A concise, detailed report is sent to each client at the end of every quarter. This report shows the current value of the client’s account, current security positions, percentage and dollar change from the original cost of these positions, gains and losses taken during the quarter, and the performance record for the account while under the management of Prentiss Smith & Company. We want our clients to know exactly where they stand.
Our quarterly reports also include a copy of the Strategy Update. This Update covers our thoughts on the economy and the financial markets. In past Strategy Updates we have outlined our thinking on interest rates, debt levels, inflation, investment manias, international economic trends, corporate governance, and energy policy. The Strategy Update also covers our future investment strategies which are based in part on our macroeconomic outlook.
Security positions owned by our clients are reviewed on a continual basis. In addition, the asset allocation and performance of each account is reviewed regularly. Clients receive monthly statements from the brokerage firm or bank where their securities are held. We review for accuracy all trade confirmations and monthly statements received from our clients’ custodians.
Our investment management fees are based on the size and type of assets under management. Fees are billed in advance, at the end of each quarter, at one fourth the annual rate.
The standard charge for our services is an annual percentage fee, specified below, based on the value of the portfolio at the close of each quarter (securities which have not established market value will be at cost unless otherwise agreed).
Fees are negotiable; no ranges have been established. The specific fee for any account is outlined in its separate fee agreement.
We at Prentiss Smith & Company, Inc. are committed to maintaining the confidentiality and security of personal information gathered from potential, current and former customers. The proper handling of personal information is one of our highest priorities. As a valued customer who provides us with nonpublic personal information, we want you to know why we need this information and we want to explain our commitment to protecting the data you provide.
We collect and maintain only information necessary for us to be able to provide the services requested by you. We collect this data mainly from the application forms you complete when entering into a relationship with us, and from on going transactions within the accounts that we manage. The nonpublic personal information consists mainly of the following:
Name, Address, Social Security Number, Assets, Birth Date, Employment Information, Financial Goals, Income Requirements
We will only disclose the nonpublic personal information we obtain to your asset custodian and to securities regulatory agencies. At your discretion, we can also release this information to your accountant and/or attorney. We store this information with three highly secure information technology systems: Orion Advisor Technology, Salesforce, and G Suite. These systems can only be accessed by our employees and our software consultant.
We do not share nonpublic personal information about former customers to anyone, unless directed by you, the customer.
We do not engage in third party marketing arrangements.
All employees who work with confidential information are educated on the importance of maintaining the confidentiality and security of the information and are required to abide by our information handling policies. We have a signed confidentiality agreement with our software consultant.
We will, upon a customer’s written request, release nonpublic personal information to nonaffiliated third parties.
We recognize and respect the privacy concerns of potential, current and former customers, and are committed to safeguarding nonpublic personal information. We maintain security standards to protect your information, and maintain our systems to ensure the integrity of the information.
Regulations:
Prentiss Smith & Company, Inc. is registered with the US Securities and Exchange Commission (SEC) as an investment adviser under the Investment Advisers Act of 1940. Registration does not imply any level of skill or training.
Commensurate with our belief in transparency, we make our SEC Form ADV Part 2A (our plain-English registration form with the US Securities and Exchange Commission) and our CRS (Client Relationship Summary, another SEC form that provides additional detail about our firm) publicly available here on our web site.
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The material contained in this website is provided for informational purposes only and should not be considered an individualized recommendation of any particular security, strategy or investment product. This web site is not intended to be used as a general guide to investing, or as a substitute for personalized investment advice, and it makes no implied or express recommendations concerning the manner in which any specific client account should be handled. If you have questions regarding the applicability of any issue discussed on this website to your own situation, you are encouraged to consult with a professional advisor of your choosing. Prentiss Smith & Co is neither a law firm nor a certified public accounting firm, and no portion of this website content should be construed as legal or tax advice.
No guarantee is made as to the accuracy, completeness or timeliness of any information, projections or opinions contained in this web site or upon which any such projections or opinions have been based. The information contained in this web site is compiled for the convenience of site visitors and is accepted by the site visitor on the condition that errors or omissions shall not be made the basis for any claim, demand or cause of action. Due to factors that may include changing market conditions or applicable laws, some content on this web site may no longer be reflective of our current positions or opinions. Some information on this site has also been obtained from published sources and/or prepared by unaffiliated third parties. While such sources are believed to be reliable, neither Prentiss Smith & Co nor its respective employees or representatives assumes any responsibility for the accuracy or completeness of such information. Hyperlinks to other web sites are not an endorsement, approval or certification of information, projections or opinions located at such web sites.
Investing in securities involves risk, including the loss of all principal invested. Other types of investments involve varying degrees of risk. There can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Prentiss Smith & Co), will be profitable or suitable for your portfolio or individual situation.
