Wealthcare Financial | Financial Advisors | Wealth Management

4 Steps You Should Take After Being Laid Off from META

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Who is META Communications Inc?

META, the parent company formerly named Facebook, Inc, is an American technology conglomerate based in Menlo Park, California dealing with social media and virtual reality. Most notably, its founder CEO Mark Zuckerberg founded this company in February 2004 which owns popular companies like Facebook, Instagram, and WhatsApp, among other products and services.

META is the ticker symbol listed on NASDAQ which is known for the massive social networking, advertising, and business insight solutions provider which has over 87,000 employees. This conglomerate generates a whopping $85 billion in revenue.

Are You Part Of The META Employees’ Mass Layoff? Do this now:

What to do after being laid off from META ( formerly Facebook, Inc.)

  1. Slow down and get ready to make a plan.

    Relax, take a deep breath and tell yourself you’ll will be OK!Taking a deep breathe

  2. Take a financial inventory

    Did you take severance pay? How about cashing out any unused sick or vacation pay? Also, review your 401(k) and any stock options you might have taken advantage of during your time there. Lastly, review all of your layoff documents.

  3. Decide which assets to use, in order

    We recommend working with a financial advisor as drawing money from these accounts can have serious penalties and tax consequences.

  4. Network and look for a new job!

    Update your resume and start leveraging your personal and professional networks such as LinkedIn.

What is the reasoning behind a meta layoff?

Meta claims the layoffs were made in order to make significant changes across the board to operate more smoothly. Most recently, with the economic downturn, increase in interest rates, and competition Meta miscalculated the post-pandemic demand for technology products such as access to the Metaverse and other services. However, Zuckerberg mentioned that he will brace most of the blame for the company’s failures.

What does a layoff mean?

A layoff is defined as a discharge, especially temporary, of a worker or workers. In some cases, you might be entitled to a severance package and unemployment benefits. In Meta’s case, due to the recent economic condition and lack of growth, this is their largest layoff which has reached news outlets such as; The Wall Street Journal, Reuters, Bloomberg, and Business Insider.

What is a quiet layoff?

As a tech giant, Meta is handing over pink slips to about 13% of its workforce. Due to budget concerns Meta’s CEO is utilizing quiet layoffs, which is when they create non-ideal working conditions for some employees which follow team restructuring.

Is Meta on a hiring freeze?

Last week, Meta, Inc confirmed job cuts of nearly 13% which would let more than 11,000 Meta Employees go. CEO Mark Zuckerberg also said they are extending the hiring freeze through Q1 of next year.

Who gets cut first in Meta layoffs?

Meta layoffs were made across all departments however, it is almost certain that the contractor workforce, recruiting, and business teams were affected more than other areas. There is no sure way to tell if an employee was underperforming, failed the performance improvement plan, etc. With over 11,000 layoffs from a social network company, it is hard to have a reason for each and every one.

Who is on the chopping block at Meta?

Meta will bring its “large-scale” layoffs this week and could very well continue into 2023. The big tech company mentioned that it will continue its initiatives to cut costs, including scaling back the budget, reducing employee perks, and shrinking its real estate footprint.

Are any other tech companies doing mass layoffs?

Meta isn’t the only tech company doing mass layoffs. Microsoft in July trimmed less than 1% of its workforce and most notably Twitter laid off 50% of its workforce as Elon Musk took ownership. While some tech companies are choosing mass layoffs, others are expanding, such as competitors TikTok and Amazon.

Is Intel laying off?

Intel confirmed its plan for layoffs in an effort to save $3 billion next year. Still, no headcount has been set on the number of employees being laid off, but according to Bloomberg it will hit Intel’s sales and marking teams particularly hard.

Choosing the Best Physician Disability Insurance

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A physician’s world is full of unpredictable situations. You can easily become disabled and fail to work in the industry you rigorously trained for in medical school. With an individual physician disability insurance plan you protect your greatest asset which is your ability to earn a paycheck.

What Is A Disability Insurance Policy?

A disability insurance policy is an agreement with an insurance company to pay a monthly benefit when you become disabled. Having a disability insurance policy is one of the most efficient ways to protect a significant portion of your income. Disability insurance is a benefit that is paid out to you tax-free.

Why Do Doctors Need Disability Insurance?

It’s common to find doctors paying for a life insurance policy but forgetting to consider disability insurance coverage for those unforeseen situations. Physician disability insurance is crucial because this is a profession that has a greater statistical possibility of suffering severe disability or other medical conditions that paralyze your working capability. The right individual policy will cover your specific occupation in case you are unable to perform those duties. As stated by the social security administration, 1 in 4 of current 20 year olds will become disabled at some point in their career.

How Does Disability Insurance Work?

There are several ways you can design disability insurance. Most importantly, for physicians we ensure that their medical specialty is covered so, you can expect to get disability benefits for injuries that prevent you from working in your specialty. This type of policy will continue to pay monthly benefits even if you can work in another profession. The amount you receive and how long the benefits will last depend on general policy guidelines, underwriting and ultimately how the policy is designed. Since benefits come out tax-free, premiums are not tax-deductible.

What Are the Three Types Of Disability Insurance?

You earn a disability income based on the specific type of insurance coverage you have. The main types included:

Short-Term vs. Long-Term Disability

Like any health insurance, you can choose an insurance policy that serves you for, say, five years or extends to a lifetime. A long-term disability is mostly individual-based and has a longer payment waiting period. As a physician, it’s advisable to choose long-term disability to protect your income for longer period of time and short-term for temporary injuries, pregnancies, etc.

Short-Term Disability Insurance

Short-term pays insurance benefits for workers who experience temporary injuries and sicknesses. It’s a non-cancelable plan that is typically provided via an employer group plan. Although, it’s rare to find an individual plan, it is most advisable to pick the group coverage due to the high cost of premiums. The typical waiting period is 7 days and it pays benefits for up to 6 months.

