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The management options are offered
on a fee or non-fee basis, as follows:
A) Traditional/Non Fee
Based
- Transaction generated payment method
- only when client buys or sells
- Entire market is shopped and allows
purchases of Bernardi Securities, Inc. underwritings/holdings
- Client will be contacted for every
transaction and has right of refusal
B) Traditional/Fee Based
- Payment based upon percentage of value
of assets under management
- Entire market is shopped and allows
for the purchase of Bernardi Securities, Inc. underwritings
or inventory at Bernardi Securities, Inc. cost plus transaction
charge
- Client has right of refusal and will
be contacted for every transaction
C) Discretionary/Non Fee Based
- Transaction generated payment - only
when client buys or sells a security
- Client authorizes Bernardi Securities,
Inc. to act on their behalf in making investment decisions
- Entire market is shopped and allows
purchases of Bernardi Securities, Inc. underwritings/holdings
D) Discretionary/Fee Based - managed by Bernardi
Asset Management, LLC. (BAM)
- Payment based upon percentage of value
of assets under management
- Portfolio managed under separate entity:
Bernardi Asset Management, LLC (BAM)
- Client authorizes BAM to act on their
behalf in making investment decisions
- Entire market is “shopped”
for value
- Bernardi Securities, Inc. positioned
bonds cannot be placed into client portfolio unless client gives
written approval for the purchase. Written approval must be
received before the investment is made.
- Bonds are placed into client portfolio
at cost plus minimal transaction charge
For all of the described options, Portfolio
Management Accounts are provided the following:
- Adherence to the guidelines set forth
in the Investor Profile Letter of Instructions
- Ability to hold bonds firm pending client
review and decision
- Detailed Pershing account statements
on a monthly basis*
- Bernardi Portfolio Management Reports
with summaries, holdings, payment schedules, realized gains &
losses and premium amortization reports
- Quarterly review by managers (more
frequently during a buying or selling program)
- Annual review with client regarding guidelines
and portfolio performance
*Quarterly
if no trading activity occurs during a 90-day period
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