Kehl Asset Management (KAM) is a money management firm providing
continuous, personalized management of separate investment portfolios
composed primarily of individual stocks. KAM uses TDAmeritrade Institutional as custodian for client accounts. All accounts remain
in the client's name. The broker generates trading confirmations
and monthly statements..
KAM offers many compelling advantages for your investment endeavors,
including the following:
KAM's fee is based
on a percentage of total portfolio assets, meaning KAM benefits
more favorably as your portfolio total increases. Thus, KAM strives
for the best return for your portfolio and reflects a direct financial
consequence if your portfolio performs well or poorly. KAM is not affiliated with anyone. KAM does not sell any
commission-based products that compensate KAM in any manner. KAM's
only objective is to select the best investments for your goals.
All client portfolios are designed with Kenneth Kehl's personal
portfolio as the model. While this alignment of interests does not
guarantee superior performance, you can be assured that KAM is entirely
centered on those results, constantly looking to refine and improve
the method used.
In addition to the reports provided by TDAmeritrade Institutional,
KAM also provides clients with a performance report showing the
return on investment for your individual portfolio. Regardless of
how KAM performs, YOU WILL KNOW, and you will be able to
identify the areas that are performing well or poorly. For full
disclosure, your quarterly reports show before-tax return on investment figures for the year-to-date.
KAM generally focuses on one thing: individual stocks. KAM's time is spent investigating the fundamentals of individual companies and determining
their suitability for purchase.
This investment philosophy is based on the concept that stocks
represent shares of a business whose price, over time, will reflect
the economic reality of that business. KAM's investment selection
is fundamental in nature and favors companies with understandable
businesses with strong balance sheets and excess cash flow above
and beyond all normal capital expenditures. KAM selections have
generally been focused on the retail, restaurant, and financial
services fields, though stocks from other industries are considered
and purchased. Please refer to the philosophy and reports section
for a more extensive description of KAM's approach.
KAM offers its services to individuals.. The following summary describes our management:
| Portfolio Management |
| * Full discretionary portfolio management
of equity accounts |
| *Detailed quarterly KAM performance
reports |
| *Client Letters on a quarterly
basis |
| Fee Structure |
| *The KAM fee is based on a flat percentage
of total assets under management. With client approval,
this fee is electronically debited after the quarter is
completed. This fee is not pre-paid. |
| *The yearly fee is 1.5%, assessed on
a quarterly basis at the rate of 0.375%. |
| Custody |
| *A client account is opened at TDAmeritrade Institutional. This firm acts as custodian. KAM
never takes possession of client assets and ready access
to funds is always available. |
|
| *All activity in the account is visible
on a one day delayed basis through the TDAmeritrade Institutional website. |
| Function of Broker |
| *TDAmeritrade Institutional
generates monthly account statements, trade confirmations,
and processes the distribution and receipt of funds. |
| *Trades are generally executed through
bunched equity orders to assure equivalent pricing across all portfolios. |
| *
For most orders, TDAmeritrade Institutional charges $9.99.
KAM does not receive this commission. These expenses
are usual and customary. Persons who select investments
independently would still have to pay most, if not all,
of these brokerage fees. |
| *Because KAM is compensated by the level
of assets in a client's account, KAM has a monetary interest
in ensuring that outside charges are kept to a minimum. |
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