Long-Term Disability Insurance

Long-term disability insurance is a benefit period of coverage for injuries and illnesses that prevents you from working for an extended period. It is the best disability insurance if you are looking to protect your income for a significant period of time. The benefits end once you have recovered. The typical waiting period is 90 days and it pays a monthly benefit until age 65.   

What Does Disability Insurance Cover?

A disability insurance policy covers all injuries and illnesses that limit you from performing expected tasks of your medical specialty. Apart from severe disabilities, this insurance can cover arthritis, back pain, cancer, depression, diabetes, stroke, and heart disease, among others. We recommend physicians having enough disability benefits to cover their living expenses and retirement savings.

What Constitutes A Disability?

According to most disability insurance companies, an insured is totally disabled if, due to a sickness or injury, the insured is not able to perform the material and substantial duties of his or her regular occupation. Before purchasing any disability plan it is important to review the definition of disability to make sure your appropriately covered.

Own-Occupation, Specialty-Specific

Every single physician should have the own occupation rider on their disability policy. There are different specialties in the medical field and it’s important to have coverage for your specific occupation. Depending on the insurance company, you will have coverages for dentists, surgeons, radiologists, internists, and much more. For all physicians, we highly recommend own occupation, specialty-specific coverage, which will pay you when you become disabled.  

What Is Own-Occupation?

Own-occupation disability insurance covers your regular or own occupation up to the age of 65. Depending on the insurance company, you can continue to collect monthly benefits even if you are working in another career, as long as if you are disabled from your own specialty. So, if a surgeon develops a musculoskeletal condition and can’t perform surgery, but becomes a successful Real Estate Broker, they will continue to get the monthly benefits from the insurance company.

Transitional Own-Occupation

This is a renewable policy where the insurance company will pay the benefits if you can’t work in another occupation and start earning in a new career. However, your gross new income cannot exceed what you earned originally. Your disability benefits automatically offset a high income in your new occupation to balance your new income and nothing more than what you earned in the medical field.

Modified Own-Occupation

This is another own-occupation definition of disability where a person receives benefits in their own occupation when facing total disability. However, the benefits cease when the person wants to earn in another occupation. It is important to know if your policy offers own-occupation over modified own-occupation.

Any Occupation

This type of disability insurance is most commonly offered through employer-sponsored group plans. It covers long-term disability for low-cost, where one is considered totally disabled and they cannot work in any occupation. It is the least beneficial coverage not covering your specific occupation.

Why You Need A Own-Occupation, Specialty-Specific Policy?

Medical professionals are encouraged to purchase true own-occupation because it’s the only definition of disability insurance that allows them to work in another field while continuing to collect monthly benefits. Whether it’s for full or partial benefit, it’s the most efficient way to cover your income during those rainy days. Besides, it’s quite easy to apply.

Presumptive Total Disability

Any medical condition that is not obviously or easily presumed as total disability is called presumptive disability. Such conditions included blindness, total hearing loss, and loss of speech or limps. You can apply for individual disability insurance coverage under such a disability and get full benefits.   

Mental Disorders

An individual is said to have a mental disorder when they have a clinically significant disturbance in their cognition, emotional regulation, and behavioral well-being. It’s also a condition that would require disability insurance coverage since it could result from work-related stress such as physician burnout.

Cosmetic Surgery

According to some disability insurance providers, if the insurance is totally disabled due to cosmetic surgery, benefits will paid. Also, the elimination period must be satisfied in order to receive benefits for total disability due to cosmetic surgery.

Required Transplant Surgery

Medical insurance can cover medical expenses involved in organ transplant surgeries. This is a complicated procedure that can potentially lead to disability. The insurance does not cover pre-hospitalization and post-hospitalization, though. In some cases, the transplant must occur more than six months after the issue date of your policy.  

Substance Abuse

All insurance companies on the market have cover plans for mental health and substance abuse. Every insurance company is different on how they treat substance abuse, which is why we recommend reviewing coverages through different insurance companies like Ameritas, MassMutual, etc. The particular plan will determine the percentage of treatment covered and how much you will get benefits.

Disability Insurance Exclusions & Limitations

When applying for disability coverage, if you’re young and healthy you will have a streamlined underwriting process that will get you approved in a short period of time. In the cases of having preexisting medical conditions, the underwriter might exclude certain coverages on the plan. Within two years of having the policy you will be excluded from, self-inflicted actions, acts of war, rebellion, operating a vehicle under the influence, and criminal activities. Other limitations are categorized under preexisting conditions, nervous limitations, substance abuse limitations, and the other factors mentioned above.  

Residual Disability

A policyholder gets part of the total benefits indicated in the policy as a residual benefit. This means that if you have a loss of income due to a disability the insurance company will allow you to continue working part time while collecting a portion of your disability benefit. Depending on the company, residual is paid when you have a loss of 15% or more of income and if your income loss exceeds 75% they will pay you your full benefit amount.

Partial Disability vs. Residual Disability

In partial disability, an employee must have a total disability during the elimination period, while the residual disability does not require total disability during the elimination period. The AMA offers explicit guidelines on how employers and employees must deal with such coverages in group plans. 

Disability Insurance Riders for Physicians

There’s many ways you can design a disability insurance policy to make sure your needs are met. With additional premium, you can purchase these riders to enhance your policy. Please note, different companies call them by different names. Common riders include:

  • Student loan coverage
  • Own-Occupation
  • Residual
  • Non-cancelable
  • Catastrophic disability
  • Cost of living adjustment

A partial disability rider or residual, for instance, pays an employee who can still work part of the time.

How to Choose the Right Disability Insurance Company?

