Welcome, and thank you for visiting.
I’m Chris, the founder of First Shelbourne. Below, you’ll find answers to some of the most common questions I receive about advisory services.
Whether you’ve just retired and want to roll over a 401(k) into an IRA, received an inheritance, or have savings you’d like to see grow, First Shelbourne is here to manage those assets with care and expertise.
As a fiduciary advisor, I am legally and ethically committed to acting in your best interest. I don’t sell financial products, and I don’t earn commissions on any investments I place your funds into. You can feel confident knowing my advice is always aligned with your goals, not mine.
Most importantly, I am fully independent. Unlike advisors tied to large corporate parents whose primary goal is to maximize profits for the company, my sole focus is on you. I founded this firm to offer a better alternative, one built on transparency, trust, and your best interests. Here, you’ll never be pushed into high-commission or high-fee products.
Chris Wargas is the founder of First Shelbourne. He decided to create a firm built on transparency and integrity. Chris is a Series 65 license holder and a Certified Fraud Examiner (CFE®), credentials that underscore his dedication to professionalism and ethical standards in financial advisory services.
What services does First Shelbourne offer?
First Shelbourne provides professional portfolio management services. Founded in 2022 by Christopher Wargas, the firm manages investment portfolios for individuals seeking long-term growth and stability. Many of our clients are recent retirees looking to roll over their 401(k), business owners who have exited a company, or individuals managing the complexities of a new inheritance.
What are the benefits to rolling over my 401k after I retire to a managed IRA with First Shelbourne?
Many retirees accumulate substantial assets in their 401(k), often hundreds of thousands of dollars by the time they leave the workforce. A common challenge is the limited investment options available within these plans. Over the past few decades, passive index fund investing has driven stock valuations to historically high levels. For those seeking less risk in retirement, the so-called “stable funds” inside 401(k)s often yield less than risk-free U.S. Treasuries.
By rolling over a 401(k), investors gain greater control and flexibility. This allows for income strategies that 401(k) plans typically cannot provide, without resorting to high-cost annuities or life insurance products. A skilled, low-fee advisor can design a portfolio that generates reliable monthly income with lower risk than the limited options available in most 401(k) plans.
What fee does First Shelbourne charge?
Our annual advisory fee is 0.50% of assets under management. This is significantly below the industry standard of approximately 1%, reflecting our commitment to providing clients with high-quality investment management at a competitive cost.
What strategy does your company use when investing funds?
Every client has a unique risk profile, but all portfolios under my management follow a disciplined value investing approach. In practice, this means avoiding the temptation to chase market fads or overpay for “hot” stocks. Instead, I conduct in-depth research on individual companies to guide client funds toward opportunities that offer strong fundamentals and limited downside risk.
While no strategy can fully eliminate market volatility, and I would never suggest otherwise, steering clear of asset bubbles is essential to protecting capital. For example, in 2022 and 2023, I cautioned against the bubble in long-term bonds and deliberately kept client portfolios away from that segment. Since then, long-term bonds have suffered steep declines, but my clients were able to avoid those losses by not being exposed to what many assumed were “safe” investments
Do you have a minimum investment requirement?
The minimum investment required is $250,000.
Where will my account be held?
Investment advisors use qualified custodians to hold client assets. First Shelbourne's custodian, Charles Schwab, holds client assets in a brokerage account titled in the client’s name. At no time does First Shelbourne have access to an individual’s account. I make investments for individuals and manage their accounts from the firm's master account.
The custodian of record provides execution, clearance, and settlement of securities transactions. Clients will receive monthly account statements from Charles Schwab detailing all account activity.
I don't live in New York. Can I still use your company to manage my funds?
Yes. Many people believe they need to choose an advisor who lives nearby, but that's not necessary. Remote work has enabled individuals to use advisors who they previously didn't have access to. Costs have also been greatly reduced. So, focus on finding an advisor who aligns with your goals, rather than just their location. First Shelbourne is a fiduciary Financial advisor and investment advisor serving mainly Suffolk County and Nassau County on Long Island. But we are able to serve individuals in upstate New York, New York City, as well as any state in the U.S.
What is the process upon hiring your firm as my investment advisor?
I will first have an introductory meeting with you, whether in person, virtual, or by phone. This first step is just to get to know each other to see if my services are the right fit for you. Once you decide that you want my firm to manage your funds, we will start the account opening process in which you will be guided every step of the way. At no time is there any pushy sales approach. I don't sell investment products. Everything is fully transparent.
How are investments purchased within my account?
I will invest the funds and monitor your portfolio all from my Schwab master account that is linked to your account. This is how investment advisors manage portfolios for clients. You will receive confirmation of every security I purchase and monthly statements from Charles Schwab. At no time will I have access to your account username, password, or have the ability to disburse funds.
How do you keep fees lower than the average advisor?
First Shelbourne keeps fees low by being fully independent and not working under the wrapper of a nationally recognized firm. While most firms charge a 1% fee or more, I charge a half percent annual fee. I work remotely from a home office instead of paying for high-priced city-center real estate. The savings are transferred to clients. In addition, the investment management is not outsourced to consultants and turn-key operators. All of the research and portfolio management is done in-house.
Will I have access to view my portfolio positions?
Yes. All clients can access their accounts through Charles Schwab using their usernames and password. I will guide you on how to accomplish this.
Is your company licensed and insured?
Yes. First Shelbourne is fully licensed and carries a full cyber insurance policy as well as errors & ommissions insurance.
Send an email and ask whatever you need help with.
Email: info@firstshelbourne.com
A New York Registered Investment Advisory firm helping individuals build bright futures.
© 2025 First Shelbourne LLC, All rights reserved.
First Shelbourne LLC is a registered investment advisor in New York. Financial advisor services are offered through First Shelbourne LLC, an investment advisory firm domiciled in the State of New York. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by our firm in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or under an applicable state exemption. This material is provided for informational purposes only and is not intended to be relied upon as a forecast, research, or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy.
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