Frequently Asked Questions
WE have answers
FAQs
Schott Financial Management has proudly served the Prescott community for over 30+ years. We provide our clients with dedicated customer service and understand that when it comes to your retirement, you may have questions that need an answer. If you see a question not listed on this page, please feel free to give us a call. 928-776-1031.
Investing 101: Building Your Financial Future
Investing is a key component of building long-term financial well-being, and understanding the basics can empower you to make informed decisions. At Schott Financial Management, we believe that successful investing begins with a clear plan tailored to your goals. Diversification is fundamental—spreading investments across various asset classes like stocks, bonds, and real estate can help manage risk and potentially enhance returns.* Additionally, understanding the power of compound interest, reinvesting dividends, and taking advantage of tax-efficient strategies like IRAs and 401(k)s has the potential to significantly impact your financial success over time. Staying disciplined through market fluctuations is critical; emotional decision-making often leads to costly mistakes. At Schott Financial Management, our mission is to simplify investing and empower you to pursue financial independence. Let’s take the first step together.
*There is no guarantee that a diversified portfolio will enhance returns or outperform a non-diversified portfolio. Diversification does not protect from market risk.
How We Invest
At Schott Financial Management, we offer a diversified approach to investing, tailored with a goal to meet your financial goals. Our bond investments are exclusively through mutual funds, ensuring professional management and diversification. For stock investments, we provide a variety of options, including individual stocks, mutual funds, exchange-traded funds (ETFs), and unit investment trusts (UITs). To further pursue your financially independant future, we offer select variable annuities designed with a goal to provide growth and income potential. Additionally, we incorporate life insurance into our strategies, combining protection with long-term financial planning. Our commitment is to create personalized portfolios that align with your needs and objectives.
The Four Phases of Retirement
At Schott Financial Management, we guide clients through the 4 Phases of Retirement with personalized strategies. Phase 1 focuses on managing risk within your portfolio to align with changing needs. Phase 2 involves relying on savings; we help structure withdrawals with a goal to ensure long-term financial well-being. In Phase 3, we prioritize managing retirement income and keeping beneficiary arrangements up to date, striving to ensure your legacy goals are met. Phase 4 addresses end-of-life preparation and taxes, offering compassionate planning for medical expenses and estate considerations, aiming to ensure your loved ones are protected. Our approach simplifies retirement, delivering meaningful confidence.
What is your affiliation with Andy Tomlinson and Tomlinson Wealth Management?
Steve Schott is Andy’s son-in-law. Steve purchased the business in 2019 when Andy retired after a 50-year career in finance. Andy has weathered many financial storms successfully and has passed that knowledge down to Steve. We are proud of our Prescott legacy, and of being the 3rd generation to own and operate a financial business in Arizona.
Do you have account minimums?
We have solutions starting at $1000. We believe the business of wealth management is built on relationships and shared vision. We look at every client individually and create specific investment strategies that work for you and your retirement needs. Whether you have $2,000 or $2,000,000, we make investing accessible to everyone.
How many years of experience do you have?
Our staff has a combined 50 years of experience. That’s over half a century of financial know–how.
How are you compensated?
Our firm works on a fee or commission basis depending on what the client prefers. All fees and costs are fully disclosed before any account is open. Transparency is just one of our many core values. We encourage clients to ask questions to gain a greater understanding of their investments, how they work, and what they cost to maintain.
Can you work with clients out-of-state?
We are currently licensed in 28 states and are always looking to add more. Our firm has the technical capability to communicate with our out-of-state clients regularly.
How do you protect client’s information?
It is our obligation as financial representatives to keep your information safe. We use fully encrypted computers and operate in a stand-alone building with no occupants other than our staff. Steve and his staff regularly participate in continuing education classes that cover a variety of topics such as Money Laundering, Identity Theft Protection, and Financial Exploitation of Seniors. Any email containing your information is encrypted and sensitive documentation is shredded and destroyed.
What are your hours?
Monday – Thursday: 8am to 5pm
Friday: 8am to 4pm