The Low-Stress Investing Experience

What it Means to be a Client of the Millard & Company Investment Advisor Firm

Do you need a financial advisor?

At Millard & Company, we help clients manage their life savings. Low-Stress Investing® is the name we use to describe our conservative approach to investing.

You may wonder: what can an advisor do for me? How would I benefit? How much would it cost? Does an advisor really have my best interest at heart? The purpose of this section of our website is to give you enough information to feel comfortable in calling our office for an initial consultation.

Is Low-Stress Investing^® right for you?

Maybe, but maybe not. In a very real sense, you entrust your financial advisor with your future, so it’s important to find the right fit—for both of you. Before establishing a relationship with us, you should ask some questions:

• Do you really feel you need help with your investments?
• Are you willing to share confidential details of your financial situation with your advisor?
• Are you able to trust another person with part of the responsibility for your financial well-being?
• Are you open to accepting frank advice?
• Are you willing to play an active role in the decision-making process, and are you willing to learn enough about our process to make educated decisions?
• Are you willing to pay a quarterly fee for professional assistance?
• Would you be able to set a financial course and stick with it for an extended period?

Other considerations

Even if you answered yes to all of these questions, there are still other considerations. If you are a very aggressive investor, we might not be a good fit for you. We do not utilize strategies such as frequent trading, short selling, buying options, or trading on margin.

In truth, many would say we have a rather conservative investment philosophy. However, all investing involves a certain amount of risk. We will do our best to mitigate that risk to an extent that is consistent with your unique needs, but we cannot eliminate risk altogether. If you absolutely cannot tolerate any short-term loss, perhaps an advisory relationship is not for you; instead, you may want to ask us about alternative strategies.

The Low-Stress Investing Process

The initial consultation and interview

The first step in the process is to call our office and schedule a complimentary consultation. You may be sent a list of items to bring with you to make your time with us more productive. You will then meet with Andy Millard for between 60 and 90 minutes.

The consultation is loosely structured as an interview: Andy will ask about your current situation, goals, and values, as well as your past experiences with investing. You will get to know him, and he will get to know you. There will be a full, frank discussion about fees, and you will be encouraged to ask about anything that’s on your mind. You will learn about our general investing approach and philosophy.

Although Andy may discuss general ideas and potential recommendations, he will not make a firm proposal or ask you to commit to anything. But by the end of the interview, you should have a clear idea of what we can do for you.

The decision to proceed

You may decide during the initial consultation that you would like to pursue a relationship with our firm. Or, you may want to sleep on it or discuss it with someone you trust. There will be no pressure on you to make a decision.

After a few days, Andy will talk with you by phone. If both you and he agree to proceed, he will obtain the necessary information from you to prepare the paperwork to get your account(s) set up. If you need a second consultation to clear up additional questions or concerns, we will arrange it. If you decide we’re not right for you, we will understand. Either way, you will not be charged for the initial consultation (or for a second consultation, should you require one).

The paperwork

Once you decide that you want to work with us, we will ask you a few additional questions, such as your date of birth, Social Security number, employer address, etc. This information will be used to fill out the necessary paperwork involved in setting up your account(s).

Millard & Company does not take direct custody of client assets. Instead, your account will be held at TD Ameritrade Institutional*, a large discount brokerage firm that works with fee-based advisors. Opening an account through TD Ameritrade is generally accomplished through a simple New Account Application, which we will fill out for you using information you provide us. In addition, you will be asked to sign a Millard & Company Client Agreement.

You will typically fund your account in one of three ways: (a) writing a check; (b) transferring an existing account from another custodian; or (c) rolling over assets from an employer-sponsored retirement plan.

Transferring your accounts (if necessary)

If you are transferring assets from another firm, we will have you sign an additional Account Transfer form, which we will send to TD Ameritrade along with your New Account form. You do not need to contact your former advisor or broker if you don't wish to do so; the entire transfer process will take place between the operations departments of TD Ameritrade and the old custodian.

