About Berno Financial Management


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See what Berno Financial Management is all about, and how we can help you successfully manage your personal finances and investments.

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About Berno Financial Management

  1. 1. BERNO FINANCIAL MANAGEMENT For Financial Peace of MindCREATING FINANCIAL PEACE OF MINDYou’ve worked hard to accumulate your wealth. But you may not have the time, or the expertise, to overseeall aspects of your financial life on your own. At Berno Financial Management, we work with you to develop acomprehensive financial plan that will cultivate your financial security and peace of mind.HELPING YOU DEVELOP A STRONG FINANCIAL PLANSince 1993, Berno Financial Management, Inc., has helped proactive plan as well as an investment portfolio proposal using a “Totalindividuals and their families make the most of their personal Portfolio Approach” that considers all your different assets together.finances. As an independent, fee-only management firm, we offer Our advice is academically based and grounded in the belief that aunbiased advice as part of our comprehensive personal financial passive, low-cost, tax-efficient, multi-asset class investment strategyplanning and investment management services. We concentrate on is the best way to achieve the investment returns needed to meet yourdeveloping close personal relationships with our clients, focusing on goals over the long term.their complete financial picture. We also coordinate our advice with Our team is led by Bruce J. Berno, a CERTIFIED FINANCIALother specialized advisors, such as CPAs, attorneys and insurance PLANNER™ professional. Berno Financial Management, Inc., is aprofessionals, making referrals as needed. member of the National Association of Personal Financial Advisors “WE TAKE THE TIME TO LEARN ABOUT YOUR (NAPFA), the industry’s most selective professional association. We CURRENT FINANCIAL SITUATION AS WELL AS have been recognized locally and nationally as an expert financial YOUR LONG-TERM GOALS AND NEEDS.” management firm, having been included in the Top Wealth Manager’s List in Bloomberg Wealth Manager since 2001, and being named We believe that financial planning involves more than just investment as a 2010 Five Star Wealth Manager by Five Star Professional and management. Instead, we take the time to learn about your complete Cincinnati Magazine. current financial situation, as well as your long-term goals and needs. We then use that information to develop a comprehensive financial Berno Financial Management, Inc. | 7454 Jager Ct., Cincinnati, OH 45230-4344 | Phone: (513) 474-9191 | www.bernofinmgt.com
  2. 2. BERNO FINANCIAL MANAGEMENT For Financial Peace of MindWHAT WE DOAt Berno Financial Management, we offer comprehensive financial planning services. We can help answeryour questions and address your concerns about a wide array of financial issues, including: INVESTMENT MANAGEMENT CASH FLOW MANAGEMENT EMPLOYEE BENEFIT PLANS RETIREMENT PLANNING ESTATE PLANNING EDUCATION FUNDING INCOME TAX MANAGEMENT INSURANCE NEEDS CHARITABLE GIVING STRATEGIESSERVICE OFFERINGSPERSONAL WEALTH MANAGEMENT FINANCIAL PLANNING CONSULTATIONOur Personal Wealth Management service considers your complete Our Financial Planning Consultation is a modular or comprehensivefinancial picture. It helps you and your family address the various financial plan with limited investment advice. It is limited in scope andfinancial questions, issues and concerns that arise throughout each designed for clients who do not need Personal Wealth Managementstage of life, from retirement planning and managing income taxes or who will qualify for Personal Wealth Management in the future.to developing an estate plan or funding a child’s college education. During the Financial Planning Consultation, we’ll help clients addressPersonal Wealth Management is a continuous process that includes specific financial questions, such as:investment management. This offering involves a long-term • Do we have appropriate insurance coverage?relationship with the Berno Financial Management team and is the • How much do we need to save for college for our children?service used by the great majority of our clients. • Can I retire in five years and not outlive my money? Berno Financial Management, Inc. | 7454 Jager Ct., Cincinnati, OH 45230-4344 | Phone: (513) 474-9191 | www.bernofinmgt.com
