What is DeFranco Financial?

DeFranco Financial is a financial advisory firm based in Wheeling, West Virginia, providing personalized financial planning, wealth management, and retirement planning services to individuals, families, and businesses. With no required investment minimums, our advisors work with clients at all stages of their financial journey. Over the past decade, DeFranco Financial has grown from a single advisor to a team of ten professionals, bringing together more than 175 years of combined industry experience. Today, we proudly serve over 1,000 households across more than 30 states.

Where is DeFranco Financial located?

Our office is located at 1320 National Road in Wheeling, West Virginia. While we are proud to call the Ohio Valley home, our advisors work with clients in many states across the country.  

Who does DeFranco Financial work with?

We work with a wide range of clients at different ages, life stages, and levels of wealth. Our clients include people who are just beginning to invest, families building wealth, business owners, individuals approaching retirement, retirees, and experienced investors looking for ongoing financial guidance.

Does DeFranco Financial have a minimum investment requirement?

No. DeFranco Financial does not require a minimum investment amount to work with our advisors. We believe access to financial guidance should not be limited to people who have already accumulated significant wealth. 

Do you only work with clients in Wheeling, West Virginia?

No. DeFranco Financial is based in Wheeling, WV, and has strong roots throughout the Ohio Valley, but our advisors serve clients in many states across the country. 

Is DeFranco Financial independent?

Yes. DeFranco Financial is an Independent Financial Planning and Investment Firm.  

What is the affiliation with DeFranco Financial and LPL Financial?

LPL Financial is the Broker/Dealer for our firm and individual advisors. LPL is the primary custodian of our client's investment assets. Affiliating with LPL allows us to offer clients the best of both worlds: personalized guidance backed by the strength, stability, and cutting-edge technology of a nationally respected firm. LPL provides us with a wide range of investment solutions, research, compliance support, and tools. 

Is DeFranco Financial a fiduciary?

DeFranco Financial is dual-registered, offering both brokerage and advisory services, working in a fiduciary capacity for our advisory clients. As investment adviser representatives, our advisors act as fiduciaries, for our advisory clients, when providing advisory services and are committed to helping clients make informed financial decisions. 

We believe financial advice should be built on trust, transparency, and a commitment to putting clients first. Our advisory services are provided under a fiduciary standard of care.

How is DeFranco Financial involved in the local community?

Our vision extends beyond financial planning. We strive to build a business that not only serves clients but also strengthens the community and supports the professionals within it. DeFranco Financial is proud to be an active part of the Ohio Valley community. Our team supports local schools, youth programs, charitable organizations, community events, and other initiatives throughout the region through sponsorships, donations, and hands-on volunteer involvement. Giving back to the communities where our clients and team members live and work is an important part of who we are. Follow DeFranco Financial on Facebook and Instagram to see what our team is currently up to in the community. 

Does DeFranco Financial offer a mobile app for clients?

Yes. The DeFranco Financial App gives clients a convenient and secure way to stay connected to their financial life and their advisor from virtually anywhere. Through the app, clients can access their accounts and financial plans, securely upload and share documents, schedule meetings, and quickly connect with their advisor by text, email, or phone—all in one place. The app is part of our commitment to making it simple and convenient for clients to access their financial information and stay connected with our team.

What does a Financial Advisor do?

A financial advisor helps you make informed decisions about your financial life. Depending on your needs, this can include developing a financial plan, managing investments, preparing for retirement, evaluating risk, planning for major life goals, Social Security planning,  insurance and tax strategies, charitable giving planning, estate planning, legacy planning, and helping you adjust your plan as your circumstances change.

How do I know if I need a financial advisor?

You don’t need to reach a certain age or level of wealth before speaking with a financial advisor. People often seek financial guidance when they begin investing, change jobs, start a family, inherit money, sell a business, approach retirement, experience a major life change such as a job change or divorce, or simply want greater confidence that they are making informed financial decisions.

