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Setting Up an Investment Policy Statement

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When an institution engages an investment management firm to handle their portfolio, one of the first things they do is agree to an investment policy statement, which is kind of the doctrine by which the money will be managed.  Our next guest says that this is something individuals should have, as well.

Mike Switzer interviews Rad Lowery, a chartered financial analyst with Carolina Wealth Advisors in Myrtle Beach, SC, and a member of the South Carolina chapter of the CFA Society.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.