The following pages describe our services and fees and disclose any material conflicts of interest. Please refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. Firm Information Bernard Wealth Management Corp. is a corporation formed in the State of Michigan. BWM is owned by its principals, Kenneth M. Bernard and Andrew P. Niedermeier. BWM, founded in October 2011, has offices in Royal Oak, Michigan and Lone Tree, Colorado. Advisory Services Portfolio Management Our portfolio management services are provided on a client specific basis, based upon your unique facts and circumstances. We translate your needs and objectives into an Investment Policy Statement (IPS). This IPS captures your:
• Financial goals
• Risk tolerance, and
• Unique circumstances. This IPS then drives the asset allocation of your investment(s) and portfolio(s). We adjust your IPS as you notify us of changes in your personal circumstances or as documented in annual updates to your financial plan, as the case may be. Although we manage your accounts based on your individual needs, we employ model portfolios of securities which may include all equity, all fixed income or a combination of the two. These models, taken together with the asset allocation established in your IPS, determine the composition of your portfolio. Equity investments may include:
• Individual stocks
• Mutual funds
• Exchange traded funds (ETFs) Fixed income investments may include certificates of deposit (CDs), individual bonds, mutual funds, and ETFs. Portfolio Management Services include the following components:
• Investment Selection and Implementation – Upon completion of your IPS, we implement an investment plan for you by selecting the most appropriate model portfolio for you. We typically invest your assets in stocks, mutual funds, exchange- traded funds or fixed income instruments as appropriate. We formulate a long-term asset allocation strategy that specifies the amount of your account assets that are invested across equity, fixed income and cash or cash equivalents, (as applicable). We develop the models based upon our proprietary research on markets and market conditions as well as perceived value in selected securities (See Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss). We then include a broad-based economic outlook as part of the process.
• Investment Monitoring and Maintenance – We regularly review your accounts on a continual basis (by monitoring our models) to ensure that risk levels stay within the parameters established in your IPS. Further, we monitor your portfolio in order to ensure we have client assets invested consistent with our models, firm-wide investment guidance, appropriate indexes and broad economic outlook.
• Financial & Retirement Planning – Along with our investment management services, we may also advise you on issues related to your retirement planning or wealth management. These services are included in a Portfolio Management relationship and are detailed below under Financial Planning Services. See Item 14 – Client Referrals and Other Compensation

for an explanation of conflicts that arise from recommendations of insurance products. We re-balance your portfolios as necessary. More or less frequent rebalancing may be required depending on macroeconomic, market or sector factors, as well as changes in your personal or family circumstances. Your financial situation may include unique circumstances, which we reference in your Investment Policy Statement and may code in our portfolio management software. For example, you may have concentrated positions in certain stocks that you wish to hold. We may then tilt your portfolio to reflect these stock positions, to avoid further individual stock and industry concentration. In addition, you can place reasonable restrictions on your account as long as they are in writing and accepted by us. You may modify these restrictions at any time, subject to them being in writing. These restrictions may include types of securities that may be purchased and held in your accounts. New restrictions are not implemented until we accept them. Financial Planning Services We also offer financial planning services on a fixed fee basis when clients don’t want an ongoing Portfolio Management relationship. These services may vary depending on the needs of the client, but will generally include:
• Reviewing and prioritizing your goals and objectives.
• Developing a summary of your current financial situation.
• Reviewing your current investment portfolio and developing an asset management strategy.
• Developing a financial management strategy, including financial projections and analysis.
• Presenting a financial plan that will be reviewed in detail with you. It will contain recommendations designed to meet your stated goals and objectives, supported by relevant financial summaries.
• Identifying tax planning strategies to optimize financial position.
• Referral to other professionals, as required, to assist with implementation of the action plan. See Item 14 – Client Referrals and Other Compensation for an explanation of conflicts that arise from recommendations of insurance products. Investment Management for Qualified Plans We also provide investment management services to qualified retirement plans which are subject to the Employee Retirement Income Security Act of 1974, as amended, (“ERISA”). As part of our services to qualified plans, we will act as a fiduciary of the plan under Section 3(21)(A) of ERISA. In this case, we act as a non-discretionary investment advisor. Plan services will generally include investment recommendations, participant enrollment and education, fee monitoring and plan search support. In addition, we monitor the performance of all investment options on at least a monthly basis. For qualified plan clients, we assist you with creating and maintaining your investment policy statement. Your investment policy statement may place restrictions on the types of investments the plan assets may invest in. Wrap Fee Programs Bernard Wealth Management Corp. does not participate in any wrap fee programs. Assets Under Management As of December 31, 2023, we had $158,861,606 in assets under management, of which $142,099,685 is managed on a discretionary basis, and $16,761,921 is in non-discretionary 401(k) plans.