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Letter to Clients

©2012"Photograph Copyright; Tamar Securities, LLC".

After nearly two decades in the financial services industry, I’m proud to announce the formation of TAMAR SECURITIES, LLC an independent SEC-Registered Investment Advisor (RIA). As of June 11, 2010, I resigned my position as an Executive-Director of Investments with Oppenheimer & Co, Inc. Unfortunately, securities industry protocol prohibited me of advising you of this change in advance.

As you are well aware, my clients are my extended family.  I accompany them during good times and bad times.  My mission has always been to establish a trusted, professional, and secure environment for investments.

Following extensive due diligence, I have selected Charles Schwab Institutional to become the preferred custodian of TAMAR SECURITIES, LLC for our clients’ assets. Schwab Institutional has a pristine balance sheet as measured by its tangible net equity. It provides insurance over and above the standard Federal SIPC coverage per client’s account by Lloyd’s of London. Further, it is considered a leading, unbiased custodial firm on Wall Street. I am mailing you additional information on their financial strength and asset protection under separate cover.

TAMAR SECURITIES, LLC also selected the broker dealer services of Purshe Kaplan Sterling Investments (PKS) for its transactional Fixed Income platform (Non-fee-based asset management). PKS is based in Albany, New York and will clear all of our transactional securities through one of the nation’s most reputable clearing service providers, National Financial Services (NFS). Independent of the bond desk where a fixed income and/or equity transaction takes place, all trades will settle with our firm’s preferred custodian, Schwab Institutional.

Should you choose to carry over your portfolio, TAMAR SECURITIES, LLC would be the advisor of record to direct investments on your account, just as your portfolio is managed by me today. Schwab Institutional would provide all of the necessary custody services that you are accustomed to.

Some of the advantages clients of TAMAR SECURITIES, LLC should expect include the following:

  • . Improved client asset protection (as explained above);
  • .Lower execution costs of Equity, Fixed Income, and Cash management assets.
  • .Improved Bid/Offer pricings of primarily Fixed Income and Cash management products (due to better access to competitively priced products via Schwab Advisor Services, PKS and NFS);
  • . Improved access to Initial Public Offerings (IPOs) through Schwab Advisor Services and their newly established underwriting relationship with JP Morgan Chase.
  • .Increased access to independent research firms, boutique investment managers, hedge fund managers, and other private equity firms that often take pride in their close knit group of investors.
  • .Improved Consolidated Reporting capabilities.
  • .Improved cost control (For Schwab custodians, no account fees, no inactivity fees, no IRA fees, no electronic funds transfer fees, no ATM fees, no fees for stop payments, no fees for copies of checks, no fees to order out certificates, no fees for checking, and reimbursement of all transfer fees).
  • .Improved Transparency: By separating the asset management services from the custody services, clients will gain better insight as to the business cost structure.

Over the years, it has been an honor to be trusted with your hard earned life savings. I never did and I never will take this responsibility lightly. I am confident that this change will better enable me to serve my clients.