Question 1

Who is FirsTrust?

Accepted Answer

FirsTrust was founded in 1995 by advisors who left Wall Street to build an independent, fee-only firm where the only financial relationship is between advisor and client. Thirty years later, that founding principle still governs every engagement.

Question 2

What does “FinancialTeam” mean?

Accepted Answer

Our advisory team includes a financial planner (CFP®, ChFC, MBA), a Chief Investment Officer (CFA), a trust and estate specialist (CFP®, JurisMaster in Law), and a tax strategist (CFP®, M.Tax). They coordinate across your full financial picture rather than working in isolation.

Question 3

Is FirsTrust a fiduciary financial advisor?

Accepted Answer

Yes. Every registered investment adviser is technically a fiduciary, but many also hold broker licenses that allow them to receive commissions. FirsTrust holds no such license. Our sole compensation is the advisory fee you pay directly, and we have no corporate affiliation that influences our recommendations.

Question 4

What does it mean that FirsTrust is “independent” and “fee-only”?

Accepted Answer

“Independent” means we are not obligated to the shareholders of any bank, brokerage, insurance company, or product manufacturer. “Fee-only” means we are compensated only by client fees;not sales commissions, marketing incentives, or third-party compensation for recommending investments or financial products.

Question 5

Where is FirsTrust located and do you work with clients outside your local area?

Accepted Answer

FirsTrust serves clients locally and across the country through secure virtual meetings. Many of our clients live in Florida and the Southeast, but we work with families and professionals in multiple states who value a fee-only fiduciary relationship and our team-based approach.

Question 6

What types of clients does FirsTrust typically work with?

Accepted Answer

We serve families, business owners, and professionals whose success has created financial complexity—estate planning across generations, multi-entity structures, coordinated tax strategy, or liquidity events. Most of our clients value integrated wealth coordination where investment decisions, tax strategy, and estate planning work together rather than in isolation.

Question 7

Do I need a minimum amount of assets to work with FirsTrust?

Accepted Answer

There is no minimum account size. However, a minimum annual fee of $15,000 applies. This ensures every client receives the full depth of our FinancialTeam's expertise.

Question 8

Can FirsTrust help if I’m just getting started building wealth?

Accepted Answer

If you’re earlier in your wealth journey, FirsTrust may be overkill for your situation. Our team is built for families navigating meaningful complexity—estate coordination, multi-entity tax strategy, business succession, or multigenerational planning. If we’re not the right fit, we’re happy to point you to other resources or advisors who may better match your needs.

Question 9

Can you help with finances related to major life changes?

Accepted Answer

Yes. Many clients come to us during or after significant life events such as divorce, the loss of a spouse, an inheritance, legal settlement, or the sale of a business. Our role is to bring clarity, organization, and structure to complex decisions during transitional periods.

Question 10

What services does FirsTrust provide?

Accepted Answer

Your FinancialTeam integrates investment management, financial planning, tax coordination, and estate implementation under a single advisory relationship. Private Wealth Management clients work with a lead advisor who coordinates specialists as needed. Private Family Office clients have direct access to dedicated specialists across each discipline.

Question 11

Can you help with non-investment issues like risk, cash flow, or “what-if” scenarios?

Accepted Answer

Yes. Your Personal Financial Website enables us to model “what-if” scenarios; retirement dates, Social Security timing, second homes, career changes, Roth conversions, spending changes, and more, so you can see potential long-term effects before you decide. We also analyze cash flow, reserves, insurance coverage, and other risk points as part of your plan.

Question 12

What do you mean by “Advanced Trust & Estate Services”?

Accepted Answer

Beyond wills and trusts. With nearly 40 years of experience and credentials spanning psychology, finance, and law, our Trust & Estate Specialist simplifies intricate trust structures, anticipates issues, mediates sensitive family interactions, and crafts tax-efficient, multigenerational strategies.

Question 13

How does FirsTrust get paid?