There are many disability insurance companies today to choose from. If you are looking to purchase disability insurance, consider the following five factors:

  • Individual vs. Employer-sponsored Group Policy – In the case of a group policy, check the underwriting requirements as well as how close is the benefit to my pre-disability income. We recommend layering group coverage over your individual coverage since the group coverage isn’t portable.
  • Definition of disability – how does the insurance company define disability?
  • Own Occupation – how does the insurance company define own-occupation?
  • Premiums – Am I taking advantage of the medical professional discount?
  • COLA Rider (Cost of living) – reviewing what the annual benefit increases would be to keep up with inflation.

There are many factors to consider, including other policy benefits and collection time. Take time to read through a policy before moving forward with coverage.

Commonly Asked Questions By Physicians

What if the physician practitioner is not using SDI online?

If a physician is not using SDI online, it’s free and simple to setup. SDI online is available 24 hours a day and you can create an account in less than 10 minutes. We recommend using SDI online as it will save you money, secure and convenient to use.

Is Northwestern Mutual disability insurance own occupation?

No, Northwestern Mutual does not offer a true own-occupation policy to physicians. They offer a modified own-occupation coverage that allows you to collect benefits, as long as you are not engaged in another profession.

Is getting disability insurance worth it?

Yes, disability insurance should be part of your financial plan if you are a medical professional. The cost is nominal compared to your salary and the benefit you will receive if you become disabled. Purchasing a disability insurance policy protects you against unforeseen conditions that may make it impossible for you to do your normal daily activities and earn an income.  

How much does disability insurance cost?

The cost of a disability plan varies depending on benefits, age, gender, occupation, riders, and medical history. Expect to pay between one and three percent of your annual salary.  

Is disability insurance the same as life insurance?

No. While they both offer income replacement and can be purchased through an insurance agent, each has distinctive differences. Life insurance benefits your beneficiaries, like a guardian, when you die, whereas disability insurance pays you while still alive if you face a disability.

What are the benefits of SDI?

Streamline claims processing! State Disability Insurance includes both disability insurance and paid family leave benefits. There are certain qualifying criteria’s you have to go through for their disability insurance which is similar to an individual disability policy. Please note, 70% of applicants who apply are denied.  

How Much You Need To Make To Live In The Wealthiest Zip Codes In Florida

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Florida offers a host of reasons one might want to live in the state but for many people, the lack of state income tax is the biggest reason. Because of this, the sunshine state has become a playground for the wealthy. 

United States Median Household Income

As you’ll notice in the chart above, Florida falls well below the average median U.S. household income. In fact, according to U.S. Census data, the average household income in Florida is the 8th lowest in the country. But this is far from a representation of the wealthiest zip codes in the sunshine state. 

Wealthiest Zip Codes In Florida

Zip code 33480 is located in Palm Beach County on the east side of the state. Golf courses, sandy beaches, and mansions are some of the main attractions here. When looking at the latest IRS Tax Return data from 2019, of the 8,570 people who filed their taxes in this zip code, 970 made $25K or less, but 4,250 people made $200K or more. Overall, the majority of residents in the 33480 zip code made $100K or more. 

Highest Paying Jobs In Florida

According to the U.S. Bureau of Labor Statistics, the top paying jobs in Florida in 2021 were Anesthesiologist, Cardiologist, and Radiologist. With 4,970 people working these jobs in Florida and 30,144,900 people employed, that’s only 0.01% of the state working these types of high paying jobs. 

Owning A Home In The Wealthiest Zip Codes In Florida

What would it take for someone to own a home in one of these zip codes? Let’s look at the average price of a home in the top 3 zip codes. 

In September 2022, the median listing home price in zip code 33480 was $1.8M, trending up 63.9% year-over-year. Additionally, the median listing home price per square foot was $1.1K. Interestingly, the second wealthiest zip code actually saw higher listing prices but their overall price per square foot was just $100 less that the wealthiest zip code. 

Conclusion

To become a part of the top 1%, you don’t necessarily have to have a PHD but you do need to know how to utilize your income to its maximum earning potential. Here at Wealthcare Financial, we’re able to offer guidance and advice for how to get to the 1% with your income through investments and other financial planning strategies. Give us a call today to see how we can help you plan for your future. 

Fair Use Statement

Please feel free to use any of the graphics and figures from the data above as long as you provide a link back to the full study. We ask that you adhere to creative commons by linking back to the full study or our home page as attribution for our research. 

Methodology

Figures were produced using data from the publicly available U.S. Census Bureau, Internal Revenue Service, and Realtor.com.  

We Are The Top Financial Advisors in Melbourne, Florida

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WealthCare Financial is a Florida-based financial advisory firm that works with various clients in Melbourne. Our wealth management team has over 25 years of experience in portfolio management.

Our staff consists of certified financial planners (CFP), financial advisors, CPAs, and other financial professionals. This assures we provide quality financial advice, based on your unique financial situation, that helps you feel safe about your financial future.

Wealth Management and Financial Planning From Experienced Financial Advisors

Finding the right firm to work with can be strenuous and is rated as one of the best financial planners in Melbourne gives you an opportunity to better your financial position. As independent advisors, our clients become the center of attention. We assess your financial objectives and offer non-biased recommendations that will make it easier for you to achieve your financial goals.

Our Financial Advisors’ Number One Priority Is Your Financial Goals

At WealthCare Financial, our financial advisers steer clear from the typical “cookie-cutter” approach and instead focus on your investment goals. A custom approach will help you make better financial decisions and give you peace of mind in knowing what to expect in the future.

Financial Planning Services We Offer in Melbourne, Florida

WealthCare Financial offers a fee-only service to avoid any conflicts of interest. Since we are not captive to any specific life insurance or investment company this will ensure that we put your interest ahead of all else.

Retirement Planning

Do you plan on staying in Melbourne when you retire or move away? There are many important factors to consider when planning for retirement.

