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Key Points of Differentiation


Brokerage Firm

Multi-Family Office

Compensation Structure

All revenues received by The CAPROCK Group are from our clients in a single, transparent fee

Revenues generated from commissions, selling concessions, spreads on trading, placement fees and/or planning fees

Revenues may include fees on proprietary products, referral fees and/or placement fees

Dynamic Modeling

All processes and tools are dynamic, permitting
incremental decision making; clients can interact and manipulate tools for real-time decision making

If done at all, typically a snapshot in time based upon static information and historical portfolio inputs

Varies based upon sophistication and integration of modeling and reporting capabilities

Backgrounds & Expertise

16 years average investment experience at the Partner Level; practical investment experience across all six major asset classes

Sales focus; typically lack investment management experience; knowledge typically limited to liquid asset classes

Often products of brokerage world; typically lack investment management backgrounds and asset class experience

Management of Entire Balance Sheet

Ability to manage, report and advise on all assets associated with a client’s balance sheet

Assets must be held at the brokerage firm to be
managed and reported on

May lack experience in certain assets and/or transactions; typically limited reporting capabilities

Portfolio Construction

Dynamic multi-phased asset allocation combined with Lifetime Discounted Cash Flow Model; after-tax portfolio inputs

Basic asset allocation modeling typically focused on pre-tax returns; no liability or spending integration

Basic asset allocation modeling typically focusing on pre-tax returns; no liability or spending integration

Portfolio Execution

Six asset class portfolio diversification; emphasis on downside protection, after-tax return focus and liquidity management

Execution typically limited to captive universe of approved managers and proprietary investments

Varies based upon sophistication and backgrounds of principals

Investment Platform

Open architecture – managers and custodial
relationships; negotiated fees and minimums

Captive platform limited to advising only on assets for which they have custody and control

Varies based upon reporting capabilities, manager relationships and custodial arrangements

Reporting Capabilities

Ability to report on every asset regardless of location or type; Monthly Balance Sheet and custom Quarterly Performance Report

Limited to assets held at the brokerage firm;
reporting package typically limited to overall
firm specifications

Typically limited to custodial feeds; rarely includes ability to report on private investments;
typically quarterly


Proprietary Asset Allocation Model, Lifetime Discounted Cash Flow Model, Balance Sheet and Reporting Engine all built by The CAPROCK Group

Limited to availability from brokerage firm;
zero to limited ability to customize

Typically limited to off-the-shelf, non-proprietary products with limited or no ability for customization

Advisor Coordination

Coordination of entire advisor network;
coordination of data flow between tax, legal and estate professionals; family meetings

Limited ability to provide advice on tax, legal and estate planning; often in direct competition with client’s other advisors for product sales

May or may not provide these services without additional fees

Copyright 2016 The CAPROCK Group, all rights reserved. The CAPROCK Group is an SEC Registered Investment Adviser. This communication is not a solicitation or offer to sell investment advisory services except in states where we are registered or where an exemption or exclusion from such registration exists. All written content is for informational purposes only and may not constitute a complete description of available investment services. Investment in securities involves the risk of loss. Past performance is no guarantee of future returns. Cappadocia Hot Air Balloon