April 27, 2018
“He rocks in the tree tops all day long
Hoppin’ and a-boppin’ and singing his song
All the little birdies on Jaybird Street
Love to hear the robin go tweet tweet tweet
By Leon Rene
It’s been a long, cold winter. But finally, we’re seeing signs of spring—birds chirping, daffodils blooming!
But bursts of activity aren’t limited to robins and gardens right now. Indeed, if you think you’ve observed a lot more action in the stock market lately compared to 2017, you’d be absolutely correct. Even though the U.S. market is only in its second quarter of the year, it has seen more than three times the sharp gyrations—moves of 1% or more in a given day—than for all of 2017. Volatility has returned, as we suggested it might in our January newsletter. This is precisely why we are always focused on investment returns, and just importantly smoothing out those returns, to ensure you meet your goals.
Aside from what’s happening in the markets, there’s also been a lot of exciting activity at Cribstone Capital. As a result, we are using this quarter’s newsletter to share with you important and terrific updates. Our goal at Cribstone is to provide you with the best experience possible. This not only includes the service you receive directly from our team, but also how we communicate information about your accounts.
New Statements and Online Portal:
By way of feedback, many of you have shared that Cribstone’s quarterly statement and online portal are useful, but quite complicated to both understand and use. This prompted us to search for a better solution that would have broader appeal and functionality for those of you who want to view your account values, activities and performance both on a paper statement and online. We completed an in depth due diligence process in late 2017, during which we evaluated multiple providers, and concluded that Tamarac Advisor View offers significant enhancements to the Envestnet quarterly reports as well as the online client portal.
Over the last three months, we have migrated all historical data on your accounts from Envestnet to Tamarac Advisor View. We are certain you will agree that Tamarac Advisor View has much more functionality and clarity in terms of how information about your accounts is presented, particularly when it comes to asset allocation, transactions, holdings and performance.
Tamarac Advisor View:
Enclosed you will find your new quarterly report generated from Tamarac Advisor View. We have selected a series of reports that we think most of you would want and placed them into the statement following a logical order. If there is something that’s missing, or a piece of information/data that you would like to see (say, transactions, for example) we can easily add that to your quarterly statement. Also, if you would like the order of reports changed or to have something removed, we can very easily address it. Please communicate if we have hit the mark, or if you would like any modifications. With Advisor View, reports can be tailored to provide exactly what you would like to see, in the order that you would like to see it. These settings can be unique for each family that we work with, so we’d like your feedback and have enclosed a survey with a postage paid envelope for you to tell us what you think, and whether you would like any modifications.
In addition, you have had direct online access to Envestnet through a client portal on our website, www.cribstonecapital.com. We are updating the portal on our website to access Tamarac Advisor View. The vast majority of you have not been using Envestnet online, at least not on a regular basis. Rather than being organized through multiple menus with lots of reports, Tamarac Advisor View provides all the information you might want directly from a dashboard. You can click on items within the dashboard for greater detail, or to change time frames, but there is no need to navigate through various menu systems. We have had a few of you testing this site for us, and the feedback thus far has been extremely positive.
Tamarac Advisor View also offers both mobile and tablet, in addition to desktop access. Within sixty days, we will release a Cribstone Capital Management ‘App’ that, for those that are interested, will provide Tamarac Advisor View access through your phone or tablet. So, in order to get the maximum benefit from this significant upgrade, please let us know how you would prefer to learn how to best use Tamarac Advisor View online for your purposes (see training options below). We’ve also included screen shots of the Tamarac Advisor View dashboards.
If you would like to access Tamarac Advisor View via the web, the timeline for getting you up and running is as follows:
- If we have not already done so, starting on May 3 we will email you a link to access Tamarac Advisor View with a password that is valid for 72 hours. If your link expires, please let us know and we will immediately send you another link.
- Your email address is your user ID and, when you first log in, you will be asked to create a new password. There is a “Help” tab on the portal to help you navigate the site.
- Please let us know what your preferred method of training via the attached survey. Once we hear from you, we will follow up with you either by phone or email to schedule your training (ideally by the end of May).
The whole purpose of this upgrade is to improve transparency with your accounts, and to help you better understand how they are progressing. As a result, we are really counting on you for your feedback, both in terms of what else you would like to see as well as what is not necessary. Please expect to hear from us to solicit your feedback and/or suggestions.
In the meantime, please remember that you can access your account information online through the Schwab Alliance Client Portal as well. If you have not signed up for Schwab online access and would like to, please let us know right away so we can send you an activation email that streamlines the process. Please call us at 207-844-2000 or email Tina or Maranda at email@example.com or firstname.lastname@example.org.
As with Tamarac, there is quite a bit of optionality to Schwab as well. We have heard from many of you that Schwab sends out too much paper. That is easy to fix if you’d prefer to have even just some of your Schwab documents set up to be delivered electronically. For example, you can have trade confirmations and shareholder materials all set up for electronic delivery, while monthly statements and tax documents can be delivered by mail. We are happy to help you with setting up your preferences for document delivery through Schwab Alliance. Again, there are questions about Schwab in the survey as well so that we can better service your accounts.
As always, please don’t hesitate to contact us with any questions or concerns.
The Cribstone TeamShare