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FAQ

What are your fees?

An annual advisory/service fee is charged at the beginning of each quarter and is based on the value of the managed account. The fee schedule is as follows:

1. 1% annually (.25% quarterly) of the first $1,000,000
2. .80% annually (.20% quarterly) of the 2nd $1,000,000
3. .60% annually (.15% quarterly) of the 3rd $1,000,000
4. .50% annually (.125% quarterly) of the 4th $1,000,000
5. Amount from $5,000,000 and above are negotiable.
   

The fee is charged only against investment assets which we manage. So assets such as real estate holdings or limited partnerships or LLC's and the like, would not be charged. There is no attempt to sell and no commission will be charged if implementation is through KW Securities Corporation.

Minimum size?

The minimum size account for our investment management services is $500,000

How often do we meet?

We would like to meet with our clients quarterly. But if that is not convenient, then at least semi-annually. If it is more convenient for you, we will meet with our clients at their place of business or residence.

What information do I have to provide?

The more information we have about you, the better the service we can provide to help meet your financial objectives. We would like copies (or originals and we will make copies) of your financial statements/balance sheet (list of assets/liabilities), trust statements/documents (if you are a current beneficiary), latest federal and state tax return, information on all cash accounts, stocks, bonds, mutual funds (number of shares, cost basis, date acquired), option agreements and annuities.

We would like information on all real estate, notes receivable and payable, and retirement accounts, as well as all insurance, estate wills and trusts, pre-nuptial and divorce agreements.

We would like copies of all employee benefit statements and of your children's accounts.

While this seems massive and will often inhibit a person from proceeding, all information does not have to be immediately produced in order to proceed. Much of it could be spread out over a considerable period of time.

Do I have to fill out a questionnaire?

There is no questionnaire that you have to fill out.

How much time will this require?

Our "get acquainted" meeting usually takes 1 1/2 to 2 hours. There is no charge for this meeting. If you choose to become a client, there will be at least two more meetings requiring no more than four hours in total.

Since you are an independent, relatively small firm, can you serve me/us as a large firm is able to?

Because of our 65 years of combined experience and because our firm is now 29 years old, we have relationships with resource people covering just about every area. Furthermore, we have access to information provided by RBC Capitol Markets Corporation, a premier national brokerage firm. "click here for more information on RBC"

Can you implement investments?

Yes, if you wish us to do so. We have another company, KW Securities Corporation, a fully disclosed broker-dealer. It is through that company by which we can utilize RBC Capital Markets Corporation this means we can use them as a conduit, whereby stocks, bonds, mutual funds, cash investments, and more can be accessed. You are free to select any broker of securities for implementation of those specific areas of the financial plan. Should you choose to execute any transactions through KW Securities Corporation and RBC Capitol Markets Corporation the additional annual fee is.

1. .20% if the cumulative account total is between $500,000 and $1,000,000
2. .15% if the cumulative total does not exceed $2,000,000
3. .13% if the cumulative total does not exceed $3,000,000
4. .12% if the cumulative total does not exceed $5,000,000
5. .10% if the cumulative total does not exceed $10,000,000
6. It is negotiable if the cumulative total exceeds $10,000,000

At no time will there be a separate commission charge for any stock, bond, or mutual fund transaction.

Lastly, Mr. Krause and Ms. Lake are licensed agents with the State of California Department of Insurance, and Mr. Krause is also licensed in the State of Illinois, for various forms of insurance.

Is the information I provide confidential?

Tessara Financial Advisors, Inc, agrees to keep confidential all information received from you and your advisors pertaining to you financial affairs except as otherwise required by law. As part of our service we may consult with your attorney, CPA, retirement plan administrator, or other professional regarding your affairs. You will need to agree to the disclosure of any information which we deem necessary to meet your objectives. You do need to understand that Tessara Financial Advisors, Inc, can legally be compelled to divulge information.

Do you render any legal and/or tax advice?