FirsTrust Overview


FirsTrust is an ensemble of fee-only NAPFA and SEC-registered financial advisors.

While headquartered in Daytona Beach, FL, FirsTrust also services clients through three other Florida-based offices, located in Orlando, Tampa, and Boca Raton, as well as through its office in Atlanta, Georgia.

FirsTrust serves its clients through a highly qualified and experienced team of 9 financial managers who manage $183,000,000 in client assets over 113 client accounts, with the average client holding being approximately $1,619,469.

Client assets are typically not held by FirsTrust directly.

Instead, the company uses qualified, independent custodians, such as TD Ameritrade and Charles Schwab, who provide regular reports and statements directly to clients.

While clients are consulted at every stage, the firm does use its discretion, under a limited power of attorney arrangement, to manage client accounts. This ensures that qualified advisors can act in the best interest of a client without first obtaining specific client consent.



History – How Did FirsTrust Start?

Michael T. Koenig, Managing Partner and CEO of FirsTrust, conceptually founded the company in 1994. In 1998, the firm registered with the SEC as a Registered Investment Advisor.


Background

Clients are offered a vast range of services, including financial planning services, portfolio management for individuals and/or small businesses, portfolio management for businesses (other than small businesses) or institutional clients, pension consulting services, and selection of other advisers (including private fund managers).

The firm’s advisory services are personalized to meet each client’s individual needs and goals, which are clarified through in-person meetings and other communications.

As part of this “discovery” process, clients are free to impose restrictions on the firm with respect to the types of securities and other investment strategies they feel comfortable with. Such criteria are documented in a signed Investment Policy Statement (IPS) prepared for each client.

FirsTrust services are offered to a broad array of clients, including individuals, businesses, families and their related entities, trusts and estates, and family businesses.

The firm’s clients comprise a mix of high-net-worth individuals (62.5%), individuals other than those with a high net worth (20.83%), pension and profit sharing plans (8.33%), and charitable organizations (8.33%).  

As fee-only advisors, the firm offers clients a range of fee structures, including fixed-fee arrangements, hourly charges, and fees based on a percentage of client assets managed.

Members of the firm’s executive team enjoy great peer and industry respect as shown through their positions on key industry committees and boards, including membership in the Best Practices Board for the Institute for the Fiduciary Standard.



What We Like About FirsTrust

Ensemble of fee-only advisory services

FirsTrust prides itself as being one of the country’s largest ensembles of fee-only firms of NAPFA-registered financial advisors. What this means is that the advisors of the firm are paid in a transparent manner for advice delivered to clients, without clients bearing the burden of unnecessary fees, expenses or commissions.

Independent advice

Although the firm offers clients access to a wide range of global investment products, the firm maintains its independence in advice to clients based on a perfect fit between client needs and the investment products being considered.

Coordinated advice

At the start of each week, all advisors associated with the firm, including those working off-site or located internationally, meet to discuss coordinated efforts to assist clients with unique, individualized service needs. This ensures that clients receive highly personalized advice based on their specific needs.

Comparison shopping for client benefits

FirsTrust advisors leverage their global networks and state-of-the-art technology to do comparison shopping for products worldwide that can potentially meet clients’ specific wealth management needs.

Customizable team approach

Clients of the firm can custom-design their very own personal wealth advisory team, depending on their unique needs, from a deep bench of highly qualified professionals of several disciplines of personal finance and wealth management.

Array of investment product choices

FirsTrust clients have access to a wealth of global investment products, including highly revered industry leaders like Fidelity, Vanguard, Edward Jones, Perishing, Wells Fargo, UBS, and many others.

Safety of client funds guaranteed

Clients of the firm get added peace of mind knowing that their funds are never held directly by FirsTrust. Clients retain full custody of their holdings in accounts maintained at reputable discount brokerages like TD Ameritrade, Charles Schwab, and Fidelity.

Regular and detailed reporting

The firm has technology in place to assimilate financial data from multiple sources and consolidate it into a single report. In addition to reports received directly from their discount brokers, clients are also able to receive dozens of analytical reports from FirsTrust about taxes, transactions, and portfolio performance. 



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FirsTrust Review – Team Members

FirsTrust uses an ensemble team approach to deliver truly customized services to its clients.

What that means is that clients may choose multiple advisors from the firm’s large team of skilled and qualified team members.

The FirsTrust team includes members with industry recognized designations such as CFP®, CFA, CMFC®, CIMA®, MBA, CLU, CHFC, and MTax, amongst others.

  1. Michael T. Koenig, CFP®
  2. Christopher Cannon, CFA
  3. Michelle Cannon
  4. William J. Kearney, Jr.
  5. Jeffrey Battles, CMFC®
  6. Daniel Brownsberger, CIMA®

…Click here for the most updated information on FirsTrust’s advisors

Fees:

FirsTrust Fees 2

FirsTrust Fees

Image source: Adviserinfo


FirsTrustReviews – Services

At FirsTrust, clients can build their own menu of services based on their personalized needs by assembling a multi-disciplined team of advisors, each specialized in specific service areas.

Specific services offered by FirsTrust include:

  • Investment management
  • Tax planning and consulting
  • Trust & estate services
  • Financial planning

FirsTrust Address Information (Local Offices):

  • Corporate Operations: 113 Executive Circle, Daytona Beach, FL 32114
  • Other Florida-based offices located in Orlando, Tampa, and Boca Raton

FirsTrust

Image source: Bigstock


To Contact FirsTrust:

  • Tel: (386) 788-3737, (800) 585-9888


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