Bishop & Company is owned by one principal, Michael W. Bishop. We have been in business since
March 2008 as a fee-only investment management firm. This means we are only compensated by
fees paid to us directly by our clients. We receive no other sources of compensation.
We provide the following services to our clients:
1) Discretionary Investment Management.
2) Investment Consulting for Plan Sponsors of Participant-Directed Retirement Plans; and
3) Research and Consulting Services.
Each of these services is more fully described below:
Discretionary Investment Management (referenced as “Discretionary Client”).
The services that we offer to you as a Discretionary Client include the following:
• Assist in designing your long-term investment objectives by identifying your: rate of return
goals, investment time horizon, available resources, and risk tolerance,
• Recommend an asset allocation based on your investment objectives,
• Identify investment securities suitable for your asset allocation,
• Supervise and administer the investment of your portfolio’s assets,
• Monitor the performance of your portfolio’s assets,
• Rebalance your portfolio back to your asset allocation targets as needed, and
• Review how changes in your financial situation impact your asset allocation and portfolio
holdings.
The accounts we manage for you will be assigned one of the following three investment
objectives:
o Long-Term Growth (100% maximum allocation to equities)
o Moderate Growth (75% maximum allocation to equities)
o Conservative Growth (40% maximum allocation to equities)
Within these three broad investment objectives, we will define a specific asset allocation
target for your accounts. For example, you may have a written investment objective with us
stating “Moderate Growth”, with a specific target of 70% equities and 30% bonds and money
market for your combined accounts.
After your asset allocation is determined and initial investments are made, we will continue
to monitor your accounts. We monitor your accounts to determine if your portfolio position
weightings have moved outside of the investment objectives we have established for you. If
so, we will rebalance your accounts by executing trades through your custodian, to achieve
alignment with your determined investment objective.
To ensure that our initial determination of an appropriate investment allocation continues to
be suitable and that your accounts continue to be managed consistent with your financial
circumstances, we will 1) send written reminders to you requesting any updated information
regarding changes in your financial situation and/or investment objectives, 2) contact you
periodically to determine whether there have been any changes in your financial situation
and/or investment objectives, and 3) be reasonably available to consult with you.
We believe the most prudent way to build long-term wealth is to broadly diversify your
accounts using Exchange Traded Funds (“ETFs”) and no-load mutual funds. However, client
accounts are not precluded from owning other security types. In some cases, we will invest
in securities that are not ETFs or mutual funds and instead use individual stocks, bonds, or
annuities. You do have the right to impose reasonable restrictions on your account
investments. As a rare exception, you may direct
us in writing to make an accommodation to
purchase a security for your account that we did not select. For a security you direct us to
purchase or hold, we will not include it in our due diligence or ongoing review.
All clients sign an Investment Management Agreement before receiving the above services.
Mutual funds and ETFs owned in your accounts charge their own fees that are separate from
the fees we charge. Any additional fee is disclosed in the securities prospectus and should be
reviewed before making an investment.
We do not receive additional compensation from any of the securities we recommend.
We do not participate in any wrap-fee programs.
Investment Consulting for Plan Sponsors of Participant-Directed Retirement Plans (referred
to as Plan Sponsor Client).
The services that we offer to you as a Plan Sponsor Client of a 401(k) or 403(b) plan include the
following:
• Assist in the coordination of a record-keeper and custodian to enable your plan to offer a
comprehensive retirement plan solution,
• Make recommendations for the design and lineup of diversified investment options for your
plan participants,
• Design model portfolio recommendations for your plan participants using the fund options
available in your plan,
• Upon request, conduct reviews of your plan’s available investment options and expenses
charged to the plan, and
• Provide group educational presentations to your plan participants.
All clients sign an Investment Consulting Agreement prior to receiving the above services.
Research and Consulting Services (referred to as “Research Service Client”).
Bishop & Company may provide investment consulting services to third parties. When providing
consulting services, Bishop & Company does not maintain investment discretion and, therefore, has
no obligation to implement its investment recommendations. Clients of our consulting services are
responsible for implementing any recommendations we provide.
IRA Rollover Recommendations
When we provide investment advice to you regarding your Employer’s Retirement Plan account or
Individual Retirement Account, we are fiduciaries within the meaning of Title I of the Employee
Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws
governing retirement accounts. The way we make money creates some conflicts with your interests,
so we operate under an exemption that requires us to act in your best interest and not put our
interests ahead of yours. Under this exemption’s provisions, we must:
• Meet a professional standard of care when making investment recommendations (give
prudent advice),
• Never put our financial interests ahead of yours when making recommendations (give loyal
advice),
• Avoid misleading statements about conflicts of interest, fees, and investments,
• Follow policies and procedures designed to ensure that we give advice that is in your best
interest,
• Charge no more than is reasonable for our services, and
• Give you basic information about conflicts of interest.
Assets Under Our Management
As of December 31, 2023, Bishop & Company managed $318,480,852 in discretionary regulatory
assets under management. In addition, we consulted on $8,349,774 in other assets for a total of
$326,830,626 of assets under advisement.