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Goals-Based Wealth Management

Goals-Based Wealth Management

A personalized approach to managing your financial future, starting with a detailed conversation to understand your financial goals, risk tolerance, and personal circumstances. This includes considerations such as income security, concentrated stock positions, business ownership, family changes, and aspirations for yourself and those you care about.

The process involves projecting investment returns across a variety of scenarios, factoring in taxes, fees, and inflation. The goal is to create and manage portfolios that align with your specific needs, balancing return potential, risk, and liquidity, offering transparency about the impact of costs and market fluctuations.

As your situation and external factors evolve, ongoing discussions and adjustments ensure your strategy remains aligned with your goals. The approach is designed to provide a more comprehensive and responsive wealth management experience compared to traditional methods.

Integrated Wealth Management combines investment consulting/management, advanced planning, and relationship management offering the opportunity of ensuring your objectives across personal, family, business, and philanthropic areas are met or exceeded. This holistic approach aims to maximize your chances of success.

Addressing the Common Pitfalls

Addressing the Common Pitfalls

While pie charts may appear to offer diversification, they can be misleading. True diversification involves selecting asset classes with returns that don’t move in the same direction or to the same degree, ideally with opposite movements. This helps balance losses in one area with gains in another. However, pie charts often fail to show whether a portfolio is truly diversified or simply correlated to the market. Investors may experience "stock overlap," where different mutual funds hold the same companies, which doesn’t improve diversification.

A study by Elton and Gruber found that diversification stops improving after owning about 30 different securities—adding more doesn’t make a meaningful difference. Despite this, many investors mistakenly believe they’re well-diversified when they may not be.

Pie charts, often used in a "set it and forget it" approach, do not manage investment risk, react to real-world market changes, or preserve principal during market declines. While visually appealing, they cannot ensure effective risk management or consistent returns. They are often misused by financial advisors, failing to address the true needs of clients.

About Us
Work With The Best

We’ve been successfully helping people just like you for over 30 years. We know that the “cookie-cutter” approaches that are easily available are not the best option. That is why we have created, and perfected, our process to learn all about you and your unique situations. Then craft a customized plan that fits you best.

Complimentary Consultation

  • At FirstHarvest Wealth Management Group, safeguarding client assets is a top priority. We use an independent, unaffiliated custodian, Raymond James Financial, which manages over $1.56 trillion in assets. Raymond James provides secure online access, reporting, and audit trails for all transactions, ensuring transparency and security.

  • During times when all asset classes are under pressure, cash may be the best option. In bear markets, where stock prices fall by 20% or more, we may choose to move investments to safer cash equivalents. Using low-cost Exchange Traded Funds (ETFs) makes this defensive strategy cost-effective, as ETFs can be traded throughout the day, unlike mutual funds.

  • We use fundamental analysis to help us with what to buy, Technical analysis to guide investment decisions of when to buy, focusing on price movements rather than company or industry stories. We prioritize relative strength—when a security shows higher highs and higher lows, indicating higher demand—and actively evaluate market conditions to seize opportunities. Our ability to create customized asset allocation blends ensures we meet diverse client needs.

  • We implement a "Sell-Side Discipline" by setting predefined exit points for each investment. If an investment price hits a predetermined loss threshold, it is sold, protecting profits and minimizing risk to principal. This approach helps mitigate risks during market corrections.

  • We invest primarily in ETFs, bonds, stocks, and some alternative positions that provide daily liquidity, ensuring clients can access their funds when needed. This approach also allows us to react swiftly to market declines, protecting client assets in volatile conditions.

Contact Us
It's All About You!

At FirstHarvest Wealth Management Group, we prioritize your life and goals, not just your portfolio. We begin by listening carefully to understand your unique needs and concerns. This personalized approach helps us provide the best service and protection for your financial future.

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