|
|
Retention Rate is calculated on an average annual basis. For the
purposes of our calculation, we exclude clients that were lost due to
death, incapacitation or an extreme departure from the advice we
offered. Below we provide a table showing client departures over the last 5 years.
|
Year |
Number |
Reason for
Departure |
|
2004 |
0 |
|
|
2005 |
1 |
Divorce led to one party's discomfort in having both spousal
accounts handled by our firm. |
|
2006 |
0 |
|
|
2007 |
1 |
Client
was incapacitated due to illness, resulting in a transfer of
assets to the son's management. |
|
2008 |
1 |
Unknown – Client
has not responded to FIC Capital’s attempts to contact. Client had a
history of market-related anxiety and ended the relationship at the peak
of the U.S. financial crisis. |
|
2009 |
1 |
Client’s decision reflects
market-related anxiety. We continue to have a positive relationship with the former
client and continue to manage the spouse’s account. |
|
|
