Frequently asked questions

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.

What does your typical clients financial situation look like?

I manage portfolios for individuals and families with varying net worths. It's important to understand that investing and accumulating wealth is a personal lifelong journey, and one should never compare their financial situation to others. My clients include retired correction officers, medical professionals, former railroad workers, college professors, sanitation workers, police officers, teachers, business owners, and others.

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.

How do I pay the advisory fee?

Fees are deducted quarterly directly from the investment account. The annual advisory fee is 0.50% (half of one percent), with one-quarter of that amount withdrawn each quarter. One advantage for investors is that these fees can be paid directly from an IRA without triggering any tax liability. For example, if you roll over a 401(k) into an IRA with First Shelbourne, the IRS permits investment advisory fees to be paid directly from the retirement account. This means the fee is effectively paid with 100% pre-tax dollars, and you will never owe taxes on the amount used to cover the fee.

Can your firm purchase Bitcoin?

Yes. Crypto assets aren’t suitable for every client. However, for those seeking exposure, I utilize Bitcoin ETFs. These funds offer what I believe is the safest and most straightforward way to gain access to Bitcoin, with proper custodianship and robust security protocols in place.

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.

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. The opinions expressed are subject to change at any time without notice. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by First Shelbourne to be reliable, are not necessarily all-inclusive, and are not guaranteed as to accuracy.

For information concerning the status or disciplinary history of a broker-dealer, investment adviser, or their representatives, a consumer should contact their state securities administrator.

Frequently Asked Questions

Don't see your question answered?