Examples of assets which may be transferred into your new TD Ameritrade account include brokerage accounts, mutual funds, stocks held in certificate form or through a dividend reinvestment program, mutual funds, bonds, CDs and other bank accounts, and annuities. (Note that not every asset is appropriate for this type of transfer; we can help you understand any costs, taxes or penalties that might be involved in transferring your assets.)

Designing your portfolio

Once the account is set up and funded, we will design your portfolio. This is a highly individualized process depending upon your age, financial situation, goals, and risk tolerance. You will be involved every step of the way. Our investment philosophy and approach is described in detail in Andy Millard’s acclaimed book, Low-Stress Investing. All new clients are encouraged to read Low-Stress Investing in order to more fully understand the recommendations we will make to you.

Andy Millard has designed almost 20 model portfolios, ranging from very conservative to somewhat aggressive. Depending on your personal circumstances and comfort level, he may recommend that you utilize one of these models. Alternatively, he may design a portfolio model specifically for you. Currently, we have approximately 30 different portfolio allocations in use. Some allocations are used for a large number of clients; others are specific to a single client. There is no additional charge to design a new portfolio model.

Once you have been established in a particular portfolio, we will probably recommend that you stick with that portfolio until your circumstances change. However, should you want or need to change to another portfolio design, you may do so at any time.

Your monthly statements and quarterly reports

Each month, you will receive an account statement from TD Ameritrade. It will give a full accounting of your portfolio positions and transactions for the preceding month. In addition, every three months, Andy will personally prepare and send you a Quarterly Report. Your report will include a letter as well as several reports such as portfolio performance, current vs. target allocation, and an accounting of our fee for the upcoming quarter.

Keeping in contact

Every Monday, Andy will send you an email update covering recent economic news, Millard & Company happenings, market commentary, and much more. In addition, we will call you periodically to update you on your account, make suggestions, or just wish you a happy birthday. We will also schedule an occasional portfolio review session where you come in to discuss your account and other financial matters. Conversely, you may call us at any time with your own questions or concerns. You should always feel comfortable talking with us about anything that is on your mind, whether or not it is directly related to your portfolio.

Monitoring and adjusting your portfolio

Monitoring your portfolio involves both formal and informal steps. Besides the process of reviewing your portfolio in preparation for your quarterly report, we keep close tabs on all investments that we utilize for clients; if the situation warrants, we will contact you to recommend a change. In addition, we may set periodic times to take an informal look at your accounts and call you with an update.

The Client Agreement grants us discretionary authority to manage your portfolio on your behalf. Most portfolios are adjusted from time to time when allocation targets get out of balance.

The quarterly fee

You will not be charged any fee until your account has been established and funded. At that point, we will charge a prorated fee for the number of days remaining in the current quarter. After that, you will pay a small fee each quarter in accordance with your Client Agreement.

For your convenience, the quarterly fee comes directly out of your account. One page of your quarterly report will show the fee amount for the coming quarter, including how it was calculated.

We factor all fees into our performance calculations, so your quarterly report will give you a true picture of your account’s total return.

When special situations arise

Our client relationships go well beyond the management of investments. Clients consult us on an almost-limitless variety of issues: buying or selling a home, car, or horse, planning for a long vacation, refinancing a loan, financing long-term care, funding college for grandchildren, making a career change….the list goes on. We encourage you to think of Andy as a trusted advisor—make use of him for whatever important decisions you have to make.

The Next Step

To learn more about Millard & Company and what we can do for you, call or email Andy (andy@low-stress-investing.com) or our Client Service Manager, Juliet (juliet@low-stress-investing.com). They will be happy to schedule a no-cost, low-stress consultation to discuss your specific situation. All information will be kept strictly confidential.

*TD Ameritrade Institutional Services, a division of TD Ameritrade Investor Services, Inc., Member NYSE/SIPC (“TD Ameritrade”). TD Ameritrade Institutional Services is not affiliated with Millard & Company.