Firm Description
DB Fitzpatrick was founded in 1984.
DB Fitzpatrick provides personalized confidential investment management to individuals,
pension and profit sharing plans, trusts, estates, charitable organizations, and small
businesses.
DB Fitzpatrick is strictly a fee-only investment management firm. The firm does not sell
annuities, insurance, stocks, bonds, mutual funds, limited partnerships, or other
commissioned products. The firm is not affiliated with entities that sell financial products or
securities. No commissions in any form are accepted. No finder’s fees are accepted.
Although DB Fitzpatrick and the client develop a mutual understanding regarding long-term
strategic asset allocation, DB Fitzpatrick maintains final control regarding security selection
and asset allocation on a continuous basis. DB Fitzpatrick does not act as a custodian of
client assets. The client always maintains asset control. DB Fitzpatrick places trades for
clients under a limited power of attorney.
Other professionals (e.g., lawyers, accountants, insurance agents, etc.) are engaged
directly by the client on an as-needed basis. Conflicts of interest will be disclosed to the
client in the unlikely event they should occur.
The initial meeting, which may be by telephone, is free of charge and is considered an
exploratory interview to determine the extent to which investment management may be
beneficial to the client.
Principal Owners
Dennis B. Fitzpatrick is a 71% stockholder.
Brandon C. Fitzpatrick is a 29% stockholder.
Types of Advisory Services
DB Fitzpatrick manages client investment portfolios. DB Fitzpatrick sends general
information to clients including a periodic investment outlook that includes information
about market conditions and is also available to non-clients on our website or by request.
As of December 31, 2024, DB Fitzpatrick manages approximately $1.32 billion in assets for
approximately 111 clients. The total firm assets include approximately $843 million in
whole loan commercial mortgages, which are not liquid securities. The mortgage program
provides customized funding with commercial properties as collateral. Most accounts are
managed on a discretionary basis. Two accounts are managed on a non-discretionary
basis due to the restrictions and limitations placed by the clients.
Tailored Relationships
The goals and objectives for each client are documented in our client relationship
management system. The Investment Advisor Agreement
reflects the stated goals and/or
objectives. Clients may impose restrictions on investing in certain securities or types of
securities.
Types of Agreements
The typical client relationship is defined by an Investment Advisor Agreement. This type of
agreement is discussed below.
Investment Advisor Agreement
An Investment Advisor Agreement is always executed as part of the relationship.
Most clients choose to have DB Fitzpatrick manage their assets in order to obtain ongoing
in-depth advice and life planning. All aspects of the client’s financial affairs are reviewed.
Realistic and measurable goals are set and objectives to reach those goals are defined. As
goals and objectives change over time, suggestions are made and implemented on an
ongoing basis.
The scope of work and fee for an Investment Advisor Agreement is provided to the client in
writing prior to the start of the relationship.
Although the Investment Advisor Agreement is an ongoing agreement and constant
adjustments are required, the length of service to the client is at the client’s discretion. The
client or the investment manager may terminate an Agreement by written notice to the
other party. At termination, fees will be billed on a pro rata basis for the portion of the
quarter completed. The portfolio value at the completion of the prior full billing quarter is
used as the basis for the fee computation, adjusted for the number of days during the billing
quarter prior to termination.
Asset Management
Assets may be invested in exchange-traded funds, equities (stocks), warrants, corporate
debt securities, commercial paper, commercial mortgages, certificates of deposit, municipal
securities, investment company securities (variable life insurance, variable annuities, and
mutual funds shares), U. S. government securities, U.S. government agency securities,
options contracts, futures contracts, and interests in partnerships.
Securities may be purchased or sold through a brokerage account when appropriate. The
brokerage firm may charge a fee for securities trades. DB Fitzpatrick does not receive any
compensation, in any form, from fund companies or brokerage firms.
The brokerage firm selection process includes a review of the research provided, execution
capabilities, commission rate, financial responsibility, privacy policy, security policy,
administrative resources, and responsiveness.
Initial public offerings (IPOs) are not available through DB Fitzpatrick.