A. Description of the Advisory Firm
Michael S. Ryan, Inc. dba Marathon Mission (hereinafter “MM”) is a Corporation
organized in the State of New York. The firm was formed in January 2003, and the
principal owner is Michael S. Ryan.
B. Types of Advisory Services
Portfolio Management Services
MM offers ongoing portfolio management services based on the individual goals,
objectives, time horizon, and risk tolerance of each client. MM creates an Investment
Policy Statement for each client, which outlines the client’s current situation (income, tax
levels, and risk tolerance levels). 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
MM evaluates the current investments of each client with respect to their risk tolerance
levels and time horizon. MM 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.
MM seeks to provide that investment decisions are made in accordance with the fiduciary
duties owed to its accounts and without consideration of MM’s economic, investment or
other financial interests. To meet its fiduciary obligations, MM attempts to avoid, among
other things, investment or trading practices that systematically advantage or
disadvantage certain client portfolios, and accordingly, MM’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 MM’s policy to allocate investment
opportunities and transactions it identifies as being appropriate and prudent, including
initial public offerings ("IPOs") and other investment opportunities that might have a
limited supply, among its clients on a fair and equitable basis over time.
Pension Consulting Services
MM offers consulting services to pension or other employee benefit plans (including but
not limited to 401(k) plans). Pension consulting may include, but is not limited to:
• identifying investment objectives and restrictions
• providing guidance on various assets classes and investment options
• recommending money managers to manage plan assets in ways designed
to achieve objectives
• monitoring performance of money managers and investment options and
making recommendations for changes
• recommending other service providers, such as custodians, administrators
and broker-dealers
• creating a written pension consulting plan
These services are based on the goals, objectives, demographics, time horizon, and/or risk
tolerance of the plan and its participants.
Financial Planning
Financial plans and financial planning may include, but not limited to: investment,
retirement, insurance, education, and tax planning.
MM provides guidance for estate plans, however they do not provide legal advice. MM
will engage third party service providers and attorneys for all legal work and document
preparation.
Services Limited to Specific Types of Investments
MM generally limits its investment advice to mutual funds, fixed income securities, real
estate funds (including REITs), insurance products including annuities, equities, ETFs
(including ETFs in the gold and precious metal sectors), treasury inflation
protected/inflation linked bonds, non-U.S. securities, venture capital funds and private
placements. MM may use other securities as well to help diversify a portfolio when
applicable.
Written Acknowledgement of Fiduciary Status
When we provide investment advice to you regarding your retirement plan account or
individual retirement account, we are fiduciaries within the meaning of Title I of the
Employee Retirement Income Security Act and/or the Internal Revenue Code, as
applicable, which are laws governing retirement accounts. The way we make money
creates some conflicts with your interests, so we operate under a special rule that requires
us to act in your best interest and not put our interest ahead of yours. Under this special
rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations
(give prudent advice);
• Never put our financial interests ahead of yours when making recommendations
(give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in
your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest.
C. Client Tailored Services and Client Imposed Restrictions
MM offers the same suite of services to all of its clients. However, specific client
investment strategies and their implementation are dependent upon the client Investment
Policy Statement which outlines each client’s current situation (income, tax levels, and risk
tolerance levels). Clients may impose restrictions in investing in certain securities or types
of securities in accordance with their values or beliefs. However, if the restrictions prevent
MM from properly servicing the client account, or if the restrictions would require MM to
deviate from its standard suite of services, MM reserves the right to end the relationship.
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. MM does not participate in any wrap fee programs.
E. Assets Under Management
MM has the following assets under management:
Discretionary Amounts: Non-discretionary Amounts: Date Calculated:
$ 105,075,923.00 $ 0.00 December 2022