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Why We Form Partnerships? and how we work with our partners . . .
WALT ST forms strategic partnerships with "SPONSOR FIRM(s)" to provide back-office and middle-office functions.
WALT ST and "SPONSOR FIRM(s)" form a working relationship to allow WALT ST to focus on what it does best, "manage private portfolios."
Given the relationship with the "SPONSOR FIRM", WALT ST functions in the following way:
The "SPONSOR FIRM" will first secure a Agreement with the Investment Adviser that codifies the relationship and responsibilities of all participants and parties. A typical relationship will be between a Client, an Investment Consultant (Financial Consultant) who may also be a Registered Representative of a Broker/Dealer, the Investment Advisor with whom the Investment Consultant (Financial Consultant) is affiliated, sponsor firm and WALT ST.
Each Investment Adviser with whom the "SPONSOR FIRM" has a Agreement will allow properly licensed Investment Consultants (Financial Consultants) of that Investment Adviser to offer WALT ST's Programs to their respective clients.
The Investment Consultant (Financial Consultant) will determine that an account separately managed by WALT ST is appropriate for each Client and that WALT ST's investment style and strategy is suitable for that Client. To ascertain the financial situation and investment objectives of the Client, the Investment Consultant (Financial Consultant) has obtained a completed suitability questionnaire from each Client.
The Investment Consultant (Financial Consultant) shall furnish the "SPONSOR FIRM" with a copy of the completed suitability questionnaire for each Client. The information collected by the Investment Consultant (Financial Consultant) will be submitted to WALT ST as well as any preferences or constraints that the client may want to impose.
At least annually, the Investment Consultant (Financial Consultant) shall contact each Client to determine whether there have been any changes in the Client's financial situation or investment objectives, and whether or not the Client wishes to pose any restrictions on the management of the Account or modify any existing restrictions.
Any new information of this kind must be provided to the "SPONSOR FIRM" and WALT ST within three (3) business days of receipt. At least quarterly, the Investment Consultant (Financial Consultant) shall notify each Client in writing to contact the Investment Consultant (Financial Consultant) if there have been any changes in the Client's financial situation investment objectives, or if the Client wishes to pose any reasonable restrictions on the management of the Client's account or modify any existing restrictions, and provide the Client with a means through which such contact may be made.
The Investment Consultant (Financial Consultant) will maintain primary contact with the client. Therefore, the Investment Consultant (Financial Consultant) agrees to immediately notify THE "SPONSOR FIRM" and WALT ST of any changes in any Client's financial situation or investment objectives, or any additional restrictions on the management of the Account or any modification to any existing restrictions.
The Investment Consultant (Financial Consultant) agrees to be reasonably available to each Client for consultation about the Account and shall advise the Client on how to contact THE "SPONSOR FIRM" and WALT ST's personnel who are knowledgeable about the Account for consultation purposes.
Each Client shall retain, with respect to all securities and funds in the Account, to the extent as if the Client held the securities and funds outside the investment advisory program, the right to: (a) withdraw securities or cash upon reasonable notice; (b) vote securities, or delegate the authority to vote securities to another person; (c) be provided in a timely manner with a written confirmation or other notification of each securities transaction, and all other documents required by law to be provided to security holders; and (d) proceed directly as a security holder against the issuer of any security in the Client's Account and not be obligated to join any person involved in the operation of the investment advisory program, or any other Client of the program, as a condition precedent to initiating such proceeding.
Due to the nature of money management services being offered through Investment Consultants (Financial Consultants), THE "SPONSOR FIRM" will make sure the following conditions are met and maintained:
1) WALT ST will manage each Client's Account on the basis of the Client's financial situation and investment objectives provided to THE "SPONSOR FIRM" and WALT ST by the Investment Consultant (Financial Consultant), and in accordance with any reasonable restrictions posed by the Client on the management of the Account.
2) THE "SPONSOR FIRM" and WALT ST will make its personnel who are knowledgeable about the Account reasonably available to each Client and the Investment Consultant (Financial Consultant) for consultation.
3) THE "SPONSOR FIRM" and WALT ST will permit each Client to have the ability to pose reasonable restrictions on the management of the Client's Account, including the designation of particular securities or types of securities that should not be purchased for the Account, or that should be sold if held in the Account.
Additional responsibilities of THE "SPONSOR FIRM" when working with Investment Consultants (Financial Consultant):
1) Back-office operations, including the processing of documentation, trading, marketing of the money management services and at times direct selling of money management services.
2) Preparing quarterly reports that summarize the accounts activities
3) Having received the permission from the client in writing, the automatic deduction of all advisory fees from the client's custodial account at the end of each calendar quarter.
Based on the individual circumstance of the client WALT ST may help determine which portfolio strategy is appropriate for the client. Factors considered in making this determination include suitability information, constraints, preferences, account size, attitudes and opinions of a client and Investment Consultant (Financial Consultant).
In isolated cases the prospective client may form a relationship directly with WALT without the involvement of a "SPONSOR FIRM(s)".
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