MOUNT VERNON — Holistic, long-term accessibility is the key philosophy behind a new financial planning firm in Mount Vernon.
Zach Falbo launched Mount Vernon Financial on May 18. He shares an office with Mount Vernon CPA at 20 W. Ohio Ave.
“Financial planning hones in on how we can help a client from the beginning of figuring out their investments, and then over time working on how that fits in with their lives and actual goals and plans,” Falbo said.
“My goal with anybody I meet with is to be able to continue to monitor over time and help make sure that that client has the ability and the knowledge that they can come back to me as their financial planner, as a guide and resource, for them at all times.”
In his mid-30s, Falbo has been in the financial industry for 10 years, starting off in investments.
Before launching Mount Vernon Financial, he worked for one of the top 5 largest wealth management firms. He preferred not to name the firm publicly.
“My specific job was to concentrate within high net worth, which is more like the executive director and above, for certain compensation that they received,” Falbo explained. “I helped with the planning and attack strategy as well.”
However, Falbo said ultra high-net-worth individuals have certain comfortabilities.
“I felt like I wasn’t being as much of a benefit to my local community and people who need, I think, more help overall,” he said.
Falbo’s office hours are 9 a.m. to 5 p.m. by appointment, but he is flexible.
“I know that people work 9 to 5 throughout the week, so I’m happy to meet people after hours when it makes sense at their homes or wherever they feel comfortable,” he said.
National-level experience, local-level service
Originally from Pittsburgh, Falbo attended graduate school in Florida, obtaining his master’s in business administration. He met his wife, Evelyn, the last week of grad school.
The couple lived in Florida for eight years and moved to the Mount Vernon area in 2022. They have three children.
Falbo met Derek Shunk, owner of Mount Vernon CPA, through church.
“Zach and I both moved from a corporate environment to small town to serve people,” Shunk said.
Falbo is majority owner in Mount Vernon Financial. Shunk is a non-advisory minority owner. However, Falbo emphasized Mount Vernon CPA and Mount Vernon Financial are two separate firms. Under federal regulations, Shunk cannot sell securities or refer individuals to Falbo; he can only make an introduction.
A transparent, client-first structure
Falbo said he is a fee-only advisor and fiduciary, which sets him apart from many other advisers and firms.
“What that means is I don’t have specific products that I’m pushing, so I don’t get a commission or a fee based on that,” he explained. “There are no strings that are giving me a conflict of interest.”
Falbo said the most significant difference is his holistic approach over time.
“A lot of investment firms take on so many clients and are not able to keep up with the monitoring side — the uptake for a client situation to change,” he said.
“I guess it boils goes down to I’m literally here to serve clients. I’m trying to help them do what’s in their best interest always.”
Zach Falbo, Mount Vernon Financial
Falbo said that often a client does not know they can go to their advisor and ask for advice on whether to refinance a house or keep a 30-year mortgage.
“The differentiator is the actual holistic approach: They can continually come back. They’re paying for that service,” he said. “I think access is something clients feel like they don’t have, even though they’ve met with an advisor.”
Rooted in community service
Falbo said having his office in the same building as Mount Vernon CPA offers clients additional options.
“You’ve got the CPA side, and then you’ve got the financial planning side that work in tandem, and it gives the clients the options to meld those two,” he said.
Shunk said that as a CPA, he constantly hears from clients selling rental property who want to know what to do with the funds.
Another common theme is clients who are retiring and have questions about Social Security.
“We can work in conjunction and say, here’s your tax impact, and Zach can say, if we liquidate $150,000 right now to pay off your house, this is the impact it has 10 years down the road,” Shunk said. “There’s so much that goes hand in hand.
Falbo said, “Every aspect of financial planning has to do with tax. Which account do you withdraw from first from a tax perspective when you’re nearing retirement? When you go on Medicare, what levels can you not go over from an income perspective … so you don’t get IRMAA surcharges?”
Falbo said that because the two specialties overlap so much, clients can have peace of mind that both worked together to make a plan.
“My goal personally is to serve the community the best we possibly can, and I think giving clients the option and having a close-knit relationship between the two firms is the best way to do that,” Shunk said.
Falbo agreed.
“That’s a big reason why we are in partnership. We genuinely care. We just want to help,” he said.
“I find joy when I can show someone you actually can do this. You can retire, let’s build this plan. … Let’s stick to this, and we can do it.”
Residents can reach Falbo at 740-204-6121 or via email at zfalbo@mountvernonfinancial.com.
