Why your assets invested by us can not be subject to any thef

December 16, 2008 Keeping in touch and why your assets invested by us can not be subject to any theft

We wish you all the best of the holiday season. We wanted to make it clear that what has happened to investors via the Madoff debacle, can NOT happen to accounts which we manage. Here is some information. Please feel comfortable calling TD Ameritrade and externally confirming what I mention in this note. Their number is 800 431 3500. There is also a phone number on your statement.

1. We do not have custody of your assets or money. TD Ameritrade is custodial of your assets which we manage. TD Ameritrade is a member of Securities Investor Protection Corporation (SIPC). TD Ameritrade also carries excess SIPC Coverage of up to $150 million.

2. You have probably read about the apparent Ponzi scheme of Bernard Madoff and Madoff Securities. Bernard Madoff apparently was the investment manager and the custodian of the assets. Apparently he acted as a broker as well. There was not an independent separation of the Investment Advisor and the Broker.

3. All accounts are in our clients' own name or entity. None of the monies we manage are commingled, nor would the system allow for any co-mingling of assets.

4. You have internet access to your accounts at TD Ameritrade Institutional (TDAI). You also get copies of all activity from the external broker (TDAI) and copies of all monthly statements from the external broker.

5. We are transparent about our strategy. We try to be extremely forthcoming and open in all that we do.

6. As a general rule of thumb, you should always have external verification available to you. For example, if we send you a performance report which indicates you have $XYZ as of a certain period, you should externally verify this with your TD Ameritrade Institutional statement.

We are quite cognizant of the immense responsibility we have as stewards of your assets.

One other non-related mention. We update our website on a sporadic basis. For example in the last 30 days or so, we have added over 5 articles or notes to our site. We hear from clients and friends that these articles and notes are informative and often enjoyable reading for our clients. Typically you can find these articles in date order at this link http://rbcpa.com/commentary.html .

Here are some recent updates to the current commentary section of our site.

As always please call us with any questions or concerns. We are happy to talk with friends and clients. Both John O'Shaughnessy and I will be away from December 24th till the New Year. So if you need to speak, please call or email us before then.

ron

Ronald R. Redfield cpa, pfs
Redfield, Blonsky & Co. LLC
15 North Union Avenue
Cranford, NJ 07016-1103

December 15, 2008	Further Commercial Real Estate ramblings
December 12, 2008	Notes from Wachovia Commercial Real Estate (CRE) Conference 12/9/08
December 3, 2008	Excellent Commercial Real Estate Article written by Colony Capital.
November 24, 2008	Notes from 1929-1937 in the book, '101 Years on Wall Street'
November 12, 2008	Jamie Dimon, CEO and Chairman of JP Morgan Chase spoke at a Merrill Lynch Banking and Financial Services Conference.