Investment Agreement Template printable pdf download

INVESTMENT MANAGEMENT AGREEMENT

This agreement is entered into among _____________ ______________________ (the "Client") and Tillar-Wenstrup Advisors, LLC ("Advis o r"),

(1065 E Centerville Station Rd. Dayton OH 45459) a registered investment adviser.

Account Management. The Client is opening a discretionary advisory account (the "Account") with Adviser. The Client authorizes Adviser to buy,

sell, or otherwise trade securities or other investments in the Account without discussing the transactions with the Client in advance. Such securities may include,

but are not limited to, common or preferred stock, convertible stocks or bonds, options, warrants, rights, corporate, municipal, or government bonds, and notes

or bills. The Client also authorizes Adviser to take all necessary action to open and maintain the Account and to effect securities transactions for the Account.

Adviser will make investment decisions for the Account according to the investment objectives and financial circumstances described in the Client's

Questionnaire, attached as Exhibit A. The Client agrees promptly to inform Adviser if the information provided in the Questionnaire becomes materially

inaccurate. The Client also agrees to consult with Adviser at least annually to provide updated information, if any, about the Client's financial circumstances

and investment objectives.

Selecting a Broker. The Client hereby directs that transactions for the Account should be executed through (the "Directed Broker"):

Account Executive

___________________________________________________________

Firm

___________________________________________________________

Address

___________________________________________________________

City/State/Zip

___________________________________________________________

Phone

___________________________________________________________

In selecting the Directed Broker, the Client has the sole responsibility for negotiating commission rates and other transaction costs with the Directed Broker.

Although Client has selected a Directed Broker, Client agrees that Adviser will not be required to effect any transaction through the Directed Broker if Adviser

reasonably believes that to do so may result in a breach of its duties as a fiduciary. Client understands that by instructing Adviser to execute all transactions

on behalf of the Account through the Directed Broker, a disparity may exist between the commissions borne by the Account and the commissions borne by

Adviser's other clients that do not direct Adviser to use a particular broker-dealer. Client also understands that by instructing Adviser to execute all

transactions on behalf of the Account through the Directed Broker, Client may not necessarily obtain commission rates and execution as favorable as those that

would be obtained if Adviser was able to place transactions with other broker-dealers. Client also may forego benefits that Adviser may be able to obtain

for its other clients through, for example, negotiating volume discounts or block trades. Some of the directed brokers recommended by Advisor have in the

past referred business to Advisor.

If the Account is maintained on behalf of a plan subject to the Employee Retirement Income Security Act of 1974 ("ERISA") or similar government regulation,

Client represents that the Directed Broker is capable of providing best execution for the Account's brokerage transactions, and that the commission rates that

Client negotiated are reasonable in relation to the brokerage and other services received by the plan. Client will monitor the services provided by the

Directed Broker to assure that the plan continues to receive best execution and pay reasonable commissions. Client represents that the use of the Directed

Broker is for the exclusive benefit of the plan.

Custody. The Client has appointed or will appoint a separate custodian (the "Custodian") to take possession of the cash, securities, and other assets

in the Account. Adviser will have no access to the assets in the Account or to the income produced there from and will not be responsible for any acts or

omissions of the Custodian. The Client has directed or will direct the Custodian to send a statement at least quarterly indicating all amounts disbursed from

the Account (including the amount of any fees paid to Adviser), all transactions occurring in the Account during the period covered by the statement, and a

summary of the Account positions and portfolio value at the end of the period. The Client has directed or will direct the Custodian to send copies of the

Account statements to Adviser, along with an indication that the statements have been sent to the Client.

Reporting. Client will be provided with a quarterly Account statement which includes a summary of transactions and an inventory of holdings. The

Client also will receive a confirmation of each transaction executed for the Account from the Broker.

Fees. The Account will be charged a quarterly investment advisory fee payable in advance. The actual fee charged to the Account is set forth in

Exhibit B to this agreement, the quarterly remittance, and/or the brokerage contract..

Payment. The Fee will be payable quarterly in advance upon deposit of any funds or securities in the account. The first payment is due upon

acceptance of this agreement and will be based upon the opening value of the Account. The first payment will be prorated to cover the period from the date

the Account is opened through the end of the next full calendar quarter. Thereafter, the fee will be based on the Account value on the last business day of

the preceding calendar quarter and will be due the following business day.

Additions and Withdrawals. The Client may make additions to the Account at any time, subject to Adviser's right to terminate an Account that falls

below the minimum Account size. Additional assets received into the Account after it is opened may be charged a pro rata fee based upon the number of

days remaining in the quarter. The Client may withdraw Account assets upon notice to the Adviser, subject to the usual and customary securities settlement

procedures. No fee adjustments will be made for partial withdrawals or for Account appreciation or depreciation within a billing period. A pro rata refund

of fees charged will be made if the Account is closed within a billing period. Adviser will impose no start-up, closing, or penalty fees in connection with the

Account.

Payment Method. The Client may indicate by initialing one of the options below how to arrange payment of Adviser's fee. If left blank, Adviser

will assume the first option is selected.

____ Adviser is authorized to invoice the Custodian directly for its fees, although it will simultaneously send a copy of its bill to the Client. The Client will be

responsible for verifying the accuracy of the fee calculation -- the Custodian will not determine whether the fee is calculated properly. The Client agrees to

instruct Custodian to pay such fees directly to Adviser.

____ Adviser is authorized to invoice the Client directly for the payment of its fees. Any such payment will be made to Adviser by separate check, and

under no circumstance will any fee be deducted from amounts held in the Account.

Changes to Fee. The Client understands and agrees that the fee set forth in Exhibit B shall continue until 30 days after Adviser has notified the

Client in writing of any change in the amount of the fee applicable to the Account. At such time, the new fee will become effective unless the Client notifies

Adviser in writing that the Account is to be closed.

Other Fees and Charges. The Client will be solely responsible for all commissions and other transaction charges and any charge relating to the

custody of securities in the Account.

Non-exclusive Relationship. The Client acknowledges and agrees that Adviser may act as an investment adviser to other clients and receive fees

for such services. The advice given and the actions taken with respect to such clients and Adviser's own account may differ from advice given or the timing

Investment Agreement Template

Related Articles

Related forms

Related Categories