Private Client Group. Bringing peace of mind to life

Transcription

1 Private Client Group Bringing peace of mind to life

2 Capital One s Private Client Group provides comprehensive and integrated solutions to businesses and their owners, wealthy individuals and families, endowments, foundations, and other organizations. Clients benefit from our acute, individualized focus on their unique needs, a focus that helps them achieve their personal and institutional financial goals. Our locally based teams deliver world-class service where you live and work. Our dedicated team of investment professionals and relationship managers provide access to our comprehensive suite of planning tools and investment products, designing solutions for you or your business. Our utmost commitment is to client advocacy, tailoring comprehensive solutions not merely commercial financial products and applying a consultative, problem-solving approach to help each client meet their unique goals. Capital One has been providing investment management services for more than 70 years, all the while growing a reputation of accessibility and excellence. And, because we re part of a trust-empowered entity, you re assured that Capital One s Private Client Group is held to the highest fiduciary standards.

3 Personal Client Services Products and services are offered by Capital One, NA or one of its affiliates or subsidiaries. Capital One Bank is a trade name of Capital One, N.A. and does not refer to a separately insured institution. Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency PCGPCS01 4/09

4 Personal Client Services You ve worked hard to achieve your financial goals. Now it s time to plan for the protection and preservation of your assets. Building on Capital One s tradition of over 70 years in trust services, Personal Client Services, a division of Capital One s Private Client Group, offers comprehensive services to assist affluent clients in managing their personal and family business activities. Including: Investment Management Trust Administration Real Estate and Mineral Management Estate Settlement Customized Investment Management Your investments are a reflection of many factors your financial and personal goals, your short and long-term objectives, and your risk tolerance. A sound asset-management plan: Takes into account your goals and expectations Provides expert, constant monitoring of your investments Balances potential gains or losses and benefits or risks with your own comfort level Relieves you of the burden of constant investment management Is Your Asset Manager Right For You? Ask prospective managers about their: Investment Philosophy and Credentials How well they ve performed in the past How they will work with you in the future to help achieve your financial goals Our team of investment professionals works with you to create and implement a customized strategy integrating a balance of quality investments to help you achieve optimum returns. Trusts Managing your family s financial security requires a unique set of proven financial solutions trusts, estates, and investment management tools that ensure the estate you ve built is managed, transferred and maintained advantageously for future generations. When you and your legal advisor select Capital One as your trustee, an Account Administrator and Portfolio Manager will be assigned to: Invest trust assets Distribute income and/or principal to beneficiaries according to the trust document terms Make tax decisions for the trust and file the trust s income-tax returns Keep transaction records and prepare statements of account activity Work with family members to ensure that the trust is meeting the beneficiary s needs Be responsible for day-to-day communications and coordinate periodic account reviews * If there are other assets such as real estate and oil and gas, an additional specialist will be assigned. Charitable Foundations, Trusts or Endowments Support the causes and organizations about which you really care. Insurance Preparing for the unexpected is an important aspect of every business and personal financial plan and critical to a sound strategy for growing wealth. Capital One s insurance expertise provides well-researched individualized risk management solutions to protect and preserve assets for you, your loved ones and your business. IRAs Are you about to retire or change jobs and have been participating in your employer s retirement plan? Let our team of experienced professionals establish a rollover IRA that is flexible and simple to maintain. We offer several investment alternatives that allow you to rollover your existing retirement assets or establish and fund a new individual retirement account. Estate Settlement Choosing an executor of your will is an important step in planning and securing your family s future and financial stability. Allow our team of professionals to serve as executor or co-executor of your estate and provide the care and concern needed to complete the estate settlement process in a timely manner. An estate plan is effective only when it accurately reflects your current situation. Capital One s estate experts will work with you in an advisory capacity to keep abreast of changes in your family marriage, childbirth, beneficiary adjustments, etc. as they occur. We adapt quickly to your evolving situation and review every detail to ensure that your exact wishes are carried out. Real Estate and Mineral Management Real Estate and Mineral Assets require hands-on specialized management by trained professionals. Our Real Estate and Mineral Management Unit (REMM) has a dedicated in-house staff of real estate and oil & gas professionals. The REMM Unit utilizes: A specialty asset accounting system Industry specific database information services Mapping software Other specialized tools for managing a portfolio of unique assets Our committee of experts meets on a weekly basis to review real estate and mineral transactions, discuss industry trends, and act on any matters accordingly. Call Capital One s Private Client Group toll-free today at and experience for yourself what 70 years of strength, knowledge and first-class local talent can do for you. Capital One s foundation and endowment specialists work with you and your legal counsel to formulate a personalized planned-giving program to optimize your contributions and provide financial solutions to your preferred non-profit organizations.

