Frequently Asked Questions 

What services are provided to portfolio management clients?

Agile Investments ("Agile") provides portfolio management services to clients in accordance with the investment objectives stated by the client and confirmed by Agile. In providing these services, Agile exercises discretion with respect to the purchase and sale of investment securities, which are held at independent custodial institutions, such as Fidelity and TD Ameritrade. Client portfolios are managed on an individualized basis. Asset allocations for clients vary based upon a variety of factors including the client's investment objectives, risk tolerance, time horizon, net worth, tax situation, and other factors.

As a registered investment advisor, Agile serves clients in a fiduciary capacity, which entails:

i.      putting clients' best interests first;

ii.     avoiding any conflicts of interest;

iii.    providing thorough due diligence on the markets and the investments purchased for clients; and

iv.    delivering services as economically as possible in order to maximize net returns.

What is Agile's asset allocation philosophy? 
 

Agile takes an active, rather than a passive, approach to asset allocation. A passive asset allocation strategy fails to account for the fact that risk is rewarded much better in some market climates than others, and that individual asset classes can become over or under-valued. We believe that a disciplined tactical asset allocation strategy, over the longer-term, can be employed to generate superior returns compared to a buy and hold strategy. Our definition of long-term success is not just making money during bull markets, but protecting gains and defending capital during bear markets. Agile's process for making tactical asset allocation decisions encompasses an analysis of asset class fundamentals, as well as the technical and psychological condition of the markets.

What investments does Agile use in client portfolios?
 

Agile constructs portfolios principally with exchange-traded funds (ETFs), which provide a compelling combination of diversification, low expenses, performance and tax efficiency.  In certain asset classes - principally fixed income - Agile uses indexed mutual funds managed by Vanguard Investments.  The following document provides a list of the primary investments used by Agile to construct client portfolios.

Agile Core Portfolio Holdings 

What are your management fees?

Our management fees are detailed in the following schedule:

Clients are charged an annual fee based upon the fee schedule above. Fees are payable in advance on a quarterly basis and are based on the market value of all assets in the client's account at the close of the last business day of the preceding quarter.

Does Agile Investments charge for an initial consultation?

There is no charge for an initial consultation. We recognize the importance of earning your trust, and offer our insight and expertise without obligation.

Which custodian will be used to hold my accounts?

Client accounts are held in custody and brokerage services will be provided by Fidelity Investments or TD Ameritrade, which are our primary custodians.  Alternative custodial arrangements may be considered at the discretion of Agile.  We are not affiliated with any brokerage firm or fund company and are not compensated in any way by those firms. Clients are responsible for trading commissions charged by the custodian, which range from $8.00 to $12.95 for ETF orders depending on the size of the account. The number of trades per year in our portfolios will vary based upon market conditions, but clients should expect approximately 20 transactions (buys and sells) in a typical year.  

If I am not satisfied with Agile's services, is there a cost to terminate the agreement? 

Either party can terminate the Investment Agreement at any time, for any reason.  There is no termination charge, and clients are entitled to a refund of any unearned management fees.

Who has access to my money?

The only person or persons who have access are those whose names are listed as the owner(s) of the account.  Agile Investments has limited power of attorney to buy and sell securities, but not direct access to client funds. You will always have access to your account by calling the custodian or by using the Internet access provided by the custodian.

What type of reporting will I receive?

In addition to regular statements from the custodian, clients receive quarterly portfolio reports from Agile Investments, which include a detailed review of the performance and asset allocation of client accounts under management.

Who is responsible for the management of my portfolio?

J.D. Steinhilber is the President of Agile Investments, and is responsible for the management of all client portfolios.  J.D. has 16 years of experience in the securities industry. Prior to founding Agile Investments, he was a Partner and Senior Vice President in the Corporate Finance Department of J.C. Bradford & Co.   He graduated from the University of Virginia with a dual degree in Finance and Accounting, and a Minor in English.  J.D. serves on the Board and is the Treasurer of Ten Thousand Villages - Nashville, a non-profit retailer of fairly traded merchandise produced by artisans in developing countries. 

J.D. is a recognized authority on ETFs and ETF portfolio strategies.  His articles and comments have appeared in Forbes, the New York Times, the Wall Street Journal, CBSMarketWatch, and Investors Business Daily.  He has also been a guest on CNBC and a featured speaker at several ETF conferences.

Who else is on the Agile Investments team?

Brenton Flynn supports J.D. in a variety of functions, including investment research, portfolio management, and client service.  Prior to joining Agile Investments, Brenton spent more than three years as a securities analyst at Robert W. Baird & Company, composing investment research reports and making investment recommendations to institutional investors. Brenton graduated from Belmont University in Nashville, TN with a degree in Finance and has since passed all three levels of the Chartered Financial Analyst (CFA) designation exam.

Alicia Steinhilber is responsible for client reporting, compliance, and accounting. Prior to joining Agile Investments, Alicia managed finance and accounting functions for a small internet company.  In addition, she spent over seven years in investment banking with J.C. Bradford & Co, a regional investment banking firm later sold to PaineWebber.  Alicia is a graduate of the  University of Virginia.

Is this a tax-efficient strategy?

ETFs are among the most tax-efficient securities due to their low turnover and their unique product structure, which minimizes or avoids altogether the taxable distributions that have been problematic for mutual fund investors.  Agile's active approach to asset allocation will tend to be somewhat less tax-efficient than a strictly passive approach, but we do take into account the impact of taxes when we make tactical portfolio changes.  In addition, in taxable accounts, we actively look for opportunities to minimize tax liability through tax-swap strategies, where one ETF position is sold to harvest a loss and another similar but not identical ETF is purchased to retain market exposure.