Today we’d like to introduce you to Zachary Fineberg.
Zachary, we appreciate you taking the time to share your story with us today. Where does your story begin?
My interest in entrepreneurship started with a lemonade stand as an 8 year old. There was this neighborhood garage sale in the city where I grew up and each year I would sit outside for hours under our huge oak tree selling lemonade and cookies to passersby. I loved talking with people and found it thrilling to run a small business.
As a teenager, I became interested in following the stock market. I would conduct crude research and make suggestions to my father based on my findings. He would occasionally humor me by buying a stock I was interested in for his accounts. Eventually, he allowed me to accompany him to meetings with his financial advisor at Morgan Stanley. I was mesmerized by the grandeur of it all.
During high school, I became deeply involved in music. I played cello in the school orchestra. Mainly though, I played in rock-and-roll bands and recorded a few records, which I sold to my classmates. My band performed at venues all over town.
After high school, I joined a popular local band. We were eventually signed to a record label based in New York and toured the country for a couple of years, supporting the records we released during that time. I had some incredible experiences and saw almost every state in the Union.
Eventually, I reached the conclusion that the touring lifestyle simply wasn’t for me long-term, so I decided to enroll in university. I completed my degree in Finance and Capital Budgeting at top speed. During my final year, I obtained an internship at a wealth management practice where I was exposed to a myriad of real-world experiences. Upon graduation, I was hired by the firm.
Over the next year, I spent my days working at the firm and my nights studying for the licensing exams required to become a bona fide investment advisor. I passed the Series 7 and Series 66 exams and decided to set out on my own.
I wanted to start a business that operated as a fiduciary – one that always acted in my clients’ best interests. Unfortunately, this is not the norm in the industry, particularly when commissions on financial products are involved. I structured my business as an independent, fee-only registered investment advisor. This model means that I am compensated on a flat percentage of the assets I manage. There are no sales tactics, incentives, or commissions to influence the advice I provide. In essence, I sit on the same side of the table as my clients: as I grow their portfolios, my compensation grows.
I began building a book of business by reaching out to friends and family. I am immensely grateful for the faith and trust my first clients placed in me. Looking back, it is quite remarkable.
After being in business for a few years, I decided to further distinguish myself by obtaining the Certified Financial Planner (CFP®) designation, which further demonstrates my financial expertise and a commitment to ethical business practices.
From there, I have been growing organically over the last 14 years. I maintain personal relationships with all of my clients and take pride in helping to remove the cloud of financial uncertainty from their lives so that they can focus on what brings them happiness – Whether that means retiring comfortably or leaving a legacy for their family.
This career path is not for the faint of heart. Operating independently and starting from zero requires serious resolve. A colleague once told me, “This business is about growing a garden, not going hunting”. I feel incredibly proud of what I have grown at Fineberg Wealth Management, and I can’t wait to see what lies ahead.
I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
Starting a business with zero accounts is challenging. For the first couple of years I supplemented my limited income from the advisory business with contract work as a notary for title companies in the area. I would meet with families who were taking out a mortgage or refinancing their homes. I would explain all the documents involved and get everything signed so that the loans were in good order to close.
Another challenge at first was making sure that I was maintaining proper regulatory compliance within my business. Working at a large firm, this was all taken care of by a dedicated compliance officer, but as an independent, everything fell solely upon me.
Appreciate you sharing that. What should we know about Fineberg Wealth Management?
Fineberg Wealth Management, LLC, is a fee-only registered investment advisory practice offering comprehensive wealth management solutions to individuals, families, small businesses, and trusts. I provide consulting services to discerning clients who seek financial advice independent of institutional sales pressures. My independence frees me to think critically, use creative approaches, and access a breadth of resources on behalf of my clients.
Structured as a fee-only firm, I am bound by a fiduciary duty to my clients. I receive no commissions or compensation of any kind from brokerage firms, fund companies, or insurance companies. I do not sell financial products. Instead, I charge a clearly defined fee for my services. My policy of transparency and commitment to integrity eliminates the commission-based conflict of interest that exists inherently in the realm of sales-driven financial professionals. My business structure gives me incentive to deliver low cost, individualized solutions that put my clients’ interests above all else.
At Fineberg Wealth Management, I am committed to providing an uncommonly high level of service. By taking the time to fully understand my clients’ goals, desires, and concerns, I can identify those financial paths that meet their needs. I understand the challenges presented by today’s complex financial world and I am well equipped to confront them.
Can you talk to us a bit about happiness and what makes you happy?
Personally:
Music. I am a multi-instrumentalist. In my free time I enjoy writing and recording original compositions.
Food. I love to cook and experiment with unfamiliar ingredients.
Gardening. I love tending to my vegetable garden in the summer. I don’t care what anyone says – You cannot get tomatoes at the market that come even close to what you can grow in your garden.
Professionally:
Helping. There is no better feeling than really improving someone’s financial situation. It gives my life meaning to know that I can use my expertise to reduce stress and improve lives.
Writing/Educating. I consistently publish articles on my website that provide education on various financial and lifestyle topics. Usually the subject of these articles are born from client questions and conversations.
Pricing:
- 1% of assets managed annually
Contact Info:
- Website: https://www.finebergwealth.com