5 Institutional Client Services Products and services are offered by Capital One, NA or one of its affiliates or subsidiaries. Capital One Bank is a trade name of Capital One, N.A. and does not refer to a separately insured institution. Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency PCGICS01 4/09

6 Institutional Client Services As part of the Private Client Group, Institutional Client Services provide a consultative approach, sophisticated tools, professional experience, and local management to add value to our clients asset management, custody, or retirement services. We take the time to understand your organization s needs and then advise you how to leverage services such as Foundations and Endowments, Custodial, and Retirement. Investment Management Knowing your investments are shaped by your organizational goals, short and long-term objectives, and risk comfort level, our team of Institutional Client Services administrators and investment professionals work to create a strategy and implement a plan that optimizes your investments. With the help of Capital One Asset Management LLC, Institutional Client Services assists in meeting your financial objectives by: Making a detailed assessment about your organization s objectives and expectations Developing a tailored solution for your organization Reviewing and modifying your investment plan based on your organization s considerations, regulations and changes in the market environment Giving you full access to our portfolio management team Foundations and Endowments Specialized Services Let Capital One assist with forming investment guidelines, managing your investments and helping support planned giving programs. Our Foundation and Endowment Specialists consult with your organization to bring clients with mutual interests together. The keys to success of any Foundation or Endowment center on the underlying Investment Policy governing the management of investments, the setting of benchmarks for comparison purposes and defining how the investment manager oversees the investment. Capital One specialists, who work with the Foundation and Endowment boards and staff, help our clients create a planned giving program that optimizes their philanthropic contributions. Custody and Escrow Accounts Whether online or in-person, Capital One Institutional Client Services offers secure solutions to fit your diverse needs and make your complex cash transactions easier and simpler. When it comes to holding and transferring sizeable assets, we provide comprehensive, dependable resources and solutions for the safekeeping of securities and trade settlements, collection and crediting of interest and dividends, securing electronic transfers, processing corporate actions, and cash management. Additionally, all activity of account(s) is reported on a single statement and distributed at regular intervals. As an escrow agent, Capital One, N.A. acts as a neutral third party for safekeeping of monies and/or other securities in situations where an independent third party is needed. Once the terms of the agreement are fulfilled, the escrow funds are relinquished to the appropriate party. Capital One s Institutional Client Services provides: Deposit of escrow funds Release of escrow proceeds in accordance with the terms of the agreement Providing periodic statements reflecting activity Filing the IRS form 1099 if necessary Traditional situations where an escrow account would be used are: Disbursement of funds for construction Business transitions services, mergers, acquisitions, and buy-outs Plug and abandonment trusts and escrows for oil companies Investment offerings, including public and private offerings Remediation escrows Depository for claim settlements Retirement Plans and Employer 401(k)s plus Flexible Recordkeeping Options Capital One s Institutional Client Services embraces a proactive, consultative approach to deliver a comprehensive array of qualified retirement plan services. Today s employees are more likely than ever to scrutinize the details and performance of retirement plans. A quality retirement plan provides: Flexible and numerous well-performing investment options customized to your business Unfailing service and administration You gain peace of mind knowing your employees have a secure and flexible retirement plan solution and they gain additional reasons to grow with your business. Plan Design Our team of local retirement plan specialists work closely with you to gain an understanding of your organization s unique position and analyze your goals to design a turn-key retirement plan solution for your organization s needs. In addition, we help you remain compliant and manage your plan by providing updates on laws and regulations. Investment Vehicles Plan participants desire access to top quality investments and options. We conduct an independent review and assessment of numerous options to assist you in rewarding employees with premium investment choices and styles. Communication We recognize you want your plan participants to understand the benefits available to them so they may make informed decisions supporting their retirement goals. Our plan specialists host informative employee enrollment meetings designed to generate and sustain plan participation. Ongoing employee conferences are available as market conditions change, addressing questions and concerns that arise. Communication and education give you and your employees knowledge to maximize plan benefits. Fees We know competitive fees are a significant aspect of selecting a retirement plan. Institutional Client Services aids you: In understanding the methods in which fees are charged Analyzing fees so you can draw accurate comparisons Recordkeeping Complex financial and business situations require customized, flexible and responsive support services. We provide seamless, comprehensive recordkeeping and processing support for large or small businesses, so you can focus on what you do best. Call Capital One s Private Client Group toll-free today at and experience for yourself what 70 years of strength, knowledge and first-class local talent can do for you.

