Frequently Asked Questions

Clear answers to how MacNicol & Associates Asset Management Inc. (MAAM) manages, protects, and grows client capital.

Who does MAAM serve?

MAAM partners with founders, executives, employees, multi‑generational families, family enterprises, and select institutions that value disciplined, research‑led portfolio management and direct access to their investment team.

Customized, complex, multi‑account structures (corporate, trust, personal, foundation), post‑liquidity wealth stewardship, tax‑aware portfolio construction, and a need for consistent communication with true discretionary management.

Diversified portfolios driven by evidence‑based data, and strict risk‑management. MAAM blends global public markets with selectively sourced private opportunities. The goal is compounding after‑tax, after‑fee returns with controlled downside and transparent risk budgeting.

Each relationship receives an Investment Policy Statement (IPS) that defines return objectives, constraints, and risk tolerance. Portfolios are built using core exposures (equities, fixed income, cash), complemented by alternative assets (private equity, real estate, hedge funds, and precious metals) to target the agreed upon risk/return profile.

Discretionary means the firm executes within your IPS without seeking trade‑by‑trade approval. This improves timeliness, discipline, and implementation quality while maintaining full reporting and oversight.

Minimums are set by mandate and household complexity. MAAM does not have a minimum account size and each relationship is managed on a case by case basis.

A transparent, tiered assets‑under‑management (AUM) fee that declines at higher asset levels. There are no performance fees on public‑market mandates. For certain private vehicles, costs are disclosed in offering memorandums. Contact us for our fee grid. MAAM does not earn any trading fees, commissions on assets, or other financial fees on assets.

Assets are held at independent, third‑party custodians. MAAM Inc. has trading authority, not withdrawal authority beyond agreed fee arrangements. Clients receive statements from the custodian and performance reports from the firm.

Quarterly performance packages include time‑weighted returns vs. relevant benchmarks, contribution/attribution, risk metrics (volatility, drawdown), holdings, and transactions. Households can consolidate across personal, corporate, trust, and foundation accounts.

  1. Intro call (fit + goals)
  2. Discovery (documents, tax/estate context)
  3. IPS draft + review
  4. Custody + account setup and transfers
  5. Phased implementation (to manage taxes and market entry risk)

Typical timeline: 2–6 weeks depending on transfer speeds and complexity.

Risk is budgeted at the IPS level and monitored daily. Tools include strategic asset allocation, factor and sector limits, position sizing, liquidity tiers, and scenario testing (rates, inflation, recession). Rebalancing is rules‑based with tax awareness.

MAAM Inc. builds with tax lots in mind—asset location (registered vs. taxable), loss harvesting windows, distribution management, and security selection that balances factor exposure with tax drag. The firm coordinates with your tax and estate advisors.

Yes. The IPS records exclusion lists (e.g., sectors, geographies) and positive tilts. The firm offers ESG‑aware implementation where data quality meets fiduciary standards.

Proactive touchpoints include weekly communication pieces, and annual (or even quarterly) portfolio reviews. Clients also have access to the portfolio manager for strategy updates.

MAAM sources select private opportunities (credit, real assets, growth equity) that meet the firm’s diligence standards. Minimums, liquidity, and risks are documented case‑by‑case. Suitability is assessed within the IPS and overall liquidity plan.

The firm is compensated solely via AUM fees, not commissions. Best‑execution reviews, trade allocation policies, and soft‑dollar disclosures are part of compliance. Any potential conflicts are documented and explained before engagement.

The IPS is designed to be durable through cycles. The firm will rebalance to targets, harvest losses where appropriate, and adjust exposures only when the thesis or risk budget requires it—avoiding reactive, headline‑driven decisions.

Yes. The firm coordinates with tax, legal, insurance, and estate professionals to align structures, cash flows, and reporting—reducing friction and duplication.

Clarity on goals, acceptable risk, time horizon, and decision process. If you value transparent reporting, high‑signal communication, and disciplined execution, the discretionary model is usually a strong fit.

What to expect in the first 90 days

  • IPS finalized and signed
  • Accounts funded and legacy positions mapped (retain, transition, or phase‑out)
  • Initial portfolio implemented within agreed tax and risk guardrails
  • Reporting portal activated; annual, or quarterly review cadence scheduled

Documents typically requested

Recent statements, organizational charts (for entities), trust/estate summaries, tax context, current IPS (if any), and any constraints (values, liquidity needs, concentration limits).

Ready to take the next step?

  • Option A: 20‑minute fit call with a portfolio manager
  • Option B: Share statements for a no‑obligation second opinion (fees, risk, tax drag, overlap)
  • Option C: Request a sample performance pack and reporting walkthrough

Glossary

AUM Fee: Percentage of assets paid for management.
Custodian: Independent institution that safeguards assets and issues statements.
IPS: Document that defines objectives, constraints, and risk bands.
Rebalancing: Returning the portfolio to target weights after market moves.
Time‑Weighted Return: Measures manager skill by removing impact of cash flows.