while keeping our business relationships strictly private. Our arrangement will, as stated within the investment advisory agreement, remain confidential between you, the client, and Wavetech Enterprises, LLC.
This privacy is one of the reasons for our higher rates of return, which allows us to execute smaller trades for individual accounts instead of larger ones for a group. Normally, these large trades would draw attention, reducing the level of profitable trades and net returns for our clients. It also allows us to offer five different trading models for clients with varying risk tolerance levels and investment profiles as well as never having access to the clients’ funds.
Your new sales representative will be able to advise you on the amount of the transfer charge, if any, for setting up and funding your new brokerage firm account and/or bank account. Please be sure to have your new sales representative determine if there would be any penalties for transferring any or part of the tax-deferred funds to the new brokerage account. You may be restricted to transferring only a portion of the tax-deferred funds due to commissions charged by your current brokerage firm. Your new sales representative will be able to advise you on how much can be transferred without a penalty and what the penalties would be for transferring the remaining amount of funds. It will not be necessary to contact your current stock broker through this entire process, as it is likely he or she would simply make every attempt to deter you from using an actual investment manager. Stock brokers, who derive most, if not all, of their income from commissions and add-on fees, commonly refer to themselves as financial advisors, financial planners, financial sales representatives. Their interest is in creating transactions to produce commissions as well as add-on fees, which we feel are direct “conflicts of interest” with the client.
When filling out the discount brokerage firm material, please be sure to comply with the following areas of the application:
1. The brokerage firm application may ask you if your account will be a managed account. The answer is “no,” since your funds will not be placed into a fund or group of funds or institutional account, but will be self-directed and managed by you.
2. Please be sure to submit the application authorizing your account for online trading. Also, check the box “trading access only,” when filling out the application, which will further allow your funds to remain securely in your name, trust or corporate account.
You will be able to provide us trading ability with the new account number and access code, once the account is setup and funded, as agreed upon through our Wavetech Enterprises, LLC’s Private Account Wealth Management Services Investment Advisory Agreement.
We appreciate your interest in our Private Account Wealth Management Services and look forward to providing further clarification on our information contained within the web site as well as the selected brokerage firm account application. Furthermore, we would be willing to review your existing investments, either over the phone or in person, to see which trading model would best meet your needs for proper diversification. You are welcome to call or e-mail us using the Contact Us information link.