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Ongoing Advice From GA Bishop and Associates
Once the initial financial plan is developed and implemented, our clients must determine what level of ongoing support they desire from GA Bishop and Associates. To simplify this process, we have developed four distinct programs that provide varying levels of support, designed to meet the way you want to manage your financial plan. Each program is designed to support the recommendations developed during the Financial Problem Solving or Financial Planning engagements, but with a different approach depending on the desires of the client.
Ř Level 1 - Client Self-Directed Program
A. No Cost, No Commitment
B. For those who want no ongoing monitoring by GABA
C. Includes the following:
· GABA will answer questions regarding implementation of the initial engagement for 60 days following the Presentation Meeting.
· GABA is not responsible for any other advice or communication after the 60 day period following the Presentation Meeting.
· Future advice is requested by the client as needed and billed at current hourly rates.
Ř Level 2 - Annual Advice and Review Program
A. Cost of $500 per year
B. For those who want GABA to proactively involved in regular plan updates
C. Includes the following:
· GABA will answer questions regarding implementation of the initial engagement for 60 days following the Presentation Meeting.
· GABA will periodically notify you by email, regular mail, fax or phone of changes in the law, tax code, or financial markets, which might affect the undersigned’s investments, insurance, estate plan, financial plan and prior recommendations made by GABA.
· Annual Meeting - You agree to schedule and attend an annual review meeting to be held no later than September 30 of each year. The annual review includes changes in life situations, investments, and review of tax returns so that current advice may be rendered By GABA for the accomplishment of your stated goals.
· As an added bonus, you will receive a fifteen percent (15%) credit against our fee for all additional hourly work performed for you during the term of this Program, with the credit for any year not to exceed the $500 fee for that year.
Ř Level 3 - Enhanced Annual Advice and Review Program
A. Cost of $800 per year
B. For those who want GABA all of Level 2's services, plus periodic updates telling you when to make adjustments to your portfolio allocation
C. Includes the following:
· GABA will answer questions regarding implementation of the initial engagement for 60 days following the Presentation Meeting.
· GABA will periodically notify you by email, regular mail, fax or phone of changes in the law, tax code, or financial markets, which might affect the undersigned’s investments, insurance, estate plan, financial plan and prior recommendations made by GABA.
· Periodic Portfolio Allocation Updates - GABA will periodically notify you by email of any allocation changes to the Portfolio GABA recommended to you in a previous engagement. These updates can occur zero, one or many times throughout the year, as conditions, in GABA’s opinion, warrant.
· Semi-Annual Meeting – After approximately six months, we will meet to review the Portfolio progress and discuss any necessary rebalancing instructions for you to implement. Each meeting may last up to one hour and any other financial planning topics may be discussed once the Portfolio review is complete.
· Annual Meeting - After approximately twelve months, we will meet to review and update key aspects of your Financial Life Plan, if GABA was engaged to develop an initial one for you. We will also discuss any portfolio changes necessary as a result.
· Investment Policy Statement – Upon initial creation of the portfolio, we will develop a document that outlines the goals and approach for the portfolio and the potential for rewards and risks. This will serve as the governing document for future asset allocation choices.
· Personal E-mail Support Specific to Portfolio – Questions about implementation of the Portfolio recommendations are answered via e-mail or phone as necessary.
· As an added bonus, you will receive a fifteen percent (15%) credit against our fee for all additional hourly work performed for you during the term of this Program, with the credit for any year not to exceed the $800 fee for that year.
Ř Level 4 - GABA-Managed Account Program:
A. Cost is one of three amounts, depending on portfolio size:
· $100 per month for less than $500,000 in managed assets
· $125 per month for $500,000 - $999,999 in managed assets
· $150 per month for greater than $1,000,000 in managed assets
B. For those who want GABA to actually have the discretion to implement and manage your investment portfolio for you.
C. Includes the following:
· All of Level 3 services, plus GA Bishop and Associates takes care of all portfolio implementation and management, as well as records maintenance for performance and tax reporting purposes.
Note – 401(k), 403(b) and variable annuity accounts, etc. cannot be managed by GABA.
· Quarterly Reports – You will receive a quarterly progress report for your portfolio, including:
i. Performance Analysis – Rates of return for your portfolio measured against an appropriate benchmark.
ii. Realized Gains/Losses, so you don’t have to keep messy transaction records or pay someone to calculate gains and losses for tax purposes.
Note - The higher monthly fees for the higher dollar levels of managed assets are strictly due to increased time and expenses on our part, such as the level of risk assumed, additional investment complexity, additional transaction effort, etc.
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