7 Client Advisory Services Products and services are offered by Capital One, NA or one of its affiliates or subsidiaries. Capital One Bank is a trade name of Capital One, N.A. and does not refer to a separately insured institution. Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency PCGCAS01 4/09

8 Client Advisory Services Wealth creates opportunities and challenges. Capital One Bank has developed a program that guides affluent business owners and individuals in addressing comprehensive wealth issues including: long-term financial security, business/asset transition, tax mitigation, risk reduction, and many other business and personal planning objectives. In doing so, our service uniquely helps turn opportunities into realities. Through a partnership with The Rainier Group, L.L.C., a nationally recognized consulting firm specializing in business and wealth transition planning, we have years of experience in guiding high-net-worth business owners and individuals through strategic decisions affecting their families, employees, businesses, and communities. What looks like uncharted territory to you is a road we ve traveled many times. Many owners have a Contingency Plan providing for their family and business in the unfortunate event of an untimely death or disability. Contingency Plans, however, address the atypical situation. The more likely scenario is that the owner will not die prematurely or become disabled, but rather live a natural lifespan. Therefore, he or she will want to redefine his or her relationship with the business. This requires a Living Business Transition Plan. Comprehensive Approach Financial decisions are life decisions. We analyze all aspects of your financial affairs simultaneously and how they interrelate. Then we guide you to decisions that balance, integrate and support a comprehensive financial perspective. Objectivity Our services are process, not product, oriented. Typical financial advice leads with a product solution or sale. We are fee-based. Our approach leads to a comprehensive strategy designed to achieve your unique business and personal objectives. A Living Perspective Many long-term business and personal financial plans focus on contingency plans that address a business owner s or individual s death or disability. Our approach focuses on the more likely scenario of your continued prosperity and the challenges encountered with living with wealth. Financial Modeling The most creative and effective solutions are born from detailed analytics. Our proprietary financial modeling can reveal the current and longterm impact of your decisions on business transitions, taxation, wealth preservation, financial security, gifting, and philanthropy before you act - allowing you to successfully implement the best course of action. Business Transition Services Enlist the help of a team of experienced advisors to assist with strategic decisions concerning changing the ownership and management of a business that have a family, financial and business impact. Services Include: Objective advice that balances complex business issues Customized analysis and consulting Detailed financial models of business and personal situations and objectives Cohesive interaction with your current advisors Strategy implementation Personal Wealth Advisory Services You gain a trusted partner to help make long-term decisions on growing, preserving and transferring wealth and balancing personal, family, entrepreneurial and philanthropic objectives. Services Include: Financial strategies for wealth growth and maintenance, tax reduction, and comprehensive goal facilitation Recommendations tailored to your life needs and goals Comprehensive analysis of interrelated aspects of personal finances Coordinate efforts with your current advisors Strategy implementation Making Well-Informed Decisions Preliminary Assessment Detailed Data Gathering Design Process Examine Alternative Financial Models Annual Review Monitor Planning New Projects Implement Decisions Additional reasons to consider Capital One Bank for business and personal wealth transition planning: Access to a team with more than 18 years of transition planning expertise Completely product unbiased when evaluating your unique circumstances With over 850 transition plans completed, our team has the experience you demand to meet your objectives Contingency Plans are often not enough Living Transition Plan Contingency Plan A Team of Experts Working for You Comprehensive strategic planning that integrates business, family and financial challenges Recommendations tailored to your business and life needs and goals Close collaboration with your existing accountants, attorneys and other advisors Support throughout the decision-making process Detailed proprietary financial modeling Implementation services - not just advice Put an experienced team of financial experts on your side. We offer specialized expertise and a defined approach to developing wealth strategies for your personal and business situations. Clarify your objectives and explore your opportunities. Call Capital One s Private Client Group toll free today at

