The Tennessee Investment Advisory Agreement of Equity Strategies Fund, Inc. and EPSF Advisors, Inc. is a legally binding contract that outlines the relationship between Equity Strategies Fund, Inc. (the "Fund") and EPSF Advisors, Inc. (the "Advisor"). This agreement governs the provision of investment advisory services by EPSF Advisors to the Fund, ensuring compliance with applicable laws and regulations. Under this agreement, EPSF Advisors agrees to provide professional investment advice to the Fund, managing its portfolio in accordance with the Fund's investment objectives, strategies, and restrictions. The Advisor will utilize its expertise and knowledge to select suitable securities, monitor the portfolio's performance, and make necessary adjustments to achieve optimal investment results. This investment advisory agreement outlines various important aspects, including the compensation structure, termination provisions, and confidentiality obligations. The compensation of EPSF Advisors may consist of a management fee based on a percentage of the Fund's assets under management or a performance-based fee, commonly referred to as an incentive fee, depending on the specific terms agreed upon in the agreement. There are several types of Tennessee Investment Advisory Agreements that can exist between Equity Strategies Fund, Inc. and EPSF Advisors, Inc., which may vary based on factors such as investment strategy, portfolio composition, and fee structure. Some common types of investment advisory agreements include: 1. General Advisory Agreement: This is a comprehensive agreement that covers all aspects of the advisory relationship between the Fund and EPSF Advisors. It outlines the responsibilities of both parties and provides a detailed framework for managing the Fund's investments. 2. Fixed Management Fee Agreement: This type of agreement establishes a fixed management fee payable by the Fund to EPSF Advisors, usually calculated as a percentage of the Fund's assets under management. The fee remains the same regardless of the Fund's investment performance. 3. Performance-Based Fee Agreement: In this type of agreement, EPSF Advisors' compensation is tied to the Fund's performance. The Advisor receives a fee based on a pre-determined formula that accounts for the Fund's investment returns, often referred to as a "high watermark" provision. 4. Hybrid Fee Agreement: This agreement combines elements of both the fixed management fee and the performance-based fee models. EPSF Advisors may receive a base management fee and a performance-based fee, offering a dual compensation structure. It is important for both Equity Strategies Fund, Inc. and EPSF Advisors, Inc. to carefully review and understand the terms and conditions mentioned in the Tennessee Investment Advisory Agreement. This document serves as a crucial foundation for establishing a mutually beneficial relationship and ensuring clear communication and expectations between the Fund and its investment advisor.
Tennessee Investment Advisory Agreement of Equity Strategies Fund, Inc. and EQSF Advisors, Inc.
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An advisory agreement is the main document used to memorialize, in writing, the relationship between the Registered Investment Advisor (?RIA?) and client. Among other things it generally outlines the services to be offered, the fees to be charged, and the overall expectations of the RIA/client relationship.
The act defines an investment adviser as "any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who for compensation and as part of ...
Transactions Deemed an Assignment Section 202(a)(1) (15 U.S.C. § 80b-2) of the Advisers Act defines the term ?assignment? to include any direct or indirect transfer of an advisory contract by an adviser or any transfer of a controlling block of an adviser's outstanding voting securities.
It is deemed to be an assignment whenever a majority interest in an adviser changes hands. Pledging a client's contract is considered to be an assignment.
(1) ?Assignment? includes any direct or indirect transfer or hypothecation of an investment advisory contract by the assignor or of a controlling block of the assignor's outstanding voting securities by a security holder of the assignor; but if the investment adviser is a partnership, no assignment of an investment ...
Tennessee requires a balance sheet from every RIA. Also, RIAs with custody have to submit audited financial statements. In Tennessee, advisors must have one of the following professional designations to operate in the state: Series 65, Series 66 and Series 7, CFP, CFA, CIC, ChFC, or PFS.
They provide clear guidelines of what is expected of each party in order for your needs to be met. Investment advisory agreements typically include terms related to the advisors fee structure, investment methodology, level of risk a client is willing to take, and more.
The act stipulates that anyone providing advice or making a recommendation on securities (as opposed to another type of investment) is considered an adviser. Individuals whose advice is merely incidental to their line of business may not be considered an adviser, however.