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Having been in the financial advisory industry for nearly 10 years, Scott Nevitt knows that it is important to be financially stable, especially in a down economy. That’s why he opened his own asset management firm in March.

“The economy has definitely put things back in perspective for people,” he said. “It’s amazing how in good markets people kind of lose track of the basics, of what it takes to be financially stable and sound. And with the recent downturn, I have seen a lot more clients that are desiring more of a comprehensive picture.”

Nevitt, who has been working on the launch of his firm, CORE Asset Management, for more than a year, said his main goal is providing clients a comprehensive financial picture, rather than just providing niche services. In his past careers, Nevitt said, he was only able to focus on one area of a client’s financial portfolio; he compared this with going to a doctor and not disclosing your entire medical history.

“It’s just like any physician, where if you go in and you don’t give your full history, then it’s hard for the doctor to completely diagnose or help provide a solution for you to get better, and that’s the same type of service I am trying to put forth at CORE.”

Also, Nevitt believes that people who want to create financial stability must set goals, whether it’s for retirement or purchasing a home.

“As with anything, if you don’t set your goals, if you don’t write them down, if you don’t have them in front of you, the likelihood of those being accomplished are a lot less,” he said. “So my goal, as an adviser, is to put their goals in front of them.”

Currently, CORE consists of Nevitt and one part-time employee, but Nevitt said he plans to increase the size of the firm within the next year. In the future, he would like to add another financial adviser.

“We wanted to keep overhead small and build the rest over time,” he said. “The concept and what I am trying to build is going to be sustainable if we do it correctly.”