Frequently Asked Questions

General

Do you support Custodial/UGMA accounts?
We do support Custodian/UGMA accounts.

Can I open multiple accounts?
You are welcome to open as many accounts as you would like as long as they aggregate to a minimum of $10,000. You may like to open dedicated accounts for each of your savings needs such as buying a house, financing your kids’ or grandkids’ college education, or saving for retirement. Please contact Foliofn for details.

What is the minimum amount required to invest?
Our account minimum is $10,000, which entitles you to a periodically rebalanced, diversified portfolio of common stocks.

Can I transfer my existing IRA?
Yes. Please open an IRA account with Foliofn Investments, Inc. and select the option to transfer an existing account. Complete the information and your IRA will automatically transfer in 5-10 business days.

Can I transfer a portion of an existing investment account?
Yes, we can complete a partial account transfer in one of two ways, however, each method requires some manual effort on your part:

1. You can email us at [email protected] and we will send you a form to fill out that will allow us to transfer assets on your behalf.
2. You can ask your current custodian to split the account from which you want to transfer a part of its holdings into two accounts, with one containing just the assets you intend to transfer. You can then open a new account and fund it by choosing the “account transfer” option and entering the account number of your new account at your old custodian that only contains the contents you want to transfer. We’ll transfer that entire account to your new account.

Where is my money held?
Your assets are held in a brokerage account in your name at Foliofn Investments, Inc. a self clearing broker dealer launched in 1999 by Steven Wallman, a former commissioner of the U.S. Securities and Exchange Commission widely recognized for advocacy on behalf of investors.

How is Catholic Investment Strategies different from other investment companies?
Catholic Investment Strategies comprise a group of portfolio strategies offered by Summit Investment Management, Ltd.  All of these portfolio strategies are intended to adhere to the Investment Guidelines set forth by the US Conference of Catholic Bishops.  Specifically, that means that the portfolios exclude companies that are engaged in practices prohibited by the Guidelines but also that Summit uses a part of the fees it collects to support advocacy efforts to convince the management of other US corporations to change their business practices to more closely conform to Catholic teaching. No money is directly contributed to either the Catholic Church or to any Catholic institution or agency.

Can I roll over a 401(k) account into an IRA?
Yes. To roll over a 401(k) into an IRA, when you open your account choose an IRA account as the type of account you wish to open and select the “rollover” option during the application process. Once your IRA account is open, you should contact your 401(k) provider and instruct them to send a check for the entire value of your 401(k). The check should be made payable to Foliofn Investments, Inc. and should reference your account name and your IRA account number.

Can I make automatic contributions from my bank account?
You can set up an automatic monthly transaction to add money to, or receive money from, your Foliofn account. There is no dollar limit, so you can right size your additions or withdrawals to fit your needs. If you plan to add to your account monthly, you will need to set up an electronic funds transfer from your bank to Foliofn so that the money needed to add to your portfolio is available. If there is not enough money in your Foliofn on the date that you selected for additional purchases, Foliofn will skip the purchase for the current month but continue to try to add to the portfolio in coming months. To make automatic withdrawals, the value of your portfolio must equal or exceed the amount you wish to withdraw. You can change your elections at any time.

What should I think about before I invest?

1. Draw a personal financial roadmap.
2. Evaluate your comfort zone in taking on risk.
3. Consider an appropriate mix of investments.
4. Be careful if investing heavily in shares of employer’s stock or any individual stock.
5. Create and maintain an emergency fund.
6. Pay off high interest credit card debt.
7. Consider dollar cost averaging.
8. Take advantage of “free money” from employer.
9. Consider rebalancing portfolio occasionally.
10. Avoid circumstances that can lead to fraud.

Fund Questions

How can I check my account balance?
If you have invested through Catholic Values Direct, you can logon to Foliofn 24/7 to check on your account. If you have elected to utilize the services of a Summit Investment Management adviser, you may still be able to check electronically depending on the custody arrangements for your portfolio.

Who should I contact if I have questions about my account?
Depending on the issue, you can call Summit Investment Management or Foliofn.

What is the level of risk?
Your risk will depend on your investment mix and the individual securities that make up the components of that mix. As a result, risk will vary from investor to investor. When investing, there is always an element of risk and the chance that you will lose some of your investment.

How do you weigh companies against the USCCB Guidelines?
The USCCB Investment Guidelines state that as part owners of a company, Catholic shareholders in U.S. corporations must see to it that invested funds are used responsibly. These shareholders should not serve as passive actors in the companies in which they invest, but rather utilize their rights and influence to actively encourage firms to serve the common good.

Will I receive monthly balance statements?
Monthly statements are available via Foliofn a few days after the end of the month.

How do I adjust my fund?
Investors utilizing Catholic Values Direct can adjust their portfolios through the Foliofn portal. Investors who have chosen to use a Summit Investment Management adviser should contact their adviser.

How can I get financial advice?
Contact a Summit Investment Management advisor at (414) 291-4488 or (800) 518-0945.

Administrative Questions

How do I change my name?
The Foliofn site contains the answers to all account maintenance questions at: https://www.folioinvesting.com/folioinvesting/help/account-settings/

Legal Q&A

Is Catholic Investment Strategies affiliated with any other companies?
Catholic Investment Strategies is a group of portfolio strategies offered by Summit Investment Management, Ltd. Summit Investment Management, Ltd. is a Registered Investment Adviser (RIA). Summit is the originator and manager of these strategies.

Is Catholic Investment Strategies a broker-dealer or custodian?
No, Catholic Investment Strategies is a group of portfolio strategies offered by Summit Investment Management, Ltd. Summit Investment Management, Ltd. is a Registered Investment Adviser (RIA). It is not a broker-dealer nor a custodian. Summit Investment Management, Ltd. will never have custody of your funds.

What are the disclosures?
Please refer to: https://catholicinvestments.com/disclosures/

How do I know I’m visiting a secure site?
Our custodian, FOLIOfn, works hard to protect your privacy. For more information, please see: https://www.folioinvesting.com/folioinvesting/important-disclosures/privacy-security/

Is the information that I provide over the Internet secure?
Please refer to: https://catholicinvestments.com/disclosures/

How is my privacy protected?
Please refer to: https://catholicinvestments.com/disclosures/

Post from: Insights