Whether you’re just starting your career, a pre-retiree, or retired every conversation should begin with your retirement plan. This will ensure that any financial adviser you’re working with will make recommendations based on your best interest.

Estate Planning

If you have assets you need an estate plan! Creating a simple will or trust will help your family bypass high attorney fees, months-long court processing times, and most importantly avoid any fighting between family members. Our firm offers an in-house attorney service to assure your estate is properly set up.

Investment Management

At WealthCare Financial, our investment advisers recommend suitable investment strategies depending on your risk tolerance. Whether you’re looking for a tactical or strategic approach to your investments our money managers will help guide you.

Tax Planning

Does your financial adviser discuss tax loss harvesting or have annual conversations with your accountant/CPA? If not, this is a major risk to your financial security as taxes play an immense part in wealth creation.

Financial services for business owners in Melbourne

We help small business owners plan their financial futures through personalized asset management strategies that will help their investment grow.

We understand that the best investment a business owner can make is in their own business. Our financial advisers assist in helping you retain employees by offering employee benefits such as a 401(k) and employee financial education.

Other Financial Services We Offer

Aside from your prototypical financial products or investment advice, our advisory services specialize in helping with simple strategies including cash flow analysis, budgeting, and many other custom strategies to benefit your financial life.

Our Clients Trust Our Financial Advisors

Founders, Shaun Tarzy (left) and Michael Boggiano (right)

WealthCare’s financial advisors have a fiduciary duty to provide clients with transparency in all phases of the relationship. In all cases, our financial advisors will share disclosures, FINRA, and member SIPC information.

A big part of financial success is trust in your financial advisor. Our clients trust us, here are some of our reviews from Google.

“Highly recommend Wealthcare Financial, very happy with their services. I have been working with Shaun and Mike for about 3 years now after being recommended to them by a friend. They have been helping me with my financial planning since graduating from residency. Great guys, trustworthy and knowledgeable. Easily accessible and quickly answer financial questions I have. They coordinate with my CPA to help make the best decisions for me. I always feel they have my best interest in mind. I am very grateful to have these guys on my team and I am in a much better position now than I was 3 years ago.”

DR. DAVID TRAFICANTE

“I have been working with Shaun Tarzy & Michael Boggiano in WealthCare Financial for almost a year. Managing personal finance while working in a busy job can always be stressful. It is a great relief to find someone knowledgeable and trustworthy who can help you. Both Shaun & Michael are very professional with solid work ethics. I value their advice, and strongly recommend them to anyone who is looking to grow their financial base.”

DR. MAYANK ROY

Common Questions We Get About Financial Planning

How do I find a good financial advisor in Melbourne?

Finding a good financial advisor can be hard. To start, check out their google reviews. Once you read through WealthCare Financial’s 5-star reviews dial their phone number and schedule a consultation. Lastly, you need to make sure you feel comfortable with who you’re working since the intention is to have a long-lasting relationship.

What is the normal fee for a financial advisor?

Fees can vary on the type of services you’re looking for. If you want to have a wealth advisor manage your assets you should expect a fee of 1.50% for anything under $1,000,000. Other accounts such as insurance products usually don’t have a fee attached unless the account is variable. Shopping around for the cheapest advisory fees is never a good idea.

Is it worth the money to hire a financial advisor?

Hiring a WealthCare financial adviser is always worth the money. The cost to hire a financial adviser is relatively low compared to the valuable information and education to achieve your financial goals. Hiring a financial advisor is not for everyone, but is important to be open to a free consultation to see if it’s needed.

What are the benefits of hiring a financial advisor?

Hiring a financial adviser will help you build strategies to accumulate your assets over time and avoid leaving money on the table. This is especially important for high net-worth individuals whom we help manage all aspects of their financial household.

What qualifications do financial advisors need to have?

The most important qualification for a financial advisor is experience. Having at least 5-10 years of experience will help find deficiencies in your plan, as well as, give you an understanding of the strategies that are implemented. Lastly, make sure your financial adviser is a fiduciary. A fiduciary is one who is required to act in your best interest.

What is the difference between a financial advisor and a financial planner?

Financial planners and financial advisors have similar roles. Typically, a financial planner will provide you with a financial plan for a fee whereas a financial advisor will usually manage your invested assets for a fee. All WealthCare advisors are experienced and actively engage on both sides for the benefit of the client.

Financial Planning & Fee Schedule

Portfolio ValueFee
$0 – $1,000,0001.50%
$1,000,000 – $2,000,0001.25%
$2,000,000 – $3,000,0001.00%
$3,000,000 + ≤ 0.75% 

Other Financial Planning Fees

On average a financial plan will take approximately 5 – 15 hours at $300/hour

Investment Plan: approximately 1-4 hours at $300/hour.

Solo 401(k): Initial cost $1,500 with an ongoing annual fee of $199/year.

Financial Planning Retainer: $199/month – $495/month depending on the complexity of the plan. 

We Are The Top Financial Advisors in Miami, Florida

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WealthCare Financial is a Florida-based financial advisory firm that works with various clients in the Miami area as well as Coral Gables. Our financial planning team will help you attain your financial goals. We have 25 years of experience in wealth management, retirement planning, and investment management.

Miami, Florida Skyline

Our team consists of financial advisors, CPAs, certified financial planners (CFPs), and other financial professionals. This allows us to provide quality financial advice, based on your unique financial situation, that helps you feel secure about your financial future.

Schedule A Personal Financial Review Today

Wealth Management and Financial Planning From Knowledgeable Wealth Advisors

At WealthCare Financial, our team of fiduciaries provides clients with a comprehensive financial plan. This plan will make sure that all of your financial needs are covered from an investment strategy to risk management. As fiduciaries, we are required by FINRA to give investment advice that is always in your best interest.

