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Rooting your peace of mind.

Wealth the Wesselt Way

Financial Planning Life Insurance & More

Wesselt Capital Group specializes in developing quality relationships with our clients by providing coordinated financial solutions designed to help them reach their personal and business goals.

We are the Philadelphia area leader for Pennsylvania life insurance, financial business planning and estate planning in the Philadelphia area. Contact one of our financial advisors to see why we lead the financial way to wealth in Pennsylvania.

Our objective is to help you, your family and/or your business prepare for a secure financial future. To accomplish this, we take a step-by-step approach to personal and business planning designed to help you identify and address your unique goals. Together, we evaluate your current financial situation, determine your future financial objectives, then implement a strategy to help you reach them. We then provide ongoing reviews of your plan to make sure it continues to keep up with any changes in your life.

We have a dedicated, loyal and experienced financial advisors and staff to assist you, and we are committed to providing uncompromising service choices. Our office is open 7 days a week to serve you. We pride ourselves in being flexible enough to meet the needs of our busiest clients.

Please call us if you have any questions about our firm or the range of financial products and services we provide. Our financial firm has a relationship with a variety of financial services companies, so if we don’t have a product or service, we know a group that does.

Wesselt Capital Group is located in Collegeville in beautiful Montgomery County, Pennsylvania.

 

Financial Planning Services

  • Protection Life Insurance – Financial Planning
  • Wealth Planning
  • Estate Planning
  • Business Planning

Why savings is the cornerstone of financial well-being

Savings. Protection. Growth. These three components can help build a sound financial plan—but savings is the keystone practice. Why? Rich Wesselt, founder and principal of Wesselt Capital Group, explains.

Watch on Youtube
See the transcript here

The basic premise underlying the macro
economic model would be savings,
protection and growth; three components
for most of which is developing a sound
savings habit. Which is 15% ideally of
one’s gross income and the reason for
that is there’s five factors that erode
wealth. First is inflation, second is is
tax, third miscellaneous something such
as the roof leaks or the basement
floods. Fourth would be planned
obsolescence, anything mechanical has a
shelf life, breaks down and needs to
be replaced. And fifth would be
technological change. One can think
of that as in 1990 basically, you had a
cable bill for $11 a month and no
cellphone and no internet and today it’s
routine that we would see a family
spending in the neighborhood $500 a
month for those three things.
Helping a client become fastidious in
their savings habit is one of the key
precepts of a model such as this. So
ideally we want to try to save 15% of
gross income and where that goes can be
things such as the bank, 401k, stocks,
bonds, mutual funds, cash value life
insurance, encompassing protection
components. But, we also recognize if
somebody is not saving much or is only
saving a few percentage points, we may
want to work with that client over a
period of years to get towards the 15%.
15% has become a mantra in the financial
services industry and it’s designed to
help people with the actual input or the
money supply going into a model. At times
there’s more emphasis on WHERE the money
goes and less emphasis on THAT the money
goes. So the 15% has a track
record of helping clients
build a high-level financial security. During
difficult times, if people cannot access
capital sometimes what happens is a
credit card bill, credit card debt starts
to increase at high interest rates with
high monthly payments and becomes a
drain and an inefficiency in an overall
plan. So in difficult times, accessing
some of the savings developed from
previous 15% habit does become part of a
safety net for people. There are things
that no matter how well designed the
plan is, things in life just come along
that you could never even foresee. So
being able to access capital at an
arm’s length very quickly, with proper
liquidity, has helped many of our clients
survive through tough economic times.
Many, many times – specifically with
younger couples – younger people facing
high initial monthly payments, the mantra
there is just to get started in some
fashion with building a habit. Habits as
we all know good or bad are hard to break
so we want to get into a consistent
habit. It could be as little as $50 a
month but just so the client gets
exposed to the importance of beginning
to put money away and ideally we want to
start that at the youngest age possible.

About Richard Wesselt, Principal and Founder of Wesselt Capital Group

With over 23 years of dedication to the financial services industry, Richard Wesselt brings a wealth of knowledge and experience in helping clients plan for a secure future with financial and investment planning. As principal of the Wesselt Capital Group, Rich uses a relationship driven, individual-based approach to macro economic planning. Rich has a bachelor’s degree in Economics from the Wharton School and is a member of Top of the Table. He holds his FINRA Series 6 Registration. Follow him on Twitter @RichWesselt.