Firm Description
The financial advisory practice of GLASGOW PARTNERS, LLC was founded in
2003.
GLASGOW PARTNERS, LLC offers personalized confidential investment management
to federally insured credit unions. Advice is offered through consultation with the senior
officers of the client and may include: assessing a client’s assets and liabilities, income
and expenses, risk tolerance, and overall business operations.
GLASGOW PARTNERS, LLC is strictly an adviser to institutional clients – federally
insured credit unions – in a non-discretionary fashion. Investment advice is offered, with
the client making the final decision on investment selection. No finder’s fees are
accepted.
GLASGOW PARTNERS, LLC does not act as a custodian of client assets. The client
always maintains asset control through SEC and FINRA registered custodial
broker/dealers.
GLASGOW PARTNERS, LLC places trades for clients under a limited power of attorney.
Conflicts of interest will be disclosed to the client in the unlikely event they should occur.
An 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 services
offered by GLASGOW PARTNERS, LLC may be beneficial to the client.
Principal Owners
Thomas Campbell is the principal owner of GLASGOW PARTNERS, LLC.
Types of Advisory Services
GLASGOW PARTNERS, LLC offers investment advisory services, also known as asset
management services. As of December 31, 2023, GLASGOW PARTNERS, LLC
manages approximately $113 million in assets for 8 credit union clients. All client assets
are managed on a non-discretionary basis.
Tailored Relationships
The goals and objectives for each client are identified in meetings with clients.
Investment Policy Statements are created or, if already on file, reviewed to ensure that
they reflect the stated goals and objectives and are compliant with Federal and state
credit union regulations. Client investment policies may impose restrictions on investing
in certain securities or types of securities. Agreements may not be assigned without client
consent.
Types of Agreements
The following agreements define the typical client
relationships.
Investment Management Agreement
Some clients may choose to have GLASGOW PARTNERS, LLC manage their investment
assets in order to obtain ongoing advice within industry-specific regulatory frameworks.
All aspects of the client’s financial statements, balance sheet, and income statement are
generally reviewed. Realistic goals and objectives are set and steps to reach those goals
are identified. As goals and objectives change over time, suggestions are made and
implemented on an ongoing basis.
The scope of work and fees for an Investment Advisory Agreement are provided to the
client in writing prior to the start of the relationship. An Investment Advisory Agreement
includes: cash flow management; investment management (including periodic
performance reporting);
The annual Investment Advisory Agreement fee is based on the total investable assets
according to the following schedule:
$5,000 on portfolios up to $5,000,000;
$16,000-$25,000 on portfolios between $5,000,001 & $15,000,000;
$25,000-$30,000 on portfolios between $15,000,001 & $25,000,000;
Fees on portfolios greater than $25,000,000 are negotiable.
Current client relationships may exist where the fees are higher or lower than the fee
schedule above. The level of annual fees is negotiable.
Although the Investment Advisory 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.
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Termination of Agreement
A Client may terminate the aforementioned agreement at any time by notifying
GLASGOW PARTNERS, LLC in writing and paying the rate for the time spent on the
investment advisory engagement prior to notification of termination.
GLASGOW PARTNERS, LLC may terminate the aforementioned agreement at any time
by notifying the client in writing.