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Exploring Life & Business with Breanna Stott of Finwell

Today we’d like to introduce you to Breanna Stott.

Hi Breanna, thanks for sharing your story with us. To start, maybe you can tell our readers some of your backstory.
I started working in banking right out of high school because I was already living on my own. I worked my way up to becoming a VP & Wealth Advisor to entertainers, athletes, tech founders and business executives in the Beverly Hills and surrounding areas of California. I realized that there was a gap in the wealth management space when working at larger firms. Either minimums were too high or the financial institutions pushed high commission products on clients, creating a conflict of interest between advisor and client. So, I founded Finwell. An unbiased boutique financial planning and wealth management firm that specializes in entertainers, athletes, business owners and executives. I relocated to Nashville because of my close relationships to individuals in the music space, to be closer to friends and family and to grow Finwell in a place with a sense of community for small businesses.

Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
My journey has been smoother than others and harder than others. I don’t think I have met someone who can say they have had a complete smooth journey. Starting and running a business is a unique type of hard. I wouldn’t change it, but I understand why the failure rates are what they are and why we all need to be supportive of small businesses before they disappear. Our country is great because of our ability to create, grow and thrive if we work hard enough, and work honestly. That needs to be protected and supported by the community, government and educational systems.

As you know, we’re big fans of Finwell, Inc. For our readers who might not be as familiar what can you tell them about the brand?
Finwell is a boutique financial planning and wealth management firm. We work with individuals and their families to help create financial peace of mind. We do this by actually listening to clients, seeking to understand what is going on in their life and then collaboratively working together to identify and prioritize their financial and life goals. We are relationship based because we believe that building a lasting relationship is the best way to ensure success. We do little marketing to keep our fees low and gain most new clients through client referrals, CPAs, attorneys and participating in events. People choose us because of our value, our expertise and being a fiduciary, meaning we legally have to and want to put our clients first.

The crisis has affected us all in different ways. How has it affected you and any important lessons or epiphanies you can share with us?
Covid created new stresses. Our financial planners became a resource for clients in other ways. We felt more like life coaches/ therapists than financial planners and felt that we were able to be there for clients differently than we had been before. We work with some organizations as an employee benefit for financial literacy and workplace benefit/financial planning. Those clients reached out a lot more with family dynamic questions/concerns and overall life updates. We celebrated with a lot of clients too! We became a first call when they were promoted, graduated, entered a healthy relationship, and bought a new home. Human advisors added a lot of value when people needed it the most, during covid.

Pricing:

  • Financial Planning & Coaching – one time fee based on complexity. Average price of $1,199 for financial plans and $399 for financial coaching sessions, group discounts may apply.
  • On-going financial advice through retainer starting at $99/month
  • Wealth and investment management – starting at 1% of assets under management

Contact Info:

Image Credits
Breanna Stott

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