Affordable guidance offers a path to improved financial wellness

Tony Capitano • New Smyrna Beach, FL
Fairwinds Credit Union • LPL Financial

I joined Fairwinds Credit Union in 2022 after working as a private client advisor at the world’s largest bank. At that time, I found myself at a crossroads in my career. I felt I was only helping wealthy clients who already had their pick of advisors to work with.
Candidly, I didn’t feel very good about it. I became a financial advisor to help as many people as possible improve their financial lives. What drew me to Fairwinds was its unwavering commitment to helping members achieve financial freedom.

At Fairwinds, I saw the opportunity to help a broader range of individuals learn to save more, eliminate debt, build wealth, and ultimately live generously. However, I noticed that many members who were just getting started on their financial journeys—or those who were the most lost on it—weren’t getting the support they needed. These members often believed they couldn’t afford to work with a financial advisor or lacked significant investable assets. They were missing out on help with education, execution, and accountability, which are critical to financial success.

To address this gap, I developed a financial-coaching subscription service that offers accessible and affordable financial guidance.

Here is how the program works:

• Affordable access: For a modest $22.99 per month, members receive personalized guidance on the most important issues affecting their financial lives.
• Personalized coaching: I provide one-on-one financial guidance on creating budgets, establishing banking relationships, reviewing loans, taking advantage of employer matching programs, and building credit or paying down debt as needed.
• Milestone-based progress: Subscribers are guided through key money milestones toward financial freedom, from an initial assessment to creating next steps. Monthly accountability calls and quarterly action items ensure consistent progress.
• Ongoing support: Subscribers can email me anytime for answers to questions or further guidance on implementing action steps.
• Professional referrals: As needed, I can connect subscribers to independent third-party professionals, such as attorneys or CPAs, or to Fairwinds’ well-qualified professional partners.
• Financial health tracking: Subscribers gain access to Elements, a financial software tool that educates them during onboarding and tracks their financial health over time.
• Advanced topics: Once members have made substantial progress on the money milestones, they can explore advanced planning topics such as tax planning, estate planning, retirement planning, and overall investment strategy.

This pilot program should offer multiple benefits to our organization over time:

• Providing a valuable service to members at an affordable price.
• Offering a potential incremental revenue source for the credit union.
• Increasing referrals to Fairwinds’ strategic partners.
• Making it easier for subscription members to transition to Fairwinds’ more comprehensive wealth-management advisory products and services as their financial situation improves.

In the first year, the subscription coaching program has gained a substantial number of participants and received very positive feedback. Most importantly, these subscribers are making meaningful strides toward improving their financial well-being.

Disclosure: Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

Photography by Lunar Studio