thanks so much!
I will look at the Vanguard fund, and play with the spreadsheet! I love you all!
We are currently working on an investment policy statement.
I think the majority of the group are interested in the socially responsible investing to keep it in line with our mission. I am starting to think intergenerational, but I think I am ahead of the rest of the group.
We will definitely check with our CPA about the investment taxes. I was also wondering about this.
I did check the reference provided by company X, and I read the materials more closely as well. The ED and I both have some questions. The reference was very good and I do think company x is honest and will stand by their fiduciary duty. The reference did have a conflict of interest, as he has investments with company x too. In my opinion this is a good sign, as well as a potential bias because he needs to believe company x is competent, and working with integrity. That said, the reference initially started working with company x when the company was volunteering. Company x only became a consultant years later after an unexpected windfall made the reference's group need more financial work than a volunteer could reasonably do. The reference was not affiliated with company x at that time, and only became familiar with them through their joint volunteer work. So I do think this is a good reference.
Vanguard also responded and they only use their non-profit advising with 2Million or more investment. But they did suggest the concierge service it our investments are lower. But we would need to manage them ourselves. I feel like that could be ok, but I'm not sure others will be on board.
Company x is a fiduciary, and doesn't sell any hidden fee products. Neither does their network they are affiliated with. They then go with a broker of Schwab or Folio. Supposedly they have access to lower fees than if we approached these companies ourselves. But company x is a financial advisor, CFP, CPA, as well as investment manager. We would be paying for their advice and management, more than anything. This may make sense for us as a group. Even if it does cost money.
I am going to have a follow up meeting with company x, and request the remainder of the references I had originally asked for. I will keep looking for a comparable company for comparison.
And I will check out the other above stuff too. Any further thoughts anyone has are very welcomed!