Overview
Firm Description
White Pine Investment Company (“WPIC,” “us”, “our,” or “we”) is a Michigan
Corporation founded in 1997.
WPIC provides our clients with continuous and regular investment management
services which includes financial planning as explained in more detail below. In
providing these services, WPIC acts in the capacity of a fiduciary and, as such, is
obligated to place the interests of our clients first at all times. WPIC is strictly a
fee-only investment management firm. The firm is not affiliated with entities that
sell financial products or securities. No commissions or finders’ fees in any form
are accepted for financial planning and investment management.
The initial meeting, which may be by telephone, is free of charge and is
considered an exploratory interview to determine the extent to which financial
planning and investment management may be beneficial to the client.
Principal Owners
We must inform you of any persons owning twenty-five percent (25%) or more of
our firm’s outstanding stock. Anthony J. DiGiovanni is the majority shareholder
and he owns more than twenty-five percent (25%) of our firm’s stock.
Investment Management Services
WPIC will discuss and provide advice through consultation with the client which
may include: determination of financial objectives, identification of financial
problems, cash flow management, tax planning, insurance review, investment
management, education funding and retirement planning. A written evaluation of
each client's initial situation is provided to the client, often in the form of a
Financial Plan Review. Periodic reviews are also communicated to provide
reminders of the specific courses of action that need to be taken. More frequent
reviews occur but are not necessarily communicated to the client unless
immediate changes are recommended.
WPIC will recommend an investment strategy that we believe may help our
client’s meet their identified financial needs and objectives. Depending on the
client’s needs, objectives, and circumstances, the investment strategy may take
into consideration various components such as: net worth; current portfolio
allocation; goals and objectives; probability of achieving
goals; retirement
planning; an income tax summary; education funding; savings projections; and
other financial matters specific to the client. We rely upon the information the
client provides and will not verify this information when preparing our
recommendations. We rely on clients to inform us if their goals and objectives
change over time, as these changes might affect our provision of investment
management and financial planning services. WPIC suggestions are made and
implemented on an ongoing basis, for example:
1. A client’s review with WPIC results in a goal to plan for future
education costs. After this goal has been met another review
would take place to assess current goals.
2. An initial client’s review with WPIC results in plans for
retirement. After the client retires, another review takes place to
assess current goals.
When WPIC provides our services to “related” parties (i.e. husband and wife,
parent and child, etc.), our services will be based upon the joint goals
communicated to us. We will be permitted to rely upon instructions from either
party with respect to the services requested, unless and until such reliance is
revoked in writing and provided to us. We will not be responsible for any claims
or damages resulting from such reliance or from any change in the status of the
relationship between the clients. We cannot and will not treat information
provided by either party as confidential from the other related party.
Tailored Relationships
The goals and objectives for each client are documented in our client relationship
management system. Financial plans are created that reflect the stated goals
and objective. WPIC performs our investment management service pursuant to
the terms and conditions we establish in our written investment management
agreement at the beginning of our relationship with the client. As described in
further detail below in “ITEM 16: INVESTMENT DISCRETION” WPIC manages
client accounts on a discretionary basis; however, clients may place reasonable
restrictions on investing in certain securities or types of securities.
Assets Under Management
As of 12/31/2023, WPIC managed on a discretionary basis, $405,191,926 in
client assets.