MWM is a fee based asset manager. We are required to custody your money with a third party. It is in your best interest and for your protection. Currently we use UBS Financial Services, Charles Schwab and Fidelity Investments, but are able to use a custodian of your choice.
We have negotiated favorable commission rates for our client transactions and since our investment philosophy is a long term buy and hold approach brokerage commissions are not a meaningful expense.
We do not share in brokerage transactions nor do we require research or other services in exchange for our transaction flows. We are interested in prompt execution. We are long-term investors and among other things, we pay particular attention to business cycles.
We believe successful investing, over time, involves active asset allocation. We believe price is a very important consideration in the stock selection process.