Well, I’ve concluded my search for a new RIA custodian and will make a final decision very soon. I anticipate the transition to be complete by year end. The new firm will offer a more competitive fee schedule, improved technology, and greater personal service. I’m very excited about the future with the new partner. There should be no dropoff in the product offerings or in the execution of trades. Before I make my choice, I do want to ensure one thing is in place–an interface with Morningstar Advisor Workstation, Office Edition. That’s critical as I derive my performance reporting from this subscription. Once I have confirmed this, I will be ready to move forward.
It seems the construction has reduced to a snail’s pace. Originally, I was scheduled to occupy my new quarters on October 1. Then a mid-November date was the target. Now, I’m not sure what the new date will be though it should be this year. If the building isn’t ready to occupy in 2008, the owner will lose some very important tax benefits as a result of Hurricane Katrina legislation. I suppose this gives me a great reason to talk to him about why he might consider hiring me as his advisor.