Frequently Asked Questions
About Us
What is Begbie Wealth Advisory?
Begbie Wealth Advisory (BWA) is an independent, financial planning firm founded by Christopher Begbie, CFP®, and based in Riverside, Illinois. BWA serves individuals and families throughout the western suburbs of Chicago and through the country. The firm is affiliated with LPL Financial and Good Life Advisors, providing clients access to an independent advisory structure without the conflicts of interest common at large wirehouse firms.
What does CFP® stand for, and why does it matter?
CFP® stands for Certified Financial Planner. It is one of the most rigorous credentials in the financial planning profession, requiring thousands of hours of education, a comprehensive board exam, ongoing continuing education, and adherence to a strict code of ethics. A CFP® is required to act as a fiduciary, meaning they must put the client's interests first at all times. Working with a CFP® means your advice is held to a higher legal and ethical standard than advice from a non-credentialed financial salesperson.
Where is Begbie Wealth Advisory located, and who do you serve?
BWA is based in Riverside, Illinois, and serves clients across the western Chicago suburbs including Riverside, Berwyn, La Grange, Brookfield, Western Springs, Hinsdale, Oak Park, and surrounding communities. Christopher also works with clients throughout the greater Chicago metro area, and throughout the country. Many clients are seen in person, and virtual meetings are available for clients who prefer remote service.
Is Begbie Wealth Advisory a fiduciary?
Yes. As a CFP® professional, Christopher Begbie is required to act as a fiduciary when providing financial planning advice. This means he is legally and ethically obligated to act in your best interest, disclose conflicts of interest, and recommend strategies that serve your goals rather than generate higher commissions or fees for the advisor.
Services and Planning Approach
What financial planning services does BWA offer?
BWA provides comprehensive financial planning across four core pillars: financial planning (cash flow, debt management, savings goals), investment management, retirement planning, and insurance and risk analysis. The firm also advises on estate planning coordination, tax strategy, and major life event planning. Rather than managing a single product or account in isolation, BWA takes a whole-picture approach that connects every area of your financial life.
What major life events does Begbie Wealth Advisory help clients navigate?
BWA specializes in financial planning for major transitions including getting married, having children, buying a home, changing careers or starting a business, receiving an inheritance, planning for college expenses, caring for aging parents, approaching retirement, selling a business, and estate planning. Each of these events creates financial planning decisions that, if handled well, compound positively over time.
Do you work with business owners?
Yes. BWA works with business owners on financial planning that integrates both personal and business finances. This includes retirement plan selection (Solo 401k, SEP-IRA, SIMPLE IRA), exit and succession planning, business owner insurance needs such as key person and buy-sell agreements, and the coordination of business income with personal tax strategy. Business owners often have the most complex financial pictures and benefit significantly from working with a planner who understands both sides of that equation.
Do you work with physicians and high-earning professionals?
Yes. BWA has particular experience working with physicians, dentists, attorneys, and other high-income professionals. This group typically faces unique planning challenges including high student loan debt entering their peak earning years, delayed retirement savings, disability income exposure, and complex tax situations. BWA helps high earners build a financial plan that accounts for their specific career arc and income profile.
Retirement and Investment Planning
How does Begbie Wealth Advisory approach retirement planning?
BWA approaches retirement planning as a long-term coordination problem, not just an investment allocation question. This includes projecting retirement income needs, optimizing account contribution strategies (traditional vs. Roth, employer plans, backdoor Roth), planning Social Security claiming timing, managing required minimum distributions, and stress-testing retirement plans against inflation, market downturns, and longevity risk. The goal is a retirement plan that holds up under a range of real-world conditions.
How does BWA manage investment portfolios?
BWA constructs and manages investment portfolios through its affiliation with LPL Financial, giving clients access to a broad universe of investment options including individual securities, ETFs, mutual funds, and model portfolios. Portfolios are built around each client's time horizon, risk tolerance, tax situation, and planning goals. Investment decisions are made in the context of each client's complete financial plan.
Insurance and Estate Planning
What role does insurance play in a financial plan?
Insurance is the risk management layer of a financial plan. Without adequate coverage, a single event such as disability, premature death, a long-term care need, or a liability claim can erase years of financial progress. BWA reviews clients' life insurance, disability income insurance, long-term care insurance, and property and casualty coverage as part of a comprehensive plan. The goal is not to oversell insurance but to identify genuine coverage gaps and make sure clients are protected against the risks most likely to derail their financial plan.
Do I need a will or trust, and can BWA help?
A will is a baseline estate planning document that almost every adult needs, particularly those with children or significant assets. Trusts can provide additional benefits including probate avoidance, control over asset distribution, and estate tax planning. BWA does not draft legal documents but coordinates with estate planning attorneys to ensure that clients' financial accounts, beneficiary designations, and legal documents are all aligned. Many estate plans fail not because the documents are wrong, but because account titling and beneficiary designations were never updated to match them.
Working with BWA
How do I get started with Begbie Wealth Advisory?
The first step is an introductory conversation to discuss your current situation, your goals, and whether BWA is the right fit for your needs. There is no cost or obligation for this initial meeting. From there, BWA can outline an engagement structure and planning scope tailored to your situation. You can reach BWA through begbiewealth.com or by contacting Christopher Begbie directly.
How is Begbie Wealth Advisory compensated?
BWA operates on a fee-based model. It is worth understanding the distinction between fee-only and fee-based, because it matters.
A fee-only advisor is compensated exclusively through client fees and accepts no commissions of any kind. A fee-based advisor charges planning or management fees as the primary compensation structure but may also receive commissions on certain products, typically insurance.
Christopher Begbie is fee-based for a client-centered reason: when a financial plan identifies an insurance need, BWA can place that coverage directly as a convenience. Clients always have the option to purchase insurance independently through any provider they choose. BWA never requires clients to purchase insurance through the firm, and insurance recommendations are made only when the analysis shows a genuine need. The ability to facilitate placement simply removes friction for clients who prefer to handle everything in one place.
The core of every engagement is planning and investment management, where compensation is tied directly to the work done and the value delivered, not to product sales. Christopher's CFP® credential and fiduciary commitment apply regardless of how a client chooses to handle their insurance needs.
What makes Begbie Wealth Advisory different from a large bank or brokerage?
Large banks and brokerages are built around product distribution. Their advisors may carry titles like financial advisor or wealth manager but are often primarily salespeople for proprietary products. BWA is independently owned, CFP®-credentialed, and operates as a fiduciary. There is no home office pushing proprietary products, no sales quotas, and no conflict between what is good for the firm and what is good for the client. Every recommendation starts with your plan, not with a product catalog.