The PIM® program is a customized portfolio management program geared toward your specific investment goals. A Financial Advisor who has met stringent criteria acts as your personal portfolio manager.
Your Financial Advisor guides you through a consulting process to ascertain your investment goals and risk parameters and then uses asset allocation to construct a portfolio of various securities chosen to help meet your financial objectives. As your Portfolio Manager, he or she actively manages your portfolio on an ongoing basis using his or her individual investment style.
The Private Investment Management (PIM) program is designed for investors who:
Your Portfolio Manager will oversee four critical steps in the development of your personal investment plan:
Your investment account through the PIM program is structured to let your Portfolio Manager make investment decisions on your behalf based on your risk tolerance and financial objectives.
When selecting the securities for your portfolio, your Portfolio Manager conducts a detailed analysis of companies, industries, and overall economic conditions. In managing the account, your Portfolio Manager constructs an asset allocation strategy based on your stated financial objectives. The construction process attempts to maximize returns while minimizing unnecessary risk to the overall portfolio.
Your Portfolio Manager can utilize the resources of an array of research analysts who have the skills and tools to help you meet your financial goals. When constructing your portfolio, your Portfolio Manager can draw upon the research capabilities of Wells Fargo Advisors and its affiliates, as well as those of correspondent research firms to whom Wells Fargo Advisors subscribes.
By appointing experienced investment professionals to provide you with sound investment advice, manage your portfolio, and rebalance your investment mix when necessary, you free yourself from the time-consuming task of choosing and actively monitoring your investments. After allocating your investments, your Portfolio Manager manages your portfolio, monitors the markets, and tracks your performance. As part of this process, your Portfolio Manager can help ensure that your portfolio remains invested in appropriate financial instruments based on your current needs and objectives.
The PIM program gives you the added benefit of your Portfolio Manager’s personalized service. By having your Financial Advisor act as your Portfolio Manager, you have the advantage of working with someone who can be intimately acquainted with your financial goals and concerns and with whom you have already established a one-on-one working relationship. In short, you're dealing with someone you know and trust. There's no need to spend your time bringing a portfolio manager “up to speed” on your financial goals.
The criteria for entry into the PIM certification program are more stringent than most other programs Wells Fargo Advisors offers. The full process to obtain the PIM designation can take 60 days to complete and includes a three-step process. The first step is meeting basic eligibility requirements, which include a minimum of two years' experience as a portfolio manager, five years of industry experience, successful completion of various securities exams, and approval of branch and regional managers. Only then can a Financial Advisor complete an application, which includes questions covering investment style, strategy, philosophy, and research methods. Once approved, the Financial Advisor must complete advanced training, including an ethics exam, proxy exam, and an advanced 40-hour portfolio management training course. Less than 10 percent of the firm’s Financial Advisors have met the criteria to act as PIM Portfolio Managers.
As each Private Investment Management (PIM®) program, account is individually managed, construction and ongoing management of portfolios may vary from those discussed in this Philosophy Statement.
There is no assurance that any investment strategy will be successful.
All investing involves risk, including the possible loss of principal.
Fees for the PIM program include advisory services, performance measurement, transaction costs, custody services and trading. Fees are based on the assets in the account and are assessed quarterly. There is a minimum fee of $250 per calendar quarter to maintain this type of account. The fees do not cover the fees and expenses of any underlying packaged product used in your portfolio. Advisory accounts may not be suitable for all investors. During periods of lower trading activity, your costs might be lower if our compensation was based on commissions. Please carefully review the Wells Fargo Advisors advisory disclosure document for a full description of our services, including fees and expenses. The minimum account size for this program is $50,000.
Asset allocation and diversification are investment methods used to help manage risk. They do not guarantee investment returns or eliminate risk of loss including in a declining market.
Advisory products are not designed for excessively traded or inactive accounts and are not suitable for all clients. You must have a reasonable basis to believe that the specific program, investment manager or strategy you recommend is suitable for the particular client based on that client’s investment profile, which takes into account, among other things, the client’s investment objectives, investment experience, time horizon, liquidity needs and risk tolerance. You and your client should carefully review the Wells Fargo Advisory Disclosure Document associated with the program for a full description of our services, including fees and expenses and those fees or expenses that may be excluded. The minimum account size for these programs is between $25,000 and $2,000,000 depending on the program or strategy selected. If the program involves mutual funds or exchange-traded funds, your clients should consider that product’s investment objectives, risks, charges and expenses carefully before investing. Prior to recommending and opening advisory program accounts, Financial Advisors must be properly registered in their place of business state.