Years in Business: Since 1991
Registration Status: Registered with the SEC on April 12,
19991
Principal Owners: James F. Bell, Forrest R. Bell
Assets Under Management: Discretionary Assets – $584,346,599
As of December 31, 2023 Non-discretionary Assets – $60,190,530
Total Assets Under Management - $644,537,129
ADVISORY SERVICES
Separately Managed Client Accounts
BIA is a California corporation that provides investment management, financial planning and financial
consultation services to its clients. BIA’s investment management services include, among others, financial
goal setting, risk assessment, strategic asset allocation and the selection and management of securities and
investments. Securities transactions are supervised on a continuous basis and each client’s portfolio
holdings and asset allocations are monitored on a periodic basis.
The investment management services we provide are based on each individual client’s financial
circumstances and investment objectives. Our investment advisors communicate with each client to
discuss the client’s current financial condition and to review the client’s current investment holdings.
Based upon each client’s circumstances, we determine an appropriate asset allocation for the client’s
investment portfolio, in accordance with the client’s specific financial objectives and risk tolerance and in
consideration of other factors, including the client’s time horizon (education funding, home purchase,
retirement, legacy planning), liquidity needs, and other available resources (including external retirement
plans, projected social security, outside investments, real estate, and insurance). Clients may identify any
investment restrictions to be placed on their account. Each client’s financial objectives, risk tolerance,
and liquidity needs, along with a recommended asset allocation, are incorporated into an investment
policy statement that is customized for each client.
A client may make additions to and withdrawals from the client’s portfolio account at any time, subject
to the Firm’s right to terminate an account if the amount of assets drops below our account size minimum.
Clients may withdraw account assets with notice to the Firm, subject to the usual and customary securities
settlement procedures. However, we design client portfolios as long-term investments and caution our
clients that asset withdrawals will impair the achievement of the client’s investment objectives.
Additions to an account may be in cash or securities provided that we reserve the right to decline to
accept particular securities into a client’s account or to recommend that the security be liquidated if it is
inconsistent with the Firm’s investment strategy or the client’s investment objectives. Clients are advised
that when transferred securities are liquidated, they will be subject to transaction fees, fees assessed at
the mutual fund level (i.e. contingent deferred sales charge) and/or tax ramifications.
BIA generally requires clients to place a minimum of $750,000 under management with the Firm. Multiple
client accounts are aggregated to meet this minimum. Under certain circumstances, and in its sole
discretion, the Firm may waive or alter the minimum account size requirement.
1 “Registration” means only that the Firm meets the minimum
requirements for registration as an investment advisor and does
not imply that the SEC guarantees the quality of our services or recommends them.
Financial Planning and Financial Consultation Services
For those investment management clients that request them, BIA provides comprehensive financial
planning or other financial consultation services on either an hourly fee or fixed fee basis. BIA’s financial
planning or consultation services could include, depending on the client’s needs and requests, a financial
review and analysis of some or all of the following areas:
• Determining Financial Goals and Objectives
• Asset Allocation Review
• Retirement Plan Analysis
• Employee Stock Option Analysis
• Current Portfolio Review
• Education Funding Analysis
• Cost Audit of Current Investments
• Cash Flow Management Review
• Review of Insurance Needs
• Mortgage and Refinance Evaluation
• Estate Plan Review or Development
• Charitable (or social capital) Planning
• Other financial or investment analysis
Clients engaging BIA to provide financial planning or consultation services under a fixed or hourly fee
basis are required to enter into a separate written agreement with BIA setting forth the terms and
conditions of the planning engagement and describing the scope of the services to be provided.
Fiduciary Status
When BIA provides investment advice to you regarding your investment accounts, including your
retirement plan account or individual retirement account, we are fiduciaries within the meaning of
certain state and federal laws such as the Employee Retirement Income Security Act and/or the
Internal Revenue Code and the regulations of the U.S. Securities and Exchange Commission, as
applicable. These regulations require us to act in your best interest and not put our interests ahead
of yours.
General Notice
In performing its services, BIA relies upon the information received from its client or from their other
professional legal and accounting advisors, and is not required to independently verify such information.
Clients must promptly notify us of any change in their financial situation or investment objectives that
would necessitate a review or revision by our advisors of the client’s portfolio and/or financial plan.
TERMINATION OF AGREEMENT
Clients retain the authority to terminate their investment management agreement at any time upon
written notice to the Firm. The Firm does not assess any fees related to termination but will be entitled
to all management fees earned up to the date of termination. Any prepaid fees owed to the client will be
refunded on a pro rata basis determined on the amount of time expired in the calendar quarter.
If a copy of this Form ADV Part 2A was not delivered to the client prior to or simultaneous with a client
entering into a written advisory contract with Advisor, then the client has the right to terminate the
contract without penalty within five (5) business days after entering into the contract. For purposes of
this provision, a contract is considered entered into when all parties to the contract have signed the
contract. If the client terminates the contract on this basis, all fees paid by the client will be refunded.
Any transaction costs imposed by the executing broker or custodian for establishing the custodial account
or for trades occurring during those five days are non-refundable.