Frequently Asked Questions
We are a family-run business with a small and experienced team. We lean on our derivatives expertise and stick to a well-defined "strike zone" to deploy our investment strategy. We speak to our clients directly on a regular basis (no hold line, no routing to different departments). We actively manage client assets, unlike some managers who use mutual funds and ETFs to construct portfolios (and charge a fee on a fee). We have a deep understanding of our clients' needs, and we tailor their portfolios to meet and exceed those goals. We invest our own assets utilizing the same methodology and instruments we use for our clients. Our firm is built on reputation and referrals – integrity and honesty are core values at BIA.
At BIA, accounts are held in client's names at a globally recognized custodian and always visible to the client (even intra-day).
Many fund managers require clients to hand over custody of their assets to the manager. These fund managers then will often co-mingle clients’ funds with other investors. Co-mingled accounts create risk in the event of insolvency of the fund, make it more difficult for clients to withdraw funds, open the door for additional and opaque “fund-level” fees, and can create negative tax consequences of which many investors are unaware.
By managing your assets in separately managed accounts (SMAs) held at a well-known third-party custodian, BIA sidesteps these problems. With BIA as your advisor, you’ll have complete and real-time transparency into your assets, receive a tax bill that is a clean representation of your actual returns, and have easy access to your money.
Multiple decades of investment experience is difficult to replicate, and we do not rely on junior staff to do the “grunt work.” Our collective experience has taught us to stick to a well-defined strike zone and remain disciplined in our evaluation of investment opportunities. Our focus is on quality – of businesses and their management teams – coupled with the safety of a solid balance sheet and liquid positions. This emphasis also produces a fairly concentrated portfolio of our best ideas.
We often identify industries with tailwinds and then conduct our own in-depth research to determine which are the best-positioned companies within those industries. After a target company is identified, BIA can employ cross-asset implementation strategies that allow us to express our view in the most effective manner. One especially valuable strategy takes advantage of our expertise in derivatives. We selectively employ this expertise to manage risk and capture additional upside.
At BIA, clients receive a personalized 1099 directly from our custodian. As an investment manager, we frequently consider the after-tax impact of investment decisions and hand-select tax lots.
No, BIA does not charge commissions and there are no hidden or third party fees.
All fees are explicitly outlined in BIA client agreements.