Common questions.
Answers to questions we hear most from prospective and current clients. If something is not addressed here, contact us directly.
Who are your representative clients?
Many of our clients have given us permission to use their endorsements and we do so carefully. Please contact us to obtain our endorsements.
What is the expected annual portfolio turnover for the Large Cap Growth strategy?
We would expect annual turnover in the 3%-6% range. Historically, turnover has averaged less than 3%.
What steps do you take in the Large Cap Growth Strategy to minimize the realization of capital gains for taxable accounts?
Our low turnover is the primary step. Additionally we pay attention to available lots to sell, and look for opportunistic tax loss harvesting (considering opportunity risks associated with wash sales rules).
Describe the tax efficiency of the Large Cap Growth strategy.
The Large Cap Growth strategy is managed for capital appreciation. Minimizing taxable gains is not the primary goal of the strategy, but is taken into consideration. Historically, the portfolio has had favorable tax efficiency because stocks sold for a gain have been held longer that a year (taxed at the 15% rate) and stock sold for a loss are oftentimes short term.
Is Mercury a fiduciary?
Yes. As a registered investment adviser, Mercury is legally obligated to act in the best interest of our clients at all times. We do not receive compensation from third parties for recommending any product, security, or service. Our Form CRS Relationship Summary describes our fiduciary obligations and any relevant conflicts of interest in plain language.
How is performance measured and reported?
We measure portfolio performance against the S&P 500 Total Return Index as our primary benchmark, reported on a net-of-fee basis. Clients receive quarterly statements detailing holdings, returns, and attribution. We also publish aggregate composite performance on the Performance page of this site, updated quarterly.
Where are client assets held?
Client assets are held in custody at Charles Schwab, an independent, SIPC-insured custodian. Mercury does not take custody of client funds. You receive statements directly from the custodian and can view your account online at any time. This structure ensures an independent check on our reported performance figures.
How do I open an account?
The first step is a introductory conversation to confirm that Mercury is the right fit for your situation and goals. From there, we will send account opening documents electronically through our custodian. The process typically takes five to ten business days from signed agreements to funded account. Reach out through the Contact page to get started.
Still have questions?
We are happy to speak with you directly. Most questions are best answered in a brief conversation.