At the outset we consult with the client to establish a written investment policy appropriate to the client’s financial goals. Based on these goals, clients deposit their funds in one or more accounts in the client’s name at Charles Schwab & Co., Inc. We never take custody of our clients’ funds. Only the client can withdraw funds from the account. Cheviot’s sole power is to direct the investments pursuant to a limited power of attorney giving us discretionary authority to invest on behalf of the client. We invest in investment-quality marketable securities that are suitable to the client’s investment policy, including stocks, bonds, and money market instruments.
Cheviot provides extensive reports as to the progress and status of each client’s account including regular performance reports and annual gain and loss reports for tax purposes. Clients also receive immediate confirmation from Schwab of each transaction, plus monthly account statements.
Included within our investment management services is ongoing consultation regarding retirement planning, estate planning, education funding and numerous other areas of financial importance.
We do not sell any investment products, nor are we affiliated with any other financial services companies that do sell investment products. Our fee is ¼ of 1% of the account net asset value as of the last day of each calendar quarter. We charge no other fees of any kind.
There are no lock-up periods. A client is free to terminate our services at any time without advance notice.
Cheviot prides itself on meeting the goals established with our clients and on providing excellent service. We are large enough to have the resources and provide the services of far larger firms but small enough so that our clients can always interact with the principals of our firm.
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