A fiduciary is someone who is required, by law, to do what is in the best interest of their clients. If an advisor is not a fiduciary, this means that the advice clients receive might not align with what’s best for them. It may be hard to believe, but most advisors are not required to act as fiduciaries in all client dealing like we are. For advisers that do not follow fiduciary standards, SEC does make them follow suitability standards. What that means is they do not have to do what is in your best interest, but rather just something that is suitable for you.
At Schulz Wealth, we are fiduciary advisers and always act in our clients best interests. A simple way to put it is, we do what we believe our clients would do if they had our experience and knowledge of investments.
Rob is a Certified Financial Planner (CFP) and Austin is a Chartered Financial Analyst (CFA). Rob and Austin are both Investment Advisers, meaning they have completed their Series 65 securities exams.
We only get paid by our clients for the advice that we provide. There are no backdoor commissions from investment companies or anything like that. Solely getting paid from our clients drastically minimizes conflicts of interest. We have no incentive to invest clients dollars one place or another, other than believing that is what is best for them.
To benefit the most, you should be committed to spend some time and effort towards your financial goals. The initial ramping up process takes 3-4 meetings. After new clients are onboarded, we are set to meet semi-annually during the first and third quarter. These meetings are important. In these meetings we will update anything that has changed over the past six months, and make sure we are still taking all of the necessary steps towards your desired goals.
Once the financial plan is created, we continually monitor it and update it every time we meet. After every meeting, you will have an updated financial plan representing our current outlook on your situation. On investing, we completely handle all of the investing for all of our clients. At the outset of our relationship, together we craft an Investment Policy Statement that serves as your instructions to us on how to invest your money. These instructions as well as the discretion you provide allows us to craft an investment portfolio that is tailored to your personal needs. We continually monitor this portfolio for you, making sure everything stays in line and we will make adjustments when necessary.
We provide two main services to our clients, comprehensive financial planning and asset management. We believe it is very difficult to invest money if there is not a clear plan directing the decision making. That is why every relationship begins with a planning discussion.
The financial planning includes creating a personal Balance Sheet and Cash Flow Statement for our clients. It is interesting to think how every company has these financial documents, but few individuals do. From these documents, and in collaboration with our clients, we create a financial plan. These documents are updated every time we meet to keep clients on track.
Part of the comprehensive financial planning is an insurance review. We do not sell insurance, but can still advise on it and make sure you are covered. No financial plan can be complete without an insurance review; making sure you are covered if something unforeseen happens.
The asset management service provided is a low cost investment portfolio tailored to meet your personal needs. Together we create an Investment Policy Statement on how to invest your money, and then we execute the strategy. Every Sunday you receive a short email summary of your account performance for that week. Many of our peers think we are crazy for reporting back to clients every week, but we feel that it is your money we are investing so it should be completely transparent how it is performing.
Anytime you have any questions, either Rob or Austin will be the ones helping you out. They act as a team and both attend client meetings, staying up to date on all client situations.
We schedule with our clients every six months for what we call our ‘big meeting’. This is the meeting where we review financials, make sure everything is on track and go over investment performance. Outside of those regular meetings, we are available via phone and email anytime you have a question. Whenever something financial related comes up and you would like our opinions/perspectives, we would love to discuss whatever is on your mind.
No, no one at Schulz Wealth has ever been subject to disciplinary or legal actions.
To get started, simply click here to schedule a call with us. We would love to talk with you and see how we can help you out.
For our initial conversation, bring anything you would like to discuss. Please also make sure you bring a most recent statement for any investments you may have. Other than that, we will just talk through your situation and can line out what we may potentially want to take a look at going forward.