schooner

MACDOUGALL FINANCIAL COUNSELING, LLC

HISTORY OF THE FIRM

 

   


 

 

The firm was founded in 1988 by Mr. Douglas Schofield and was known as Schofield Financial Counseling until 2006 when Mr. MacDougall joined. Mr. Schofield has since withdrawn from active management although he retains a number of Trustee positions and consults with Mr. MacDougall on a number of client accounts. Broadly speaking our firm provides comprehensive financial advice and administrative services to families and individuals. Usually we charge a flat fee for our service, based purely on our estimate of the complexity of the client's situation and the time we expect to spend on implementation. The fee is not based on the client's assets. Our investment strategy is to use no-load mutual funds to build a diversified portfolio that spans both the geographic and capitalization spectrums. Currently we look to place between 7-10% in small cap funds, 20-30% in international funds, about 10% in "alternative" investments meaning sector funds, emerging markets, etc., and the remaining about 50-60% in US funds divided equally between growth and value and mid and large cap. This is just your equity allocation and to this we add between 10-30% in fixed income depending on your individual age and risk tolerance. We shift these allocations around but never to zero for we don't believe we can call the turns in the market. We run our own fund screens looking for consistent top quartile returns, longevity of management, and reasonable expenses. The funds are monitored on a quarterly basis and every 6 months we produce a report for all clients showing how their funds have performed over the latest 6 months, 1, 3, & 5 year periods. We adjust our growth versus value allocations on a regular basis for these investment styles have a long record of one or the other being 'in vogue'. For custody of our client's assets, we use both TD Ameritrade and Fidelity for both are excellent discount brokers, their leverage is nominal, and most importantly they are not an investment bank and do not trade on their own account. We have several 401K type of arrangements at TDA where we handle the investments for different participants and the Plan Administrator handles the contributions and regulatory requirements. Our goal is to outperform the S&P 500 at the 3 & 5-year periods and to manage the portfolio for total return (i.e. income and capital gains). In total we have about 80 clients most of all of whom have been with us for more than a decade. Feel free to call or email us with any specific questions.

 

Assets under Management: TD Ameritrade=$220MM; Fidelity=$30MM. Overall mix about 75% equities and 25% fixed income.

Trusts: 40+revocable and irrevocable trusts. For all of these we handle the investments and for about half we handle the distributions, all federal/state tax reporting and general administration. We also manage charitable annuity trusts (CRAT's) and unit trusts (CRUTS).

Foundations: 8 Private Foundations. We select with other trustees the gift recipients. We handle all the investments, distributions, bookkeeping, and tax filings.

 

 

Homepage