9 The Capital One Private Client Group Capital One s Private Client Group brings over 70 years of financial knowledge and experience, plus the strength and community legacy of Capital One, providing first-class local talent with a global perspective. We offer a consultative, hands-on approach with customized, strategic solutions to help individuals, businesses and their owners, non-profit foundations and institutions grow, manage, protect and transfer wealth. Wealth-management solutions include: Customized Investment Portfolios and Asset Management Trusts Estate Settlement Individual Retirement Accounts Custody and Escrow Accounts Charitable Trusts, Foundations and Endowments Real Estate and Mineral Management Business Transition Services Personal Wealth Advisory Services Insurance Financial Planning Private Client Group Bringing peace of mind to life Life s Goals Can t Be Separated Your bank should be fostering your dreams. The team you work with should know who s important in your life and what you want out of it. Capital One helps you bring the pieces together to create financial solutions and, in the process, bring greater peace of mind. For every phase of your life, Capital One s financial experts are here to help you reach your financial and life goals. The Difference We know. As members of your community, we enjoy a shared view of our world and its possibilities. We embrace your aspirations, understand your concerns and bring to you a pragmatic vision for your secure, balanced and promising financial future. We re here. Our team of financial advisors gives you access to first-class experience, expertise, intuition and commitment, equipping you with powerful tools and ideas to grow, manage, protect and transfer wealth. And we re right in your own backyard. We re committed. As a division of the Bank and a partner with Capital One Asset Management, LLC, the Private Client Group works to ensure that your assets are rigorously monitored and safeguarded. In order to maintain the utmost transparency in our policies and procedures, we are overseen by several regulatory bodies, conduct a series of annual internal and external audits, employ a full time staff of Compliance officers for both the Trust and Asset Management divisions, as well as allow public access upon request to specific audit documents. You can have peace of mind in knowing that your assets are in good hands at Capital One. We re with you, every step of the way. By putting our relationships with our clients and their enduring success above all else, we provide an uncompromised, unwavering degree of advocacy for you, your family and your future. Products and services are offered by Capital One, NA or one of its affiliates or subsidiaries. Capital One Bank is a trade name of Capital One, N.A. and does not refer to a separately insured institution. Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency PCGBROCH01 4/09

