Fiduciary Wealth Management Services in Pittsburgh
We get it. Everyone is different and your uniqueness should be rewarded with a service level and cost structure that's built for you. That's why your service plan is based entirely on your needs, goals and objectives.
A customized financial planning and advisory engagement on your terms. Every engagement starts with financial planning. It’s your choice if you want investment management.
Your financial plan is designed to take you where you want to go. Without a plan, you don't know where you'll end up.
So, what is financial planning? Financial planning, as defined by the CFP Board, is a collaborative process that helps maximize a client’s potential for meeting life goals through financial advice that integrates relevant elements of the client’s personal and financial circumstances.
Our first meeting is focused entirely on learning about your situation, what's causing you concern, and what you want to accomplish to see if our approach is appropriate for your needs.
2Data Collection -
Based on your goals and the problems you need solved, we will request a short list of documents and information. As we conduct our review, you’ll likely hear from us a few times to clarify some details.
We will review your financial documents, and assess risks and opportunities in your situation, and any other salient issues that should be addressed.
Our next meeting is a workshop in which we dive deeper into the different components of your financial life with you, and clarify your big picture and long-term goals.
In our final meeting prior to engagement, we present our preliminary recommendations relative to your situation, and walk you through our approach to how we would eliminate your immediate concerns and how we structure our plan to help you achieve your planning goals.
If we feel we can add significant value to your situation, and you want us to help, we will create a financial plan with fully transparent pricing that addresses your service needs.
Once you know where you need to go, it’s time to get going. We will guide you through your first steps, and each incremental step along the implementation of your customized financial plan.
8Monitor & Review -
A financial plan is the starting point, not the ending point. Monthly, quarterly, semi-annual, and annual reviews are necessary to review progress, update assumptions, and make changes as your life and needs evolve.
At the end of the day, it’s the process of planning that drives results. Your plan is a critical document, no one’s life or money is static, and good planning means keeping on top of changes. As part of the on-going relationship we communicate with you and meet with you regularly.
Financial planning is a one-to-one activity in which we devote our time and effort solely to you. Planning will help you stay organized and guide your financial decisions so that you make progress.
Ultimately, planning results in your own personal financial road-map. Your plan primarily deals with preserving, protecting, growing your assets while converting your hard earned dollars to long-term wealth. The plan holds you accountable and helps you achieve your personal financial goals.
The best time to build a financial plan was when you graduated from college.
The second best time is today.
No two clients will have the same plan. It is unique to you and built around your needs. Depending on your situation and how you want your money to work for you, we offer flexible engagements across a wide variety of practice areas.
Key Practice Areas:
Cash Flow Planning
Retirement/Social Security/Medicare Planning
General Estate Planning
General Tax Planning
Financial Position Analysis
Investment Management Services
This is where the rubber meets the road.
Investment management is intertwined with financial planning as part of a comprehensive wealth management process. It is the actual implementation of the personal financial plan. Unlike planning aspects, it is a one-to-many exercise. This means that our firms’ efforts in research and portfolio construction can be scaled across many different clients. Thus, regardless of number of clients our research and analysis is the same.
We develop portfolios specific to clients and contain the following goals and features:
Key Practice Areas:
Security Selection & Analysis
Investment Policy Creation
Tax Loss Harvesting
Performance Reporting & Analysis
Clients are treated in the same way we would want to be treated if the roles were reversed. We believe that it is a tremendous honor to be offered the opportunity to assist in handling an individual's, a family's or a corporation's money. We give every client, every relationship the respect it deserves. That's why every client is provided individualized services, specific to their goals and objectives.
We define private wealth management as an aggregate set of services that help clients manage, maintain and control their financial wealth. When you hire Kathleen S. Wright Associates, Inc. as your financial planner, investment advisor, financial advisor or wealth manager we put your best interests first. Our duty is to serve you.
Our goal is to work with a select group of clients for which we build deep and lasting relationships and help them grow and protect their capital over the long-term. We feel the most satisfied when clients reach their goals.
By delivering a fiduciary and client first mentality and seeking delightful experiences.
By focusing on continuous education and learning, exploring a wide array of disciplines and knowledge areas, and figuring ways to creatively incorporate them into client plans and portfolios.
By implementing and using sensible, time tested, and long-term oriented processes with empirical evidence of success.
Clients receive our best work when there are high levels of mutual trust and respect.
We work best with clients that are like us.
Our Ideal Clients have the following main characteristics:
1Successful - They tend to be small business owners, corporate executives, or professionals.
2Good Stewards - They tend to be responsible savers and not spenders.
3Delegators - They tend to trust professional service organizations and are willing to outsource management of certain parts of their lives.
4Technically Minded - They tend to be good with details and are good at identifying and understanding idiosyncrasies.
5Independent - They tend to think for themselves and be the “engine of their own machine”.
6Thoughtful - They tend to not be superficial and try to focus on the layers under the surface.
7Think Long-Term -
They tend to have courage of their convictions and are not swayed by short-term noise.
Great relationships come in many different flavors. Everyone has different time horizons, different risk tolerances, different dispositions, different opinions and different needs, goals and objectives. Clients are treated and met at their level. However, a unifying trait that runs through the bullet points above is a strong desire to learn. It's how we all get better.
Wright Associates provides fee-only financial planning and investment management services. See specifics below, or download our Form CRS located at the bottom of this page.
When it comes to fees our goal is to be clear and transparent. Our only source of revenue is from you. We do not collect commissions or trailing fees for any products we use in your accounts. We believe this arrangement helps us maintain a strong alignment with you.
We work with many different types of clients, whose needs vary. That’s why we offer options to best fit your needs.
We charge one fee for our wealth management services. You have the option of picking two ways to be charged.
Option One is to split planning and investing into two separate fees. Flat fees for financial planning ranging from $100 per month to $1,000 per month based on the breadth, depth, complexity, and level of services required by a client. Variable fees for investment management in the form of percent of assets under management (“%AUM”). They are 0.50% on the first $10,000,000 and drop to 0.25% for incremental amounts over $10,000,000.
Option Two is to be charged an all-in-one comprehensive fee that includes our full suite of services for both planning and investing. It follows this schedule:
We also accept credit card payments for financial planning fees through our financial planning software Right Capital. The service is Right Pay and is just another option to make your life easier.
A comprehensive fee tends to be right for clients who meet the minimum fee requirements and who require both financial planning and investment management but enjoy a straightforward arrangement and don’t want to be constrained on the services they receive.
An ala carte fee is a good choice for clients who wish to control costs or wish to engage in professional services but on a limited basis. More generally, ala carte pricing enables Wright Associates to provide professional services at reasonable fees for clients early in the capital accumulation process. Or for clients who wish to manage their own money but want a second opinion or a review of their accounts and financial standing.
Important: All fees paid to Kathleen S. Wright Associates, Inc. are separate and distinct from any fees paid for trading or to underlying fund management companies.
Please review our ADV for further clarification on how we charge for our professional services. For reference our ADV may be downloaded from the link at the bottom of this page.
Please note: The scope of any financial planning and consulting service depends upon the terms of the engagement and the specific requests and needs of the client. Wright Associates does not serve as a law firm, certified public accounting firm, nor an insurance agency. Wright Associates does not prepare legal documents or tax returns, nor does it sell insurance products.