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Founded in 2013 by Paul LaViola and Stephen McDade, Foundation Wealth Management is an independent wealth management firm located in the heart of downtown Media, Pa.
FWM works with individuals and families to organize, grow and preserve their wealth. As a fee-only “Registered Investment Advisers,” FWM is legally held to a fiduciary standard for its clients, in contrast to the majority of financial advisors who are “Registered Representatives” of broker dealers.
Fee-only financial planners don’t sell products and are not commissioned salespeople for insurance or brokerage companies. Rather, clients hire and pay the advisors directly. This model removes potential conflicts of interest and clients receive a comprehensive financial plan that incorporates the following elements:
- An analysis of the client’s life and financial goals
- Cash flow management
- Investments, including 401(k) plan assets
- Risk management and recommendations for specific insurance coverage
- Tax planning and management
- Retirement planning
- Debt management
- Educational funding
- Estate planning
FWM’s mission is to remove the undue worry, frustration, and stress from clients’ financial lives in an ethical and caring way, equipping them with objective advice and guidance to reduce risk, gain peace of mind, and achieve life goals.
LaViola and McDade are members of NAPFA (The National Association of Personal Financial Advisors), the country’s leading professional association of fee-only financial advisors. Both have worked at some of the country’s top financial planning firms and have helped numerous families and individuals throughout the tri-state area organize their financial lives and get on track financially. For additional information call (610) 548-7170.Download PDF
Paul LaViola CFP®, ChFC, MST, MSFS, RPA
An expert at helping families and individuals organize and manage their financial lives, Paul has been quoted in Money Magazine, Kiplinger’s Magazine, Bloomberg News, Journal of Financial Planning, BusinessWeek Online, MSN Money, Financial Advisor Magazine, www.Bankrate.com, Investment News and www.MorningstarAdvisor.com. He was selected to be among the top scoring Wealth Managers in the Philadelphia area each year from 2009 through 2015 featured in Philadelphia Magazine.Download Full Biography
Stephen McDade CFP®
Steve entered the financial services field in 2000 when he worked for the Hartford Mutual Funds. He worked as a financial planner at a large Philadelphia registered investment advisory firm and was an integral member of their retirement plan team prior to co-founding Foundation Wealth Management, LLC.Download Full Biography
- Foundation Wealth Management (FWM) is a fee-only independent wealth management firm that works with individuals and families to help organize, grow and preserve their wealth.
- Founded in 2013, FWM is located in the heart of downtown Media, Pa. and serves clients in the greater Philadelphia area.
- Forty-eight percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement. (Employee Benefit Research Institute.)
- American workers are $6.8 trillion short of what they need to retire comfortably. (Boston College’s Center for Retirement Research.)
- One of every six elderly Americans is already living below the federal poverty line. (U.S. Census Bureau.)
- One in five people who are near retirement age have zero money saved. (Federal Reserve.)
- Since 2007, household income has fallen by 6 percent for adults ages 55 to 64. In 2010, about one-third of workers age 65 and older were in low-wage jobs that paid less than $11 per hour.
The Recession’s Impact on Baby Boomer Retirement
- Concerns about retirement financing are now more heavily concentrated among younger and middle-aged adults than among those closer to retirement age—a major shift in the pattern that had prevailed at the end of the recession. (Pew Research Center.)
- Among adults between the ages of 36 and 40, 53 percent say they are either “not too” or “not at all” confident that their income and assets will last through retirement. (Pew Research Center.)
- 56 percent of U.S. adults lack a budget; 40 percent of U.S. adults are saving less than in 2011; 39 percent of U.S. adults have zero non-retirement savings; 39 percent of U.S. adults carry credit card debt from month to month; 31.4 percent of all mortgage borrowers are under water; 41 percent of baby boomers do not have a will; 50 percent of Americans with children do not have a will; 25 million people are underinsured; 16 percent of Americans are very confident that their investments will increase in value; 23 percent of Americans are not at all confident in having a comfortable retirement; Two in 5 adults gave themselves a C, D or F grade on their knowledge of personal finance. (National Association of Personal Financial Advisors.)
- What does “fee only” mean?
- At what age can I afford to retire?
- What financial changes can I expect after I get married?
- How can my fiancé and I prepare for our wedding?
- How much can I contribute toward my kid’s education and still stay on track to reach my retirement goals?
- What is my net worth?
- How will having another child impact our family’s financial goals?
- How much can I afford to pay for a house?
- How much should I be saving each month to reach my short and long term financial goals?
- What is the best vehicle I can use to save for my future?
- What types of insurance do I need to safeguard my family?
- How much do I spend and what do I spend it on?
- What are some practical strategies to improve my cash flow?
- Is my portfolio diversified? What exactly does “diversification” mean?
- How do I evaluate my comfort level with the risks inherent in investment purchases?
- Are my investments allocated appropriately for my age and risk tolerance?
- Will you make specific “buy or sell” recommendations for my portfolio?
- What documents do I need in place to protect my family and me if I were to die or become incapacitated?
- What tax savings strategies are available to me?
- Am I taking advantage of all the benefit plays my employer offers?
- How will inflation impact my retirement goals?