10 Capital One s Private Client Group Growing Wealth Wealth doesn t usually come all at once; it comes from conviction, knowledge, and careful planning over a long period of time. We help you envision the components of your financial life as an integrated whole. Our experience, expertise, and objectivity allow us to customize solutions to meet your financial needs and present you with a clear picture of your long-term growth plan. Managing Risk and Change Everyone has a different risk tolerance and should have an investment strategy that reflects it. Capital One Private Client Group s proven financial leadership helps you manage your finances by working with you to create an investment strategy that balances optimum return with acceptable risk. We provide you with responsive financial guidance and innovative financial products to reach your financial goals. As your life changes, we will keep you informed of the status of your investments and revise those strategies to accommodate your current and future needs and lifestyle. Protecting and Transferring Wealth You want to build something to leave to the people you care about, and we will help you. Together, we ll navigate the complex world of tax minimization, personal and business risk management, maximizing charitable intent, and estate settlement through a full range of trust and fiduciary services. We offer you expert knowledge and practical insight into protecting and passing on wealth while maintaining the personal values that helped build it. The Capital One Process We develop an understanding of your financial goals, objectives, and expectations through listening, assessing, and prioritizing. We gather research and analyze financial information to help you make well-informed decisions. We identify strategic approaches and design a customized plan that fits your unique needs. We implement your investment plan and Assess Analyze incorporate the optimal asset allocations to meet your goals. We continually review and modify your strategic financial plan to help you stay on the right track. Review Design Implement Capital One An Integrated Whole We work to serve all of your financial needs, from banking to investments to wealth management solutions. Our trust administration works to build client relationships, both personal and institutional, and maintain an extraordinary level of service for all our trust and investment management accounts within the Capital One footprint. Capital One Asset Management, LLC, an SEC registered investment advisor and wholly-owned subsidiary of the bank, serves as the investment management arm of the Private Client group by providing customized portfolio management to meet the needs of our clients. Customized Investment Portfolios and Asset Management Your investments are a reflection of your financial and personal goals, your short- and long-term objectives, and your risk comfort level. Our team of investment professionals works with you to create a strategy and implement a plan that integrates a balance of quality investment instruments designed to achieve optimum return. We ll help you define your needs, create a customized plan designed to protect your assets and position them to positively leverage economic, legislative, and market factors. Trusts Using proven, flexible financial solutions, trusts and estate management tools, we ll help you develop a plan that creates financial security and support for your family and your legacy for generations to come. Estate Settlement Our unique ability to strike the critical balance between the assets transitioned to minimize estate taxes and the assets needed to meet today s needs sets PCG apart and yields powerful results for you. Your customized plan reflects your vision for your legacy, considers the individuals for whom you wish to provide, and identifies the needs you re committed to protecting. Individual Retirement Plans and Employer 401(k)s Our team of consultants will customize and establish a flexible 401(k) plan to fit your employees specific needs and consistently review your plan s performance. Complex financial and business situations require customized support services that are both flexible and responsive to your needs. We provide seamless, comprehensive record-keeping and processing support for large or small businesses, and we assist individual plan participants in transitioning into an individual retirement account when the time is right. Custody and Escrow Accounts We provide secure solutions (online or in person) for the safekeeping of securities, collection and crediting of interest and dividends, secure electronic transfers, processing corporate actions, and cash management. Charitable Trusts, Foundations and Endowments Our foundation and endowment specialists work with you to develop a personalized planned-giving program for you or your business to optimize your contributions and provide financial solutions to the institutions you support. Real Estate and Mineral Management Real Estate and Mineral Assets require hands-on specialized management by trained professionals. Our Real Estate and Mineral Management Unit (REMM) has a dedicated in-house staff of real estate and oil & gas professionals committed to managing these assets. We utilize a specialty asset accounting system, industry specific database information services, and mapping software, among other specialized tools, in managing all aspects of a portfolio of unique assets. A committee of experts meets on a weekly basis to review transactions, discuss trends within the industry, and act on any matters relating to the management of these assets. Business Transition Services When faced with complex issues and decisions arising from a change of management or ownership of your business? We can provide an impartial, comprehensive perspective that will help define objectives and discover strategic opportunities that promote successful choices. Personal Wealth Advisory Services Capital One presents successful individuals strategies to uncover opportunities for more efficient wealth transfer. Financial modeling allows the client to see the current and long-term impact of choices on risk, investment return, income protection, taxation and wealth preservation. Insurance Preparing for the unexpected is an important aspect of every business and personal financial plan. Protecting and preserving assets and managing risk are critical to a sound strategy for growing wealth and achieving your financial goals. Our insurance expertise provides well researched and individualized risk management solutions to protect you, your loved ones, and your business. Financial Planning We ll help you define and refine your financial goals, and develop and clarify potential opportunities. A comprehensive analysis of the interrelationship of factors like risk, investment return, income protection, and taxation makes your decisions well informed and strategically tailored to fit your needs and objectives. Call Capital One s Private Client Group toll-free today at and experience for yourself what 70 years of strength, knowledge and first-class local talent can do for you.