Accepted Answer

We are paid exclusively by the fees our clients pay us directly — a single flat percentage of assets under management. We receive no commissions, kickbacks, referral fees, or any other third-party compensation. This fee-only model eliminates conflicts of interest and keeps our advice fully aligned with your goals.

Question 14

Are your fees easy to understand?

Accepted Answer

Yes. Our pricing is transparent and plain-English, with no add-on charges that make your true cost hard to identify. Before you become a client, you’ll receive a clear explanation of your fee structure and what it covers.

Question 15

How are fees billed?

Accepted Answer

Fees are based on your investment account values, deducted directly from those accounts quarterly in advance. You will always see a clear line item on your custodian statement showing exactly what was charged.

Question 16

Are there other costs I should be aware of?

Accepted Answer

No. FirsTrust has no hidden fees. Your quarterly management fee is all we charge. We also work to reduce any other investment costs such as fund expense ratios, trading costs, or custodial fees charged by outside institutions. We factor these costs into your total return strategy and strive to keep them reasonable given your objectives.

Question 17

Exactly what would my fee be?

Accepted Answer

Annual fees begin at $15,000 for Comprehensive Wealth Management. Private Family Office engagements are individually proposed based on complexity. We’re happy to discuss specifics in an introductory conversation.

Question 18

What is the benefit of your pricing model?

Accepted Answer

Your fee reflects the complexity of your financial life and covers your full service tier. There are no add-on charges, hourly billing, transaction fees, or hidden costs. Financial planning, tax coordination, investment management, and estate implementation are all included.

Question 19

How often will we meet or review my plan?

Accepted Answer

We review progress with you on a quarterly basis, and your advisory team is accessible between scheduled reviews for questions or time-sensitive decisions.

Question 20

What reports do you provide, and where do they come from?

Accepted Answer

We aggregate data from your accounts at multiple institutions into a single system that can generate detailed analytical reports. Your cloud-based Personal Financial Website also provides you with continuously updated account values, plan projections, and a secure document vault with 24/7 access.

Question 21

What should I bring to our first conversation?

Accepted Answer

For an initial call, bring nothing but your questions and a sense of what you want to accomplish. If we decide to move forward, we’ll then ask for items like recent account statements, tax returns, and estate documents so we can organize your complete financial picture.

Question 22

Can you provide references?

Accepted Answer

Yes. We can provide a list of CPAs and attorneys who know our work and are willing to recommend us based on their experience collaborating with our FinancialTeam. Contact us and we'd be happy to provide them for you.

Question 23

How do we get started?

Accepted Answer

You start by scheduling a brief introductory conversation. Together we’ll discuss your situation, confirm fit, and recommend the appropriate service tier before you decide to move forward.

Question 24

How do I know if FirsTrust is the right fit for me?

Accepted Answer

FirsTrust is often a good fit if you want unbiased, fee-only advice from a seasoned team, value transparency and independence over product sales, and have enough complexity within retirement income, taxes, trusts, or multi-account portfolios, that you prefer a coordinated, long-term strategy rather than one-off transactions.

Question 25

What is FirsTrust’s investment philosophy?

Accepted Answer

Each portfolio is designed to pursue your specific objectives while seeking the highest reasonable probability of success with the least expected risk, tax drag, and cost. Your investments align with your financial plan, time horizon, and comfort with risk, then adjust as your life and markets evolve.

Question 26

How do you manage risk in my portfolio?

Accepted Answer

We start by defining risk in terms that matter to you: the ability to fund your lifestyle and long-term goals without taking more risk than necessary. Using institutional tools and Nobel Prize–inspired risk analysis, we stress-test portfolios across different market environments, align investments with your written investment guidelines, and monitor risk factors like volatility, concentration, and sequence-of-returns risk over time.

Question 27

How do you handle concentrated stock positions or low-basis assets?