Our Financial Advisors’ Top Priority Are Your Financial Goals

As one of the top wealth management firms in South Florida, our advisory services are determined to provide clients with the right solutions. These solutions can range from portfolio management to, life insurance or you might just be looking for a financial consultant to give you guidance.

Financial Planning Services We offer in Miami, Florida

Whether you’re a young professional living in Fort Lauderdale or a retiree living in Miami Beach, we offer a wide array of financial planning services.

Investment Management

Investment management should not be based on a “cookie-cutter” approach. Our investment advisors and CFA’s work with you to determine your risk tolerance, time horizon, and financial goals. This will ensure you have the proper asset allocation within your investment strategy.

Retirement Planning

Do you plan on staying in Miami when you retire or moving away? These are important factors to consider when planning for retirement.

When starting the process of retirement planning, you need to make sure you have a trustworthy and knowledgeable financial professional by your side. Next, it‘s understanding your goals personally and professionally to determine your future financial needs. Having a good financial plan equates to excellent asset management.

Estate Planning

Having a Will or Trust is just the start of your estate plan. This will ensure that all of your assets and final wishes are distributed properly to your family. If you have a high net worth, it‘s vital to work with a CFP, CPA, and estate planning attorney who serves as our referral partner.

Tax Planning

Does your advisor regularly discuss taxes with you? Taxes play an important role in your financial plan and knowing how to maneuver through the tax code. At WealthCare, our financial advisors work with our in-house CPA to make sure that all of our clients have a better understanding of tax deductions and tax loss harvesting.

Financial services for business owners in Miami, Florida

WealthCare Financial understands working with business owners in Miami and all over South Florida. Whether you‘re a single business owner looking for a tax-efficient retirement plan or a business owner with over 50 employees wanting to add an employer-sponsored retirement plan, we can help. Depending on your specific situation, we can recommend different strategies that will benefit you as the business owner and your employees.

Other Financial Planning Services We Offer

Being a Florida financial advisor requires an understanding of investments outside of the stock market, such as real estate. Our team of advisors knows that to have a well-diversified financial plan we can‘t just focus on investment advisory. We help our clients understand alternative investments through Real Estate, Private Equity, and private placement.

Our Clients Trust Our Wealth Management Team

WealthCare Financial is in the business of building long-term relationships with our clients.

A big part of financial success is trust in your financial advisor. Our clients trust us. Here are some of our reviews from Google.

“Highly recommend Wealthcare Financial, very happy with their services. I have been working with Shaun and Mike for about 3 years now after being recommended to them by a friend. They have been helping me with my financial planning since graduating from residency. Great guys, trustworthy and knowledgeable. Easily accessible and quickly answer financial questions I have. They coordinate with my CPA to help make the best decisions for me. I always feel they have my best interest in mind. I am very grateful to have these guys on my team and I am in a much better position now than I was 3 years ago.” DR. DAVID TRAFICANTE

“I have been working with Shaun Tarzy & Michael Boggiano in WealthCare Financial for almost a year. Managing personal finance while working in a busy job can always be stressful. It is a great relief to find someone knowledgeable and trustworthy who can help you. Both Shaun & Michael are very professional with solid work ethics. I value their advice, and strongly recommend them to anyone who is looking to grow their financial base.” DR. MAYANK ROY

Common Questions We Get About Financial Planning

How much does it cost to talk to a financial advisor?

The initial consultation with a financial advisor should always be free! Depending on your financial needs, there can be an additional cost to build a financial plan or an investment plan. If you‘re looking for a transactional relationship there usually isn‘t a cost.

Financial Planning & Fee Schedule

Portfolio ValueFee
$0 – $1,000,0001.50%
$1,000,000 – $2,000,0001.25%
$2,000,000 – $3,000,0001.00%
$3,000,000 + ≤ 0.75% 

Other Financial Planning Fees

On average a financial plan will take approximately 5 – 15 hours at $300/hour

Investment Plan: approximately 1-4 hours at $300/hour.

Solo 401(k): Initial cost $1,500 with an ongoing annual fee of $199/year.

Financial Planning Retainer: $199/month – $495/month depending on the complexity of the plan. 

How much money should you have before getting a financial advisor?

You might think you need to have Brickell avenue money to hire a financial advisor and that’s not true. There’s not a set dollar amount, but having a steady income and at least three months in savings will put you in a better position to work with a financial advisor.

Can a financial advisor help with debt?

If you have student loans or any type of debt, you should make sure you work with a financial advisor that will help you look at different strategies to pay it down. The financial advisors at WealthCare will review different amortization schedules that will show you how long it will take to pay off and how much it will cost you in interest.

What are the benefits of talking to a financial advisor?

There are enormous benefits you can take advantage of just in an initial consultation with a financial advisor. A financial advisor will help you set realistic expectations for your financial goals and educate you on different products such as Mutual Funds, ETFs, Life Insurance, etc.

What should people do before getting a financial advisor?

Before working with a financial advisor, you should organize all your financial statements. These statements include any investment accounts, bank statements, debt statements, and any other information you think would be important for your financial professional. Lastly, find an advisor that you can trust and make sure to review all their disclosures.

We Are The Top Financial Advisors in Naples, Florida

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Wealthcare Financial is a Florida-based financial advisory firm that works with various clients in the Naples, Florida area. Our wealth management team has over 25 years of experience in portfolio management.

Our staff consists of certified financial planners (CFP), financial advisors, CPAs, and other financial professionals. This assures we provide quality financial advice, based on your unique financial situation, that helps you feel safe about your financial future.

Financial Planning and Wealth Management From Experienced Wealth Advisors

Through WealthCare‘s Family Office division, our financial advisors have gained knowledge and experience in working with private wealth. We as investment advisors, expect to have a significant market downturn every six years and because of this, we create a wealth plan to set market expectations. Having a strategy to achieve your financial goals will ensure that you live the financial life you‘ve always dreamed of.

