What are the mechanics of getting started with Durig Fixed Income ?
To assist our new clients that have interests in our services we have this simple three step guideline available.
It is of utmost importance that clients recognize that Durig Fixed Income does not receive or hold any client assets or monies, and that Durig Fixed Income acts strictly as a fiduciary utilizing third party custodians to broker, clear, and hold all client trades and investments. Therefore, the first step is to consider is the selection of which holding firm (custodian) you would prefer.
Step 1 – The Investment Holding Firm Agreement
We will ask our clients work with TD Ameritrade Institutional
When selecting your preferred custodian, please be sure to also specify the follow:
- New account types can include individual, joint, UGMA/UTMA, trusts, estates, partnerships, business, an/or a variety of retirement and other non-prototype accounts.
- Indicate any need to transfer assets from an existing brokerage account elsewhere.
- Authorize Durig Fixed Income as Advisers on the account, or will
- Add Durig Fixed Income advisory services to a previously existing account.
Durig Fixed Income will email, mail or fax you the proper forms for your preferred custodian. The account should be established in your name, or a name already identified in an existing account. As clients often tell us that the most difficult part is understanding and completing the custodians documentation questions, we can assist you with clarifications, but the documents themselves are outside of our area of control. If you have any issue or question regarding any aspect the process, we invite you to give us a call. We deal with this paperwork frequently and can often save you time and effort, and possibly avert any unnecessary confusion or frustration.
Once this necessary hurdle is completed, the rest is quite easy. After the paper work is returned to us, it typically only takes one day to establish the new records. All of our clients, unless it is not desired, will have direct online access to all equity and asset holdings, as well as to any and all records and reporting (such as trades, values, confirmations, statements, and taxes) directly with your selected Custodian. This third party validation provides an extremely high level of transparency, flexibility and accountability for you.
Step 2 – The Durig Advisory Agreement
You have your choice between:
A) Non-discretionary Agreement- In this structure we need your verbal or written agreement approval prior to ANY TRADE. This allows you to still be in control of which investments to participate in, and at what level. Clients frequently select bonds directly from our weekly newsletter.
B) Discretionary Agreement- We select the investments and manage the funds for you. Due to market conditions and communications, we believe client accounts typically perform better utilizing this option.
We will email, fax, or postal mail you the proper document for your preferred arrangement. The Durig Advisory agreement must be signed on the last page and a copy returned to us.
At this point your ready to participate in our syndication offerings.
Step 3 – The Funding
Once your account is established, we will provide you with the necessary account information to access your account online and ask that you write all checks to and/or provide all wire transfers directly to the custodian that you have selected. As a reminder, please always write both the custodian’s name and your account number on every check or wire transfer.
Discretionary accounts require funding prior to investment participation. Non-discretionary accounts require that all funds be deposited within three business days after any new purchase (Normal Settlement).
You’re now ready to Shop the Globe with us for higher institution yields!
Now that you are ready, at Durig Fixed Income we are “always putting your interest first !”