As an individual or a couple
Wealth management helps you make possible the future you want. It works by executing a series of coordinated strategies for the four phases of your financial life. Here are the four phases.
1. Wealth accumulation: building a solid financial base sufficient to achieve your life goals.
2. Wealth preservation: protecting what you accumulate from unexpected expenses, inflation, market declines, and taxes.
3. Tax-advantaged wealth distribution in retirement: enhancing your assets by minimizing taxes and allowing you to distribute your assets the way you want.
4. Tax-advantaged wealth distribution at death: planning to leave your assets to whom you want, when you want, at the lowest possible cost.
And here are the six coordinated strategies we use when managing your wealth across the four phases.
1. Accumulation strategies help ensure that the suitability, asset allocation, and risk tolerance of your investment portfolio keep it closely aligned with your financial goals.
2. Risk management strategies help minimize losses from risks like personal and professional liability, business ownership, property loss, and catastrophic illness or disability.
3. Tax strategies consider the tax implications of individual, investment, or business decisions, usually with the goal of minimizing tax liability.
4. Business planning strategies focus on issues specific to business owners and shareholders. For most business owners, the business is their most significant asset, and its financial success affects the economic security of their family. Planning helps business owners tap the value of the business to support their retirement and protect its value at their death.
5. Retirement planning strategies help accumulate the right amount of assets to ensure a desired retirement lifestyle. Retirement can span decades, so retirement planning often dominates other financial goals, maximizing growth and tax-efficient distributions while planning to leave assets to the next generation.
6. Estate planning strategies create a master plan for the management of assets during life, care during disability, and efficient, low-cost wealth transfer at death.
It’s all written down, but there’s nothing automatic about our process and not all these strategies will apply to you.
So we start our relationship with wealth management clients by talking together. It’s always time well spent; there’s no such thing as too much information because we’re planning your future. We want to know everything about your situation, financial and otherwise, and everything about your goals, financial and otherwise.
Then we write a plan and talk some more until you’re happy with it. Then we execute it. Every year we review your results and your plan to make sure your assets are working as efficiently as possible. And we review your goals to see how they’re changing and how we should change your plan to keep pace. And so on, year after year.