Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Pension Consulting Services
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Fixed Fees (Other than subscription)
Fragasso Financial Advisors Overview
Fragasso Financial Advisors is a registered investment advisory firm based in Pittsburgh, PA. They have been in business since 2012 and provide investment advice only. The firm specializes in providing financial planning, portfolio management services for individuals and small businesses, and pension consulting services. With a fee-only arrangement, clients can trust that Fragasso's recommendations are completely objective and never influenced by commissions or other incentives. Fragasso Financial Advisors places a strong emphasis on financial planning and takes a personalized approach to every client relationship. They work to understand each client's unique financial situation and goals before creating a tailored plan that addresses their needs. Their portfolio management services strive to help clients meet their long-term investment objectives while managing risk. In addition to their work with individual investors, Fragasso also offers pension consulting services, helping businesses manage their employee benefit plans. This includes assistance with the design, implementation, and management of defined benefit and defined contribution plans. With a team of experienced professionals, Fragasso Financial Advisors provides clients with the expertise and guidance necessary to achieve their financial objectives.
FRAGASSO FINANCIAL ADVISORS is a highly reputable firm that caters to an array of clients spanning various industries and sectors. Their client base includes individuals, high net worth individuals, pension or profit sharing plans, and charitable organizations. Apart from these, they also serve other corporate entities, tailoring their services to meet specific needs and financial requirements. With a vast experience in the industry and a team of seasoned professionals, FRAGASSO FINANCIAL ADVISORS is well-equipped to offer top-tier financial advisory services to every client they serve. The firm offers a diverse range of fee structures depending on the type of service and specific needs of the client. Clients can choose between the percentage of asset under management (AUM) and fixed fees. The percentage of AUM option is ideal for high net worth individuals or businesses with substantial assets. In contrast, the fixed fee structure is perfect for clients who require specific services or products without the need for ongoing asset management. The team at FRAGASSO FINANCIAL ADVISORS works tirelessly to ensure that the financial plans they recommend are comprehensive, transparent, and cost-effective, tailor-made to suit the unique requirements of each client.
Typical Clients, Fee Structures & Investment Minimum
According to their Part 2 Brochure, Fragasso Financial Advisors' investment minimum for individual clients seeking investment advice is $250,000 of investable assets for the household. Retirement plans must have a minimum of $500,000 in plan assets. It is important to note that exceptions to these investment minimums may be granted at the sole discretion of FFA's certain advisory representatives.
How This Office Can Help Pittsburgh, PA Residents
Fragasso Financial Advisors provides a wide range of services designed to assist clients in Pittsburgh, PA, with their financial needs. Their team of experienced financial advisors offers comprehensive financial planning, investment management, retirement planning, and estate planning services to individuals, families, and businesses. They start by understanding each client's unique financial situation and goals and then develop tailored strategies designed to help them achieve those goals. Living in Pittsburgh, PA, individuals might face specific financial challenges, such as high housing and healthcare costs and volatile market conditions. Fragasso Financial Advisors helps clients navigate these challenges by providing customized financial solutions that are designed to meet their specific needs. They also understand the importance of integrating tax planning into every aspect of financial planning, as Pittsburgh, PA residents face state and local taxes that can erode investment returns. In summary, Fragasso Financial Advisors' commitment to providing personalized financial solutions has earned them a reputation as one of Pittsburgh's most trusted financial advisory firms.
Services Offered by Fragasso Financial Advisors
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 Fragasso Financial Advisors 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.
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
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.
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
Other Office Locations
This firm has no other locations.
State Registrations
Fragasso Financial Advisors is registered to service clients in the following states:
- Arizona
- California
- Connecticut
- District of Columbia
- Florida
- Georgia
- Maryland
- Massachusetts
- Michigan
- New Jersey
- New York
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Texas
- Virginia
- West Virginia
Disciplinary History
Fragasso Financial Advisors does not have any disclosures. Please visit it's Form ADV for more details.