Experience and Services

Experience

Our team has 100 years of cumulative experience in the financial services industry. We manage over 350 client relationships with more than $450 million in assets and liabilities currently under management. 
 
As part of overseeing and managing your assets, the Cotto & Padovani Financial Strategies Group of Wachovia Securities provides:
  • Clear and frequent communication--in person, through our extensive website, by telephone, mail, e-mail and/or fax
  • Coordination with your tax and legal advisors as needed
  • Online access to your account balances, positions and activities
  • Personalized year-end tax packages to assist your tax prepaper in the preparation of your income tax return
Comprehensive Financial Review

The Cotto & Padovani Financial Strategies Group believes that before you make any investment decisions, it is important that our team understands where you are today and where you want to be to meet your life goals. To that end, your investment plan will:
  • Identify assets and liabilities
  • Identify income sources
  • List pension benefits, Social Security benefits, and other current and anticipated income sources
  • Analyze current income and compare it with future needs
  • Provide education funding plans for college-bound children and/or grandchildren
  • Develop a retirement plan with accumulation and spend-down strategies
Portfolio Management

The Cotto & Padovani Financial Strategies Group offers clients a traditional brokerage relationship with commission charges and two fee-based money management relationships as follows:

Masters Program--Through this service, the Cotto & Padovani Financial Strategies Group provides world class professional money management through some of the nation's most sought-after portfolio managers. Equally important, you will be served by the oversight of Wachovia Securities' Manager Strategy Group and the firm's disciplined, deliberative, objective, and long-term approach to building and managing wealth.1
Asset Advisor Program--With this asset-based fee for service program, the Cotto & Padovani Financial Strategies Group uses the full resources of the firm in providing investment solutions--and a sounding board for your questions and ideas--while you make the final investment decisions.2

1 The fees for the Mastersprogram are assessed quarterly in advance. The fees include Advisory services, performance measurement, transaction costs, custody services and trading. The fee schedule, which is negotiable, is based on account size and an assumed active portfolio. Fee based programs are not designed for excessively traded or inactive accounts and may not be suitable for all investors. A minimum annual fee may apply for this program. Please carefully review the Wachovia Securities advisory disclosure document for a description of our services and information on all fees and expenses. The minimum account size for this program is $100,000.

2 Fees for the Asset Advisor  program cover Advisory services, performance measurement, transaction costs, custody services and trading. The fees do not cover the charges and expenses of any Mutual Funds that may be purchased within the program and customary brokerage charges may apply to non-program assets. Fees are based on the assets in the account and are assessed quarterly. Fee-based accounts are not designed for excessively traded or inactive accounts, and may not be suitable for all investors. During periods of lower trading activity, your costs might be lower if our compensation was based on commissions. Contact a Financial Advisor for details about additional expenses that may apply in certain circumstances and for a list of eligible and excluded assets. A minimum annual fee may apply for this program. Please carefully review the Wachovia Securities advisory disclosure document for a description of our services and information on all fees and expenses. The minimum account size for this program is $50,000.

Lending Services

Through affiliates of Wachovia Securities, you have access to a varity of strategies for your borrowing needs and for the effective management of your liabilities. Our lending services3 include:
  • Residential mortgages (purchase and refinance)
  • Home-equity loans
  • Creative lending solutions for small businesses
  • Loans and lines of credit
  • Construction-permanent financing
  • Commercial mortgages
3Lending Services are available through banking and non-banking subsidiaries of Wachovia Corporation, including, but not limited to Wachovia Bank, National Association and Wachovia Bank of Delaware, National Association, separate affiliates of Wachovia Securities, LLC and subsidiaries of Wachovia Corporation. All loans are subject to credit approval. Wachovia Bank and Wachovia Bank of Delaware are equal housing and opportunity lenders. 

Retirement and Other Pension Plan Services

The Cotto & Padovani Financial Strategies Group serves the needs of individuals, business owners and companies in maintaining retirement and pension plans by offering:
  • Evaluation of existing plans and the provision of prototype documents for new plans
  • 401(k) plans
  • Money purchase plans
  • Safe Harbor 401(k) plans
  • Single Employee 401k (uni-k) plans
  • Defined-benefit plans
  • Simple plans
  • Sep IRAs
  • Ira/Ira rollovers
  • Assistance in designing employee stock ownership plans (ESOPs)
  • Educational investment planning assistance to employees of corporate clients
Wealth Preservation/Trust Services

The Cotto & Padovani Financial Strategies Group understands that when it comes to your estate, the strategic planning of your financial future could have a dramatic impact on you and your loved ones. Through affiliates of Wachovia Securities, we can offer you a wide array of wealth preservation and trust services including:
 
