Exchange Capital Management is an independent fee-only SEC Registered Investment Advisor located in Ann Arbor's historic Kerrytown district.
Founded in 1989, we specialize in financial planning and implementing customized client solutions using individual stock and bond positions. Importantly, we believe investment success is grounded in a thorough understanding of your specific goals and the consistent application of a proven investment discipline.
Unlike many advisors, we adhere to a strict fiduciary standard of care...and we back that commitment in writing:
1. We will always put your interests first ahead of our own, that of our firm, and our employees. As defined by federal law, we will act as a fiduciary.
2. When selecting investments, we will act as your agent; seeking the best investments at the best prices at all times.
3. While neither Exchange Capital nor any other firm can promise superior investment returns, we will provide impartial advice and act with skill, care, diligence and the exercise of sound judgment in the management of your investment account(s).
4. We will provide full and fair disclosure of all important facts, including a clear description of the advisory fee we charge, as well as any fees we may pay to others on your behalf.
5. We will not receive any fee or commission from any product or service we utilize on your behalf with regard to your investment account(s).
6. We will fully disclose and fairly manage, in your favor, any unavoidable conflicts of interest.
|Firm Start Year:||1989|
|States Licensed in:||MI OH|
|Number of Years with Current Firm:||24|
|Work Experience:||1989 - Exchange Capital Management, Inc. 1987-89 Heber, Fuger, Wendin, Inc. 1983-87 Kidder, Peabody & Co.|
|I work with the following types of clients:||Non-Profit Organizations, Individual Investors, Businesses|
|Advisory Services Provided:||Financial Planning for Individuals, Wealth Management, Retirement Planning, Portfolio Management|
|Investment Types:||Stocks, Municipal Bonds, Executive Stock Options, Exchange Traded Funds (ETFs), Bonds, Mutual Funds|
|I can meet clients in the following ways:||At your office, Via Email, At my office, At your home, Via Phone|
Qualifications & Memberships
|Financial Organization Memberships:||CFA Institute, Financial Planning Association (FPA)|
|Firm's Number of Clients:||185|
|Firm's Number of Planning Clients:||185|
|Firm's Number of Managed Clients:||185|
|Assets Managed by Firm:||$290,000,000|
|Registered Investment Advisor:||Yes|
|Investment Advisor Representative:||Yes|
|I am an acknowledged fiduciary:||Yes|
|Compliance Disclosures in Last 5 years:||I have a clean record|
|Criminal Disclosures in Last 5 years:||I have a clean record|
Compensation and Fees
|Fee Structure:||Fee Only|
|Minimum Portfolio Size for New Managed Accounts:||$500,000|
|Compensation Methods:||Based on Assets|
|Fee % Based on Assets:||1.15%|
|Organization:||Catholic Social Services of Washtenaw County Ann Arbor, Michigan|
|Duration :||December 2008-Currently holding|
|Organization:||YMCA Ann Arbor, Michigan|
|Duration :||June 1997-November 2001|
|Organization:||Ann Arbor Amateur Hockey Association Ann Arbor, Michigan|
|Duration :||May 2010-August 2012|
|Organization:||Ann Arbor Local Development Finance Authority Ann Arbor, Michigan|
|Duration :||June 2001-July 2008|
|Organization:||City of Ann Arbor Michigan Ann Arbor, Michigan|
|Position :||City Councilmember|
|Duration :||November 1999-November 2002|
|Bachelors - General Studies (Economics, Political Science)||
University of Michigan - Ann Arbor, Michigan
September 1978-April 1982
Mr. Reid is Managing Director and Senior Co‐Portfolio Manager for
Exchange Capital Management, Inc. He earned his Bachelors degree
from the University of Michigan in 1982 and has served in a variety
of investment and financial capacities since graduation. Prior to
founding Exchange Capital Management, Inc. in 1989, Mr. Reid served
as Vice President of Investments at Heber Fuger Wendin, Inc. in
Birmingham, MI. While employed at HFW, he managed institutional
fixed income portfolios for property & casualty insurance
companies, commercial banks, and municipalities. Mr. Reid started
his professional career in 1983, holding positions with the Retail
Sales Division and Corporate Services Group at Kidder Peabody & Co.
in Detroit, MI.
Financial Planning for Individuals
Exchange Capital Management begins every new relationship by developing a comprehensive financial plan. Before finalizing an individually prepared financial plan (which is accompanied by a written investment policy statement) and implementing a specific investment strategy, a senior adviser will discuss the suitability of various alternatives within the context of your (i) liquid net worth, (ii) current annual earnings, (iii) savings rate, (iv) periodic distribution or liquidity needs, (v) planned gifts to family members or charitable institutions, (vi) significant cash flows from sale of a business, inheritance, real estate or other purchases, (vii) executive stock options and restricted stock holdings, (viii) current and deferred tax obligations, and (ix) your estate plan.
Exchange Capital Management, Inc. employs fundamental security and credit analysis to construct diversified investment portfolios using individual stock and bond positions. This approach to security selection and portfolio management is based upon an appraisal of the worth of an entire company considering objective fundamental factors such as revenue growth, asset turnover, pre-tax margins, free cash flow, return on capital, tax rates, debt‐to‐equity ratios, and subjective variables including Exchange Capital Management, Inc.s estimate of growth and dividend paying ability as well as our opinion of management. Charts are used for historical reference and to indicate trends, but are not relied upon as predictors of price appreciation or depreciation. Exchange Capital Management, Inc. uses as its principal source of information materials prepared by companies, such as annual reports, and documents filed with regulatory agencies, and SEC Form 10‐Ks, 10‐Qs, or 8‐Ks. In addition, Exchange Capital Management, Inc.s portfolio managers subscribes to or have access to a wide range of statistical services and financial publications, including independent external research prepared by others. Exchange Capital Management, Inc. also seeks to have contact with the management of the companies in which it invests through participation in conference calls.
Investment Advice & Management
Exchange Capital Management, Inc. obtains discretionary authority to transact business as part of the investment advisory agreement. In all cases, discretion is exercised in a manner consistent with the stated investment objectives and written investment policy statement for each account. Client advisory agreements are open ended (having no fixed termination date) and may be cancelled without penalty at the option of either party upon 30 days written notice.
Kevin McVeigh, CFA Managing Director
Tom Costigan, CFP Portfolio Manager
Chris Georgandellis, CFA Portfolio Manager
|Mon.||8:30 AM - 5:00 PM|
|Tue.||8:30 AM - 5:00 PM|
|Wed.||8:30 AM - 5:00 PM|
|Thu.||8:30 AM - 5:00 PM|
|Fri.||8:30 AM - 5:00 PM|