Financial Planning

At First Wealth Advisory, we will begin by getting to know you and your family while gathering information about your current circumstances, your future goals, your concerns and your aspirations. During this phase, too, you and your advisor can discuss the strategies and services available to help solve the specific financial challenges you face.

We will design a comprehensive plan.  Depending on your circumstances, your plan may focus on a single objective or a more complex strategy. Your plan could be as singular as saving for retirement or a child’s education, monetizing a concentrated equity position, or establishing a trust to benefit a child with special needs. But, perhaps, you may require a complex strategy that includes help with positioning and selling your business, then deploying the proceeds, together with other investable assets, to deliver the income you need to retire comfortably. Or you may be in need of multiple solutions: not only selling your business and developing an effective plan for retirement, but establishing a charitable trust to fund your philanthropic desires.

Next we work with you to implement the plan.   In this phase, the planning is put into motion while we collaborate with other relevant professionals as needed, like your current attorney or CPA. The plan, based on previous steps of the advisory process, factors in your investment horizon as well as the types and levels of risk that you can afford and with which you’re comfortable.

Once the plan is in place we manage the plan.  This is an ongoing process where it’s essential to monitor the progress of your investments in the context of your goals and periodically review all relevant information. It may become necessary to adjust the particular components of your plan in light of changing circumstances and evolving objectives. Should economic and financial circumstances warrant, your advisor may also recommend tactical changes to your portfolio – for example, “harvesting” tax losses or taking advantage of emerging opportunities – while still adhering to your long-term goals.