Registered Investment Advisory Firm

Fees and safeguards

Standards of Personal and Professional Conduct

Code of Ethics

Shapiro Asset believes it is imperative to maintain high standards of personal and professional conduct. As a registered investment advisor, Shapiro Asset owes a fiduciary duty to our clients that require  us to place the interests of our clients ahead of our own interests. A critical component of our fiduciary duty is to avoid potential conflicts of interest. Accordingly, we must avoid activities, interests, and relationships that might interfere or appear to interfere with making decisions in the best interests of our advisory clients. Confidentiality is an important component of SAM's code of ethics.   Never will personal information be shared with anyone else unless the client approves.

Fee Structure

Shapiro Asset is a fee-only Registered Investment Advisor and is paid only by our clients. Our investment management fee is based on a percentage of your assets, therefore we are compensated based upon how your portfolio performs, and not paid based on transactions. The custodian services we utilize provides low transaction costs for your portfolio while being fully transparent to our clients. At the end of each quarter, a quarterly advisory fee, payable in arrears and based on the market value of the client’s assets under management, is calculated and billed to the client.


Shapiro Asset has fail/safe controls over your money. First, all your money is held by an independent custodian, normally TD Ameritrade Institutional. I can only implement transactions at Ameritrade on your behalf. I can not direct or transfer money in or out of the portfolio; only the client can move assets in and out of their portfolio. Second, your account reports come directly from Ameritrade and your portfolios are visible 24 hours a day, seven days a week on-line. Third, I have outlined and explained how I pick stocks and bonds and you see every transaction. Lastly, Shapiro Asset is a registered investment advisory firm.