FWM is owned by Kathleen M. Longo and has been providing comprehensive wealth management
services since April 2014. FWM is a registered investment adviser with the Securities Exchange
Commission. As of December 31, 2023, FWM managed $327,756,365 with $302,334,443 on a
discretionary basis and $25,421,923 on a non-discretionary basis.
FWM provides wealth management services including investment advisory services to individuals,
high net worth individuals, trusts, and foundations. As a registered investment adviser, FWM is held
to the highest standard of client care – a fiduciary standard. As a fiduciary, FWM always puts our
clients’ interests first and must fully disclose any potential conflict of interest.
Wealth Management and Investment Management Services:
FWM manages investment portfolios for individuals (including high net worth individuals), trusts,
qualified retirement plans, charitable organizations and businesses. FWM works with clients to
determine the client's specific investment objectives which may be set forth in a written Investment
Policy Statement that describes an asset allocation model that conforms to a client’s risk tolerance
level. The determination of an appropriate portfolio for each client is a function of current and
future cash flow needs, risk tolerance, time horizon, goals, and modeled returns. Investment and
portfolio allocation software may be used to evaluate alternative portfolio designs. FWM evaluates
the client's existing investments with respect to the client's investment policy statement. FWM
works with new clients to develop a plan to transition from the client's existing portfolio to the
desired portfolio.
FWM will typically create a portfolio of no-load mutual funds or ETFs and may use model portfolios
if the models match the client's investment policy. FWM will allocate the client’s assets among
various investments taking into account the overall risk profile selected by the client. FWM prefers
passive investments through mutual funds and ETFs that offer low expense ratios, high
transparency, and support a broadly diversified portfolio. Client portfolios may also include some
individual equity securities and highly appreciated mutual funds in situations where disposition of
these securities would present an overriding tax implication or the client specifically requests they
be retained for a personal reason.
FWM manages mutual fund and equity portfolios on a discretionary basis according to the
investment policy selected by the client. A client may impose any reasonable restrictions on FWM’s
discretionary authority, including restrictions on the types of securities in which FWM may invest
client’s assets and on specific securities, which the client may believe to be appropriate. These
situations will be specifically identified in the client’s Investment Policy Statement (IPS). FWM may
also recommend to advisory clients fixed income portfolios, which consist of managed accounts of
laddered individual bond portfolios. FWM will request discretionary authority from advisory clients
to manage fixed income portfolios, including the discretion to retain a third-party fixed income
manager.
FWM will also incorporate Socially Responsible Investments (SRI) and Environmental, Social and
Governance (ESG) strategies in client portfolio when requested by clients. We proactively provide
education about these investment strategies which are available through no-load mutual funds and
ETFs. These strategies focus on higher quality companies that are striving to meet SRI/ESG criteria.
We work with clients to identify which themes are most important to them and then use investment
strategies that reflect that preference. Although we believe that client portfolios with SRI/ESG will
allow clients to fully align their investments with their personal values, there is no guarantee that
these investment strategies will outperform traditional investments.
FWM will periodically review each client's investment policy, risk profile, and discuss the
re-balancing of each client's accounts to the extent appropriate.
In addition to managing the client’s investment portfolio and as part of the wealth management
service offering, FWM consults with clients on various financial areas including income and estate
tax planning, tax management, business sale structures, college financial planning, retirement
planning, insurance analysis, personal cash flow analysis, philanthropy, social security planning,
establishment and design of retirement plans and trust designs, among other things.
FWM
may occasionally provide project-based financial consulting services on a fixed-fee or an
hourly fee basis that address some or all of the wealth management service offering described
above.
FWM gathers required information through in-depth personal interviews. Information gathered
includes a client’s current financial status, future goals and attitudes towards risk. Related
documents supplied by the client are carefully reviewed and various types of written reports may
be prepared by FWM. Implementation of financial plan recommendations is entirely at the client’s
discretion although Flourish works with clients to implement the planning recommendations.
Referrals to other professionals may be undertaken where appropriate to meet the client’s needs.
Financial Planning Services:
FWM also provides advice in the form of Financial Planning. Clients purchasing this service may
receive various written financial reports, providing the client with detailed financial information
designed to achieve their stated financial goals and objectives.
In general, the financial plan will address any or all of the following areas of concern:
● Personal: Family records, budgeting, personal liability, estate information and financial
goals.
● Education: General assistance in preparing to meet dependent’s continuing education needs
through development of an education plan.
● Risk: Review of existing insurance policies to ensure proper coverage for life, health,
disability, long-term care, liability, home, and automobile.
● Tax & Cash Flow: Income tax and spending analysis and planning for past, current and
future years.
● Death & Disability: Cash needs at death, income needs of surviving dependents, estate
planning and disability income analysis.
● Retirement: Analysis of current strategies and investment plans to help the client achieve
his or her retirement goals.
● Investments: Analysis of current and alternative investment holdings and costs, examining
the potential long-term effects on a client’s portfolio, recommending appropriate
investment options, allocations, or adjustments.
FWM gathers required information through in-depth personal interviews. Information gathered
includes a client’s current financial status, future goals and attitudes towards risk. Related
documents supplied by the client are carefully reviewed and financial planning reports are typically
prepared. Should a client choose to implement the recommendations in the financial plan, FWM
suggest the client work closely with his/her attorney, accountant or insurance agent. In addition,
FWM also assists in the implementation of the financial plan with client’s approval. Clients are
encouraged to review their plan on a regular basis, especially if there are any changes in their
financial situation, goals, need, or investment objectives.
Employee Benefit Retirement Plan Services:
FWM also provides advisory services to participant-directed retirement plans through third party
administration services, which are online bundled service providers offering an opportunity for
plan sponsors to provide their participants with daily account access, valuation, and investment
education.
FWM will analyze the plan's current investment platform and assist the plan in creating an
investment policy statement defining the types of investments to be offered and the restrictions that
may be imposed. FWM will recommend investment options to achieve the plan's objectives, provide
participant education meetings, and monitor the performance of the plan's investment vehicles.
FWM will recommend changes in the plan's investment vehicles as may be appropriate from time to
time. FWM generally will review the plan's investment vehicles and investment policy as necessary.
For certain retirement plans, FWM also works in coordination and support with Buckingham
Retirement Services. Retirement plan clients will engage both FWM and Buckingham Retirement
Services. Buckingham Retirement Services will provide to the client additional discretionary
investment management services and will exercise discretionary authority to select the plan
investments made available to the plans’ participants by selecting and maintaining the plans’
investments according to the goals and investment objectives of the plan.
FWM will continue to work with plans to monitor plan investments, provide fiduciary plan advice
including regular considerations of the goals and objectives of the plan, and provide participant
education services to the plan.