Options for Financial Managers
The Fort Dodge Community Foundation recognizes the importance of longstanding, valued and trusted relationships between clients and their financial managers. When an individual, family, nonprofit or company establishes a fund at the community foundation, there is an opportunity for their investment advisor to continue managing the portfolio.
If donors wish to use an investment advisor other than ones established by the Foundation, they may request to do so pending approval by the Board of Directors based on the following criteria.
- The independent investment advisor must follow the same investment management guidelines established in the Foundation’s Investment Policy Statement. Should a donor wish to use a more conservative investment strategy (i.e. a lower percentage of equities and a higher percentage of fixed instruments), he/she may do so as long as the guidelines stated in Item I (General Investment Objectives) are not compromised, and the strategy is approved by the Board.
- The independent investment advisor must provide the Foundation with quarterly reports regarding the activity and performance of the fund.
- The independent investment advisor must have appropriate qualifications, credentials and experience as a professional investment advisor and fund manager.
- The investment management fee structure may be higher that the Foundation’s Investment Pool. If this is the case, the donor must agree to the higher fee.
- The assets of the investment fund may be moved into the Foundation’s Investment Pool, if the Finance Committee determines one or more of the following:
- The investment return is inadequate.
- The relationship between the Foundation and investment advisor is in conflict.
- The administration of the fund becomes inefficient or unproductive.