Accepted Answer

Many clients come to us with significant single-stock positions or highly appreciated holdings. Working closely with our Chief Investment Officer and your tax professional, we design a gradual, tax-aware transition using tools like staged sales, diversification strategies, or charitable techniques, reducing concentration risk while managing the tax impact.

Question 28

Do you primarily use mutual funds, ETFs, or individual securities?

Accepted Answer

The answer depends on your goals, tax situation, and account size. We may use a mix of individual securities, mutual funds, and ETFs to build the right combination of diversification, tax efficiency, and cost control. Every recommendation is driven by your objectives and our research.

Question 29

How do taxes factor into your investment decisions?

Accepted Answer

Taxes are a core design constraint in every portfolio decision. We look at asset location (which investments go in which accounts), holding periods, gain/loss harvesting opportunities, retirement income sourcing, and estate goals when we make recommendations. Strategic Tax Planning at FirsTrust is a year-round process that connects your portfolio management with your broader tax picture.

Question 30

How do I know my money is safe at FirsTrust?

Accepted Answer

Your money is never held at FirsTrust. Accounts are kept at an independent, third-party custodian, often a major brokerage such as Charles Schwab, in your name or your trust’s name. You receive statements and online access directly from the custodian.*

* FirsTrust and its employees are independent of and are not employees or agents of Charles Schwab & Co., Inc. (“Schwab”). Schwab does not prepare, verify, or endorse information distributed by FirsTrust.

Question 31

How is FirsTrust different from a broker or “fee-based” advisor?

Accepted Answer

Most “fee-based” advisors are dual-registered: they can charge fees and earn commissions or incentives from products they sell. FirsTrust is fee-only and does not hold brokerage sales licenses. We accept only client-paid fees for advice and service.

Question 32

How can I verify that you’re truly fee-only and not dual-registered?

Accepted Answer

You don’t have to take our word for it. You can: Review our Form CRS and ADV on the SEC’s adviser information site, and Confirm that we’re not also registered with FINRA as brokers. If an advisor is both an SEC-registered adviser and FINRA-registered broker, they are dual-registered and allowed to receive product-based compensation in addition to fees.

Question 33

Do you receive any sales incentives, revenue sharing, or trips from investment or insurance companies?

Accepted Answer

No. As a matter of philosophy and policy, we do not accept sales commissions, revenue-sharing payments, or marketing incentives from product providers.

Question 34

My advisor claims to be a fee-based fiduciary; just like FirsTrust, right?

Accepted Answer

No. 'Fee-based' means the advisor charges fees and may also receive commissions. FirsTrust is Fee-Only. The only compensation we receive is the fee you pay.

Question 35

Why is it legal for a fee-paid fiduciary to accept kickbacks and sales commissions?

Accepted Answer

The regulatory framework allows advisors to hold multiple licenses simultaneously, which is why independent verification matters. FirsTrust holds no broker license and accepts no third-party compensation.

Question 36

How do I know for sure if an advisor has compensation conflicts of interest?

Accepted Answer

Go to BrokerCheck and enter the adviser’s name and city/state. If they’re listed as a Broker, or as both a Broker and an Investment Adviser, they’re licensed to receive commissions.

Question 37

Why should a firm's independence be important to me?

Accepted Answer

An independent firm has no obligation to any bank, brokerage, or product manufacturer. That means every recommendation reflects your situation and objectives, with no outside commercial relationships influencing the advice.

Question 38

What education or expertise does an advisor need to charge a fee for advice?

Accepted Answer

There is no universal standard. At FirsTrust, our team holds CFP®, CFA, ChFC, JurisMaster, Master of Taxation, and CISM credentials with an average of 32+ years of experience. We believe the depth of the advice should match the depth of the credential.

Question 39

Do I really need an estate plan if I already have a will?