11 Capital One Asset Management Investment Management at Capital One is designed to help clients reach their financial goals and achieve their dreams. Capital One Asset Management LLC The investment professionals at Capital One Asset Management, LLC work closely with clients to define and develop a plan. The plan is customized and is based on blending a thorough understanding of the client s unique situation with an experienced comprehension of the nature of financial markets. Building upon this plan, we implement appropriate strategies that address both return goals and risk constraints. We continually work with clients throughout the relationship to reassess evolving personal objectives and dynamic markets, ensuring that the investment portfolio is always aligned with the client s goals. Investment Management Philosophy Our investment philosophy centers on five key tenets: 1. We work with each client individually and always put the client s interests first. 2. The most important decision in the investment management process is the asset allocation decision, for which we have a disciplined and active approach. 3. We believe long-term, tax sensitive investing produces and preserves real wealth, after taxes and inflation. 4. We do not believe risk should be avoided; rather its many forms must be identified, managed and controlled by constructing portfolios designed to produce returns commensurate with clients objectives and risk tolerance. 5. We believe in a team approach regarding economic forecasting, managing asset allocation strategy and implementing tactical changes when opportunities arise. This approach is designed to promote the firm s thorough strategy formulations as the dominant factors in portfolio returns. Investment Management for Individuals Our Capital One Asset Management LLC professionals will gather information about your goals, objectives, and risk comfort levels. Once a mutually-agreedupon plan is set, we will construct and manage a portfolio uniquely designed to meet your goals and objectives. You ll receive regular updates of portfolio performance and we will continue to advise you concerning possible revisions to your investment policies as your needs and lifestyle change. Investment Management for Institutions Capital One Asset Management understands institutional investors special needs and provides the professional management required to exceed their financial objectives. Our professionals are experienced working with many types of Institutional Investors, including Pension Plans, Endowments, Financial Institutions, and Corporate Treasurers Offices. We can assist in the creation of Investment Policies, including the allocation of funds among asset classes, and of course, professionally manage the assets in accordance with an Investment Policy Statement. Products and services are offered by Capital One, NA or one of its affiliates or subsidiaries. Capital One Bank is a trade name of Capital One, N.A. and does not refer to a separately insured institution. Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency PCGCOAM01 4/09

