Business Description
We provide services to individuals and high-net-worth individuals concerning mutual funds,
fixed income securities, real estate funds (including public REITs), equities, ETFs (including ETFs
in the gold and precious metal sectors), treasury inflation protected/inflation linked bonds and
non-U.S. securities. As a registered investment adviser, we are held to the highest standard of
client care – a fiduciary standard. As a fiduciary, we always put our client’s interests first and
must fully disclose any potential conflict of interest. We do not hold customer funds or securities.
Registration as a “registered investment adviser” does not imply a certain level of skill or
training.
A. Description of the Advisory Firm
May Barnhard Investments, LLC dba MBI LLC (hereinafter “MBI LLC”) is a Limited
Liability Company organized in the State of Maryland.
The firm was formed in November 2013, and the principal owner is Councilor, Buchanan
& Mitchell, P.C.
B. Types of Advisory Services
Portfolio Management Services
MBI LLC offers ongoing portfolio management services based on the individual goals,
objectives, time horizon, and risk tolerance of each client. MBI LLC creates an Investment
Policy Statement for each client, which outlines the client’s current situation (income, tax
levels, and risk tolerance levels) and then constructs a plan to aid in the selection of a
portfolio that matches each client's specific situation. Portfolio management services
include, but are not limited to, the following:
• Investment strategy • Personal investment policy
• Asset allocation • Asset selection
• Risk tolerance • Regular portfolio monitoring
MBI LLC evaluates the current investments of each client with respect to their risk
tolerance levels and time horizon. MBI LLC will request discretionary authority from
clients in order to select securities and execute transactions without permission from the
client prior to each transaction. Risk tolerance levels are documented in the Investment
Policy Statement, which is given to each client. MBI LLC will also provide investment
advisory services to clients on a non-discretionary basis.
MBI LLC seeks to provide that investment decisions are made in accordance with the
fiduciary duties owed to its accounts and without consideration of MBI LLC’s economic,
investment or other financial interests. To meet its fiduciary obligations, MBI LLC
attempts to avoid, among other things, investment or trading practices that systematically
advantage
or disadvantage certain client portfolios, and accordingly, MBI LLC’s policy is
to seek fair and equitable allocation of investment opportunities/transactions among its
clients to avoid favoring one client over another over time. It is MBI LLC’s policy to
allocate investment opportunities and transactions it identifies as being appropriate and
prudent among its clients on a fair and equitable basis over time.
Services Limited to Specific Types of Investments
MBI LLC generally limits its investment advice to mutual funds, fixed income securities,
public REITs, equities, ETFs (including ETFs in the gold and precious metal sectors),
treasury inflation protected/inflation linked bonds and non-U.S. securities, although MBI
LLC primarily recommends mostly mutual funds and ETFs, generally in U.S. securities,
balanced across all capitalizations, to a majority of its clients. MBI LLC may use other
securities as well to help diversify a portfolio when applicable.
Financial Planning
Financial plans and financial planning may include, but are not limited to: investment
planning; life insurance; tax concerns; retirement planning; college planning; and
debt/credit planning.
C. Client Tailored Services and Client Imposed Restrictions
MBI LLC will tailor a program for each individual client. This will include an interview
session to get to know the client’s specific needs and requirements as well as a plan that
will be executed by MBI LLC on behalf of the client. We will consider the client's
investment preferences in addition to risk, where we consider it appropriate. MBI LLC
may use preferred investments together with a specific set of recommendations for each
client based on their personal restrictions, needs, and targets.
Beyond the inherent restrictions based on a client’s suitability/risk tolerance profile,
clients of MBI LLC may impose further restrictions (e.g., in accordance with their values
or beliefs) on investing in certain securities or types of securities. Any such restrictions
shall be documented in the investment policy of the agreement.
D. Wrap Fee Programs
A wrap fee program is an investment program where the investor pays one stated fee that
includes management fees, transaction costs, fund expenses, and other administrative
fees. MBI LLC does not participate in any wrap fee programs.
E. Assets Under Management
MBI LLC has the following assets under management:
Discretionary Amounts: Non-discretionary Amounts: Date Calculated:
$ 277,684,339.00 $ 18,145,927.00 12/31/2023