Do I need to have a lot of money before meeting with a financial advisor?

No. Professional financial guidance can be beneficial at all stages. Starting a financial relationship earlier can provide an opportunity to establish goals, develop good financial habits, and create a strategy that can evolve as your financial life changes. DeFranco Financial works with a wide range of clients, from individuals beginning their financial journey to established investors, families, and retirees. 

What happens during my first meeting with a financial advisor?

Your first meeting is an opportunity for us to get to know you. We’ll discuss your goals, concerns, current financial situation, and what prompted you to seek financial guidance. It’s also an opportunity for you to learn about our approach, ask questions, and determine whether DeFranco Financial is the right fit for you.

What should I bring to my first meeting?

What you need will depend on your situation. Helpful information may include recent investment or retirement account statements, information about employer-sponsored retirement plans, insurance policies, income sources, debts, and a general idea of your financial goals. Our team can let you know what documents would be helpful before your appointment.

What is the cost of the first meeting?

There is no cost or fee for your first meeting with DeFranco Financial. 

How often will I meet with my financial advisor?

The frequency of meetings depends on your needs and circumstances. Financial planning is an ongoing process, and your advisor can work with you to determine an appropriate schedule for reviewing your accounts, goals, and financial strategy.

Can I work with an advisor if I'm just getting started?

Yes. You do not have to wait until you have accumulated substantial assets to begin making thoughtful financial decisions. Our advisors work with clients at many different stages of their financial lives, including those who are just getting started.

What is financial planning?

Financial planning looks at the different pieces of your financial life and how they work together. A financial plan may consider your income, savings, investments, retirement goals, insurance needs, taxes, estate considerations, education funding, major purchases, and other short- and long-term objectives.

Will my financial plan change over time?

It can—and often should. Your finances, family, career, goals, tax situation, and the financial markets can change over time. Regularly reviewing your financial strategy allows you and your advisor to determine whether adjustments may be appropriate.

What is investment management?

Investment management involves developing and overseeing an investment strategy based on factors such as your goals, time horizon, financial circumstances, and risk tolerance. Your advisor can help determine an appropriate investment approach and review it as markets and your circumstances change

Can DeFranco Financial manage my investments?

Yes. Investment management is one of the services offered through DeFranco Financial. Our advisors work with clients to develop investment strategies based on their individual goals, needs, time horizons, and risk considerations.

How is investment strategy determined?

An investment strategy should reflect more than your age or a single financial goal. Our advisors consider factors such as your objectives, time horizon, financial circumstances, income needs, existing investments, and risk tolerance when developing investment recommendations.

How do I create income from my investments after I retire?

Retirement income planning involves determining how your savings, investments, Social Security, pensions, and other resources can work together to support your needs. Your advisor can help you develop a strategy for taking income while considering factors such as investment risk, taxes, inflation, and the potential length of your retirement. 

When should I start planning for retirement?

The earlier you begin, the more time you have to save, invest, and make adjustments along the way. However, it is never too late to take a closer look at your retirement strategy. Retirement planning can be valuable whether retirement is decades away or quickly approaching.

How much money will I need to retire?

There is no single number that applies to everyone. The amount you may need depends on factors such as your desired lifestyle, retirement age, expected expenses, income sources, savings, investments, longevity, and other personal circumstances. A financial advisor can help you evaluate these factors and develop a retirement strategy around your goals.

Can a financial advisor help me decide when I can retire?

A financial advisor can help you evaluate whether your financial resources align with your desired retirement timeline. This can involve reviewing your savings and investments, projected expenses, retirement income sources, Social Security, pensions, taxes, and other considerations.

Can DeFranco Financial help me understand Social Security and how it fits into retirement?

Yes. Social Security can be an important component of retirement income planning. Your advisor can help you consider how different social security claiming strategies may fit with your other retirement income sources and overall financial strategy.

When should I start taking Social Security?