  3. 3. BERNO FINANCIAL MANAGEMENT For Financial Peace of MindHOW WE WORKHelping you reach your goals is at the core of our financial planning process. When you become a BernoFinancial Management client, we’ll engage in the following process as we develop your financial plan:OUR FINANCIAL PLANNING PROCESS INCREASING YOUR CREATING AND MANAGING YOUR GETTING TO KNOWLEDGE AND IMPLEMENTING INVESTMENTS AND KNOW YOU DEVELOPING REALISTIC YOUR INVESTMENT MONITORING YOUR EXPECTATIONS PORTFOLIO FINANCIAL PLAN GETTING TO KNOW YOU WHAT YOU’LL RECEIVE We begin with a thorough data-gathering process so that we You’ll receive, in a staged sequence, up to five questionnaires: can understand your unique situation and goals. During this • Let’s Get Started Part 1: You provide your primary financial stage, we ask you to complete questionnaires that provide: concerns, key objectives, and basic family and financial data • Both quantitative and qualitative information about your • Let’s Get Started Part 2: You identify qualitative factors that personal finances, concerns and goals influence your financial decision making and goals • A self-assessment of your current financial situation • Let’s Get Started Part 3: You provide detailed quantitative • A psychographic profile of your investment return information about your current financial situation, including expectations and financial decision making process assets, debts, insurance, investments and estate planning • Depending on your stage of life and circumstances, your • Personal Financial Risk Profile: You provide information on financial needs and goals during retirement your investment return expectations, financial decision making and risk tolerance • Your Financial Goal Plan Personal Retirement Projection Questionnaire: You identify and prioritize needs and goals during retirement, including ideal versus acceptable dollar amounts
  4. 4. BERNO FINANCIAL MANAGEMENT For Financial Peace of MindINCREASING YOUR KNOWLEDGE ANDDEVELOPING REALISTIC EXPECTATIONS WHAT YOU’LL RECEIVEOur team provides an educational introduction, tailored You will receive:to your level of curiosity and interest, of our approach to • Investments 101: Client Education Binderfinancial planning and investment management so that we can: • Independent, third-party academically based investment• Help each client develop a basic understanding of financial research planning principles • Depending on your stage of life and circumstances, a• Clearly communicate our investment philosophy Financial Goal Plan Personal Retirement Projection• Establish your investment objectives and policies identifying your goals and the probability of achieving themCREATING AND IMPLEMENTING YOURINVESTMENT PORTFOLIO WHAT YOU’LL RECEIVEUsing the information gathered in Step 1, we create a We provide you with:personalized investment plan tailored to meet your specific • An Investment Portfolio Proposalfinancial situation and plan. To do this we: • An Investment Policy Statement, which will be revised and• Create a portfolio proposal factoring in strategic asset updated as needed allocation, asset location, tax efficiency and cash flow considerations• Present the proposal to you for your review and approval• Prepare an Investment Policy Statement• Implement the Total Portfolio ApproachMANAGING YOUR INVESTMENTS ANDMONITORING YOUR FINANCIAL PLAN WHAT YOU’LL RECEIVEWe manage your investments over the long-term by: We provide frequent reports and updates so that you are always informed of the status of your investments, including:• Conducting ongoing review and monitoring • Monthly Quick Summary Portfolio Reports• Revising and rebalancing your portfolio as necessary • Quarterly Custom Portfolio Reports• Delivering regular reports on the status of your investments • Annual Investment Review • Annual Net Worth Report • Annual Cash Flow Reports • Financial Plan, Estate Plan and Insurance Reviews as needed, typically every five years Berno Financial Management, Inc. | 7454 Jager Ct., Cincinnati, OH 45230-4344 | Phone: (513) 474-9191 | www.bernofinmgt.com
