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| ICC member firms are located throughout the continental United States and serve clients in all 50 states. |
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Investment consultants interested in joining the ICC are encouraged to contact us. Please visit our Membership Info Page for details.
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Independent Consultants Cooperative
Objectives, Goals and Guidelines for Admitting New Members
| Objective of the Cooperative |
It is the intent of the Cooperative only to accept new members whose primary business is consulting. The ICC seeks to preserve these qualities:
- Prestigious name
- Best product
- Proprietary sample and reporting
- Cost-effectiveness
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| Goals of Membership |
To maintain:
- High quality, professional, experienced members
- Focused and dedicated to the Investment Consulting business
- Growth of sample and reporting capabilities
- And reinforce State Steet capacity to fulfill Coop needs.
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| Guidelines for Admitting New Members |
New members should satisfy these conditions:
- Minimum of 5 years principal experience
- Minimum of 75 portfolios
- Registered Investment Advisors
- No substantial adverse legal or regulatory judgments
- No sales to third party vendors or other consultants
- No wire-house brokerage firms
- Minimum of 2 key personnel
- Majority of key personnel earned industry-recognized accreditation (MBA, CFA, etc.)
- No direct or indirect investment management services offered (including manager of manager programs)
- Commission recapture programs should only be done to facilitate the consulting business
- Primarily institutional client base
- Potential members in businesses other than Investment Consulting must have a profitable consulting business and commit not to subsidize the consulting business.
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| Methodology for Admittance |
- State Street collects and submits names for consideration to membership committee.
- 3 people from the Committee will give initial approval for firms under consideration.
- Prospects complete new membership form, detailing history, personnel, expertise, products, client type, etc., and provide copies of ADV for Membership Committee review.
- Notice will be sent to all ICC firms regarding candidates under consideration, and feedback will be solicited from each new member firm.
- Membership Committee discusses and votes on each candidate. If a 2/3 majority of the membership committee approves the firm, the firm will be recommended to the full group for a vote.
- The full group votes on the candidate. 2/3 majority must approve.
- New members are excluded from votes on membership and fiscal affairs for the first year.
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* These should be considered guidelines, open to exceptions. All Founding Members are grandfathered.
Contact us to explore membership in the ICC
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