Think Globally, Invest Globally
“We Give You The Investment Advice We Follow Ourselves.”
With significant wealth comes significant complexity. For more than 30 years, Jim David, CPA, has been helping people make the most of their wealth through investment, financial, and tax advice, both as a Registered Investment Adviser and a Certified Public Accountant.
Unbiased investment advice stems from a fee-only financial structure. We receive no compensation from any product recommended, nor do we represent any product or company; we only represent you, our client.
We utilize globally diversified, low-cost and tax efficient portfolios. Emphasizing evidence over emotions, we'll show you how to invest more confidently, with time on your side and in a way that reflects your personal goals and risk tolerance.
Effective tax planning is essential to successful financial planning. The fundamental tax knowledge that we as CPAs have, married with our planning and investment expertise, makes a very powerful combination. It gives you and your family the greatest probability for achieving your desired lifestyle and allowing for maximum weatlh transfer.
I received my master’s degree in Taxation from Georgetown University, an MBA from the College of William & Mary, and a bachelor's degree from Cornell University.
Prior to founding David Wealth Management I was an Investment and Strategic Advisor for more than 3 years at Brown Advisory in Chevy Chase, Maryland; and a Managing Director in the Private Client Group at FBR Capital Markets Corporation in Arlington, Virginia for over 10 years. Before that I was a practicing CPA for more than 15 years, specializing in tax compliance and planning for individuals, with the CPA firm I founded in 1993, David & Samson, and later sold to CBIZ in 1998, Kenneth Leventhal & Company and PWC, all in the metro DC area.
I co-founded David Wealth Management in mid 2012 with my wife, Maria Coakley David, because we wanted to share our knowledge on financial investments. We have lived in Northern Virginia for over 30 years, where we raised out four children, Kristin, Shannon, CJ and Michelle. We are proud grandparents of one grandchild (so far), Collin.
David Wealth Management has a succession plan with the The Colony Group to be part of the Focus Succession Program. This Program is designed to ensure continuity of service and advice to our clients if any event or situation significantly impacts our ability to provide these services. We believe The Colony Group has a shared culture, service model, investment philosophy and the capability and capacity to serve clients.
At David Wealth Management, you'll benefit from our methodical approach, where every service is integrated, every decision is informed and, most of all, every move is made in your best interest. From advice to implementation to onging oversight, we'll act as your lead advisor, managing your money and helping you stay on course toward your goals.
We achieve this through a measured, step-by-step planning process:
We ask that you complete a detailed questionnaire and meet with you to evaluate your current financial position and discuss your financial needs and goals.
We build you a financial plan based on your information and input, our expertise, and utilization of the best planning tools.
We review your plan with you and together we agree on how you would like to proceed.
We take care of the paperwork and get your plan moving forward.
We have regular meetings with you to review the progress of your plan and discuss any life changes.
Our fees for financial planning services only are $250 per hour. Prior to providing any services we discuss the nature of the work with you and provide an estimated fee.
It has been our experience that investment success is more likely achieved with clearly defined investment principles - these principles define our investment philosophy.
Modern Portfolio Theory
We structure and manage globally diversified portfolios using the principles of Modern Portfolio Theory (“MPT”). MPT is an investment methodology that suggests that investors may benefit from having a portfolio of holdings invested in a variety of asset classes. To the extent that these asset classes are non-correlated, the portfolio will experience investment returns with mitigated risk. Rather than looking at the risk of an individual security, we examine the risk of your portfolio as a whole.
Academic research has provided evidence that an investor's asset allocation, the selection of asset classes and the portfolio percentage allocation to each, is the single most important element in a portfolio strategy. Asset allocation accounts for over 90% of a portfolio's performance.
We offer a selection of model portfolios that provide a range of asset allocations, equity and fixed income exposure levels. We recommend for you the model determined to be the most appropriate and consistent with that of your personal goals, objectives, time horizon and risk tolerance.
We use institutional investment strategies offered through fund manager Dimensional Fund Advisor.
Our Philosophy Includes:
1. Knowing and heeding the insights available from those who have advanced degrees.
2. Structuring your portfolio so that you're investing with rather than against the market and its expected returns; building and maintaining low-cost, globally diversified portfolios that reflect your personal goals and risk tolerances.
3. Avoiding your own most dangerous behaviors - ingrained through eons of evolution that tempt you to make the worst financial decisions at all the wrong times.
David Wealth Management charges a single fee for its advisory services, which includes both financial planning and investment management services. The fee is charged annually, billed quarterly, and is based on a percentage of assets under management.
$0 - $500,000
$2 M – $5 M
**Fee schedules may be altered based on client needs **
As a fee-only advisor, we do not receive any compensation for products we recommend to our clients. Since we do not represent any product or company we are able to operate as independent agents for you.
Our unbiased advice comes from our experience in both good and bad markets. Our goal is to positively impact our client’s lives by providing personalized service. The advice we offer to you, we use ourselves.
Ordinarily, ballroom dancing and financial planning aren't two disciplines you would couple together. But now they are two of the most influential aspects in Jim David and his wife Maria’s lives. The pairing began when Jim he gave Maria six dance lessons for Valentine's Day. Jim knew Maria danced as a child and still enjoyed dancing so he thought it might be a nice way to spend some time together. Maria loved it and Jim found himself hooked as well. Those six lessons soon gave way to more than Jim could have imagined. After some research they opened a Fred Astaire Franchised Dance Studio in Fairfax, Virginia.
As a bonus, Jim discovered a number of commonalities between ballroom dancing and his professional pursuits.
In 2014, Jim and Maria decided to combine their love of dancing and philanthropy. They established DC's Dancing Stars Gala, an annual event, which has raised more than $700,000 over the last three years for both local and national charities. The one night event features local DC celebrities performing choreographed routines in front of a panel of judges. The winner of the competition receives a mirror ball trophy and $10,000 for the charity of their choice.
On Saturday, November 5, 2016, the third annual DC's Dancings Stars Gala raised more than $350,000 for local and national charities. The event was at the Sheraton in Tyson's Corner, Virginia, and featured 11 local Celebrities and 4 Corporate Challenge Dancers. The 2016 charities include: The Leukemia & Lymphoma Society, Marymount University, Lymelight Foundation, Code of Support Foundation, Jennifer Bush Lawson Foundation, Operation Renewed Hope Foundation and Code of Support Foundation.
David Wealth Management may engage the services of The Colony Group. The Colony Group is a member company of Focus Financial Partners, a leading partnership of independent, fiduciary wealth management firms. These services may include financial planning and investment advisory services.
David Wealth Management has a succession plan with The Colony Group to be part of the Focus Succession Program. This Program is designed to ensure continuity of service and advice to our clients if any event or situation significantly impacts our ability to provide these services. We believe The Colony Group has a shared culture, service model, investment philosophy and the capability and capacity to serve clients.
David Wealth Management is proud to offer institutional investment strategies through fund manager Dimensional Fund Advisors. Dimensional's leadership in putting the science of investing to practical work complements our own approach to representing our clients' highest financial interests through evidence based investing.