Below you can view our most common questions and answers
The minimum investment required is $150,000.
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.
What distinguishes my company from others is a strong emphasis on securities valuation and customized investment strategies. While many firms today prioritize broad ETF or mutual fund approaches, I believe this trend overlooks the potential benefits of investing in individual stocks and bonds.
One of the features of my firm is the ability to design customized portfolios focused on generating monthly income through CDs, bonds, and treasuries. These portfolios are carefully constructed to minimize the excessive volatility associated with the stock market. Many individuals are unaware that it’s possible to build a reliable income-generating portfolio without relying on high-risk stocks.
Finally, I am obsessed with maintaining low fees for my clients. There are no hidden commissions, upcharges, or the reliance on selling your any sort of commissioned financial product (I don't sell investment products).
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.
My firm’s approach is designed to relieve clients from making individual trading decisions and doesn not involve discussing specific stock picks. Instead, clients rely on my expertise to make these decisions on their behalf.
First Shelbourne conducts proprietary research on the companies it analyzes and does not disclose this information externally or with clients, ensuring the confidentiality and security of its insights.
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.
401k, 457, and 403b “direct rollovers” are not taxable events. There are no penalties if executed correctly. You will continue receiving the benefits of tax deferral when we manage your IRA.
After leaving a job, you can leave your funds in the current employer plan or complete a “direct rollover” into an Individual Retirement Account (IRA) that First Shelbourne can manage. I will complete this process for you, which can be executed electronically. First Shelbourne will open a rollover IRA account for you (using Charles Schwab as the custodian), which usually will take only a couple of days. After opening the account, I will transfer funds from your employer plan to your IRA. At no time does First Shelbourne have access to your funds. Your new IRA account will be a Charles Schwab account titled in your name that I manage from my Schwab master account.
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, and others.
First Shelbourne's focus is on managing your assets such as a rollover IRA, funds from real estate sales, inheritances, savings, or life insurance payouts.
Yes. You will receive monthly statements from Charles Schwab, which show all account transactions for that period and the account balance.
Every individual has different goals and risk tolerance. I will learn about your financial situation and construct a portfolio to meet your needs. Some individuals may want higher growth, while others need monthly income generated. I buy stock index ETFs, individual stocks and bonds, CDs, and various other assets. Each portfolio is not only tailored to each clients respective risk profile, but also what assets are being offered in the market at fair valuations. Interest rates and valuations on stocks and bonds change every year, so I don't use a one-size-fits-all approach.
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 we purchase and monthly statements. At no time will I have access to your account username, password, or have the ability to disburse funds.
Boston-based research firm DALBAR has shown that retail investors continually underperform the market by a large margin. Less experienced investors are known to sell when markets go down, then re-enter after markets rise, thus hurting their long-term performance. A portfolio manager with experience investing in markets can allocate a low-cost portfolio according to an individual’s risk profile.
Portfolio managers can set up a portfolio with lower volatility while preventing individuals from making poor, speculative decisions after listening to uninformed friends, family members, or television punditry. Loss isn’t unavoidable when investing in securities, but a correctly structured portfolio can control volatility and downside risk. I invest a large portion of client portfolios in individual high-quality bonds. Most individuals are too heavily weighted in equities without realizing it. This causes investors to sell out at market bottoms continually. I build portfolios for cash flow and longevity, not speculating on whether a market will rise or fall.
I believe that even most do-it-yourself investors and organizations should utilize a portfolio manager for the bulk of their wealth.
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 keeps fees low by being fully independent and not working under the wrapper of a nationally recognized firm.
I work remotely from a home office instead of paying for high-priced city center real estate. The savings are transferred to clients.
First Shelbourne's investment management is not outsourced to consultants and turn-key operators. All of the research and portfolio management is done in-house.
No. You will pay an annual fee of 0.50% on the assets I manage for you. Additionally, some of the ETFs I invest in have low expense ratios, but these fees are paid directly to the ETF provider, not to me.
For example, most Vanguard ETFs have an expense ratio of 0.03%. This means that for every $100,000 invested, the ETF charges $30 per year. This fee is unavoidable and applies to all investors, whether or not they use an advisor.
Many advisors choose high-fee mutual funds, which add significant costs on top of their management fees. I avoid this practice and would never purchase high-fee products for my clients.
Fees are deducted quarterly directly from the investment account. Since First Shelbourne’s annual fee is 0.50% of the total assets under management, 0.125% will be deducted each quarter using the quarter-end account balance plus any accrued interest.
A benefit for investors is that no tax is required to be paid on the fee, even though the fee is deducted directly from an IRA. So if one rolls over their 401k into an IRA with First Shelbourne, they will never owe any taxes ever on the money used to pay the fee (The IRS allows investment advisory fees to be paid directly from a retirement account – which effectively allows the fee to be paid with 100% pre-tax dollars.).
Since I custody all client assets with Charles Schwab, please read “How client assets are protected at Schwab.”
Schwab is the industry leader, providing SIPC insurance on investment accounts and FDIC insurance on bank accounts.
Yes. I carry Errors & Omissions insurance as well as a comprehensive Cyber policy in the event of any ransomware or other risks. The firms custodian, Charles Schwab, also has a security guarantee in which any losses from unauthorized account activity will be covered. You can read more about this feature here.
To verify that First Shelbourne is registered, please visit adviserinfo.sec.gov
Click the tab that states “Firm,” and input First Shelbourne’s CRD# [321045]. Here you will be able to view the latest ADV that has been filed with the state as well as First Shelbourne’s registration status and part II brochure.
First Shelbourne’s founder, Christopher Wargas, holds the CFE® credential (Certified Fraud Examiner). Individuals who have obtained the CFE credential understand the underlying factors that motivate people to commit fraud and are trained to identify red flags that indicate evidence of fraud and fraud risk. In the investment advisory business, it’s extremely important that the advisor is trustworthy and is a fiduciary to clients.
To verify this credential, you can visit the ACFE website at the following link https://www.acfe.com/fraud-resources/find-a-cfe and input only the first name, last name, and country (Christopher / Wargas / United States).
This credential can also be verified on Credly, which is the leading electronic verification system for credentials. Please visit here and then click the “Verify” button.
Form ADV is something all Registered Investment Advisors must file to get registered (and an advisor can’t get registered unless they passed a licensing exam, like the Series 65, for example). This is one of the most important documents when hiring an investment advisor. Why? Because a potential investment advisor can’t lie to you. All of the info can be cross-checked with form ADV.
As a client, you want to ensure the investment advisor in question is properly licensed and that what they tell you is true (background information, disciplinary information, legal issues, no history of theft, embezzlement, forgery, fraud, etc.).
Form ADV part II is what is called a firm “Brochure.” This document has everything in it, from how an advisor charges fees and how much, to information on the custody of funds.
First Shelbourne’s form ADV can be viewed here on the SEC’s website.
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. 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.
First Shelbourne LLC. Copyright 2025. All rights reserved
