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F.N.B. Wealth Management Review

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F.N.B. Wealth Management

F.N.B. Wealth Management, sometimes known as F.N.B. Investment Advisors, Inc., is a fee-only financial advisor based out of Pittsburgh, Pennsylvania. It is the wealth management arm of First National Bank of Pennsylvania (FNBPA), a company with 400 bank branches across Pennsylvania, Maryland, Ohio, North Carolina, South Carolina and West Virginia. The firm has $3.35 billion in assets under management (AUM) and 22 financial advisors on staff.

F.N.B. Wealth Management Background

F.N.B. Wealth Management is owned by First National Bank of Pennsylvania (FNBPA), which was established back in 1864. F.N.B. Wealth Management was founded as a branch of FNBPA in 1999. Prior to the creation of this firm, the investment division of First National Trust Company handled all of FNBPA’s client services.

Technically speaking, F.N.B. Wealth Management encompasses the services of three of FNBPA’s branches: First National Trust Company, F.N.B. Investment Services and F.N.B. Investment Advisors, Inc. F.N.B. Investment Services is also known as Cetera Investment Services, LLC, a separate investment advisory firm.

What Types of Clients Does F.N.B. Wealth Management Accept?

Individuals, high-net-worth individuals, corporations, pension and profit-sharing plans, charitable organizations, insurance companies, financial institutions, state/municipal government entities and clients of First National Trust Company round out F.N.B. Wealth Management’s typical client base.

F.N.B. Wealth Management Minimum Account Size

F.N.B. Wealth Management generally requires a minimum of $1 million in investable assets to become a client. However, the firm’s financial planning services call for individuals with an annual income of at least $200,000 or $500,000 ready to invest.

Services Offered by F.N.B. Wealth Management

There’s no shortage of investment advisory and financial planning services at F.N.B. Wealth Management. Here’s a detailed layout of what the firm can offer:

  • Financial security planning
  • Retirement planning
  • Advice for alternative investments
  • Tax planning
  • Estate planning
  • Employee benefit analysis
  • Cash management
  • Debt management
  • College fund planning
  • Investment advisory
    • Investor profile determination for:
      • Risk tolerance
      • Investment goals
    • Analysis of your current and future financial position
    • Multiple prebuilt investment strategies
  • Sudden wealth or inheritance planning
  • Banking services
  • Trust and fiduciary services
  • High-net-worth services for business executives
  • Insurance planning
  • Asset protection
  • Professional money management
  • Philanthropic gift planning
  • Real estate advisory
  • Endowment advisory

F.N.B. Wealth Management Investment Philosophy

Each client at F.N.B. Wealth Management is assigned to one of the firm’s five investment portfolio models. Although the strategies associated with these models are fairly set in stone, your advisor will customize them a bit to fit your personal needs. Check them out below:

F.N.B. Wealth Management Portfolio Models
Model Name Types of Investments Designed For
Tactical Fundamental Core
  • Moderately aggressive mix of large-cap stocks
  • Diversified satellite asset classes
Capital appreciation with a medium amount of income
Tactical Fundamental Growth
  • Aggressive mix of large-cap growth stocks
  • Diversified satellite asset classes
Pure appreciation with no immediate need for income
Tactical Fundamental Value
  • Conservative mix of large-cap, dividend stocks
  • Diversified satellite asset classes with a value bias
Above average income with appreciation as a secondary goal
Tactical Dividend Income
  • Conservative mix of large-cap, dividend stocks
  • Diversified satellite asset classes with a value bias
Above average/increasing annual income with appreciation as a secondary goal
Core Fixed Income
  • Government, agency and investment-grade corporate bonds
  • Mutual funds
Institutional investors whose objective is lower risk with modest annualized return

Fees Under F.N.B. Wealth Management

F.N.B. Wealth Management charges an asset-based annual fee for its investment advisory services. Clients pay these fees monthly, in arrears, based on the prior month’s daily average market value of their assets and investments. The rates listed in the following three tables are negotiable depending on the scale and complexity of your relationship with the firm.

Fees for Personal Investment Advisory Accounts
Assets Under Management Annual Fee
First $1MM 1.00%
Next $2MM 0.90%
Next $2MM 0.70%
Above $5MM 0.50%

 

Fees for Fixed-Income and Federated Investment Counseling Accounts
Assets Under Management Annual Fee
First $1MM 0.70%
Next $2MM 0.60%
Next $2MM 0.45%
Next $5MM 0.35%
Above $10MM 0.25%

 

Fees for Institutional Investment Advisory Accounts
Assets Under Management Annual Fee
First $1MM 0.90%
Next $4MM 0.70%
Next $5MM 0.50%
Above $10MM 0.30%

F.N.B. Wealth’s financial planning services take on a fixed-fee schedule that’s contingent on the nature of your client relationship with FNBPA. You’ll be placed into one of three categories: “banking and wealth management customers,” “lending customers” and “combined customers,” meaning you fit into both of the previous two slots. The more money you have invested with FNBPA, the less you’ll pay for financial planning.

