The Planning Process
Our Process
Step 1: The Planning Process
Our proprietary four-step planning process begins with rigorous client discovery. We discuss where you want to be financially, your goals, objectives, timeframe, and risk tolerance. We go over your financial priorities including retirement, estate planning, and education, to name a few. We create an end goal that is measurable and achievable from the information provided. Each client meets with our principal, Brian Bischoff, to complete this process.
There are many types of investments and investment approaches available to clients in today’s market. What works well for someone else may not work well for you. That’s why we are here. Our goal is to create an investment approach and portfolio suitable to you, your goals, and your timeframes. Through our simple fee-only structure, clients pay a low quarterly fee directly to Bischoff Wealth Management. No third party money manager fees. No mark-up fees. Simply a fee charged for investment advice and service you’re getting directly from our office.
Step 2: Organization
We feel the proper organization is critical to a person’s long term investment success. We focus on two factors in organizing a portfolio:
Cost Efficiency
At Bischoff Wealth Management we place high importance on the cost associated with receiving advice, we built our firm to create the ultimate flexibility in pricing competitiveness. At Bischoff Wealth, we believe low cost, high-value fee structures are the best way to assist a client in achieving their financial goals and objectives.
Tax Efficiency
We believe how and where you own certain asset classes is just as important as what you own. Keeping taxes low is a key value-added measure we at Bischoff Wealth Management go to great length to maximize.
Step 3: Investment Process
Once we understand your goals, objectives, time frame, and risk tolerance through the Planning and Organization Process, we then help you invest your assets in the most cost and tax-efficient way possible.
This is what we refer to as the Investment Process where we begin investing your assets using a mix of low-cost, broad-based exchange-traded funds (ETFs) and mutual funds (typically through the Vanguard family of funds). In our opinion and experience, we feel the best performing funds or investments over time are the least expensive.
Your asset allocation and monitoring of that is a crucial element of how we assist you to manage your money. Throughout the planning and organization steps, we like to identify an asset allocation model that suits you and aims to give you the best and most comfortable way to achieve your goals and objectives.
We highly value the certainty of what an index fund or similar based fund will deliver relative to its benchmark. We want assurance that if you are going to take the risk associated with owning an asset class, you should also get the return. An index fund best delivers that certainty. We then manage this process around an asset allocation suited for each individual client’s needs.
"Performance comes, performance goes. Fees never falter." - Warren Buffett
Step 4: Monitoring and Managing the Portfolio
We believe that communication with our clients is the cornerstone of financial success, therefore, we stay in touch with you regularly. Your goals and objectives change constantly, so we want to be aware of any changes you may have professionally and personally so that we can quickly make sure you are on course to achieve new goals.
We believe in actively managed portfolios regardless of your risk tolerance. All investments, both conservative and aggressive, have some element of volatility. We feel volatility creates opportunity. We go to great lengths to proactively monitor and manage your portfolio. We believe in the cyclical nature of both the market and the economy. No one investment will always do well or poorly. Being disciplined in how we rebalance and invest a client’s portfolio through tax and cost efficiency is what will give our clients the best probability to achieve their financial goals and objectives.
*In addition to the advisory fees paid to BWMG, clients may also incur certain charges imposed by other third parties, such as broker-dealers, custodians, trust companies, banks and other financial institutions, including any such institutions recommended by the Firm These additional charges may include securities brokerage commissions, transaction fees, custodial fees, charges imposed directly by a mutual fund or ETF in a client’s account, as disclosed in the fund’s prospectus (e.g., fund management fees and other fund expenses), deferred sales charges, odd-lot differentials, transfer taxes, wire transfer, and electronic fund fees and other fees and taxes on brokerage accounts and securities transactions.
** These results are not representative of all of the Firm’s clients or the clients’ experiences. Past performance is no guarantee of future results. An individual’s experience may vary based on his or her individual circumstances and there can be no assurance that the Firm will be able to achieve similar results in comparable situations. These results are not to be interpreted as a testimonial or endorsement of the Firm’s investment advisory services and it is not known whether the clients referenced approve of the Firm or its services.