The appropriate age to claim Social Security depends on your individual circumstances. Factors can include your age, health, employment status, other income, retirement assets, marital status, and overall retirement strategy.

DeFranco Financial can help you compare different filing strategies as part of your broader retirement plan. *DeFranco Financial and LPL Financial are not endorsed by or affiliated with the United States Social Security Administration or any government agency.

What can I do with a 401(k) after leaving a job?

Depending on your circumstances, you may have several options, including leaving assets in a former employer’s plan, moving them to a new employer’s plan when permitted, rolling them into an IRA, or taking a distribution. Each option can have different investments, fees, taxes, and other considerations, so it is important to evaluate your choices carefully before making a decision.

Can DeFranco Financial help with my 401(k) or other workplace retirement plan??

 Yes. Our advisors can help you understand how your workplace retirement plan fits into your broader financial strategy. This may include reviewing contribution decisions, investment options, retirement goals, and choices you may face when changing employers or retiring.

What is wealth management?

Wealth management is a comprehensive approach to managing your financial life. It brings together areas such as investment management, financial planning, retirement planning, tax considerations, estate planning strategies, and risk management to create a coordinated financial strategy. A financial advisor can help you evaluate these different areas and develop a plan based on your goals, priorities, and changing needs over time.

What is Estate Planning?

Estate planning is the process of preparing for how your assets and financial affairs will be managed and transferred during your lifetime and after your death. An estate plan may address beneficiary designations, wills, trusts, powers of attorney, insurance, charitable giving, and legacy goals. Estate planning can be important at many stages of life—not only for individuals with significant wealth.

Can DeFranco Financial help with Estate Planning?

Yes. Estate planning is an important part of a comprehensive financial plan. Our advisors can help you consider how your assets, investments, beneficiary designations, insurance, and legacy goals fit together as part of your overall estate plan. We can also work alongside your attorney and tax professionals to help coordinate your financial strategy with your estate planning documents and wishes. Because estate planning needs vary by individual and family, we can help identify areas to consider and determine when additional guidance from an estate planning attorney or other professional may be appropriate. 

What is Charitable Giving Planning?

Charitable giving planning is the process of creating a thoughtful strategy for supporting the causes and organizations that are important to you while considering your broader financial goals. Depending on your circumstances, this may involve strategies such as donating cash or appreciated assets, making qualified charitable distributions from an IRA, establishing donor-advised funds, or incorporating charitable giving into your estate and legacy plans. DeFranco Financial can help you evaluate different giving strategies and coordinate with your tax and legal professionals when appropriate.

What is Tax Planning?

Tax planning is the process of evaluating how financial decisions may affect your taxes and identifying strategies that can help you manage your overall tax situation. It can include considerations related to investments, retirement accounts and distributions, charitable giving, capital gains, income, and estate planning. DeFranco Financial can help incorporate tax considerations into your broader financial strategy and work alongside your tax professional to help ensure your financial and tax planning are coordinated. 

How do I choose the right financial advisor?

Consider an advisor’s experience, services, approach, credentials, communication style, and whether you feel comfortable discussing important financial decisions with them. It is also important to understand how the advisor and firm work with clients and what you can expect from the relationship.

Can I meet with DeFranco Financial before deciding whether to become a client?

Yes. An initial conversation gives you an opportunity to learn more about our team and approach while allowing us to learn about your goals and what you’re looking for in a financial advisor. There is no cost for an initial meeting with our team. 

How do I get started with DeFranco Financial?

Getting started begins with a conversation. You can call our office at 304-242-6364. Our team can answer your initial questions, learn more about what you are looking for, and help connect you with an advisor. Advisor appointments and calls can also be scheduled online.  Visit our Contact-Us page or download our app to see all the ways you can reach and connect with us.  

*The information provided here is for general informational purposes and should not be considered individualized investment, tax, or legal advice. Individual circumstances vary, and you should consult the appropriate financial, tax, or legal professionals regarding your specific situation.