Barrington Financial Advisors began as a dream to provide quality financial guidance that would enrich the lives of our clients. Through hard work and sound planning, our company has evolved into the premier financial planning firm you see today.
In June of 1972, William C. Heath left the accounting firm of Price Waterhouse & Co. to create his own firm, preparing income tax returns and financial statements for individuals and small businesses. As a sole practitioner, Heath specialized in accounting systems for small businesses, while consulting with the owners on tax planning strategies such as incorporation, qualified retirement plans, compensation planning, succession planning and financial performance management.
As clients grew in net worth, they were faced with the problems of wealth management and wealth transfer. The firm accommodated these needs by beginning to prepare estate plans while managing the assets owned by our clients. Out of this evolution grew the principles of net worth management, on which Barrington Financial Advisors is founded.
From this humble beginning, the concept of enriching lives rather than merely managing money was born. In January 1976 the firm was incorporated as William C. Heath & Associates, Inc., a Texas corporation. Financial planning was a fledgling industry at that time. The industry had little structure and most of the planning was done on a yellow pad.
Bill Heath became an industry pioneer by developing a holistic financial planning process for the purpose of assisting clients to accumulate and conserve capital in order to retire, pay less taxes, educate their children, and reduce investment and inflation risk. In 1980 he became one of the early candidates to receive certification in financial planning – CERTIFIED FINANCIAL PLANNER™ (CFP®).
In 1984 the company was renamed Center for Financial Planning in order to better describe our services. It was the mission of the firm to provide one-stop financial services to upscale clients across America. Marilyn Burell joined the firm in January 1984 as our primary plan writer and became a shareholder in the firm the following year. She was president and a senior partner in the firm, but retired in January 2003.
Continuing to pursue our dream of enriching the lives of clients through effective financial planning and net worth management, we made a significant change during 1987 in the financial planning process we follow. After writing an initial financial plan in the first year of a new client engagement, quarterly written reports were added to review and monitor the client’s financial affairs over time. These reports became known as Asset Management Advisory (AMA) Reports. Our fee structure changed also, from hourly rates to a percentage of assets. The AMA reports each quarter focused upon different segments of the traditional financial plan in addition to an investment performance report. Early in 1990, we changed the name to Net Worth Management Reports; that name more clearly states the objective of quarterly reporting and we believe it distinguished our firm from the many financial services products companies who do not perform the same holistic planning and ongoing quarterly reporting for which Barrington is known.
Bill Heath serves as marketing and financial officer while overseeing the plan-writing department.
Barrington Financial Advisors, Inc., is registered with the Securities and Exchange Commission and the firm’s ADV can be reviewed at the following website:
The company has been in a growth mode since 1986. During this time, we spun off the accounting and tax practice while focusing upon the personal financial planning business. We have added specialists in the fields of data processing, information services, insurance, and word processing completing our professional staff. Our mission has not changed; we are still actively pursuing the goal of enriching our clients’ lives. Turning your dreams into reality is our focus.
We believe that God has blessed us and during those difficult times, we believe He made more payrolls than we did. We continue to strive to be good stewards as we continue to grow the firm.