Financial Planning Fees for FNBPA Banking & Wealth Management Customers
Assets Complete Plan Fees
Up to $250,000 $1,500
$250,001 - $500,000 $1,000
$500,001 - $1,000,000 $500
Over $1,000,000 No fees

 

Financial Planning Fees for FNBPA Lending Customers
Assets Complete Plan Fees
Up to $500,000 $1,500
$500,001 - $1,000,000 $1,000
$1,000,001 - $1,500,000 $500
Over $1,500,000 No fees

 

Financial Planning Fees for FNBPA Combined Customers (Bank Deposits [BD], Wealth Management [WM] and Lending [L])
Assets Complete Plan Fees
  • Less than $250,000 in BD/WM
  • Less than $500,000 in L
$1,500
  • $250,000 in BD/WM
  • $500,000 in L
$1,000
  • $500,000 in BD/WM
  • $750,000 in L
$500
  • $750,000 in BD/WM
  • $1,000,000 in L
No fees

Check out this table to see how F.N.B.’s fees for its management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.

*Fee estimates only consider the maximum base fees for the services each firm provides. You may also pay manager fees and other fees, which can vary in amount. **All figures are based on median fee levels according to Bob Veres' 2017 Planning Profession Fee Survey. The above estimates solely take into account AUM-only fees. Total costs will likely be higher due to additional expenses.
Estimated Fee Comparison*
Your Assets F.N.B. Wealth Management Personal Investment Advisory Accounts National Median Advisory Fees**
$500K $5,000 $5,000
$1MM $10,000 $8,500 - $10,000
$5MM $42,000 $25,000 - $32,500
$10MM $67,000 $50,000

What to Watch Out For

Under the appropriate set of circumstances, F.N.B. Wealth Management may recommend that you complete a rollover of your 401(k) into an individual retirement account (IRA) at the firm. This poses a potential conflict of interest, as any such rollover will inherently earn the firm advisory fees based on the amount in assets you roll over. Not only are you under no obligation to accept this recommendation, but F.N.B. Wealth also abides by fiduciary duty. This means the firm is legally obligated to act in your best interest, no matter what.

Disclosures

F.N.B. Wealth Management has no disclosures listed on its Form ADV, giving it a clean legal and regulatory record.

Opening an Account With F.N.B. Wealth Management

The simplest way to find out more about F.N.B. Wealth Management is to call the firm’s trust and retirement advisors at (888) 824-5833. If you’re ready to become a client, feel free to stop by one of F.N.B. Wealth’s branches listed below.

Where Is F.N.B. Wealth Management Located?

F.N.B. Wealth Management’s offices are integrated into First National Bank of Pennsylvania’s branches. Take a look over the full list of locations here:

  • Erie, PA: 711 State Street, 2nd Floor
  • Williamsport, PA: 90 Maynard Street
  • Johnstown, PA: 532 Main Street, Suite 5
  • Harrisburg, PA: 101 North Second Street
  • Hermitage, PA: One FNB Boulevard, Suite 3
  • State College, PA: 117 South Allen Street
  • Monroeville, PA: 4220 William Penn Highway, 2nd Floor
  • Cleveland, OH: 55 Public Square, Suite 1460
  • Baltimore, MD: 300 East Lombard Street
  • Greensboro, NC: 701 Green Valley Road, Suite 102
  • Raleigh, NC: 3600 Glenwood Avenue, Suite 300

How to Start Investing

  • There’s no easier route to becoming an investor than opening an account with an online brokerage firm. These companies often allow you to invest in a wide range of investment types, including stocks, ETFs, bonds, mutual funds, cryptocurrencies and more. Online brokerage accounts are perfect for DIY investors.
  • Financial advisors typically have ample investing experience under their belt, making them great partners for alls types of investors. Many firms even offer client investment discretion, meaning you’ll have a say in the types of investment used in your portfolio. SmartAsset’s financial advisor matching tool can set you up with as many as three local advisors so you can get your portfolio off the ground quickly.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about cost of living in retirement there.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology SmartAsset calculated the average cost of living for retirees in the largest U.S. cities. Using that calculation, we determined how many years $1 million would last in retirement in each major city.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors throughout the country. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%, reflecting the typical return on a conservative investment portfolio. Finally, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would last in each of the cities in our study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research