Is the Engel & Volkers National Marketing and Technology Fund held in trust?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
All Marketing and Technology Fund contributions to the National Marketing and Technology Fund will be deposited in our general operating account. Upon written request, we will furnish you with an annual financial statement for the National Marketing and Technology Fund. These annual financial statements are usually available on or about April 30th of each year. You may request to inspect the books and records related to the National Marketing and Technology Fund during our normal business hours. If the total contributions to the National Marketing and Technology Fund exceed the expenditures from the fund in any calendar year, the excess will be retained in the fund for future Marketing and Technology Fund expenses.
The National Marketing and Technology Fund is not held in trust and we do not manage the fund in a fiduciary capacity. The National Marketing and Technology Fund is not audited.
All National Marketing and Technology Fund contributions and interest, dividends and other amounts earned will be used exclusively on national, regional or local media, other marketing techniques, technologies, or programs designated to communicate the services of the franchisees on a national level to the public in our sole discretion, as well as for any creation and production costs incurred by us, including providing the Integrated Product Suite to you, copies of the GG Magazine magazine, as well as for any creation and production costs incurred by us and for any reasonable accounting, bookkeeping, reporting, administrative and legal expenses and out-of-pocket costs associated with the National Marketing and Technology Fund and for other purposes deemed appropriate by us to enhance and promote the general recognition franchisees. of administering, directing, preparing, placing and paying for national, regional or local advertising, including (without limitation): television, radio, magazine, newspaper and worldwide
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 43–54)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the National Marketing and Technology Fund is not held in trust. Engel & Volkers also does not manage the fund in a fiduciary capacity, and the fund is not audited.
All contributions to the National Marketing and Technology Fund will be deposited in Engel & Volkers' general operating account. However, Engel & Volkers will furnish franchisees with an annual financial statement for the fund upon written request. These statements are typically available around April 30th each year. Franchisees also have the option to inspect the books and records related to the fund during Engel & Volkers' normal business hours.
If the total contributions to the National Marketing and Technology Fund exceed the expenditures in any calendar year, the excess will be retained in the fund for future expenses. All contributions, interest, dividends, and other amounts earned will be used exclusively on national, regional, or local media, marketing techniques, technologies, or programs designed to communicate the services of the franchisees to the public. These funds can also be used for creation and production costs, including providing the Integrated Product Suite and copies of the GG Magazine magazine, as well as for reasonable accounting, bookkeeping, reporting, administrative, and legal expenses associated with the fund.