  5. 5. BERNO FINANCIAL MANAGEMENT For Financial Peace of MindOUR INVESTMENT PHILOSOPHYWe believe in broad diversification to optimize risk and return and we manage your portfolio with income tax efficiency and cash flowconsiderations in mind. Our investment philosophy is grounded on objective, academically based models that minimize marketforecasting or prognostications.Based on our thorough initial data gathering, we develop a complete picture of your current financial situation, your investment return needsand expectations, and your risk tolerance. With this information in hand, we’re able to develop an investment portfolio designed to create thereturns you need to reach your longer term goals while also minimizing your risk. Because we believe that cash flow is a major determinant offinancial success, we strive to develop a plan that generates the necessary cash flow to sustain your desired lifestyle over the long term.OUR FOUR CORE PRINCIPLESAs we work with you to develop an appropriate financial plan and investment portfolio, we keep four core principles in mind: TOTAL PORTFOLIO APPROACH We use an asset allocation and asset location strategy to integrate and coordinate all of your family accounts, including: • Single, joint and trust accounts • Traditional or rollover IRAs • Annuities • Custodian accounts for minor children • Roth IRAs • Non-qualified retirement plans • 529 college savings plans • 401(k), profit-sharing or employer plans • Employer stock options BROADLY DIVERSIFIED PORTFOLIO We are strong believers in diversification and use a “multi-asset class” strategy for diversification. Investments may include: • U.S. stocks, diversified by size and • Real estate investment trusts • Corporate, government or investment style municipal bonds • Commodities • International and emerging market stocks • Inflation-protected bonds • Low-volatility investments RISK AND RETURN ARE RELATED (THE 3 R’S) Every investor wants a low-risk portfolio but low returns may not enable you to reach your goals. The return needed to meet your goals may require a higher level of risk. MINIMIZE FUND FEES, EXPENSES AND INCOME TAXES All other things being equal, lower costs and lower taxes mean higher net returns. We cannot control stock market conditions or interest rates, but we can add value by minimizing costs and income taxes. Net returns are what count. Berno Financial Management, Inc. | 7454 Jager Ct., Cincinnati, OH 45230-4344 | Phone: (513) 474-9191 | www.bernofinmgt.com
  6. 6. BERNO FINANCIAL MANAGEMENT For Financial Peace of MindWHY CHOOSE BERNO FINANCIAL MANAGEMENT?Not all financial services firms are created equal. Berno Financial Management offers clients a unique value based on ourindependent advice, fee-only, fiduciary services and comprehensive approach to planning. In addition, our client-focusedapproach and commitment to professional continuing education ensure that we provide the best possible service to clients.HOW WE’RE DIFFERENTINDEPENDENT ADVICE CLIENT-FOCUSEDWe are independent and are not affiliated with any brokerage firm, We are a small firm, offering personalized attention and strong long-bank, mutual fund, insurance company, accounting firm or law firm. term client retention. Our client service is “process-driven”; we get toOur team provides completely objective advice, with referrals made know each client on a personal level, and our initial data gatheringto specialists as necessary. The services we provide are coordinated is extensive and detailed. We know that all of our clients want to bewith your other professional advisors to meet your needs. financially successful, secure and responsible, and they choose to work with us because they lack the time and experience to manageFEE-ONLY FIDUCIARY ADVISOR their finances on their own.We are paid solely by you with a fully disclosed fee based on aflat fee and percentage of investment assets, flat fee or hourly NATIONALLY RECOGNIZED AND CREDENTIALEDrate. This avoids potential conflicts of interest caused by sales We are a member of the National Association of Personal Financialcommissions or incentive awards. We act as a fiduciary and put Advisors (NAPFA) and have been included in the Top Wealthour client’s interests first. Manager’s List in Bloomberg Wealth Manager since 2001. Our firm was also named as a 2010 Five Star Wealth Manager by Five StarCOMPREHENSIVE PLANNING Professional and Cincinnati Magazine. In addition, each memberWe offer a broad array of personal wealth management and of our client services team is deeply committed to participating ininvestment advisory services, which are tailored to each client’s ongoing continuing education efforts so they can offer the bestspecific needs. Our firm’s specialties are cash flow management, possible service to clients.investment advisory services, retirement planning and estateplanning. Berno Financial Management, Inc. | 7454 Jager Ct., Cincinnati, OH 45230-4344 | Phone: (513) 474-9191 | www.bernofinmgt.com