Overview
Holderness primarily provides customized investment management services to high-net-worth individuals and associated trusts, estates,
pension, profit- sharing plans, and other legal entities, (each a “Client” and collectively the “Clients”). Holderness generally invests
Client assets in domestic and international stocks, bonds, mutual funds, and exchange traded funds (“ETFs”).
Holderness works with each Client to establish an appropriate Investment Profile. Holderness will work with each Client to document
their respective Investment Profile, including:
A description of the Client’s situation, risk profile, and objectives
Explanation of the investment strategy that will be pursued; and
Documenting any guidelines and/or restrictions.
Holderness was founded in 1995 and is owned by Richard Holderness and Kim Cummings Eder. As of December 31, 2023, Holderness
managed approximately $486,052,778 on a discretionary basis and approximately $24,772,648 on a non-discretionary basis.
General
Portfolio management fees are individually negotiated with each client, are based on a percentage of assets under management, and are
generally subject to a maximum fee of one percent (1%), depending on the level of engagement. The specific advisory fees will be
identified in the investment advisory agreement between the client and Holderness. Holderness may,
in its discretion, make exceptions
to the foregoing or negotiate special fee arrangements where Holderness deems it appropriate under the circumstances.
Holderness charges fees quarterly in arrears based on an accounts average daily balance during the quarter. The account value upon
which the fee is based will include the current fair market value of all your investments managed by Holderness. These may include
mutual funds, ETFs, fixed annuity accounts, stocks, bonds, and other securities as noted above in the Advisory Business section. Most
Clients authorize Holderness to deduct fees automatically from their brokerage accounts, but Clients may request that Holderness send
quarterly invoices to be paid by check.
If a Client terminates the investment management agreement with Holderness in the middle of a billing period, Holderness will invoice
the Client for an amount that is pro-rated based on the account’s average daily balance and the number of days that the account was
managed during that quarter.
In addition to Holderness’s investment management fees, Clients bear trading costs and custodial fees. To the extent that Clients’
accounts are invested in mutual funds and/or ETFs that charge a separate layer of management, trading, and administrative expenses,
the Client is responsible for paying those costs.