11545 West Bernardo Court
Who We Are
Our Mission, Vision, and Values
Why We're Different
About First Allied
What We Do
Who We Serve
New York Executive Order
What services do you provide as part of your process?
We like to say we assist with anything that involves a dollar sign. We are firm believers in having a financial plan and strategy to help give direction to your finances. This plan includes from the more obvious with investment management, tax planning and asset allocation to the less obvious like insurance, wealth transfer and budgeting.
How does your firm get paid?
Our firm can be paid in a few different ways depending on the desired relationship. Advisory is the first type which pays a percentage of assets under our management, this relationship is very advisor driven and keeps the advisor and client on the same side of the table. Second is brokerage. This is a more client driven relationship in which the client calls to make trades and the representative charges a commission for placing the trade. Lastly is Fee for Service. This is for clients with a limited scope who only need help with a few items and are not looking for on going advise.
How much is the typical advisory fee?
Our advisory fees start at about 1.3-1.5% but can range based on the varying complexities that will be included in the relationship. Our advisory fees are on a tiered scale so as we manage more assets the percentage paid would decrease.
Don't I need a local advisor I can see regularly?
Our belief is we can bridge the distance gap through our proactive approach. Truth is Financial Planning isn't a hands on profession where clients need to be involved on a daily basis. That is why clients hire us to alleviate some of the additional work that happens behind the scenes. Having low turnover and consistency through every level of the office is far more important than physical proximity, especially in times like these.
Who is your typical client?
Being a multigenerational office we feel we are well positioned to serve a few different groupings of clients. The first being High-Net Worth Families. We strive in generational wealth transfers and assisting the children of clients prior to that transfer of wealth. The second group is Mass Affluent Retirees. Our income strategies focus in on planning for the retirement goals and needs and creating the income needed to sustain their lifestyle. Lastly young accumulators. Wealth accumulation comes from starting early and often and we love helping the younger generation budget and plan for the future.
What does the new client onboarding process look like?
We like to first and foremost have a brief conversation to ensure our process is a fit for a new client and vice-versa. This is a crucial first step to ensure we can bring value above our cost to any relationship we take on. We also view our relationship as a long-term relationship, planning for the many years to come shouldn't be a few year relationship. No fee is assessed for the initial consultation. Second we would gather the qualitative and quantitative data once it is mutual agreed that there is a fit. Once we have the necessary information we can begin setting up new account while we begin the planning process and setting goals. Following the initial strategy being set we have a discussion about how we proceed, including next actions to be taken by the client and the advisor and discuss strategy meeting frequency going forward.
What are some ways you deliver value?
Almost every month when talking to a client we uncover a tax saving strategy, help manage behavioral finance, etc. some are small savings that help offset our costs others are large mistakes the cover the cost of the entire relationship for the lifetime of the relationship. Most people confuse our value with just the bottom line added to their investment portfolio but neglect to account for the value added outside with the various other planning aspects we incorporate.
What is your investment philosophy?
We are very much contrarians to a degree, we like to swim against the tide and when stocks are going down, buy while they are on sale. With that being said we designed our process in a way in which market timing doesn't play a huge role. We believe diversification is the best way to create a stable long-term return and avoid guessing which sectors are poised to do well.
Do I have a say in what is in my portfolio?
We always believe in clients being fully in control of their assets even when we are managing them. If a client wants to hold a certain position we do not restrict that. However, we do want to educate our clients and make them aware of the different factors that go into the decisions like how it may effect there risk.
Do you have account minimums?
Beyond everything else we take pleasure in helping people. We have creative ways to serve clients that still need help but may not have the large nest egg yet. Our soft minimums are $500,000 for the general public, $250,000 for referrals and $500 for young accumulators and children of clients. We encourage all that are interested to call as these soft minimums are up to our discretion and are often waived for the perfect clients.
Why do I need an advisor? What does an advisor do behind the scenes for me?
We feel that in many cases advisors can add value to the bottom line. This value is often added behind the scenes through the vetting of various investments, the research on various laws and legislation and overall planning and strategy. The last one is particularly important as a well constructed plans account for the ups and downs and volatile markets and give clients the piece of mind to not panic during a down cycle.
What does the overall relationship look like?
We look at our relationships in two different ways, depending on clients personality. The first is a collaborative approach, this would typically be for the client that wants to remain involved. We would typically meet bi-annually with these clients. The other relationship type is the delegated relationship. This is for the hands off clients that do not want to get in the weeds of the finances. We typically keep this group in the loop with an annual strategy meeting. In both relationship styles we are constantly updating the plans in the background as changes are needed. If questions arise between your periodic review period we are always willing to hop on the phone, Zoom or email to make sure to get your questions answered.
How often are my investments updated?
The vetting of investments used in our portfolios is an ongoing process. In our process we believe in a diversification amongst asset classes. We do not simply through out an entire asset class due to sector rotations. With that being said we do swap out investments with in the asset class due to various factors such as changes in fund ideologies. We also rebalance portfolios quarterly to keep asset classes properly balanced. Investments can also be updated if stated goals and risk tolerance change.
How is Wealth Navigation Advisors different from others in this field?
Wealth Navigation Advisors is a multi-generational advisor office, both Advisors are assigned to all accounts to give you multiple view points and increase the likelihood of someone licensed, qualified and aware of your situation is able to be there to help. This is what we strive for as we look at everything through the lens of threating the client like they are family. This means we not only act as fiduciaries but also provide the highest levels of customer service that we would expect of anyone working with members of our family.