| Advisor Profile |
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| Name: |
Wayne Schorpp, CFP® |
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Business Description |
Schorpp Capital Management is an investment management and financial planning firm that places a premium on our client relationships and our ability to deliver service that exceeds their expectations. We listen to our clients and communicate to them a custom financial solution to achieve their goals. We will always have a process in place in which we have a robust and open line of communication.
Our Responsibilities
1. Always put our clients interests first.
2. Always align our interests with our clients.
3. Always communicate in the clearest way possible.
4. Always exceed expectations.
5. Never let a customer down.
We are a fee-based asset management firm. We feel that this format best aligns our interests with our client's. |
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General Information |
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| Years of Experience in Financial Services: |
21
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| Number of Years with Current Firm: |
5
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| I work with the following types of clients: |
Individual Investors
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Education |
| Academic Background |
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| Degree in Accounting - Rutgers University (1983) |
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Services |
| Investment Types: |
Exchange Traded Funds (ETFs), Bonds, Stocks, Annuities, Insurance, Mutual Funds, Options & Futures, Socially Responsible Investments (SRI)
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Qualifications & Memberships |
| Certifications, Accreditations & Designations: |
CERTIFIED FINANCIAL PLANNER™ Certificant, Certified Public Accountant (CPA)
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| Financial Organization Memberships: |
Financial Planning Association (FPA), American Institute of Certified Public Accountants (AICPA)
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Firm Information |
| Number of Advisors in Office: |
Up to 10 employees
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| I work with clients as part of a team: |
Yes
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Compliance |
| Registered Investment Advisor: |
Yes
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| Investment Advisor Representative: |
Yes
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| Compliance Disclosures in Last 5 years: |
I have a clean record
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| Criminal Disclosures in Last 5 years: |
I have a clean record
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Compensation & Fees |
| I am a fee-only financial professional: |
Yes
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| Minimum Portfolio Size for New Managed Accounts: |
$200,000
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| Compensation Methods: |
Flat Fee, Based on Assets
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| Fee % Based on Assets: |
.9
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| Additional Details on Charges: |
Our fee is based on 90 basis points of assets under management. We do provide a comprehensive financial plan for individuals for an added fee. All other services we provide are mostly included in the assets under management fee.
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| Prepared By: |
Wayne Schorpp, CFP® |
Frequently Asked Questions |
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Do you have a customer satisfaction or refund policy? |
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We believe that you should be 100% satisfied with our performance. Our client's are billed after services are performed if they are not satisfied they will not be billed. |
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What are your qualifications? What is your education background? |
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Our planners are Certified Financial Planners, Registered Investment Advisors and CPA's. All have four year college degrees. |
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What is your approach to financial planning? |
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Our approach is to find out as much about the client as possible. Usually in a series of meetings to determine whether we fit what the the client is looking for in a financial planner. After we have determined there is a fit we develop a custom fiancial plan based on the client's personal situation. |
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What services do you offer? |
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We offer a full range of financial planning services, asset management, income in retirement planning, tax planning, and insurance planning. |
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How many clients do you currently manage? |
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We currently work with about 100 clients. |
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Will you be the only person working with me? |
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One of the partners in the firm will be working directly with you either Doug or Wayne Schorpp. |
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How are you compensated? How will I pay for your services? |
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We are compensated primarily by a fee of .9% or 90 basis points per year ($900 per $100,000) for assets under management. This fee will be deducted out of your account. If the planning process involves an insurance product we will receive a commission for selling that product. We also offer a flat fee for doing a financial plan in the instance where will will not be managing any assets. |
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| Q. |
If you are going to manage my account, will you obtain my permission every time you buy or sell something? |
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We would prefer to be able to manage your account without obtaining permission for every trade we make. But, in most cases we will contact the client before we make any changes in the portfolio. |
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Do you offer any guaranteed results? |
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How much risk should I be willing to take? |
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Risk is dependent on the individual clients situation. |
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Have you ever been charged with any breaches? |
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What carrier(s) do you represent? |
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Mutual of Omaha,Allianz, ING, American Equity Doug Schorpp is the agent. |
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Are there any pre-existing conditions that you can not cover? |
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How long does it take to complete the application and approval process? |
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Is there a maximum age that you can insure? |
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What services do you provide? What are your specialties? |
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We offer a full range of financial planning services, asset management, income in retirement planning, tax planning, and insurance planning. |
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What is your experience? How many clients do you currently manage? |
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Wayne Schorpp started his financial planning practice in 1992, Schorpp Capital Management currently has about 100 clients. |
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What financial institution(s) do you represent? |
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We are an independent Registered Investment Advisor. We do not represent any financial institutions. |
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How do you charge for your services? |
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We manage assets for a flat fee of 90 basis points or $900 per $100,000 under management. |
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Do you provide a free initial consultation? |
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Why should I choose you as my financial advisor? |
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We believe that the financial planning process is a personal one. It is important for us to get to know our clients as people with goals and aspirations. Our job is to help make those things possible. |
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What are your qualifications? |
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We are Certified Financial Planners, Registered Investment Advisors and Certified Public Accountants. |
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| Q. |
What is your approach to 401 K plan rollovers? |
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After an initial consultation we will prepare all the paperwork and interface with the previous employer to insure a smooth rollover. We will devise a custom asset allocation based on the clients investor profile. |
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How long does the process of rolling over a 401K plan usually take? |
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The rollover process is very dependant on the employer. Generally it takes 30 - 60 days. |
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What financial institutions do you represent? |
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We are an independant firm and as such are free to develop relationships with the very best firms. Our custodian for our clients assets in Charles Schwab. |
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How many years of experience do you have? |
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What are your fees for this service? |
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We charge a management fee of 90 basis points for assets under management. |
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How many 401K rollover clients do you currently manage? |
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Why should I roll over my 401K plan to your firm? |
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On our staff are CPA's to insure a proper tranfer is executed. We then designed an asset allocation strategy that meets your risk tolerances and goals. |
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Do you provide a free initial consultation? |
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