  • Insurance Trusts
  • Revocable and Irrevocable Trust strategies
  • Buy-Sell Agreement Strategies
  • Family Limited Partnership guidance*
  • Customized business succession planning
  • Liquidation plans for business owners
  • A trust that directs your assets if you become incapacitated
  • Providing care for an elderly parent or a child with special needs
  • Other Property and Asset Transfer Strategies
  • Bank Trust/Trustee Services
  • Not For Profit Groups
  • Endowments
  • Law Firms & their clients
  • Institutions
Trust services are offered through Wachovia Bank, National Association (“WBNA”), a national banking association (charter by the Office of the Comptroller of the Currency) and a wholly owned subsidiary of Wachovia Corporation.
* Wachovia Securities is not a legal or tax advisor.

Services for Executives and Corporations

The Cotto & Padovani Financial Strategies Group offers a broad range of financial programs and plans for business owners, executives, corporations and entrepreneurs in managing:
  • Corporate cash management
  • Group Insurance
  • Executive supplemental retirement savings programs
  • Key person and other life insurance programs
  • Group Health & Employee Benefits Plans
  • Rule 144 restricted and control stock sales
  • Stock-option exercises and sales program
  • Funding for buy/sell insurance agreements
  • Corporate stock repurchase programs
Insurance products are offered through nonbank insurance agency affiliates of Wachovia and are underwritten by unaffiliated insurance companies. Wachovia Securities, LLC is a separate non-bank affiliate of Wachovia Corporation.

Wachovia Equity Collars

The Cotto & Padovani Financial Strategies Group offers Wachovia OTC Equity Collars to suitable investors. OTC Equity Collars can be ideal for institutional and other successful investors who want to retain some participation in the potential upside of their stock while protecting their investment from a decline in value below a predetermined level for a specific period of time. Participation in any price appreciation in the underlying stock will be limited to the exercise price of the written call contracts. An equity collar is a private contract between Wachovia Bank, National Association and the investor. It offers qualified investors negotiated floor and cap prices in attempt to hedge a specific individual stock or portfolio of stocks for a specific term.

Some of the advantages of Wachovia OTC Equity Collars are:
  • Wachovia OTC Equity Collars can provide investors with significant pricing flexibility.
  • Long term expirations are available.
  • Strike prices on a collar can be customized.
  • Floor protection establishes a minimum stock price.
  • Investor retains voting rights and dividends.
Some risks you may want to consider are:
  • OTC equity collars are not guaranteed in terms of performance of the participants in the contract. Either party may default on their obligation.
  • Investor forgoes appreciation above the cap level.

  • Tax straddle rules may impact holding period and gain/loss recognition.

Options involve risk and are not suitable for all investors. Prior to opening an option position, a person must receive a copy of Characteristics and Risks of Standardized Options. This document is available from Cotto & Padovani Financial Strategies Group at Wachovia Securities at 41 South Moger Avenue, Mt Kisco, NY 10549, 1-866-753-9558. Please read it carefully before investing.

Over the Counter (OTC) Risk Management products and services are offered by Wachovia Bank, National Association ("WBNA"). The foregoing information and opinions are for general information use only. WBNA does not guarantee their accuracy or completeness, nor does WBNA assume any liability for any loss which may result from reliance thereon. Such information is subject to change without notice, are not a commitment for any financial transaction, and do not constitute investment advice. Past performance is not indicative of future results. Commission, dividends, margins, taxes and other transaction charges have not been included. However, they will affect the outcome of option transactions and should be considered.


Comprehensive Reporting System

People have a need for knowledge and for a thorough understanding of their personal and business financial affairs. Attaining this is an important process that helps our clients and helps us serve them better. Based on this belief the Cotto & Padovani Financial Strategies Group provides the following comprehensive information services:
  • Monthly reporting system
  • Monthly summary of positions and transactions
  • Annual tax-reporting summary
  • Annual profit and loss summary
Insurance Services
  • Personal, Family, and Business Needs Analysis
  • Insurance designed specifically for the professional athlete
  • Term Insurance
  • Long-Term Care Insurance
  • Whole Life Insurance
  • Variable Universal Life Insurance
  • Fixed and Variable Annuities
Insurance products are available through insurance subsidiaries of Wachovia Corporation and other underwriters. Not available in all states. Variable annuities are long-term investments suitable for retirement funding, and fees are charged to pay for death benefits and other riders guaranteed by the issuing insurance company. Withdrawals from an annuity before age 59 1/2 may incur a 10 percent tax penalty. Before investing in an annuity, please read its prospectus carefully.