Our Financial Advisors’ Number One Priority Is Your Fiduciary Future

Working with an investment advisor at WealthCare means working with a fiduciary. Whether you‘re looking for money management or insurance products we verify that your best interest is always a priority.

Financial Planning Services We Offer in Naples, Florida

WealthCare Financial offers a wide array of services depending on your specific needs. Risk management through insurance planning or discussing several investment strategies to reach your investment goals are conversations we specialize in. For higher net worth clients we offer a streamlined wealth plan through our Family Office division.

Retirement Planning

Do you plan on staying in Naples when you retire or moving away? There are many important factors to consider when planning for retirement.

Retirement planning is key to achieving your retirement goals. There are many variables that can happen until you get to retirement such as a rise in inflation or a change in social security benefits. Not planning for these variables can have a negative impact on your retirement.

Estate Planning

Have you thought about how you want your proceeds to be handled? Having an estate plan will give you peace of mind in knowing that all of your wishes will be handled appropriately. Regardless of net worth, we recommend everyone to have an estate plan.

Investment Management

Wealthcare’s investment advisers work with clients to make sure that we can deliver competitive investment performance, along with the highest level of client service. As an investment firm, we have a fiduciary duty that your investments have the proper asset allocation based on your financial goals.

Tax Planning

For most individuals, a tax plan is figuring out ways to reduce taxes. At WealthCare, we implement strategies to reduce taxes today, as well as in the future. Taxes play a significant role in our lives and if your financial advisor doesn’t have a tax plan for you, you should consider a second opinion.

Financial services for business owners in Naples

We help business owners plan their financial future through personalized asset management strategies that will help your investment grow.

For a business owner, we understand that having a positive cash flow is imperative. Business owners in Naples and across Florida really on our investment advisory services, so that they can continue to grow their businesses. Our financial services range from employee benefits to helping our business owners take advantage of tax deductions through employer plans.

Other Financial Services We Offer

Besides offering traditional financial services, we also offer tax planning, the structure of a charitable donation strategy, and debt management. These services can be offered through our family office which most clients prefer since it all goes through one channel.

Schedule A Personal Financial Review Today

Our Clients Trust Our Financial Advisors

Founders, Shaun Tarzy (left) and Michael Boggiano (right)

Wealthcare’s financial advisors have a fiduciary duty to provide clients with transparency in all phases of the relationship. In all cases, our financial advisors will share disclosures, FINRA, and member SIPC information.

A big part of financial success is trust in your financial advisor. Our clients trust us, here are some of our reviews from Google.

“Highly recommend Wealthcare Financial, very happy with their services. I have been working with Shaun and Mike for about 3 years now after being recommended to them by a friend. They have been helping me with my financial planning since graduating from residency. Great guys, trustworthy and knowledgeable. Easily accessible and quickly answer financial questions I have. They coordinate with my CPA to help make the best decisions for me. I always feel they have my best interest in mind. I am very grateful to have these guys on my team and I am in a much better position now than I was 3 years ago.”

DR. DAVID TRAFICANTE

“I have been working with Shaun Tarzy & Michael Boggiano in WealthCare Financial for almost a year. Managing personal finance while working in a busy job can always be stressful. It is a great relief to find someone knowledgeable and trustworthy who can help you. Both Shaun & Michael are very professional with solid work ethics. I value their advice, and strongly recommend them to anyone who is looking to grow their financial base.”

DR. MAYANK ROY

Common Questions We Get About Financial Planning

How much money do you need to justify a financial advisor?

There’s not a specific dollar amount you need to justify a financial advisor. In any case, a financial advisor will educate you on things that will help you reach your financial goals. For individuals just starting out, the best way is to pay for a financial plan that will act as a guide.

What is the difference between an independent financial advisor and a financial advisor with a company?

You might think that since Wells Fargo ranks higher than other firms it might benefit you to work with them. We recommend working with a financial advisor you can trust and work with an independent financial advisor you’ll typically have more options and a better relationship.

WealthCare Financial is an independent financial planning firm that has an increased offering for investment products, insurance products, and strategies that sometimes can‘t be offered by a captive financial advisor. Our financial advisors always prioritize our clients over any company.

What is the difference between a financial advisor and a financial planner?

The true difference between a financial advisor and a financial planner is up to the individual. In some cases, the advisor will act as a planner depending on their level of knowledge. We recommend working with someone who not only can act as a financial advisor but someone that will help you put together a retirement plan, insurance plan, investments plan, etc.

What are the benefits of having a financial advisor?

The benefit of having the right financial advisor is peace of mind. At WealthCare Financial, we share our knowledge to educate our clients, so they can continue living their best lives.

What is the cost of a financial advisor?

The cost for a financial advisor can vary on the services you need. In some cases, there might not be a cost for the simplest of services, but in other instances fee’s for financial plans apply.

Financial Planning & Fee Schedule

Portfolio ValueFee
$0 – $1,000,0001.50%
$1,000,000 – $2,000,0001.25%
$2,000,000 – $3,000,0001.00%
$3,000,000 + ≤ 0.75% 

Other Financial Planning Fees

On average a financial plan will take approximately 5 – 15 hours at $300/hour

Investment Plan: approximately 1-4 hours at $300/hour.

Solo 401(k): Initial cost $1,500 with an ongoing annual fee of $199/year.

Financial Planning Retainer: $199/month – $495/month depending on the complexity of the plan. 

We Are The Top Financial Advisors in Orlando, Florida

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WealthCare Financial is a Florida-based financial advisory firm with 25 years of experience as a financial planning firm that has worked with a variety of clients from the Orlando area, Winter Park, Maitland, as well as most of central Florida including Tampa and Melbourne.

