For a limited number of clients, KKRA acts as a "Manager of Managers." That is, we determine the client's entire asset picture; help with estate planning issues on an on-going basis by working with the client's tax attorneys and accountants; manage some of the funds while putting other funds out for management by other firms; and importantly, report to the client on a monthly basis in a comprehensive manner by providing cash flow, as well as income & balance sheet information.
This service is most useful for individual and family clients with both pre-tax and taxable assets such as retirement plans, charitable funds, and one or more trusts and/or after-tax portfolios. While every client is unique, our primary responsibilities include:
Determine each asset's description, location, ownership, and liquidity status
Determine the status of all liabilities
Work with members of the legal, accounting, investment manager, and custodian
and/or broker team
Construct a set of monthly financials that include:
A forward-looking cash flow analysis
A monthly and year-to-date statement of Additions and Withdrawals to the
financials
An asset allocation table and chart for both financial assets as well as total
assets
A monthly performance schedule, presented in table and chart formats, for all
portfolios, which includes percent of assets, total dollar return, percentage return and
a measurement against the appropriate benchmark
A year-to-date performance schedule, presented in table and chart formats, for all
portfolios which includes percent of assets, total dollar return, percentage return and
a measurement against the appropriate benchmark
A since inception performance schedule, for all portfolios, which includes percent of
assets, total dollar return, percentage return and a measurement against the
appropriate benchmark
A Balance Sheet including all liquid and illiquid assets, as well as all current and
long-term liabilities showing the most recent valuation date and percentage of total
assets
A schedule of all private or illiquid assets, each of which has its own sub-cash flow
schedule, to include such information as investment date, type investment, size of
investment, form/frequency of payment, certificate or evidence of ownership,
location and contact information
A real estate schedule including description, purchase date, mortgage information,
mortgage and/or balloon payments, and an anticipated cash flow analysis in US
dollars for the next 12 months
A capital gains tax liability schedule to include all short and long-term realized
gains listed by portfolio or type of assets
Schedule frequent written and in-person asset and portfolio reviews
Prepare, distribute and analyze "Request for Proposals" (RFPs) when new equity or
fixed income managers are sought
KKRA then includes this set of financials in a broader monthly report, which deals with both financial and non-financial issues. This report is organized by type of portfolio and includes:
A monthly "to-do" list that covers all outstanding and/or recommended issues
An analysis of the current economic, equity and debt markets with recommendations
An analysis and commentary relating to all managed portfolios
An analysis and commentary relating to all non-financial assets
An "estate" section which deals with on-going estate design and tax-related issues
KKRA typically manages the taxable and tax-exempt assets for these clients, and is paid a negotiated annual fee, which is paid quarterly.
Finally, KKRA does "financial modeling" for each client using their unique financial profile and stated objectives. Anticipated future financial conditions and the client's financial needs are incorporated into the analysis. As and where appropriate, KKRA makes asset allocation recommendations:
The outline for the monthly set of financials typically looks as follows:
Section Description
1. Summary Comments
2. Financials with comments
3. The economy, stock & bond markets
4. KKRA Report of the "CORE" portfolio with comments
5. Broker managed and non-managed portfolios
6. Trusts
7. Foundation Matters
8. Private Investments
9. Estate Planning Matters
This service is most useful for individual and family clients with both pre-tax and taxable assets such as retirement plans, charitable funds, and one or more trusts and/or after-tax portfolios. While every client is unique, our primary responsibilities include:
Determine each asset's description, location, ownership, and liquidity status
Determine the status of all liabilities
Work with members of the legal, accounting, investment manager, and custodian
and/or broker team
Construct a set of monthly financials that include:
A forward-looking cash flow analysis
A monthly and year-to-date statement of Additions and Withdrawals to the
financials
An asset allocation table and chart for both financial assets as well as total
assets
A monthly performance schedule, presented in table and chart formats, for all
portfolios, which includes percent of assets, total dollar return, percentage return and
a measurement against the appropriate benchmark
A year-to-date performance schedule, presented in table and chart formats, for all
portfolios which includes percent of assets, total dollar return, percentage return and
a measurement against the appropriate benchmark
A since inception performance schedule, for all portfolios, which includes percent of
assets, total dollar return, percentage return and a measurement against the
appropriate benchmark
A Balance Sheet including all liquid and illiquid assets, as well as all current and
long-term liabilities showing the most recent valuation date and percentage of total
assets
A schedule of all private or illiquid assets, each of which has its own sub-cash flow
schedule, to include such information as investment date, type investment, size of
investment, form/frequency of payment, certificate or evidence of ownership,
location and contact information
A real estate schedule including description, purchase date, mortgage information,
mortgage and/or balloon payments, and an anticipated cash flow analysis in US
dollars for the next 12 months
A capital gains tax liability schedule to include all short and long-term realized
gains listed by portfolio or type of assets
Schedule frequent written and in-person asset and portfolio reviews
Prepare, distribute and analyze "Request for Proposals" (RFPs) when new equity or
fixed income managers are sought
KKRA then includes this set of financials in a broader monthly report, which deals with both financial and non-financial issues. This report is organized by type of portfolio and includes:
A monthly "to-do" list that covers all outstanding and/or recommended issues
An analysis of the current economic, equity and debt markets with recommendations
An analysis and commentary relating to all managed portfolios
An analysis and commentary relating to all non-financial assets
An "estate" section which deals with on-going estate design and tax-related issues
KKRA typically manages the taxable and tax-exempt assets for these clients, and is paid a negotiated annual fee, which is paid quarterly.
Finally, KKRA does "financial modeling" for each client using their unique financial profile and stated objectives. Anticipated future financial conditions and the client's financial needs are incorporated into the analysis. As and where appropriate, KKRA makes asset allocation recommendations:
The outline for the monthly set of financials typically looks as follows:
Section Description
1. Summary Comments
2. Financials with comments
3. The economy, stock & bond markets
4. KKRA Report of the "CORE" portfolio with comments
5. Broker managed and non-managed portfolios
6. Trusts
7. Foundation Matters
8. Private Investments
9. Estate Planning Matters