Bernhardt Wealth Management is a well-known advisory firm in the Washington, D.C. metropolitan area. The company, along with some individual advisors, has been widely recognized in the financial advisor community for its excellence.
This fee-only firm is a financial advisor firm located in McLean, Virginia. The firm has been in business for over 25 years and specializes in strategic investment management and wealth management. Bernhardt also has a spot on our list of the top financial advisors in McLean, Virginia.
Bernhardt Wealth Management Background
Bernhardt Wealth Management was founded in 1994 by Gordon Bernhardt, the firm’s president. Gordon Bernhardt served as a certified public accountant (CPA) for PriceWaterhouseCoopers prior to creating BWM. In total, he’s worked in the financial services industry for over 30 years.
At Bernhardt Wealth Management, you’ll find advisory certifications such as certified financial planner (CFP), accredited investment fiduciary (AIF), accredited asset management specialist (AAMS), certified divorce financial analyst (CDFA) and CPA.
Bernhardt Wealth Management Client Types and Minimum Account Sizes
Individuals, high-net-worth individuals, estates, trusts, pension plans, profit-sharing plans, ERISA accounts and small businesses make up the client base at Bernhardt Wealth Management.
Prospective clients of Bernhardt Wealth Management are subject to a $1 million minimum account size. At a smaller level, the firm institutes a minimum quarterly fee of $2,500.
Services Offered by Bernhardt Wealth Management
Bernhardt Wealth Management offers wealth management and financial planning services, but investment management is its focus. Here’s a breakdown of its offerings:
- Strategic investment management
- Investment plan design
- Investment implementation
- Quarterly reporting
- Portfolio optimization
- Wealth management
- Portfolio management
- Tax planning
- Education planning
- Insurance planning
- Retirement planning
- Estate planning
- Philanthropic planning
Bernhardt Wealth Management Investment Philosophy
Long-term investing and financial planning is the central focus at Bernhardt Wealth Management. However, when you first become a client, your advisor will evaluate your short-term liquidity needs as well as your existing savings. Based on this and your risk tolerance, the firm will create an investment plan that’s aimed at meeting your ultimate financial goals.
BWM uses a wide range of investment types so that it can meet the needs of all of its clients. Principal among its investment recommendations are no-load mutual funds, exchange-traded funds (ETFs), bonds, index funds, variable annuities, short-term paper and mortgage-backed securities (MBS). Notably missing from this list are stocks. To work equities into your portfolio, the firm will invest in equity-centric mutual funds.
Fees Under Bernhardt Wealth Management
The investment management services at Bernhardt Wealth Management operate on a sliding, asset-based fee schedule. Although these rates are shown in annual percentages, BWM divides them up into quarterly payments. These are charged in advance either directly from your account or through a separate billing arrangement.
|Strategic Investment Management Fees|
|Assets Under Management||Annual Fee|
Financial planning and consulting clients abide by different fee schedules. If you want a financial plan, you’ll need to pay a fixed-fee of up to $5,000 depending on the complexity of your situation. Consulting clients receive an hourly rate of $300. According to BWM, fixed fees are split into two payments, while all hourly fees are billed in arrears.
Check out the table below to see how Bernhardt’s fees for its management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Bernhardt*|
|Your Assets||Bernhardt Fee Amounts|
Bernhardt Wealth Management Awards and Recognition
Here's an overview of some of the industry awards Bernhardt Wealth Management has received:
- Gordon J. Bernhardt Awarded 2020 Executive C.H.A.R.M. Award
- Gordon J. Bernhardt Awarded 2019 Vistage Lifetime Achievement Award
What to Watch Out For
Bernhardt Wealth Management has a clean legal and regulatory record, according to its Form ADV.
Opening an Account With Bernhardt Wealth Management
To start an advisory relationship with BWM, you can call (703) 356-4380 or send an email to gordon@BernhardtWealth.com. If you’d prefer to have an advisor reach out to you, take a few minutes to fill out the firm’s online contact form.
All information is accurate as of the writing of this article.
Tips for Planning Your Retirement
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