A. Description of the Advisory Firm
B. Types of Advisory Services
Financial Planning
Financial plans and financial planning may include, but are not limited to: investment
planning; life insurance; tax concerns; retirement planning; education planning; and
debt/credit planning.
Investment planning involves working with clients to make sure their investments match
their respective risk tolerance and goals. Tax concerns are addressed by working with the
client to determine and compare effective tax rates for income, capital gains and other
earnings or investments, then attempting to allocate the client’s resources accordingly.
Life insurance planning entails reviewing the life insurance and/or disability insurance
needs of the client, together with any applicable dependents, spouse or other relatives,
and assessing appropriate coverage for these individuals. College planning entails
helping clients save for higher education, whether for the client or his/her children or
other dependents, in the ideal manner to suit the client’s overall financial goals and means.
Financial planning to address retirement entails making sure clients are financially
equipped for retirement in light of the client’s anticipated income and expenses,
investments, and other assets. Debt/credit planning consists of breaking down client
budgets and aiding clients in decision-making as to current debt, anticipated significant
expenses and potential debt, and avoiding excessive debt.
Services Limited to Specific Types of Investments
BKWM, LLC generally limits its investment advice to mutual funds, fixed income
securities, real estate funds (including REITs), insurance products including annuities,
private equity funds, equities, ETFs and non-U.S. securities. BKWM, LLC may use other
securities as well to help diversify a portfolio when applicable.
BKWM, LLC will tailor a program for each individual client. This will include an
interview session to get to know the client’s specific needs and requirements as well as a
plan that will be executed by BKWM, LLC on behalf of the client. BKWM, LLC may use
model allocations
together with a specific set of recommendations for each client based
on their personal restrictions, needs, and targets.
Given that BKWM, LLC focuses investments on meeting the goals of the individual client,
the mix between the Income and Growth Portfolio is based on the amount of income the
individual client needs to meet their goals. In addition, a lot of the clients will have large
company stock positions - each individual is different in the amount of stock they own
and will choose to diversify those holdings differently.
Clients may impose restrictions in investing in certain securities or types of securities in
accordance with their values or beliefs. However, if the restrictions prevent BKWM, LLC
from properly servicing the client account, or if the restrictions would require BKWM,
C. Client Tailored Services and Client Imposed Restrictions
LLC to deviate from its standard suite of services, BKWM, LLC reserves the right to end
the relationship.
A wrap fee program is an investment program where the investor pays one stated fee that
includes management fees, transaction costs, and certain other administrative fees.
BKWM, LLC does not participate in wrap fee programs.
BKWM, LLC has the following assets under management:
Discretionary Amounts: Non-discretionary Amounts: Date Calculated:
$145,057,516 $0 December 31, 2022
Portfolio Management Fees
Total Assets Under Management Annual Fees
First $1,500,000 2.00%
Next $1,500,000 1.75%
Next $2,000,000 1.50%
Next $5,000,000 1.00%
Over $10,000,000 Negotiable
The advisory fee is calculated using the value of the assets in the Account on the last
business day of the prior billing period.
These fees are generally negotiable and the final fee schedule will be memorialized in the
client’s advisory agreement. Clients may terminate the agreement without penalty for a
full refund of BKWM, LLC's fees within five business days of signing the Investment
Advisory Contract. Thereafter, clients may terminate the Investment Advisory Contract
immediately upon written notice.
D. Wrap Fee Programs
E. Assets Under Management