A. Firm Information
Jacobson & Schmitt Advisors, LLC (“JSA” or the “Advisor”) is a registered investment advisor with the U.S.
Securities and Exchange Commission (“SEC”). JSA is organized as a Limited Liability Company (“LLC”) under the
laws of the State of Wisconsin. The Advisor was established in June 2006 and is owned and operated by Jason
N. Schmitt (Principal and Chief Compliance Officer), Richard Vanden Boogard (Principal and Lead Advisor) and
Adam Sweet (Principal and Senior Portfolio Manager). This Disclosure Brochure provides information regarding
the qualifications, business practices, and the advisory services provided by JSA.
B. Advisory Services Offered and C. Client Account Management
JSA offers Investment management, Retirement planning, and Financial planning which includes such topics as
cash flow analysis, college planning, social security analysis, tax strategy as it relates to your planning and
investments, Legacy/Charitable planning and more importantly we help our clients manage their emotions related
to finances during difficult times. Our clients are, but are not limited to, individuals, high net worth individuals,
trusts, estates, retirement plans and charitable organizations (each referred to as a “Client”).
The Advisor serves as a fiduciary to its Clients, as defined under the applicable laws and regulations. As a
fiduciary, the Advisor upholds a duty of loyalty, fairness and good faith towards each Client and seeks to mitigate
potential conflicts of interest. JSA’s fiduciary commitment is further described in the Advisor’s Code of Ethics. For
more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in
Client Transactions and Personal Trading.
Philosophically, JSA believes a financial services firm should have responsibility at its core. Responsibility
permeates our culture, from the advice we give our Clients, to our hands-on personal service, to investing in
responsible companies that share our mentality.
The Advisor’s approach consists of two areas of focus:
1. Responsibility to our Clients – JSA only advises Clients on investments that JSA trusts and believes in —
so much that Supervised Persons of JSA often include the investments in their own personal portfolios.
JSA firmly believes this is the only way to do business as a financial services firm, and that this
commitment is one of the keys that make us different than other portfolio managers. Additionally, JSA
believe there’s no one-size-fits-all when it comes to financial planning and investing. JSA believes its best
work by understanding your “big picture.” That’s why JSA spends so much time up front getting to know
your unique situation and desires, so JSA can deliver a customized plan that’s designed specifically with
your goals in mind.
2. Responsibility to the Community – As responsible asset managers, JSA invest in securities of companies
that we expect to yield high returns while remaining committed to corporate social responsibility. This
means JSA seeks out companies that are part of the solution rather than part of the problem – companies
that engage in fair business practices from all standpoints: fair to shareholders, to employees and to the
environment. In short, JSA invests in companies that both JSA and our Clients can be proud to own.
Wealth Management Services
JSA’s wealth management services consist of three areas of focus, purposeful planning, conscious investing, and
thoughtful advice. Here’s a brief summary of our areas of focus:
● Purposeful Planning – JSA understands that no two Clients are the same. That’s why the Advisor works
closely with each Client to create a customized financial plan that fits the Client’s unique circumstances.
What’s more, Clients can take comfort in knowing that all our financial planning services are exclusively
designed to help you achieve your financial goals, not sell you extra products. In this relationship, JSA act as
the Client’s personal CFO, helping coordinate finances with accountants and estate attorneys, as well as
guiding Clients through the many steps of smart investing, such as financial planning preparation, portfolio
management and analysis, saving for major life events, and retirement spending.
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To better understand Client’s goals and objectives, JSA conducts a full financial planning session, which
generally includes these steps:
o Step 1: First, the Advisor will assess the Client’s financial and personal assets.
o Step 2: The Advisor gets to know more about the Client’s lifestyle, event milestones, retirement plans,
dreams and more.
o Step 3: The Advisor will help Client’s define retirement goals and understand what’s achievable.
o Step 4: The Advisor will implement a strategy that matches the Client’s goals, assets, tax situation,
trade-offs, and personality.
o Step 5: The Advisor will consistently monitor household portfolio to ensure it meets the Client’s
objectives.
o Step 6: JSA continually remains available if the Client’s needs should change.
● Conscious Investing – JSA’s investment advice is generally limited to stocks, bonds (including municipal
bonds), exchange-traded funds (herein “ETFs”), mutual funds, alternatives, and 529 College Plans. Investing
that supports your goals and values. The vast majority of Clients invest in the Advisor’s individual security
portfolios. These portfolios typically include 20 to 30 stocks of companies and an allocation to bonds for
stability. As a rule, JSA invests in companies that have a high potential for returns but also practice corporate
social responsibility, so Clients can be proud of the assets that are owned. JSA believes in the investments
recommended to Clients and therefore, our Supervised Persons typically own the same investment in their
own personal portfolios.
With this commitment to responsible and like-minded investing, Clients gain satisfaction in knowing that
investments are supporting companies with a conscience – and that JSA always has your best interests at
heart. Nonetheless, JSA understands that this strategy does not necessarily work for every Client. In these
cases, the Client may opt to use a low-cost fund portfolio rather than the Advisor’s individual security
portfolios.