Accepted Answer

A will is just one piece of an estate plan. A complete plan can also include powers of attorney, healthcare directives, beneficiary designations, and sometimes trusts. Together, these documents help protect you if you’re alive but incapacitated, and ensure your wishes are carried out efficiently after you’re gone.

Question 40

What’s the difference between a will and a trust?

Accepted Answer

A will is a list of your instructions to a probate court for how you would like your property to be inherited. A trust is a legal arrangement that holds title to certain assets during your lifetime and then instructs a Trustee how to distribute them after you're gone. Because no probate court is required, it affords you greater privacy, fewer post-mortem costs and delays, and the flexibility to add tax and asset protections.

Question 41

With the federal estate tax exemption so high, do we still need estate planning?

Accepted Answer

It's not just about estate taxes. The higher, now-permanent federal exemption (rising to $15 million per person / $30 million per couple in 2026) means fewer families will owe federal estate tax, but many states still have their own estate or inheritance taxes with much lower thresholds. Planning is still essential for asset protection, some states' estate taxes, income taxes on heirs, business succession, and making sure wealth is used wisely across generations.

Question 42

Does business succession planning integrate with my estate plan?

Accepted Answer

Yes. The ownership of your business is a taxable asset of your estate, and that ownership must transfer according to your estate plan to be valid and effective. True business succession also requires extra attention and documentation, such as buy-sell agreements, updated operating or shareholder agreements, and carefully coordinated trust and beneficiary designations, to help ensure the enterprise itself continues smoothly.

Question 43

Can my estate plan protect my children’s inheritance better than they could on their own?

Accepted Answer

Yes. With the right asset-protection planning, you can leave assets to your children in a way that shields those funds from future risks such as divorce, lawsuits, or creditor claims. By using properly structured trusts and carefully drafted distribution rules, you can give your children access to the inheritance while keeping the underlying assets better protected than if they received everything outright in their own names.

Question 44

How does your tax planning actually reduce what I pay over time?

Accepted Answer

Your tax plan incorporates strategies across deferral, gain and loss harvesting, deduction optimization, income recognition timing, withdrawal sequencing, and estate tax mitigation. Applied consistently, these strategies reduce your lifetime tax burden.

Question 45

How do you work with my CPA and estate attorney?

Accepted Answer

Your tax plan is coordinated across your CPA, attorney, and investment team. Relevant data and strategies are shared so each professional works from the same foundation.

Question 46

What should I provide to get started on tax planning?

Accepted Answer

Send your most recent federal tax returns and any supporting schedules/K-1s. We perform an efficiency review of your return and monitor changes in income, deductions, brackets, exemptions, and credits throughout the year.

Question 47

How do you charge for tax planning?

Accepted Answer

Tax coordination is included in every Private Wealth Management and Private Family Office engagement. For families with multi-entity structures or advanced complexity, your FinancialTeam includes a dedicated tax specialist.

Question 48

How can your tax planning improve my investments?

Accepted Answer

Tax-efficient portfolio management targets the gap between gross and net returns. This includes harvesting losses to offset gains, minimizing the tax impact on cash flows, and positioning assets across taxable and non-taxable accounts to keep your portfolio optimized over time.

Question 49

How much do we need to retire comfortably?

Accepted Answer

There’s no accurate rule-of-thumb or magic number. FirsTrust builds a personalized retirement plan that considers your lifestyle, fixed and flexible expenses, pensions, Social Security, healthcare, and legacy goals. From there, your FinancialTeam can project different scenarios to see what’s sustainable for you.

Question 50

Are we too late to start planning?

Accepted Answer

No. Many people first seek help in their 60s or after they’ve already stopped working. Your FinancialTeam can still help organize accounts, design a tax-wise withdrawal strategy, and align investments and estate documents with your current reality.

Question 51

When should we claim Social Security?

Accepted Answer

It's an important decision that we can help you make with confidence. Claiming too early or too late can significantly affect your lifetime income and tax picture. FirsTrust incorporates Social Security into your broader retirement plan—running comparisons of different claiming ages in the context of your savings, longevity assumptions, and tax profile.

