How does managing with discretion benefit me?
All OMC accounts held at Schwab Institutional are managed with discretion, so that we can buy or sell securities without first contacting the client. This approach allows us to act in an efficient and timely manner. Rather than consuming valuable time contacting each client we can respond to changes in investments. As explained in "How does OMC manage client accounts?" we have employed some very efficient ways of trading which would not work without discretion. By written agreement, you provide limited authorization for all actions in your portfolio, such as placing trades in your account, distribution of funds to you, or withdrawal of your management fee. Although all accounts are discretionary, your account(s) is (are) registered in your individual name and all trade confirmations and statements are sent directly to you. OMC is not a custodian. Charles Schwab & Company serves as a custodian and we have no investment relationship with them.