Once JSA has locked down the Client’s investment strategy, Clients enjoy the following benefits:
o Every quarter, Clients are sent investment performance reports, security values, and our investment
commentary.
o JSA will discuss tax-related items such as capital gains, account structure, and more.
o JSA is available when adjustments are necessary.
o JSA helps Clients monitor other accounts, even if they aren’t managed by JSA, so Clients
can
ascertain whether all assets are working toward the Client’s goals.
o Clients have access to their portal page where accounts may be reviewed, quarterly JSA statements
are stored, commentary, and a summary of your financial plan.
● Thoughtful Advice – The Advisor gets to know its Clients on a deep level, so that the advice given is always
personalized and tailored to the Client’s goals and dreams.
For over 20 years, JSA’s management team has worked hard to deliver thoughtful financial advice that gives
individuals and small entities the same investment advantages that larger investors enjoy. But the biggest
difference lies in JSA’s values and culture.
JSA Supervised Persons are often asked, “Why should we work with you?” The response is that Clients get
so much more than just investment advice. JSA has built an organization around the idea that there is a deep
responsibility to Clients. The Advisor thinks like investors, not salespeople, which means JSA won’t try to sell
you unnecessary products or get more business that doesn’t serve the Client’s needs. Instead, the Advisor is
laser-focused on successful outcomes and, hopefully, a little bit more. It’s the “more” that drives JSA.
Sentimental Holdings - On a case-by-case basis, JSA may provide Clients with assistance in executing trades in
order to aid Clients in self-management of their accounts. JSA is providing this service without a fee. However,
the Client is still liable to pay all fees associated with the Custodian and any transactions in-regards to the trades
and account maintenance.
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Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement
accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the meaning of Title I of the
Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable,
which are laws governing retirement accounts. When deemed to be in the Client’s best interest, the Advisor will
provide investment advice to a Client regarding a distribution from an ERISA retirement account or to roll over the
assets to an IRA, or recommend a similar transaction including rollovers from one ERISA sponsored Plan to
another, one IRA to another IRA, or from one type of account to another account (e.g. commission-based account
to fee-based account). Such a recommendation creates a conflict of interest if the Advisor will earn a new (or
increase its current) advisory fee as a result of the transaction. No client is under any obligation to roll over a
retirement account to an account managed by the Advisor.
Financial Planning Services
JSA also offers comprehensive financial planning services on an ongoing basis. As with the “Purposeful Planning”
component of the Advisor’s wealth management services, Clients can take comfort in knowing that all of JSA’s
financial planning services are exclusively designed to help you achieve your financial goals, not sell you extra
products. In this relationship, JSA will act as the Client’s personal CFO, helping coordinate finances with
accountants and estate attorneys, as well as guiding Clients through financial planning preparation, asset
allocation and analysis, saving for major life events, and retirement spending.
To better understand Client’s goals and objectives, JSA conducts a full financial planning session, which includes:
● Step 1: assessing the Client’s financial and personal assets.
● Step 2: getting to know more about the Client’s lifestyle, event milestones, retirement plans, dreams and
more.
● Step 3: helping Client’s define retirement goals and understand what’s achievable.
● Step 4: implementing a strategy that matches the Client’s goals, assets, tax situation, trade-offs, and
personality.
● Step 5: monitoring the household portfolio to ensure it meets the Client’s objectives and being available
for questions as the Client’s needs change.
Retirement Plan Advisory Services
JSA provides investment management services to plan sponsors of 401(k), profit sharing and retirement plans
(each the “Plan”), subject to the Employee Retirement Income Security Act of 1974. JSA creates and
recommends a range of asset allocation models, each consisting of a diversified mix of asset classes for the Plan.
In addition, the Advisor recommends the underlying asset classes for the models and recommends at least one
investment security for each underlying asset class. Usually, these securities consist of ETFs and mutual funds.
The Advisor does not sponsor, nor is the Advisor affiliated with, any of the underlying investments in the Plan.
JSA will provide the Plan (or an authorized delegate thereof) with:
a) A statement of investment policy according to which JSA will provide investment management services.
b) JSA will perform the following investment management services, consistent with the JSA Investment Policy
Statement (“IPS”), with respect to the Plan assets:
i. JSA will review the investment options available through the Plan and will notify the Plan’s record-keeper
as to Firm’s instructions to add, remove, and/or replace specific “core” investment options to be offered to
the Plan’s participants that meet the criteria set forth in the Firm’s IPS.
ii. JSA will monitor the core investment options and, on a regular basis, provide instructions to the Plan’s
record-keeper to remove and/or replace investments that no longer meet the Firm’s IPS criteria. JSA will
retain final decision-making authority with respect to removing and/or replacing investments in the core
lineup and, except as may be described in this Agreement, the Plan will not have the responsibility to
communicate instructions to any third-party, including the Plan’s record-keeper, custodian and/or third-
party administrator.
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c) If the due diligence methodology described in the Firm’s IPS changes, such changes shall be stated in the
Annual Monitoring Report. Upon written request, the Plan may obtain a copy of the most recent IPS
methodology used by JSA.
JSA provides 3(38) discretionary investment advisory services on behalf of the Plan and Plan Sponsor. The
Advisor shall have the discretion to select the investments for the Plan and/or make investment decisions on
behalf of Plan Participants.
D. Wrap Fee Programs
JSA does not manage or place Client assets into a wrap fee program. Wealth management services are provided
directly by JSA.
E. Assets Under Management
As of December 31, 2023, the Advisor manages $461,151,832 in Client assets, all of which are managed on a
discretionary basis. Clients may request more current information at any time by contacting the Advisor.