12 Fixed Income & Equity Management Fixed Income Because the return and risk drivers in fixed income investing are largely related to the macro-economic environment, Capital One Asset Management s fixed income team employs an extensive top-down approach to portfolio management continually reassessing a variety of economic, liquidity and credit factors affecting the value of fixed income securities and manages portfolios accordingly. Our fixed income management process is delineated along the total return-income axis, with strategies and offerings determined by that fundamental return/risk preference. Accounts of all sizes* have access to either total return or income strategies. *Offerings may differ. Accounts under $2,000,000 may utilize mutual fund-based strategies and accounts. Those above $2,000,000 typically employ separately-managed accounts measured against client- driven benchmarks. Fixed Income - Total Return Management Actively managed accounts are typical among institutional portfolios that are managed according to a detailed Investment Policy Statement (IPS)** provided by the client, specifying one or more performance benchmarks for return evaluation as well as risk constraints. Fixed income portfolio management starts with the identification of relative valuation among eligible security types and acceptable risks within the scope of the IPS. Sophisticated portfolio management tools and professional experience are employed to control risk and maximize return, at the intersection of prescribed constraints and opportunities in the bond market, in the context of active duration management. Total return strategies that mimic a particular benchmark rather than risk underperformance are employed for institutional clients preferring passive strategies. These strategies keep sector and interest rate risk neutral to a benchmark and require periodic rebalancing to maintain neutrality. **In cases where an IPS is not available or needs updating, we will work with you and your staff/board to create an appropriate IPS for your organization reflecting your risk tolerance and objectives. Fixed Income - Income Oriented Strategies Our income oriented strategies focus predominantly on laddered strategies and mutual fund-based solutions. Income strategies are usually employed by portfolios of $2,000,000 and/or those benefiting individual investors. Passively managed, laddered portfolios are often well-suited to individual investors or any investors with portfolio values between $1,000,000 and $2,000,000 and whose primary goal in the fixed income portfolio is to maintain a steady, predictable stream of income rather than an active strategy involving higher turnover of holdings. Fixed Income - Fund Solutions Capital One s fund offerings are designed to facilitate total return or income strategies for taxable or tax-exempt investors. Our Fixed Income Strategy Group guides portfolio managers by providing a recommended mix of funds for total return and income strategies consistent with its strategy determinations for separately managed accounts. Strategies employ a mix of funds to manage risk in a portfolio, such as tax-exempt ultra-short and tax-exempt intermediate offerings. In most cases, we recommend that accounts with fixed income components under $1,000,000 employ fund solutions. Fixed Income - Separately Managed Accounts Larger portfolios, $2,000,000 and above, are generally suited for separate management and often include institutional portfolios with a well-developed IPS and a broad range of goals, constraints and benchmarks. Tax-exempt entities such as foundations and endowments normally prefer investment -grade taxable bonds while individual and corporate investors may find that municipal securities are able to meet their after-tax investment objectives. Strategies can be total return or income oriented depending on the risk preference of the investor and the eligible security types. Specified degrees of interest rate and credit exposure may be chosen, such as ultra-short duration strategies and high quality/government strategies. Equity Management Equities provide a practical way to come to grips with inflation s erosive effect on real purchasing power. Capital One Asset Management s approach to equity portfolio management is grounded in the knowledge that fundamentals ultimately drive stock prices, and that a structured investment process employing research that is firmly rooted in financial and behavioral theory can generate excess returns, or alpha. In this structured process, we combine a disciplined, quantitatively focused equity evaluation system with an active approach to risk control, employing a portfolio construction process that seeks to minimize exposure to risk factors that we think will be unprofitable. The result is a portfolio whose ability to produce alpha is generated from exposure to stock selection and not exposure to unexpected or unpredictable risk factors. Equity Management & Quantitative Analysis Capital One Asset Management incorporates quantitative tools for evaluating individual stocks and analyzing the companies in our universe. We evaluate equities according to a set of fundamental factors derived from sound research and our balanced, multi-factor approach helps enhance the effects of any one single factor. Companies are ranked within four dimensions -- Earnings Momentum, Growth Potential, Earnings Quality and Value. Those whose composite ranking rises to the upper end of peers are subject to qualitative analysis by the professionals on our investment team. Equities declining in rank are reviewed by our managers to determine whether they should be held or sold. Our equity evaluation process serves as a framework for both purchase and sale decisions, helping to ensure stocks purchased have a high probability of producing excess return while those chosen for sale have characteristics making them less likely to outperform. Our structured stock evaluation process drives our actions in maintaining portfolios of attractively valued companies with growing, accelerating earnings, healthy balance sheets and shareholder-friendly management teams. Our portfolio construction process ensures that our clients portfolios are not exposed, deliberately or inadvertently, to risks that can be destructive to long-term wealth building. In this process we seek to minimize the influence of theme or timing-related bets that commonly show up in portfolios whether the manager intends them to or not. Exposure to style, timing, or sector risks is neutralized. The combination of the equity evaluation process and the portfolio construction process has enabled Capital One Asset Management to produce superior riskadjusted equity portfolio performance. Equity Management - Capital One Asset Management s Large, Mid and Small Capitalization Products For both large and medium sized companies (Large Cap and Mid Cap), our multifactor quantitative process screens through a universe of 1,100 companies from Standard and Poor s and other recognized equity indices. Portfolios designed to serve Core, Growth and Value strategies are available from our extensive equity universe. In addition, a Small-Cap Value product benchmarked to the Standard and Poors 600 Value Index is available. Call Capital One s Private Client Group toll-free today at and experience for yourself what 70 years of investment management expertise and first-class local talent can do for you.

