Hey there! I’m Jay Fedak, owner of Fedak Financial Planning, the only truly independent, fee-only fiduciary firm located in New Milford, CT. My professional journey began far from the world of finance, at Southern Connecticut State University where I pursued a path toward healthcare, never really considering doing anything else.

After completing my undergraduate degree, my next goal was to become a Physician Assistant. I was accepted to a small startup program in the Bronx, NY, that allowed me to commute from Connecticut. Going to school and working in the inner city was really a life-changing experience. It opened my eyes to the realities many people face—living day to day with such limited resources and financial pressures, in an environment ripe with mental health issues and addiction.

Those memories will always stay with me. It was far more than just a medical education. In retrospect, it likely provided a strong influence on my need to prepare myself financially for later in life although; to be honest, I wasn’t very good at it in the beginning. After two and a half years of challenging work (and horrible traffic) I managed to finish up the program, pass the PA boards and complete my quest receiving my PA certification. 

My love of sports and fitness led me to accept a job working in orthopedics in Wilmington, NC. The plan was to escape the cold weather of the northeast. It also introduced me to an entirely different part of the country, experiencing the culture of the southeast coast. Orthopedics seemed like an assembly line at times, but the small southern communities we worked with helped me understand that a slower pace allowed me to really connect with people. It was just as important as the medical aspect of what we did. 

I ended up moving back up north a couple of years later for a variety of reasons, and continued working in orthopedics in Danbury, CT for a few more years. Over time, I got to know several PAs who worked in the Danbury Hospital ER, and they told me they needed more help. The pay and benefits were certainly better. The constant, fast-paced action was also enticing. So, I made the jump. While there certainly was a large learning curve, it proved to be very satisfying, and I again had more incredible learning experiences in a totally different environment. 

I also had many more encounters with folks falling on hard financial times due to sudden life changes from injury or illness. Aside from the obvious concerns regarding their current health status, the next biggest concern was how they would survive financially. It really drove home the value of financially preparing for whatever life has in store for us.

After a few years of the ER’s long hours and around-the-clock shift changes, it began to wear on me. COVID only accelerated that, and I found myself moving back and forth between the ER and urgent care toward the latter part of my medical career.

After close to two decades in healthcare my thoughts began drifting toward retirement, and how I would manage it both personally and financially. In the ER I saw repeatedly how failing to plan can play out. I knew I needed to learn more, so I picked up a couple of really great books about investing by famed investor/fund manager Peter Lynch and was instantly hooked. It provoked me to keep reading and eventually led to taking the Series 65 securities licensing exam just to see what would happen.

After passing and including it on my LinkedIn profile, I was pleasantly surprised when I was contacted by Guy Penn, founder of Core Planning, a Registered Investment Advisor (RIA) located outside of St. Louis. He came across my profile and was interested in speaking to me about a position with his firm. I remember thinking, how cool is that? I really didn’t have a specific goal in mind when I took the test, and yet here I was facing a decision to join the ranks of a profession that I never thought would interest me. It was a great opportunity to get started in the field, and I would be able to work as a financial advisor both part-time and remotely. I happily accepted and it turned out to be a great decision.

Soon I had several medical colleagues as clients and gained valuable experience assisting healthcare professionals—including MDs, RNs, PAs, APRNs, and therapists—navigate various financial decisions, as well as assisting in rollovers of their 401(k)s left behind at prior jobs into IRAs with much better investment options. I was still helping people, but in a much different capacity.

I began to feel a real sense of joy and satisfaction assisting clients with financial preparation for their future. So much so that I reduced my shifts and took a leap of faith, enrolling in the Boston Institute of Finance in pursuit of becoming a Certified Financial Planner®. One year later, I completed the program and passed the certification exam. It was one of those moments in life where you kind of step back and go: Yes! Then… wait, how the heck did I get here? It showed me that while we never know how life may play out, when following your passions things do tend to fall into place.  

Next came the difficult decision on my medical career. After more than two decades as a PA, I had decided it was time to move on. I was closing one chapter in my life but was very excited to start the next one: launching Fedak Financial Planning. 

I am still working with the same wonderful folks at Core Planning, now as an independent, fee-only financial planner. This allows me the freedom and flexibility to serve my clients with personalized financial advice that is free from the burden of quotas, sales incentives, or commissions and always puts my clients’ best interests first. Core Planning has been right there with me the entire way. I consider Guy and all of my fellow “Core” advisors to be such an important part of my journey here. Core Planning provides regulatory compliance, shared resources, operational support and professional collaboration as well as much needed encouragement and camaraderie. I am truly grateful for all of their help. 

So here I am, ready at the helm! I am very much looking forward to helping folks in my local community as well as those who reach out from elsewhere with all things financial. There are many nuances, rules, and strategies most people aren’t aware of that can make a meaningful difference over time. You may be doing all the right things and having a professional review can help to reinforce that you’re on the correct path.

On the other hand, you may be making mistakes due to lack of knowledge or experience that if discovered, could really get you where you want to go more quickly and missing them could end up being quite costly. Many advisors say the most common thing they hear from their clients is: “Why didn’t I do this sooner?” You don’t have to be that person! Call me or schedule time on my calendar. The initial conversation is completely free, and it may lead to preventing years of financial regret!