Balanced rock
http://finance.zacks.com/report-roth-ira-conversion-1827.html
meetings
1/30/18
- did the roth ira transfer happen
- general questions on what are the allocations in balanced 5
- peri's optimal withholding amount
- strategy for investing $173,000 cash and equivalants
- dial in
50,000 into dial in investments (be conservative with Wellspring Harvest) and the peri 403b will start to get invested. Peri will get the list of stocks to BR and will do as they say to move them around.
investment opps
wellspring harvest
- site work and c onstruction of the greenhouse began at the end of March 2017 . Greenhouse construction is expected to be completed by September 2017, with production planned to start in November
emails
emails, May, June July 2016
Hi Dan,
Thanks for getting back to us.
I am not asking for a meeting only for some kind of contact and response. Is there a better way than email? Should I always change the subject line?
My notes from our earlier meetings had me thinking
- That the ~$200k that is in cash and crappy CD's was something that we all agreed was stupid and that it was going to change once you took over (those funds are not part of other funds that comprise a reasonable cash cushion) When does that happen?
I guess we should also keep in mind
- That in lower earning years ie each year before we start on SSI, we would be transferring assets from IRA's to ROTH's and paying taxes on a lower rate. I guess that makes sense to do before Dec 31 when we know how much income is likely from the building. Is that correct? How much lead time do you need?
Is there a way that we see what changes are made besides each individually logging in to our Schwab?
- There was some discussion of Peri and I each being able to see all of the accounts from our individual logins. Then we would each have the big picture. Something about some forms that had to get done. Is this something that we handle with Schwab or is it something you can do?
Do we or could we have access to the spreadsheet that you our using or some other itemized spreadsheet that list all our assets under management?
On the ADV
- 'the Client may request to be invoiced for fees directly by BRIA'.Could we do that until we each have clearer access to what is going on?
- Which assets are going to be charged at .75%, which at .3%?
- could you 'report itemizing the fee, including the calculation period covered by the fee, the account value and the methodology used to calculate the fee'?
All the Best,
Tim McKenna and Peri Levin McKenna
(857)498-2574 (617)817-8501
On Wed, Jul 6, 2016 at 8:38 AM, Daniel Flannery <dan@balancedrockia.com> wrote: Hi Tim,
My apologies for the delay responding. These message get threaded in one conversation with the 150 'Balanced Rock Disclosure Brochure - Annual Update' emails that went out, which is not ideal. I really try to stay on top of email, but things happen, and please call or text or stop by if you are not feeling you are getting the necessary attention at any time for any reason. We should plan to meet for a portfolio review later this month.
We certainly don't judge our performance by how much trading we do, and in fact try to minimize it. I trimmed your international developed market exposure around a 6 month high for that class in early June, at which point I also moved into some more short term bonds. I took the opportunity of the recent market freak out to pick up both individual companies and some index exposure, including to emerging markets and real estate, to continue bringing you in line with your long term target.
It is also a goal to add some community investments to your portfolio, so we are considering how and where to include those. Doing so most effectively may require some additional rebalancing, and I don't want to sell an index today just to buy another one that we might end up selling within weeks. Most clients appreciate our careful approach to transacting, and "measure twice, cut once" philosophy.
We also developed a comprehensive financial plan for you prior to even beginning to manage your portfolio, and have helped you start to take advantage of tax minimization strategies such as making your Roth contributions. We've also tried to connect you with an excellent estate planning attorney who we can work with to help you preserve your rental real estate for the family, among other things. Our asset based fee covers all of these things, but we only start charging once you have signed your Investment Policy Statement. We take responsibility for the actual portfolio at that point, and yes, start billing. We charged you $26 last quarter, and my guess is that for all our work, we will collect about $600 for this past quarter.
Hope you and Peri had a wonderful 4th!
Best, Dan
Daniel M. Flannery, CFA | Dan@BalancedRockIA.com Balanced Rock Investment Advisors | www.BalancedRockIA.com Direct: 617-500-0787 | Main: 617-971-8323 | F: (617) 934-2540 4238 Washington St. - Suite 313 | Roslindale, MA 02131 | SECURE FILE UPLOAD
Schedule a Time
On Thu, Jun 23, 2016 at 12:56 PM, Tim McKenna <mckenna.tim@gmail.com> wrote: Hi Daniel,
I guess it is OK that we haven't had a response to our May 2 email, It is not like we would have done anything with our money anyway. I do however want to ascertain that we are not on the clock, or being billed by Balanced Rock until you actually start actively managing our money.
All the best, Tim McKenna (857)498-2574
On Mon, May 2, 2016 at 1:29 PM, Tim McKenna <mckenna.tim@gmail.com> wrote: Hi, I was just wondering when something would happen in terms of actions you would be taking to manage our money by like investing it or something? Tim McKenna
On Mon, May 2, 2016 at 1:25 PM, Daniel Flannery <dan@balancedrockia.com> wrote:
Dear Client,
Please find your 3/30/2016 Annual Firm Disclosure Brochure (ADV Part 2A & 2B) for Balanced Rock Investment Advisors here: https://balancedrockia.citrixdata.com/d-s2e908b39c5e4ec49
You will be notified if this Disclosure Brochure is updated in the event of material changes during the year.
Please let me know if you have any questions.
Thank you, Dan
notes- 2016-02-25
advice on software
At the point when we are at takeoff I want to take a snapshot of where everything prior to your management. Then I want to put all that info in some Yahoo stock, or Bing bling program that in a year from now will tell me the balance had you not taken over. Then I can compare in a year where we stand(after your costs) to the managed by NOBODY approach. I could decide on one online tool by myself for that but would appreciate your input.
on money you can manage
investment and ira accts
My opinion would be you can manage investment accounts and IRA 403x type accounts. (I prefer not to pay .75% on CD's that don't mature til 2020 until they mature (the cambridge savings investment accounts) unless you make a good argument about taking the penalty and pulling them out).
bank accounts
That money is weirdly distributed among rental deposit accounts, personal accounts, and the rental property account. I need a capital account that builds up for major projects on the rental property (new roofs, photvoltaics, roof greenhouse, new boilers) since I DON'T BORROW MONEY to do them. There too is the 'OMG I just lost my job and got cancer' cushion and some cash that that could be used to start a new business. So I am not sure that I want any of the deposit accounts managed by you guys. Maybe we could periodically decide to shift some to you.
risk survey
I didn't like the risk survey. Here is my position. I am willing to take substantial risks when I am betting on myself. I would sign million dollar construction contracts for example. I would be very unlikely to mortgage anything, I guess that is a low risk strategy. As far as stocks and bonds and cd's: My strategy was index funds and I let my mother move stuff in my Fidelity IRA wherever she wanted. I guess I don't really believe in that money so I would be more willing to risk it and any gain would be a bonus.
Therefore some questions didn't make much sense to me and my answer wasn't in the choices given
- more concerned about the possible losses or the possible gains
- willingness to take financial risks
- how do you feel about major financial decisions after you make them
- What degree of risk are you currently prepared to take with your financial decisions?
My answer to all questions like these would be - IT DEPENDS
