Choosing a financial advisor is a significant decision. These questions are designed to help you understand how FirstFruits Wealth Management works, who we serve, how we are compensated, and what to expect from the relationship.

Frequently Asked Questions

  • Yes, I am legally and ethically required to act as a fiduciary, which means I’m required to act in my clients’ best interests when providing investment advisory services.

    You’d think this should be a requirement for the entire industry!

  • Fee-only means FirstFruits is compensated only by you, the clients, not by commissions from selling financial products.

    I do not receive any commissions for selling insurance, annuities, mutual funds, or other financial products.

  • I charge an assets under management fee based on the value of your investments.

    Most clients pay between 0.5% and 1.0%. We do have a minimum annual fee of $4,800/yr, which will be invoiced quarterly if clients do not have enough assets under management to cover the fee.

  • The full package. Your advisory fee includes ongoing financial planning and investment management.

    We normally conduct quarterly meetings in the first year, semi-annual meetings after that, plus any other conversations as needed.

    Depending on your needs, we will cover retirement planning, investment management, portfolio design and monitoring, proactive tax planning, cash flow planning, charitable giving strategy, insurance analysis, estate planning coordination, business-owner planning, education planning, ongoing meetings, and financial decision support among other things.

  • Client assets are custodied with Charles Schwab, an independent third-party custodian.

    While I provide all the advice, portfolio management, and trading myself, I do not directly hold your assets. Schwab will provide you account access, statements, trade confirmations, tax documents, and independent account reporting.

  • FirstFruits was intentionally built as a boutique firm. Many large firms assign advisors hundreds of client relationships, which can lead to standardized advice and limited personal attention.

    I intend to serve no more than 60 households, in order to have the capacity to provide highly attentive service without being stretched too thin.

    You don’t deserve to feel like a number.

  • FirstFruits works with individuals, families, and business owners who want personal, planning-first financial advice. Many clients are preparing for or in retirement, managing growing complexity, building wealth, selling or running a business, or thinking more intentionally about generosity and legacy.

  • We believe investments should be disciplined, diversified, tax-aware, and connected to a financial plan.

    We do not build portfolios around market predictions, hot stock tips, or short-term speculation. The goal is to take appropriate risk for the life your money is meant to support.

    We keep your costs low and ensure you stay invested to capture long-term growth.

  • Of course! No need to be located in Richmond, Va - I work with clients all across the country.

    We can always meet virtually or also meet in person if you are ever in town or I am in yours!

  • Clients are never locked into an advisory relationship. If you decide to end the relationship at any time, I’ll help make the transition as smooth as possible.

    Because all client assets are custodied at Charles Schwab, your accounts remain in your name. You may choose to keep the accounts at Schwab, move them to another advisor, or transfer them to another custodian.

    Any unearned quarterly advisory fees would be fully refunded to you based on your date of departure.

  • FirstFruits is intentionally personal, but it is also built with continuity in mind.

    Client assets are held in each client’s name at Charles Schwab, an independent third-party custodian. If Josiah were unexpectedly unable to serve clients, FirstFruits has a continuity plan designed to help clients access their information, receive transition support, and decide what they would like to do next.

    Clients would not be locked into FirstFruits. They could continue working with an advisor Josiah has recommended, move to another advisor, or manage their accounts directly through Schwab.

  • The name FirstFruits reflects a philosophy of stewardship.

    It comes from the biblical idea of “firstfruits” — giving the first and best back to God in gratitude and trust. (see Proverbs 3:9-10). The name points to the belief that wealth should be managed with wisdom, purpose, and responsibility.

    My planning work is practical, but also reflects a deeper conviction: money is not just something to accumulate but rather to steward well.