We want to be the financial planning company people turn to when they want to be confident they are getting financial advice that is in their best interest, through all phases of their life.top
Wesling Financial is a fee-only, retainer-based financial planning firm. What does this mean for you? The fee-only part means we strictly provide advice, with a high degree of personal attention. We do not sell financial instruments or insurance. We advise you on the appropriate financial strategies for your specific life situation, without any of the potential conflicts occurring when a financial professional is also a salesperson.
The retainer-based part means clients are charged a flat fee for our services. Many other fee-only planners base their fees on a percentage of the value of the client's accounts they manage--in other words, the more money they watch for you, the more you pay.
While this may seem reasonable, it actually makes little sense at all for you. From another firms’ perspective, if you make more money following their advice, shouldn't they get more money? There are three fallacies with that logic. First, it takes little, if any, more time to set-up and manage a $2,000,000 account than it does to manage a $1,000,000 account.
Second of all, let's say it's in your best interest to pay off loans or acquire other assets outside your brokerage accounts using some of the assets in your brokerage accounts. If you do that, the value of the accounts being managed goes down, and hence the advisor’s fees would go down. See how it's not in this advisor's short-term financial interest for you to pay off that loan or to buy that income producing rental property?
Third, your financial advisor does not control the stock market, the bond market, or any other investment market. So then, why should you pay your advisor more money when the inevitable occurs? That inevitable occurrence is, of course, the rise in the stock market, based on the last 75 years of returns. Ask any advisor with a positive attitude “Has the stock market gone up or gone down over the last 75 years?” Ask the same advisor if he or she should be penalized when the investment plan that person put in place is heading down due to a “market correction.”
When you’re ready to keep more of your own money, give the Unbiased Advocates a call.top
Tim Wesling is the principal financial planner at Wesling Financial Planning Services Corp. He is a retired Air Force officer, and started Wesling Financial Planning Services Corp after completing nearly four years with Morgan Stanley.
Tim is a Certified Financial Planner™, an Accredited Investment Fiduciary®, and a Certified Divorce Financial Analyst™. He is also a member of the National Association of Personal Financial Advisors and the Financial Planning Association. For a full list of Wesling Financial affiliations, please see our Affiliations page.top
Get expert advice in The Financial Planning Newsletter published quarterly.
Volume 12, Issue 1
Volume 11, Issue 4
Volume 11, Issue 2
Volume 10, Issue 2
Volume 9, Issue 4
Volume 9, Issue 3
Volume 9, Issue 2
Volume 9, Issue 1
Published Statements by Wesling Financial Advisors
"Plastic also can be helpful in emergency situations, such as a health-care crisis," said Tim Wesling, president of a personal financial planning firm in Alexandria, Va. "A lot of times what people might consider essential, really isn't essential," Wesling said. "But if you are sick, and you don't have money or insurance, then [paying the medical bill is] an adequate reason to use a credit card." Budgeting also gives consumers room to use their credit cards. "When they have already budgeted [the expense]," Wesling said, "they can pay it off every month."
- Dow Jones MarketWatch, April 20, 2009, Five ways that credit cards can give consumers an edge. Ruth Mantell is a MarketWatch reporter based in Washington.
In an InvestmentNews article discussing the difficulties clients go through in keeping track of the cost basis of their investments, Tim noted that this information is readily available. "Clients would benefit tremendously if brokerage firms added a small amount of cost basis data to their client statements."
- InvestmentNews, November 13, 2006, Gridlock Likely Despite Dems' 'Civility' Vows. (Sara Hansard)
Tim provided insights into how a Democratic majority could affect individual financial planning, including the impact of minimum wage increases and added benefits for parents saving for college costs.
- InvestmentNews, October 30, 2006, Congress May Look to Reduce Tax Gap with Cost Basis Reporting. (Sara Hansard)
The Alexandria Times published an article announcing Wesling Financial's creation of the Alexandria Index™.
- Alexandria Times, Taking Stock: Alexandria Index™ Shows Strong Local Growth. (Tim Wesling, December 2006)
The April, 2007 issue of the Washington Diplomat quotes Tim's recommendations on how to select an ethical and capable financial advisor.
- Washington Diplomat, Finding Right Advisor Key to Sound Investment Planning. (Sanjay Talwani, April 2007.)
In an article in Dow Jones Newswire, Tim discusses an important program offering free financial advice to the survivors of military personnel, both active and retired.
- Dow Jones Newswire, DJ PRACTICE MANAGEMENT: Financial Advice In The Time Of War. (Kristen McNamara, April 5, 2007. )top
Office Address: 6621 Wakefield Drive, Suite 113
Alexandria, VA 22307
Postal Address: 107 S. West Street, PMB 747, Alexandria, VA 22314
General Information: email@example.com
Press Inquiries: firstname.lastname@example.org