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Patrick Mauro Investment Advisor, Inc. exercises trading discretion over client accounts. We do not have custody of client assets. Such custody is held by a registered brokerage of your choosing. Only the client can authorize the transfer of funds in and out of their brokerage account.
We operate on a fee-based system. We bill our clients on a percentage of the value of net assets under management. Each account has a negotiated rate based on the type of effort required to meet the account’s goal. The firm never charges more than 1% of assets under management on an annual basis. Each account is billed quarterly either directly or as an automatic debit to the account authorized in writing by the client. Our standard investment management agreement is displayed below:
Investment Management Agreement
_________________________________________________________(hereafter referred to as “the client”) appoints Patrick Mauro Investment Advisor, Inc. (PMIA) as investment manager for certain assets of_______________________________________ listed in Exhibit A (month end statement for__________________or any other statement or list provided to PMIA,) on the following terms and conditions:
1. PMIA is authorized to manage the assets in the account without prior consultation or approval of the client, subject to limitations, restrictions, and objectives as set forth in this agreement.
2. The client shall maintain this account at______________________________________ initially upon signing this agreement. At any time subsequent to the signing of this agreement, the client may move all or part of the assets to any other custodian.
3. PMIA will provide the client a rate of return analysis at a minimum of once annually (but usually quarterly,) based on assets held in the managed account.
4. The client will pay fees at the end of each calendar quarter based upon the market valuation of managed assets at the time, adjusted for deposits and withdrawals. See item #9 below for exact rates of fees agreed to between PMIA and the client.
5. This agreement becomes effective on_______________________________________, and shall continue in effect until either party to the other, delivers written notice of termination. Regardless of the cause of termination of this agreement, the fees for the period in which the termination occurs will be prorated.
6. PMIA is prohibited from transferring or assigning the obligations of this agreement to any other Investment Manager.
7. If PMIA is asked to assist in selecting a broker-dealer, it will do so on the basis of competitive execution fees, among other considerations.
8. PMIA is registered with the Securities and Exchange Commission, Washington D.C. Official place of business is office at home of Patrick Mauro (President of PMIA): 38 Mockingbird Lane, Oak Brook, IL 60523. Tel: (630) 789-3374. Fax: (630) 789-1750. PMIA will provide all clients with Form ADV Part II
9. This paragraph is for any necessary further conditions agreed upon:
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