The wealth management firm has added a number of capabilities to its repertoire over the last 2 1/2 years, Managing Partner Michael Fessler said. The firm specializes in financial planning, bookkeeping, filing taxes and managing retirement and investment accounts, he said.
"We have all of these people on our team who can work for business owners and clients,” Fessler said. “Our goal is to change the way people look at financial planners and accountants.”
A former certified public accountant at a large firm, Fessler said he became fed up with the limitations placed on his ability to help clients. He was only allowed to process clients’ returns and was unable to give helpful advice, he said.
“It felt like I was always the bearer of bad news. As a preparer, a lot of times, the mistakes have already been made,” Fessler said. “It was difficult. It felt like I was only doing part of the job.”
By starting his own firm, Fessler said he now has the freedom to take a comprehensive approach to financial assistance for clients.
At Westlake, a team of CPAs, bookkeepers and management advisers has the ability to take a “deep dive” into clients’ accounts to help them take advantage of as many tax breaks and other opportunities as possible, Fessler said.
“They don’t teach this in school, and business owners especially ... can take that [financial] piece off their plate,” he said. “They know we’re watching their bottom line, and they can go do what they do best.”
Westlake Wealth Management
310 S. Oak St., Ste. 208, Roanoke
Hours: Mon.-Fri. 8 a.m.-4 p.m.; Sat. by appointment only; closed Sun.