“Planning is bringing the future into the present so that you can do something about it today.”
A financially literate person has the ability to use credit responsibly, the confidence to manage their money and financial risks, understand the long term benefits of savings and has a positive attitude towards financial planning, and how to best use professional financial advice. The ability to function in a literate society in general also extends to financial competence in particular for the enhancement of basic money management and individual prosperity.
Planning for retirement is a complex undertaking, requiring the consumer to gather and process data on compound interest, risk diversification, inflation, and make assumptions about future market performance. We can teach you how to hold your advisor accountable for their short and long term recommendations and results. ICS cannot make all your decisions, but we can put your situation into perspective and help you evaluate your results & your options.
The Fiduciary Standard
- Fiduciary – A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets for the benefits of the person rather than for his or her own profit.
- As a Registered Investment Advisor firm, ICS accepts the fiduciary liability that accompanies each investment recommendation.
- We will always act for the sole benefit and interest of our clients.
- Personal Financial Literacy – The ability to read, analyze, manage, and write about the personal financial conditions that affect material well-being. It includes the ability to discern financial choices, discuss money and financial issues without discomfort, plan for the future, and respond competently to life events that affect everyday financial decisions, including events int he general economy.
- Active Management – Also called Tactical Management, refers to a portfolio management strategy where the manager makes specific investments with the goal of outperforming an investment benchmark index. The objective with active management is to produce better returns than those of passively managed index funds.
- RIA – A Registered Investment Advisor is an investment adviser registered with the Securities and Exchange Commission or a state’s securities agency. They receive compensation for giving advice on investing in securities such as stocks, bonds, mutual funds, exchange traded funds, or managing portfolios.
Frequently Asked Questions
- How does being a fiduciary affect me and how does it affect your recommendations?
- Fiduciary is a legal + ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. In such a relation good conscience requires the fiduciary to act, at all time, for the sole benefit and interest of the one who trusts. ICS is not tied to anyone to sell anything and that is critical when acting as a fiduciary and in the best interest of the client.
- How does ICS get paid and is there any long-term commitment or penalties for cancelling services?
- ICS is paid fee-only, which is based on the amount of assets it manages for the client. The fee is deducted quarterly from the client’s account. The client may cancel the management services at any time and any unearned fees will be returned to the client. There is never a penalty incurred nor any long-term commitment by the client. Basically, our clients pay our investment management fee, only as long as they are pleased with their results. In other words, this is a “pay as you go” system with no penalties for cancelling services.
- Does ICS manage investments on a daily basis or is this a “buy and hold” method?
- ICS is known as a “tactical” investment manager and does not believe in the “buy and hold” method. This system utilizes investments that are working presently, based on the current economic conditions versus what has worked in the past. The system is very fluid and is constantly changing relative to the global market situation.
- What happened to you and your company in 2008, your portfolios, and how did you handle it?
- In 2008, the system that ICS is currently using to direct investors’ brokerage accounts, transferred investment holdings from equities to bonds throughout the year; therefore, incurring no investment losses. There are times when ICS recommends investments in cash versus either equities or bonds.
- How can ICS maximize my OU retirement?
- By limiting or controlling downside risks through actively managing investments, ICS controls volatility which can negatively impact retirement assets. Reducing peaks and valleys with retirement assets creates more reliable investment results.
219 W. Boyd Street Suite 205 Norman, Oklahoma 73069 – Phone 405.447.6676 Fax 405.447.4654 – firstname.lastname@example.org – 8-5 Mon – Thu and 8-12 on Friday