Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
First Financial Advisors Inc Overview
First Financial Advisors Inc is a financial advisory firm that has been providing investment advice for over 30 years. Based in Muskegon, MI, their fee arrangement is fee-based, meaning they earn their compensation based on a percentage of the assets they manage, rather than earning commissions for selling specific products. As an investment advice-only firm, they focus specifically on providing recommendations and advice for their clients' investments. First Financial Advisors Inc offers a range of services to their clients, including financial planning and portfolio management. They work with individuals, small businesses, and institutional clients to create customized investment strategies that align with their unique goals and risk tolerance. Their portfolio management services cover both investment management and asset allocation, working to create well-diversified portfolios that aim to maximize returns while minimizing risk. With a track record of success since 1988, First Financial Advisors Inc has gained many satisfied clients over the years. Their commitment to providing personalized service and customized investment strategies has allowed them to build strong and lasting relationships with their clients. Whether you're an individual investor or part of a larger institution, First Financial Advisors Inc can provide the guidance and insights you need to help achieve your investment goals.
FIRST FINANCIAL ADVISORS INC serves a diverse range of clients, including individuals, high net worth individuals, and charitable organizations. Each client has unique financial needs and objectives, and the firm has the expertise to provide customized solutions that meet these demands. With a wealth of experience in the financial industry, FIRST FINANCIAL ADVISORS INC is well-equipped to assist clients at all stages of life, whether they are just starting out in their careers, approaching retirement, or managing significant assets. When it comes to fee structures, FIRST FINANCIAL ADVISORS INC offers clients a variety of options depending on the services provided. For those looking for ongoing investment management and financial planning, the firm charges a percentage of assets under management (AUM). This ensures that clients pay only for the services they need and that fees are aligned with portfolio performance. In addition, hourly fees are available for clients who require one-time advice or consultation on specific financial issues. For clients seeking a comprehensive suite of financial services, fixed fees may be the most suitable option. FIRST FINANCIAL ADVISORS INC strives to ensure that all fee structures are transparent, fair, and in line with industry standards to provide clients with peace of mind and financial security.
Typical Clients, Fee Structures & Investment Minimum
Unfortunately, the Part 2 Brochure for FIRST FINANCIAL ADVISORS INC does not mention anything about an investment minimum.
How This Office Can Help Orem, UT Residents
First Financial Advisors provides comprehensive financial planning and investment management services to clients in Orem, UT. The local team understands that each individual or family has unique financial goals and challenges. They take the time to assess their clients' current financial situation, including income, expenses, assets, and liabilities, to develop a customized financial plan tailored to their specific needs. With many residents in Orem being young families with children, First Financial Advisors can help them plan for their future by creating a college savings plan, life insurance, and retirement strategies. Additionally, many residents in Orem work in technology with stock options as part of their compensation. First Financial Advisors can help navigate the complexities of stock options and assist with tax planning strategies. For those nearing retirement age, First Financial Advisors can help them create a retirement plan that will maximize their income while minimizing their taxes. No matter the financial need, First Financial Advisors has the expertise and resources to help their clients achieve their financial goals.
Services Offered by First Financial Advisors Inc
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by First Financial Advisors Inc most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
- Mon 9 AM–5 PM
- Tue 9 AM–5 PM
- Wed 9 AM–5 PM
- Thu 9 AM–5 PM
- Fri 9 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
First Financial Advisors Inc is registered to service clients in the following states:
- Florida
- Michigan
Disciplinary History
First Financial Advisors Inc does not have any disclosures. Please visit it's Form ADV for more details.