transparency is key
We believe clients should be able to fully understand and define the costs associated with owning their investments. These costs include what what the Wall Street Journal has previous called "Hidden" and "Murky". This transparency allows our clients to maintain their own checks and balances with the goal of preventing hidden commissions and conflicts of interest from eating into investment returns.
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Unlike the Mutual Fund and 401(k) industries, where many fees and transactions can be concealed within fund's structure, our use of separate accounts provides the client with total transparency as to where the money within their accounts really ends up.
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As part of our commitment to transparency, we encourage our clients to perform their own due diligence on Citypark Financial and any other financial advice organization. Due diligence means an investigation into a business or person prior to signing contract, or engaging a person who should act with a specified standard of care.
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Your own, personal due diligence may include questioning the wisdom of receiving financial advice from a company that:
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Recently received government bailouts to stay in business - bailout money that came from you, the US Taxpayer
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Over-leveraged their own company and clients assets to a point that they failed to understand the risks to their own financial survival
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Generates revenue by charging undisclosed commissions and fees on client transactions
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Is regularly sued for profit maximizing tactics
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Motivate their staff by paying them massive commission-based salaries and bonuses
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As a supplement to their own due diligence our clients draw reassurance from the fact that Citypark Financial's large institutional clients undertake and maintain their own stringent due diligence prior our engagement as an asset manager. In addition, they are usually required to perform annual, or more frequent, due diligence scrutiny of operations and continuing management capability.
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Our operations and systems work on the principles of openness, accessibility and accountability. We have nothing to hide; we encourage our clients to share our interest in exposing the hidden costs and practices of the large brokerage-led financial system, just as the Financial Services Committee Chairman Barney Frank and the Senate Banking Committee Chairman Chris Dodd have sought to do by introducing the Dodd-Frank Act.
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Investopedia describes 'transparency' as that which "helps to prevent the corruption that inevitably occurs when a select few have access to important information, allowing them to use it for personal gain".
Transparent advice can help wipe away the murky practices that kept important information hidden