Did You Know?
The Federal Reserve System...
is the central banking system of the United States. It was created in 1913, with the enactment of the Federal Reserve Act. Its duties today are to conduct the nation’s monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions.
is the central banking system of the United States. It was created in 1913, with the enactment of the Federal Reserve Act. Its duties today are to conduct the nation’s monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions.
The Phrase "Not Worth a Continental"...
originated from the fact that by the end of the Revolutionary War Continental bills - or "Continentals" - were worth just 1/40th of their face value. Congress tried to reform the currency by removing the old bills from circulation and issuing new ones, but this met with little or no success. By May 1781, Continentals had become so worthless they ceased to circulate as money. Benjamin Franklin noted that the depreciation of the currency had, in effect, acted as a tax to pay for the war.
originated from the fact that by the end of the Revolutionary War Continental bills - or "Continentals" - were worth just 1/40th of their face value. Congress tried to reform the currency by removing the old bills from circulation and issuing new ones, but this met with little or no success. By May 1781, Continentals had become so worthless they ceased to circulate as money. Benjamin Franklin noted that the depreciation of the currency had, in effect, acted as a tax to pay for the war.
The NYSE dates back to 1792
The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock. The New York Stock Exchange (NYSE), sometimes known as the "Big Board" is the world's largest stock exchange by market capitalization of its listed companies at US$19.69 trillion as of June 2015.
The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock. The New York Stock Exchange (NYSE), sometimes known as the "Big Board" is the world's largest stock exchange by market capitalization of its listed companies at US$19.69 trillion as of June 2015.
Questions and Answers
Q: What are the main benefits to us by having CMA manage our investments?
Independent Analysis of Potential Investments-- Not Influenced by Wall Street Hidden Interests or Hype.
Individualized Portfolio Management of Stocks, Bonds, Options and/or Balanced Accounts.
Portfolios Matched to Risk Preferences of Investor.
Lower Commissions due to CMA`s Leverage with Broker Dealers.
Portfolios Managed to Minimize Taxes.
Q: Is CMA a brokerage firm?
No. CMA is a state registered investment advisor-- not a broker-dealer such as Merrill Lynch or Smith Barney. Brokerage firms are in the business of selling securities (stocks, bonds, mutual funds) for commissions and/or markups. CMA does not sell securities or investment products of any type. Nor is CMA compensated by commissions or sales charges in any form. CMA's objective is not to make a sale, but to solve investment problems in ways that most benefits its clients.Fee-based investment advice and management is the firm's only business.
Q: Does CMA charge commissions?
No. CMA's objective is not to make a sale, but to solve your investment problems, keeping transaction costs to a minimum. CMA receives no compensation from commissions or sales charges in any form. The firm is strictly a fee-only investment advisor. In fact, due to the company's trading volume the firm is usually able to obtain substantially lower commission rates from brokers which most of CMA's clients would be unable to negotiate on their own.
Q: Why is CMA a better option than a traditional broker relationship?
No Wall Street Hidden Interests or Sales-Based Business Models.
No Hype, Sales Pressure or Unwanted Phone Calls.
Independent Analysis of Potential Investments by an Experienced Firm.
CMA`s leverage with brokers permits substantial savings on commission costs.
Q: Does CMA impose a minimum account size?
Yes. Although CMA will consider each case individually, generally a minimum starting account value of $100,000 is required. The hourly advisory arrangement ($145/hour) may be more suitable for smaller accounts, except those for which anticipated future deposits will bring the balance above $100,000 within a reasonable time frame.
Q: Why is CMA a better option for us than mutual funds?
Individualized Portfolio Management Matched to Specific Investor Needs.
No Sales Loads (Front or Back).
Generally Lower Expenses.
Personalized Attention.
Direct Communication with Portfolio Manager.
Q: What are the main benefits to us by having CMA manage our investments?
Independent Analysis of Potential Investments-- Not Influenced by Wall Street Hidden Interests or Hype.
Individualized Portfolio Management of Stocks, Bonds, Options and/or Balanced Accounts.
Portfolios Matched to Risk Preferences of Investor.
Lower Commissions due to CMA`s Leverage with Broker Dealers.
Portfolios Managed to Minimize Taxes.
Q: Is CMA a brokerage firm?
No. CMA is a state registered investment advisor-- not a broker-dealer such as Merrill Lynch or Smith Barney. Brokerage firms are in the business of selling securities (stocks, bonds, mutual funds) for commissions and/or markups. CMA does not sell securities or investment products of any type. Nor is CMA compensated by commissions or sales charges in any form. CMA's objective is not to make a sale, but to solve investment problems in ways that most benefits its clients.Fee-based investment advice and management is the firm's only business.
Q: Does CMA charge commissions?
No. CMA's objective is not to make a sale, but to solve your investment problems, keeping transaction costs to a minimum. CMA receives no compensation from commissions or sales charges in any form. The firm is strictly a fee-only investment advisor. In fact, due to the company's trading volume the firm is usually able to obtain substantially lower commission rates from brokers which most of CMA's clients would be unable to negotiate on their own.
Q: Why is CMA a better option than a traditional broker relationship?
No Wall Street Hidden Interests or Sales-Based Business Models.
No Hype, Sales Pressure or Unwanted Phone Calls.
Independent Analysis of Potential Investments by an Experienced Firm.
CMA`s leverage with brokers permits substantial savings on commission costs.
Q: Does CMA impose a minimum account size?
Yes. Although CMA will consider each case individually, generally a minimum starting account value of $100,000 is required. The hourly advisory arrangement ($145/hour) may be more suitable for smaller accounts, except those for which anticipated future deposits will bring the balance above $100,000 within a reasonable time frame.
Q: Why is CMA a better option for us than mutual funds?
Individualized Portfolio Management Matched to Specific Investor Needs.
No Sales Loads (Front or Back).
Generally Lower Expenses.
Personalized Attention.
Direct Communication with Portfolio Manager.
FAQ
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