Q. What services do you provide?
We try to help clients build, manage and transfer wealth through long term financial planning. Specifically, we provide advice on many aspects of a client's financial situation, including retirement planning, insurance planning, education funding and estate planning. We also select investment managers and/or other investment vehicles for our client's portfolios, monitor the performance of these investments and provide on-going reviews to track progress toward their goals. Our firm's guidance is based on more than seventy years of combined professional experience providing financial advice to successful individuals, families, trusts, businesses and charities.
Q. What types of clients are best served by FWM?
We serve a broad range of clients with diverse needs and circumstances; successful retirees and those making the retirement transition; individuals who have received "sudden wealth"; high-income individuals currently saving for retirement; trusts, businesses, and charitable foundations. We believe that clients with investable assets of at least $1 million benefit the most from our investment and financial planning capabilities.
Q. Does your firm have account size minimums?
In order to provide the highest level of service for our clients we do have account size minimums. For the firm's founder, Jim Forcella, the minimum advisory relationship is $1 million in investable assets. Associate advisors handle minimum advisory relationships of $500,000. We may waive our minimum relationship size for new clients who are either related to or referred to us by existing clients.
Q. How would you summarize your approach to investing?
The world of investing is not what it was 40, 20, or even 10 years ago. Systems have become more complex and the needs of clients have grown. In order to account for this added complexity our approach to money management involves a thorough understanding of our client's needs and goals.
Once the reasons for making an investment are understood and clarified, a portfolio is constructed based on a client's risk tolerance, timeframe, income needs, and tax situation.
Our approach to portfolio construction often involves using multiple philosophies within the world of investment theory. The prominent philosophy within the financial industry is one of "buy-and-hold" (also known simply as "strategic" investing). While this may be an appropriate strategy for some clients, we don't believe that this is the only appropriate strategy. Where suitable, we encourage clients to adopt traditional and non-traditional philosophies of investment management within their overall portfolio.
It must be noted that no strategy or philosophy can be guaranteed to protect against market losses.
And finally, depending on the needs of the client we may also recommend insurance based products to create a diversified and economical portfolio and estate plan.
Q. Do you put my interest ahead of your own?
Yes. Our advisors have a fiduciary duty towards our clients. A fiduciary duty is a legal obligation to always act solely in the best interest of a client. This means that we must adhere to higher standards when providing advisory services, including an obligation to:
- Act in the client's best interest and place client interests ahead of our own;
- Make appropriate recommendations consistent with a client’s investment objectives and goals;
- Treat advisory clients fairly;
- Disclose all material conflicts of interests to clients;
- Disclose material facts
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.