Question 52

Can you help us plan for healthcare and long-term care costs?

Accepted Answer

Yes. Healthcare and potential long-term care needs are built into your retirement projections. Your FinancialTeam helps estimate costs, evaluate coverage options, and test how different scenarios might affect your income and legacy over time.

Question 53

What is executive financial planning?

Accepted Answer

Executive financial planning is a comprehensive approach that addresses the unique financial challenges facing corporate leaders and high-earning professionals. This includes managing complex compensation packages, equity awards, stock options, deferred compensation, and executive benefits—while coordinating tax planning, investment management, and estate planning into a unified strategy.

Question 54

When should I exercise my stock options?

Accepted Answer

There is no universal answer—it depends on your tax situation, the stock outlook, your concentration risk, and your overall plan. Your FinancialTeam models different exercise scenarios against AMT, ordinary income, and capital gains to find the approach that fits your full picture.

Question 55

How do I diversify out of concentrated company stock without a huge tax bill?

Accepted Answer

Diversification is essential, but timing and method matter. We build multi-year strategies that may include systematic sales, charitable giving, exchange funds, or hedging structures, always coordinated with your tax plan to minimize the impact.

Question 56

Can you work with my CPA and attorney?

Accepted Answer

Yes. With your written authorization, we routinely collaborate with clients’ CPAs, attorneys, and benefits administrators. We share data, coordinate strategies, and ensure everyone is working from the same foundation to serve your best interests.

Question 57

How is FirsTrust different from my company's financial wellness benefit?

Accepted Answer

FirsTrust is fee-only and legally obligated to act in your interest across your full financial life, not just company benefits. We do not receive commissions, marketing incentives, or sales bonuses of any kind.

Question 58

Do we need to be ultra-wealthy to work with FirsTrust on legacy planning?

Accepted Answer

Legacy planning is driven by complexity, not a specific net worth threshold. If your family has estate planning needs, tax coordination across generations, or wealth transfer goals, your FinancialTeam can build a plan around those objectives.

Question 59

How does FirsTrust work with our estate planning attorney?

Accepted Answer

The Trust & Estate specialist on our FinancialTeam has a formal education in both finance and law plus nearly 40 years of experience in this particular field. We work with you to create the plan, an estate planning attorney (your own lawyer or we can refer you to one that we have vetted) will draft the documents, and we will help you put it all together in a manner that solidifies your legacy intentions.

Question 60

How do you help prepare our children and grandchildren?

Accepted Answer

Research shows that most family wealth fails to survive to the third generation, and it is rarely because of poor investments. It is usually due to lack of communication, unprepared heirs, or family conflict. Your FinancialTeam helps build governance frameworks, educate the next generation, and structure trusts in ways that encourage responsibility.

Question 61

What is a dynasty trust and is it right for our family?

Accepted Answer

A dynasty trust is designed to hold assets during your lifetime, generate income during your retirement, and transfer them to your heirs in a manner you specifically authorize, with built-in protection and federal estate tax sheltering across multiple generations. Whether it fits your situation depends on the size and structure of your estate, your state of residence, and your multigenerational goals.

Question 62

Can you help our family when it is time to actually execute the estate plan?

Accepted Answer

Yes. FirsTrust plans for the entire lifecycle, not just document creation. When the time comes, your FinancialTeam helps trustees and heirs execute the plan, navigate around probate, coordinate asset transfers, and ensure the transition happens according to your documented wishes.

Frequently Asked Questions

Still have questions?

Your Questions, Answered

Who is FirsTrust?

What does “FinancialTeam” mean?

Is FirsTrust a fiduciary financial advisor?

What does it mean that FirsTrust is “independent” and “fee-only”?

Where is FirsTrust located and do you work with clients outside your local area?

If your wealth has outgrown ordinary advice, we should talk.