Frequently Asked Questions

Please click the questions below to discover the answers.

1. How is the advisor compensated?

I am a fee-only advisor, which means I don't sell financial products. Water Street Wealth Management charges you a quarterly fee based on your assets. You can check illustratively the fees that you will be charged in my form ADV. Fees are negotiable.

2. Is the advisor a fiduciary?

Water Street Wealth Management is a fiduciary and is legally obligated to act in your best interest.

3. Will I get a comprehensive written analysis of my financial situation?

At the start of your relationship, Jeff Schlotterbeck, CFP® will work with you to create a financial plan that is updated at least annually or anytime there is a major change.

4. How often can I expect the advisor to communicate with me about my investments?

Jeff Schlotterbeck, CFP® conducts quarterly portfolio reviews in person or over video conferences. He also sends you regular updates on markets and initiates contact if there are changes necessary to your portfolio or financial plans. In addition, you can reach out to Jeff Schlotterbeck, CFP® at any time if you have any questions.

5. What all in-house expertise does the advisor have?

Financial planning, investment management, and investment tax planning. In addition, Water Street Wealth Management refers its clients to a CPA and coordinates client’s taxes. They also refer you to an estate planner for estate planning purposes.

6. How often does the advisor update my financial plan?

Typically, Jeff Schlotterbeck, CFP® will update your financial plan at least once a year or if necessary, more frequently.

7. Where are my investments held?

Water Street Wealth Management holds your assets in custody at Charles Schwab or TD Ameritrade.

8. Will I get advice on financial issues not related to investments?

Yes, Jeff Schlotterbeck, CFP® will advise you on other financial matters where permitted by law.

9. Will I get help with my taxes?

Water Street Wealth Management does not prepare your tax returns but refers you to a CPA and will coordinate with the CPA.

10. What is the advisor's investment philosophy?

Please see Water Street Wealth Management’s form ADV and discuss any questions regarding investments directly with the adviser in your introductory meeting.

11. Does the advisor take custody of my assets?

Water Street Wealth Management does not take custody of your assets, as defined by the SEC. The firm however has trading discretion over the assets that it manages for you.

12. Can the advisor refer me to other professionals like estate attorneys and CPAs?

Yes, your adviser will refer you to a CPA for taxes and an estate attorney for estate planning purposes.

13. What happens if my advisor retires?

Jeff Schlotterbeck, CFP® has 20 years of experience and has no plans to retire over next two decades.