USA Today's "Money Watch" features First Financial Consulting

Money Watch, a personal finance column that runs every Saturday, features a financial planner from the National Association of Personal Financial Advisors answering reader questions about saving, protecting and growing your money.

Recently, Greg Welborn of First Financial Consulting was asked to comment on the use of 529 Plans Vs. Roths.

Q: The father of my two godchildren, who are 10 and 11, converted their 529 plans into Roth IRAs. How is that possible without a penalty? Is a Roth better than a 529 plan and when the kids go to college and use the money, will it be penalty-free?

Check out our blog articles to find out more.

First Financial Consulting Takes Part In A Unique "Today Show" Event

 First Financial Consulting of Pasadena, California assisted NBC's The Today Show in providing a unique opportunity for American women to call a toll-free phone line and receive free financial planning advice. In selecting financial advisors to participate in their "Money for Women" series, NBC’s Today Show looked to the National Association of Personal Financial Advisors (NAPFA), the nation’s leading association of fee-only financial advisors.

Scott Sommers and Greg Welborn, partners at First Financial Consulting, served as west-coast representatives and fielded calls from viewers across the country. "We were thrilled that The Today Show, the top rated morning news and information program in the country, would ask us to help give thousands of women telephone access to free counseling from financial planning experts" said Greg Welborn. "When we saw how many people really appreciated a chance to ask an expert, it made the cost of the hotline money well spent. One of our major goals is to educate the public on financial planning matters."

Scott Sommers added, "The questions ranged from whether or not someone should refinance a mortgage to how to invest a recent inheritance." The economy and stock market were on the list of concerns, but there were also quite a few questions about insurance and how to pick a financial advisor. Sommers continued, "So much recent news about Wall Street firms and big accounting firms has been negative, I think most of the callers were looking for an unbiased educated opinion. We really enjoyed helping out with the calls."

The Money for Women series highlighted the five biggest financial concerns facing women based on a survey of Money Magazine readers. Today Show financial editor and Money Magazine reporter, Jean Chatzky, chose NAPFA for the issue of eroding retirement savings. "I've felt comfortable for many, many years recommending NAPFA members to the readers of Money Magazine and viewers of the Today Show. This project was a great opportunity to give people a chance to talk to a highly educated Fee-Only comprehensive financial advisor."

First Financial Consulting Teams Up With Kiplinger's Personal Finance Magazine

First Financial Consulting of Pasadena, California participated in Kiplinger's Jump-Start Your Retirement Planning Days to provide consumers with free financial advice during their 4th annual telethon.

Since 2004, approximately 26,000 consumers have benefited from the free hotline project, and now Kiplinger's Personal Finance magazine has asked First Financial Consulting, along with other key financial advisors across the country, to join this worthwhile project.

"Jump-Start Your Retirement Planning Days is a chance for consumers to get free financial advice by telephone on topics of their choice from some of the nation's top financial advisors," explained Greg Welborn, a partner at First Financial Consulting. "It is exciting to be in a position to help people better understand their financial situation," Greg further explained. "My partner, Scott Sommers, and I have participated in similar events with NBC's Today Show, and it's always gratifying to be able to help people with some of their most pressing financial questions. We expect to have similar success with Kiplinger's Personal Finance project and are honored that they selected First Financial Consulting. We have always strived to provide the highest quality objective advice to our clients, and this feels like a confirmation of the success of that effort."

Kiplinger's Personal Finance magazine has been providing millions of Americans with down-to-earth information on financial matters since 1947. Along with Kiplinger.com, it covers issues such as saving, investing, taxes, credit, homeownership, college funding, and retirement preparedness. First Financial Consulting has been providing personal financial advice since 1976 and has become a leader in providing Fee-only comprehensive financial planning and investment consulting to clients in California, as well as to clients in other states, Europe, Asia and Africa.



First Financial Consulting is a pioneer in fee-only advisory services. Based in the heart of Pasadena, California, we provide comprehensive financial planning and investment consulting services and have an extensive history of helping our clients achieve their financial goals.

Our clients face a wide variety of situations. Some trust our guidance to manage significant wealth, while others find themselves at other stages of wealth accumulation.

We help our clients build, manage, and preserve their wealth, and are committed to putting our clients’ interests first. From our beginnings over 35 years ago, we have been dedicated to the highest standards of trust, integrity, and service.

In all the areas of our work with clients, we seek to educate as well as to advise. We have found that the best financial decisions are made when clients have participated in developing their financial plan, understand the reasons behind key recommendations and ultimately have confidence that they are financially prepared for the future.

Put simply, our success is not measured by performance statistics but rather by the success of our clients in achieving their financial goals.

In many ways, I see your role as one of a "professional financial trainer." Just as some of us need encouragement, discipline and accountability when getting into shape physically, the same can be said for many who need to get themselves in shape financially.  I believe the service you provide fills a much needed void in many people's lives.

R.C., Attorney

It is not often that you work with an individual who is not a shareholder or employee, but who nonetheless works as tirelessly for your success as if he were.  That is exactly how I would characterize the efforts of the people at First Financial Consulting. 

S. Wade, Businessman

Today's complicated financial times require an ever-increasing sophistication to protect and further develop what in many cases has taken a lifetime to build. First Financial is a valuable resource in meeting these demands.

T.A., Vice President, Citicorp

Your professional abilities are made stronger as a result of your very deep personal commitment to other people. "Integrity" is an overused word, and I wonder if people really understand what it means;  perhaps they ought to meet you.

M. Rountree, Community Leader

In addition to their tireless efforts, I was impressed with First Financial's ability to identify the critical issues facing me and to develop a specific solution to address them.  They not only developed the plan but stayed around to make sure it was done right.

S. Wade, Businessman

As a psychotherapist, I see the affects of financial stress on individuals, many of whom seemingly "have it all together."  It creates conflicts in marriage, immobilizes many from performing well in their jobs, and often erodes people's health.  I value your commitment to helping couples and families establish some financial guidelines and structure.

C.U., Psychotherapist