Investment management: one service, and what it includes.
The portfolio is built around what it has to do, not around a model.
One service, not a menu
We offer one advisory service: Comprehensive Portfolio Management: investment management, with financial planning and consulting included at no additional cost. Not a menu, not tiers, not a separate planning fee.
Our only compensation is the fee our clients pay us directly. There is no product we earn more by recommending, because there is no product.
Fees, billing, and account requirements are described in Item 5 of our Form ADV Part 2A.
How the allocation gets built
When we manage investments, the allocation is built around what the portfolio needs to do, not a one-size model.
Seven things decide it: retirement objectives, risk capacity, asset allocation, portfolio construction, tax considerations, income strategy, and ongoing monitoring. Each one is set out on retirement income planning, where the framework lives.
Investing involves risk, including possible loss of principal. No strategy (including asset allocation and diversification) guarantees a profit or protects against loss in a declining market.
What the portfolios hold
Client portfolios are built primarily from:
- Exchange-traded funds
- Mutual funds
- Individual stocks
- U.S. government and agency bonds
- Cash and cash equivalents
Each portfolio is built around what it has to do for that household: the objectives, the timeline, and how much variability the plan can absorb.
What they do not hold
We do not recommend, hold, or advise on digital assets, cryptocurrencies, or related products of any kind. We do not offer hedge funds, commodity pools, private placements, or other alternative investments.
Structured products and options are not part of our standard portfolios and are not currently held in client accounts.
Where your money is held
Client assets are held at Charles Schwab & Co., Inc., member SIPC, independent of and unaffiliated with the Firm. You receive statements at least quarterly directly from Schwab and should compare them against anything you receive from us.
We are deemed to have custody because we deduct advisory fees directly from client accounts.
Schwab makes products and services available to us at no cost, some of which benefit only the Firm. That is a conflict of interest and it is described in full in Items 12 and 14 of our brochure.
Retirement Income Planning457(b) and 403(b)About the firmLegal Information and Disclosures
This page is educational and is not individualized advice. Benowitz Wealth Management is not affiliated with, endorsed by, or sponsored by the Florida Retirement System, the Florida Division of Retirement, or the State Board of Administration of Florida. Confirm the figures that apply to your own record at MyFRS.com or with the Division of Retirement.
One service, described plainly. If it fits what your plan needs, we can talk it through.
Independent, fee-only retirement planning for Florida’s public employees, built around your FRS benefit and everything you’ve built on the side.
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