13 Unique Assets, Specialized Management Real Estate and Mineral Assets require hands-on specialized management by trained professionals. The Capital One, N.A. Private Client Group s Real Estate and Mineral Management Unit (REMM) has a dedicated in-house staff of real estate and oil & gas professionals committed to managing these assets. The REMM Unit utilizes a specialty asset accounting system, industry specific database information services and mapping software, among other specialized tools, in managing all aspects of a portfolio of unique assets. A committee of real estate and mineral experts meet on a weekly basis to review real estate and mineral transactions, discuss trends within the industry and act on any matters relating to the management of these assets. For over 50 years the REMM Unit has been focused on building partnerships and has been able to manage the overall client relationship and these unique assets,while bringing our clients peace of mind. Real Estate and Mineral Management Real Estate Management Capital One, N.A. Private Client Group s Real Estate Department manages properties in Louisiana, Texas, Arkansas, New Jersey, New York and a number of other states. The real estate assets we manage vary in both type and size and include residential, commercial, industrial and development properties. We also administer timber, agricultural and surface interests relative to oil and gas assets. Our experienced staff manages shopping centers, retail stores, apartments and condominiums, offices, warehouses and marinas. We are in daily contact with our tenants-from national corporations to small local firms and individuals. Our department is equipped to actively manage and operate almost any real estate asset. When appropriate, we engage outside specialists and supervise their progress. Mineral Management Capital One, N.A. Private Client Group s Mineral Management specializes in the management of oil and gas properties in Louisiana, Texas, Oklahoma and several other producing states. For decades, we have represented a wide range of clients including individuals, estates and trusts. Capital One, N.A. Private Client Group Toll Free Telephone Number Louisiana Region... Option 3 Texas Region... Option 4 New York Region... Option 5 Our dedicated in-house oil and gas managers provide our clients with an unmatched level of expertise. Capital One, N.A. Private Client Group has access to information on market activity in many areas of the industry. Products and services are offered by Capital One, NA or one of its affiliates or subsidiaries. Capital One Bank is a trade name of Capital One, N.A. and does not refer to a separately insured institution. Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency PCGREMM01 4/09

14 Our Services The Capital One, N.A. Private Client Group s Real Estate and Mineral Management Unit (REMM) has a dedicated in-house staff of real estate and oil & gas professionals committed to managing these assets. Here s what we can do for you: Rental and leasing Tenant relations Professional assistance in the sale and purchase of real estate assets Maintenance of appropriate insurance coverage and claim handling Monitoring accuracy and timely payment of real estate taxes Lease analysis Monitoring and verification of lease compliance Supervise and arrange for repairs, maintenance and major capital improvements Review and supervise service contracts Pay and properly allocate bills and invoices Arrange and monitor activities appraisals, surveys, abstracts, timber cruises, timber sales, agribusiness reports and environmental evaluations Perform regular property inspections with written reports and recommendations Prepare annual budgets for individual assets or accounts as appropriate Consult attorneys and accountants as necessary Track surface income and expenses by individual asset and account Identify and catalog all mineral assets Receive, monitor and maintain a history of income and expenses Track production on a well, lease, unit, and/or field basis Verify division order decimal interest Monitor pricing fluctuations Track delinquent payors Negotiate and execute leases Fee Schedules The Private Client Group is committed to working with you to accomplish your financial goals and objectives. Accepting the responsibility of managing your real estate, oil and gas and minerals assets is a serious undertaking. We strive to provide you with the highest level of quality service available. Real Estate Interests Base Management Fees: An annual rate of $6.50 per $1,000 of current appraisal value. Minimum of $250 per asset or $1,000 for 5 or more assets. Income Fees: Residential and Commercial Agricultural and Timber Easements: Leasing Fees: New Leases: Minimum: $250 Renewal Leases: Minimum: $150 Sale or Acquisition Fees: Without Agent: With Agent: Between Principals Only: Minimum: $150 7% of gross income received 7% of gross income received 7% of gross income received 6% of primary rental value 3% of gross income received 6% of sales price 3% of sales price 1% of sales price Mineral Interests Base Management Fees: New Asset Annual Fee: Non-Producing Asset Annual Fee: Producing Asset Annual Fee: Royalty or overriding royalty Producing Asset Annual Fee: Working Interest Activity Fees: Division Orders: Delay Rentals: Shut in Royalty: Lease: Minimum $150 $25 per asset $25 per asset 6% of gross revenue 8% of gross revenue $50 per order 6% of rental 6% of royalty 6% of bonus Real Estate, Oil and Gas and Mineral Interests Third Party Charges All third party charges such as appraisals, routine maintenance, taxes, insurance, legal and professional expenses will be charged directly to the account. Extraordinary Services Fees for unusual or special services are based on the value of the particular service provided. Rights-of-way, complex maintenance supervision, litigation, loan negotiation or other unusual management activities, as well as account termination expenses will be charged based on time and expenses incurred. There will be reimbursement for out-of-pocket expenses, such as tax preparation fees for trusts.