Q&A
Clear answers to common questions.
Why should I consider hiring AWP?
AWP provides personalized financial planning and wealth management for Florida first responders. We know DROP, FRS Pension Plan and Investment Plan, and 457(b) programs inside-and-out, and have a deep understanding of the unique considerations for financial planning and portfolio management needs of these families. Our 25+ year relationship with the Palm Beach County PBA is indicative of our expertise, honesty, integrity and longstanding commitment to support Florida First Responders.
How does AWP make money?
AWP charges 0.0375% per quarter or 1.50% annually of assets under management. This fee is based on the value of your investments on the last day of the prior quarter and is billed in advance. AWP does not bill when providing guidance on FRS Investment accounts.
Do you offer an hourly or one-time project fee option?
AWP does not offer hourly or one-time financial planning fee options. AWP puts the effort in up front to demonstrate its expertise and relies on the “Golden Rule”.. the principle of treating others as one would want to be treated by them.
How involved will AWP be in the management of my investments?
AWP acts on a fully discretionary basis for all accounts it manages. This means that AWP can make changes to your portfolio on an as-needed basis which ensures that we can act in a timely manner and that each of our clients receives the same, consistent high-level of service and attention to their portfolio.
AWP requires a meeting with all clients at least bi-annually, however, for us to rebalance any accounts that are not held at Schwab, we will need to do a screen share session at least once per quarter.
How are my accounts protected?
All accounts with AWP are held at a qualified custodian (such as Schwab), and AWP only has the authority to trade and bill our advisory fees to your account.
How are you different from other financial advisors?
AWP is a fiduciary, meaning we are legally and ethically required to act in our clients’ best interest. While there are many advisors these days who are fiduciaries, we are further set apart by our high touch services, experience, and expertise specific to the addressing the unique investment and financial planning needs of Florida’s First Responders.
Do you only work with first responders?
The vast majority of AWP clients are first responders and support personnel, however, we will assist your other non-first responder friends and family provided they come through a warm referral from an existing client.
Can you work with people in other states?
Absolutely! AWP not only works with clients throughout the State of Florida, but as far West as the State of Washington and as far North as New Hampshire. Many of our clients start with us while they are working or preparing for retirement, and with our digitally focused platform we are set up to continue to help service them anywhere in the US.
How does AWP select the investments it recommends?
AWP’s investment selection starts with a simple approach… Asking ourselves the following:
- “Would I personally own this investment?”
- “Why would I want to own this investment?”
- “Why should I own this investment?”
- “What risks are associated with the ownership of this investment?”
- “Are those risks reasonable given what the client objectives are?”
We utilize a highly analytical approach towards identifying, reviewing, analyzing and selecting investments which includes factors such as:
- Investment performance compared to peers in the same asset class
- Historical manager performance
- Historical volatility
- Underlying fees and expenses
- Investment fundamentals
- Historical yield and dividend payment
- Underlying financials and fundamentals
- Technical trends
- Wall street analyst reviews
- Macro and micro economic conditions
All investments are monitored using a top-down and bottom-up approach focused on not only the individual historical and anticipated future performance, but how that ties to each individual client’s financial objectives and risk tolerance. These factors are monitored on an ongoing basis and changes are made as necessary on our client’s behalf.
How often will I meet with you?
It really depends where you are in your retirement journey. Our recommendations are typically as follows:
In Retirement
- with a Pension = 1-2 x annually
- Investments Only = 2-3x annually depending on comfort level with your retirement income plan and the market
Before Retirement
- Transitioning into Retirement = a series of 3-4 Meetings pre and post-retirement to guide you through the transition process.
- <3 years to Retirement = 2x annually
- 3-6 years to Retirement = 1x annually
- 6+ years to retirement = at least bi-annually
Bottom line is, we’re here for you as much or as little as you need us, depending on your comfort level.
Will I have just one advisor at the firm?
AWP takes a team approach, and you will build relationships with all of our team members.
We choose to work as a team for several reasons, namely:
- To allow our clients to leverage the specialized expertise of each individual team member
- To ensure that your relationship always remains intact and that there is appropriate knowledge of your unique financial circumstances across all members of our team – minimizing any potential for disruption should the team evolve or change over time
- To bring our clients the added benefit of having access to differing viewpoints from our collective expertise rather than relying on the vision of one
Meet our team.
We take a team-based approach to offer personalized financial guidance that allows you to leverage our full expertise.
Discover our legacy.
See where we started, how we've grown, and the long-standing community ties that hold us to a higher standard.
Get to know us.
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