To assist anyone that has interest in our services we offer this simple three step guideline.
It is of utmost importance that clients recognize that Durig Capital does not receive or hold any client assets or monies, and that Durig Capital acts strictly as a fiduciary utilizing third party custodians to broker, clear, and hold all client trades and investments. Therefore, the first step is to consider is the selection of which holding firm (custodian) you prefer.
Step 1 – The Investment Holding Firm Agreement
We ask our clients to select one, or both, of the following custodian firms:
A) TD Ameritrade
When selecting your preferred custodian, please be sure to also specify the following:
- Type of account(s). New account types can include: Individual, Joint, UGMA/UTMA, Trusts, Estates, Partnerships, Corporate/Business, Retirement and/or a variety of other non-prototype accounts.
- Indicate any need to transfer assets from an existing brokerage account, or
- If you prefer to authorize Durig Capital as Advisers on an pre-existing account.
We here at Durig Capital will email, mail or fax you the proper forms for your preferred custodian. Your account will be established with them in your name, or a name already identified in an existing account. As clients often tell us the most difficult part is understanding and completing the custodian’s documentation questions, we can offer our assistance, but the documents themselves are outside of our area of control. If you have any issue or question regarding any aspect the process, we encourage you to give us a call. We deal with account paperwork frequently, and will likely save you time and effort as well as pleasantly surprise you with the ease and effienciency of how things work on the institutional side.
Once this first step is completed, the rest is really quite easy. After the paper work is returned to us, it often takes only a day (or less) to establish the new records. All of our clients, if desired, will have 24/7 online access (with their custodian) to all equity and asset holdings, and to any and all records and required reporting (such as trades, values, confirmations, statements, and taxes) directly from your selected Custodian. This third party validation provides an extremely high level of transparency, flexibility and accountability to and for you.
Step 2 – The Durig Advisory Agreement
You have your choice between:
A) Non-discretionary Agreement – In this structure we need your verbal or written agreement approval prior to ANY TRADE. This allows you to still be in charge of placing the investment, often the clients are selecting bonds directly from our weekly newsletter.
B) Discretionary Agreement – We select the investments and manage the funds for you. Due to market conditions and communications, we believe client accounts typically perform better utilizing this option.
We will email, fax or mail you the proper document for your preferred arrangement. The Durig Advisory agreement must be signed (on the last page) and a copy returned to us.
At this point your ready to participate in our syndication offerings.
Step 3 - The Funding
Once your account is established, we will provide you with the necessary account information to access your account online and ask that you write all checks to and/or provide all wire transfers directly to the custodian that you have selected. As a reminder, please always put in writing both the custodian name and your account number on every check or wire transfer.
Discretionary accounts require funding prior to investment participation. Non-discretionary accounts require that all funds be deposited within three business days after any new purchase (Normal Settlement).
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Whenever you are ready, at Durig Capital, we are “always putting your interest first !”