File:Lake Eola Park in Orlando 01.jpg - Wikimedia Commons
Lake Eola Park, Orlando, Florida

Our staff includes a team of certified financial planners (CFP), CPAs, and other financial professionals. This assures we provide quality financial advice that helps you feel safe about your financial future. We do wealth management right.

Schedule A Personal Financial Review Today

Dedicated Fiduciary Advisors Who Create A Personalized Financial Plan

Our experienced team of fiduciaries will help you identify the areas of service that will benefit your current situation as well as dive in to see how we can grow and evolve it by giving you the best investment advisory. As a fiduciary and member SIPC/FINRA, our team of financial advisors have a legal requirement to work in the consumer’s best interest. Our non-biased approach will help you achieve your financial goals.

Founders, Shaun Tarzy (left) and Michael Boggiano (right)

Financial Planning Services We Offer In Orlando, Florida

Retirement Planning

To begin, find a financial advisor that you feel comfortable doing business with. Throughout the financial planning process, you should put together a list of financial goals as well as review your current cash flow. Do you plan on staying in Orlando when you retire or move away? Retirement planning is a lifelong process that will help you with saving, asset management, reviewing the latest social security benefits, and distribution over the course of your retirement. Combining all of these resources will lead to financial freedom.

Estate Planning in Orlando

Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. This is a crucial part of a good investment strategy. Our wealth advisors take this into account when conducting your portfolio management process. If you have not begun this process there is no better time to start than now. There is a plentiful amount of investment advisory services that can benefit your financial situation.

Investment Management in Orlando

Our investment advisors will help you with your investment planning allowing you to grow your investment portfolios to meet your financial goals. As you look for different ways to broaden your portfolio, our certified investment advisors will help you identify a proper asset allocation that fits your specific risk tolerance. Regardless if you’re a conservative investor or a risk-taker we will develop a custom investment strategy that is the best fit for you.

Tax Planning in Florida

Are taxes constantly on your mind? We help our clients create a tax efficient portfolio by creating the proper asset allocation within each individual’s custom investment strategy. Depending upon your current income it may be beneficial for you to invest money in a tax efficient area where you can withdraw money tax-free in the future. Utilizing the right investment advisory services will help reduce taxes by minimizing taxable gains and maximizing taxable losses in order to decrease your overall taxes. Tax planning is something that is always recommended to be implemented within your financial plan.

Educational Planning

Education planning is an important piece of the puzzle when putting together your financial road map. This allows you to possess the important skills that are necessary when making any type of financial decision.

Financial services for business owners in Orlando

We help business owners plan their financial future as well as help with other financial needs such as risk management. Our goal is to give our small business clients peace of mind. Our team of financial advisors specializes in putting together investment strategies for business owners.

This process is essential for those who own their own business as time may not be as plentiful. We will begin by reviewing risk mitigation through insurance products and then conducting a cash flow analysis that allows us to dig deeper into tax planning, disclosures, estate planning, and overall wealth management for what best suits your needs.

Schedule A Personal Financial Review Today

Other Financial Advisory Services

Besides specializing in investment management, tax planning and estate planning our financial advisors also have expertise in other key areas such as Life Insurance planning, 401(k) rollovers, healthcare, portfolio management, and student loan planning are all included in the conversation of financial planning. Our wealth advisors take a thorough approach to determine the best solutions for each individual.

Common Questions We Get About Our Financial Planning Services

How much does it cost to see a financial advisor in Orlando?

The average cost to see a financial advisor in the Orlando area to receive a full Financial plan ranges from $325 to $2,500. Clients pay an hourly rate to a wealth management firm

How much money should you have for a financial advisor?

There is no said amount of money or rule of thumb for when you need a financial advisor. However, it is a good time to look into it when you have a lump sump of money sitting somewhere and are unsure what to do with it. However, there is basic details listed here, On average a financial plan will take approximately 5 – 15 hours at $300/hour. While a retainer is $199/month – $495/month depending on the complexity of the plan. 

How does a financial advisor help you?

A financial advisor will help you understand the benefits of financial and retirement planning. After gathering information they create a comprehensive plan that can include, investment planning, risk management, cash flow analysis, and other determining factors based on your overall financial needs.

Financial Planning & Fee Schedule

Portfolio ValueFee
$0 – $1,000,0001.50%
$1,000,000 – $2,000,0001.25%
$2,000,000 – $3,000,0001.00%
$3,000,000 + ≤ 0.75% 

Other Financial Planning Fees

On average a financial plan will take approximately 5 – 15 hours at $300/hour

Investment Plan: approximately 1-4 hours at $300/hour.

Solo 401(k): Initial cost $1,500 with an ongoing annual fee of $199/year.

Financial Planning Retainer: $199/month – $495/month depending on the complexity of the plan. 

How much money can a financial advisor give you?

There is no definitive number that is guaranteed but a certified financial planner‘s main goal is to guide you through your financial future and help grow your net worth at the end of the day. Although a financial advisor with high rankings is more likely to efficiently aid your financial situation. Any resource consulting group puts their client‘s interest first.

Schedule A Personal Financial Review Today

We Are The Top Financial Advisors in Jacksonville, Florida

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Wealthcare Financial is a Florida-based financial advisory firm that works with various clients in the Jacksonville area and St. Augustine. We have 25 years of experience as financial advisors.

Our staff consists of financial advisors, certified financial planners (CFP), CPAs, and other financial professionals. This assures we provide quality financial advice that helps you feel safe about your financial future. We do wealth management right.

Personalized Wealth Management and Retirement Planning To Meet Your Financial Goals

Our wealth management group has a wide array of strategies that include, financial planning, retirement planning, investment management, and other advisory services. Understanding your net worth will help determine proper asset allocation in order to create an investment plan customizable for your financial future. Whether you are a business owner, surgeon, dentist, or any other type of professional, our certified financial planners and financial advisors can assist you in accessing the appropriate retirement strategies for YOU.

