wiseradvisor

Michael Reid, CFA
Exchange Capital Management, Inc.

Tel: (734) 761-6500
303 Detroit Street
Suite 203
Ann Arbor, MI 48104

Financial Planning | Retirement Income | Investment Counsel


About Exchange Capital Management, Inc.

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.


General Information

Firm Start Year:   1989
No.of Employees:   5-9
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:   Individual Investors, Businesses, Non-Profit Organizations


Services

Investment Types:   Exchange Traded Funds (ETFs), Executive Stock Options, Municipal Bonds, Stocks, Mutual Funds, Bonds
I can meet clients in the following ways:   Via email, At my office, Via phone, At your office, At your home


Qualifications & Memberships

Financial Organization Memberships:   Financial Planning Association (FPA), CFA Institute


Firm Information

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


Compliance

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%


Board Positions

Organization:  Catholic Social Services of Washtenaw County  Ann Arbor, Michigan
Position :  Chairman
Duration :  December 2008-Currently holding

Organization:  YMCA  Ann Arbor, Michigan
Position :  Director
Duration :  June 1997-November 2001

Organization:  Ann Arbor Amateur Hockey Association  Ann Arbor, Michigan
Position :  President
Duration :  May 2010-August 2012

Organization:  Ann Arbor Local Development Finance Authority  Ann Arbor, Michigan
Position :  Chairman
Duration :  June 2001-July 2008

Organization:  City of Ann Arbor Michigan  Ann Arbor, Michigan
Position :  City Councilmember
Duration :  November 1999-November 2002


Education

Bachelors - General Studies (Economics, Political Science)  University of Michigan - Ann Arbor, Michigan
September 1978-April 1982



Faqs

  • Do you have a customer satisfaction or refund policy? The advisory agreement is open-ended and has no fixed minimum. It may be terminated by either party on 30 day notice. Any unused portion of the quarterly fee is refunded.
  • What are your qualifications? What is your education background? Chartered Financial Analyst (CFA) awarded 1993. BA University of Michigan 1982
  • What is your approach to financial planning? Focus on providing financial solutions tailored to the specific circumstances of each clients. Specific strategies are calibrated to maintain asset sufficiency or close gaps when current state analysis reveals shortfalls.
  • What services do you offer? Discretionary portfolio management.
  • How many clients do you currently manage? Exchange Capital Management has 155 clients with assets working in taxable savings, trust accounts, IRA's, and 401(k) rollovers.
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Michael Reid, CFA

Michael Reid, CFA

Managing Director

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.

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My Services

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.


Portfolio Management

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 Management & Advice

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.


My Team

Kevin McVeigh, CFA
Kevin McVeigh, CFA Managing Director
Mr. McVeigh is Managing Director and Senior Co‐Portfolio Manager for Exchange Capital Management, Inc. He graduated cum laude from Villanova University in 1983 and earned his MBA from Michigan State University in 1986. Prior to joining Exchange Capital Management, Inc. in 1995, Mr. McVeigh was employed as Vice President of Investments at Swanson Capital Management in Ann Arbor, MI. While at Swanson, Mr. McVeigh oversaw equity trading and served as a member of the investment policy ...more

Tom Costigan, CFP
Tom Costigan, CFP Portfolio Manager
Mr. Costigan is a Portfolio Manager for Exchange Capital Management, Inc. He graduated from the Eli Broad School of Business Administration at Michigan State University in 2003. Prior to joining Exchange Capital Management, Inc. in 2006, Mr. Costigan held positions as a research analyst at Metropolitan Life Insurance Company and EMC Insurance Company.

Chris Georgandellis, CFA
Chris Georgandellis, CFA Portfolio Manager
Mr. Georgandellis is a Portfolio Manager at Exchange Capital Management, Inc. He attended the U.S. Naval Academy from 1995-98 and graduated with a Bachelors degree in Computer Science from the University of Michigan in 2001. Mr. Georgandellis began his career as an equity trader with UBS Investments at their U.S. headquarters in Stamford, CT. Prior to joining Exchange Capital Management, Inc. in 2013, Mr. Georgandellis served as an intellectual property analyst with 284 Partners, and in ...more

Office Hours

wiseradvisor-balck-li-img Mon. 8:30 AM - 5:00 PM
wiseradvisor-balck-li-img Tue. 8:30 AM - 5:00 PM
wiseradvisor-balck-li-img Wed. 8:30 AM - 5:00 PM
wiseradvisor-balck-li-img Thu. 8:30 AM - 5:00 PM
wiseradvisor-balck-li-img Fri. 8:30 AM - 5:00 PM

Communities Served

Ann Arbor Brighton
Chelsea Dearborn
Dexter Northville
Novi Plymouth
Saline Ypsilanti
Monroe Co.

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