Overview
Investment Advisory Services
Aull & Monroe Investment Management Corporation (“Aull & Monroe” or “we”), an SEC
registered investment adviser was founded in Mobile, Alabama in 1990 by our principal
owners, James P. Aull & W. Earl Monroe. Jamie L. Thuss joined the firm in 1997 and
became a partner alongside Mr. Aull and Dr. Monroe in 2004. Since its inception Aull &
Monroe has served our clients under the Investment Advisers Act of 1940 (the “Act”) and
complies with the Act’s fiduciary standard of care. This standard requires that we act
solely in your best interests when offering personal financial advice, including making
investment decisions on your behalf. As a fee-based investment adviser, Aull & Monroe
provides continuous investment management services to you based on your specific needs.
Aull & Monroe specializes in the creation and management of custom portfolios based on
factors pertaining to your personal situation and does not fit you into a “one-size fits all”
portfolio. While neither Aull & Monroe nor its employees hold themselves out as financial
planners, services provided include similar duties involved in financial planning such as
reviewing your personal financial situation, developing a retirement policy, providing risk
and tax management strategies in addition to implementing and ongoing review of your
investment plan.
Since its inception in 1990, Aull & Monroe has grown through capital contributions, the
reinvestment of earnings and new client relationships to reach over $329,663,610 in
discretionary assets under management as of December 31, 2023. Aull & Monroe does not
manage assets on a non-discretionary basis.
Our investment philosophy is generally long-term and oriented toward a balanced portfolio
of high-quality stocks and investment grade bonds, augmented by a cash reserve. We also
manage all-stock portfolios as well as mutual funds and exchange traded funds. On behalf
of our client partners, Aull & Monroe seeks superior relative returns over time through
diversification, minimization of risk and the benefits of compounding.
Prior to engaging Aull & Monroe’s services, a client is required to enter into a written
agreement with Aull & Monroe setting forth the terms and conditions under which services
are provided (collectively the “Agreement”). As part of this Agreement, Aull & Monroe
obtains a limited power of attorney from the client providing us with discretionary
authority. As a discretionary investment adviser, we will have the authority to supervise
and direct the portfolio without prior consultation with you.
Notwithstanding the foregoing, clients may impose certain written restrictions on Aull &
Monroe in the management of their investment portfolios, such as prohibiting the inclusion
of certain types of investments in an investment portfolio or prohibiting the sale of certain
investments held in the account at the commencement of the relationship. Each
client
should note, however, that restrictions imposed by a client may adversely affect the
composition and performance of the client’s investment portfolio. Each client should also
note that his or her investment portfolio is treated individually by considering each
purchase or sale for the client’s account. For these and other reasons, performance of
client investment portfolios within the same investment objectives, goals and/or risk
tolerance may differ, and clients should not expect that the composition or performance of
their investment portfolios would necessarily be consistent with similar clients of Aull &
Monroe.
Retirement Plan Advisory Services
The Employee Retirement Income Security Act of 1974 (“ERISA”) sets forth rules under
which Plan Fiduciaries may retain investment advisers for various types of services with
respect to Plan assets. For certain services, Aull & Monroe will be considered a fiduciary
under ERISA.
Fiduciary Management Services
Aull & Monroe serves as a Section 3(38) fiduciary investment advisor in our work with
qualified retirement plans under the Employee Retirement Income Security Act (“ERISA”).
We work closely with the other plan fiduciaries to develop an Investment Policy Statement,
reflecting the investment objectives, policies, constraints and risk tolerance of the plan.
Aull & Monroe uses this document as a guide to exercise discretionary investment
decisions for the plan.
Participant Education (Non-Fiduciary Services)
For pension, profit sharing and 401(k) plan clients in self-directed plans for whom we have
been engaged for the discretionary or non-discretionary management services described
above, we may provide periodic educational support designed for the Plan Participants, if
provided for in our agreement with the client. The educational support will not provide
Plan Participants with individualized, tailored investment advice.
IRA Rollover Considerations
We are fiduciaries under the Investment Advisers Act of 1940 and when we provide
investment advice to you regarding your retirement plan account or individual retirement
account, we are also 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. We have to act in your best interest and not put our interest
ahead of yours. If we recommend that you roll over or transfer your retirement assets into
an account to be managed by us, such a recommendation creates a conflict of interest if we
will earn a new (or increase our current) advisory fee because of the rollover or transfer.
Investing in an IRA with us will typically be more expensive than an employer-sponsored
retirement plan. You are under no obligation to roll over plan assets to an IRA managed by
us or to engage us to monitor and/or manage the account while maintained at your
employer.