We Take Our Commitment To Your Fiduciary Future Seriously

Our financial advisory team will become part of your financial life. Wealthcare’s experienced team of fiduciaries will help you to identify the areas of service that will benefit your current situation and how we can grow and evolve it. As fiduciaries, our team of financial advisors has a legal requirement to work in the consumer’s best interest. Having a non-biased approach will help you achieve your financial goals.

Financial Planning Services We Offer In Jacksonville, Florida

Retirement Planning

Do you plan on staying in Jacksonville when you retire or moving away? There are many important factors to consider when planning for retirement.

To start, find a financial advisor you feel comfortable working with. During the financial planning or retirement planning process you should put together a list of financial goals and review your current cash flow.

Retirement planning is a lifelong process that will help you with saving, asset management, and distribution in retirement. So, whether you want to stay in Jacksonville or have a beach house in St. Augustine a financial plan can help you accomplish those goals.

Estate Planning in Jacksonville

Have you thought about how you want your assets and possessions to be handled? Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. In most cases, we provided a referral to our in-house estate planning attorney. If you have not begun this process there is no better time to start life planning than now.

Investment Management

As you look for creative ways to expand your portfolio, our registered investment advisors identify a proper asset allocation that fits your risk tolerance.

Whether you’re a conservative investor or a risk-taker we will help you put together an investment strategy utilizing low-cost ETF’s that will help you see long-term results. ETF’s or exchange-traded funds are part of the investment strategy, but will only make up a portion of your asset allocation.

Tax Planning

Do you talk to your investment adviser regularly about taxes? We help our clients create a tax-efficient portfolio by having the proper asset allocation within the investment strategy. Depending upon your income today it may be beneficial for you to invest money in a tax-efficient area where you can pull money out tax-free in the future.

Having the right investment adviser will help reduce taxes by minimizing taxable gains and maximizing taxable losses in order to reduce your overall taxes. Tax planning is always recommended to be implemented within your financial plan.

Financial services for business owners in Jacksonville

We help business owners plan their financial futures through personalized wealth management that will help your investment grow.

Working with business owners in Jacksonville we know how important cash flow is to the business. We understand that healthcare takes a toll on your monthly cash flow and with the right strategies you can reduce that burden. Whether you’re the only employee of the business or have over 50 employees we can help implement tax-efficient plans for you and your business. We are trusted by small business owners all over Florida.

Other Financial Advisory Services

We offer a variety of financial planning services:

Besides specializing in investment management, tax planning and estate planning our financial advisors cover other key areas during the financial planning process.

Life Insurance Planning, 401(k) rollovers, mutual funds, healthcare, portfolio management, and student loan planning are sometimes included in the conversation.

Our financial advisors take a comprehensive approach to determine the right solutions for each individual.

Our Clients Trust Our Financial Advice

Wealthcare Financial treats its client like family. In most cases, we help coordinate each individual’s financial household by understanding their specific goals personally and professionally.

A big part of financial success is trust in your financial advisor. Our clients trust us, here are some of our reviews from Google.

“Highly recommend Wealthcare Financial, very happy with their services. I have been working with Shaun and Mike for about 3 years now after being recommended to them by a friend. They have been helping me with my financial planning since graduating from residency. Great guys, trustworthy and knowledgeable. Easily accessible and quickly answer financial questions I have. They coordinate with my CPA to help make the best decisions for me. I always feel they have my best interest in mind. I am very grateful to have these guys on my team and I am in a much better position now than I was 3 years ago.”

Dr. David Traficante

“I have been working with Shaun Tarzy & Michael Boggiano in WealthCare Financial for almost a year. Managing personal finance while working in a busy job can always be stressful. It is a great relief to find someone knowledgeable and trustworthy who can help you. Both Shaun & Michael are very professional with solid work ethics. I value their advice, and strongly recommend them to anyone who is looking to grow their financial base.”

Dr. Mayank Roy

Common Questions We Get About Our Financial Planning Services

What do financial advisors do?

As financial advisors, we find solutions for our clients by guiding them through complex financial situations. Whether you’re in the first few years of your career or retiring we provide financial advice that will help navigate you through your specific situation.

How much money should you have to hire a financial advisor?

Initial consolations are always free at WealthCare Financial! Depending on the complexity of your situation will determine the cost of the financial advisor. On average a financial plan will take approximately 5 – 15 hours at $300/hour. While a retainer is $199/month – $495/month depending on the complexity of the plan. 

How much does a financial advisor cost?

Financial Planning & Fee Schedule

Portfolio ValueFee
$0 – $1,000,0001.50%
$1,000,000 – $2,000,0001.25%
$2,000,000 – $3,000,0001.00%
$3,000,000 + ≤ 0.75% 

Other Financial Planning Fees

On average a financial plan will take approximately 5 – 15 hours at $300/hour

Investment Plan: approximately 1-4 hours at $300/hour.

Solo 401(k): Initial cost $1,500 with an ongoing annual fee of $199/year.

Financial Planning Retainer: $199/month – $495/month depending on the complexity of the plan. 

Is it worth paying for a financial advisor?

Everyone’s situation is different but paying a financial advisor to help with financial planning, retirement planning or wealth management can only help you. However, it is very important that you understand what you’re paying for. Just like you would pay an attorney for their time, paying an advisor will allow for a non-biased approach to your financial needs. Consider a wealth advisor that you can trust before moving forward.

What are some things to look for when picking a financial advisor?

The first thing to look for when choosing a financial advisor is to review all disclosures from their broker-dealer, SIPC, and member FINRA. The next most important thing is to verify this advisor is in for a long-term relationship rather than a short-term relationship with their clients. Lastly, don’t limit your search to advisors just located on Belfort Road, expand your search in order to find the advisor who is right for you.