Financial Planning
When we began writing plans in 1984, Financial Planning was just a fledgling profession. Financial professionals were investment salespeople in stock brokerage, mutual funds, insurance, limited partnerships and annuities. The labor required to analyze entire portfolios, populate them across product categories and apply meaningful asset allocation was excessive. The costs involved in creating projections and monte carlo simulations made true financial planning inaccessible to all but the super wealthy. Today, the resources available to true financial planners are vastly improved and we strive to marry the best technological advancements with our time-proven investment philosophy and knowledge of financial markets. Our approach ensures our clients' plans are complete, achievable, and map to their unique needs and goals.
Wealth Management
High net-worth investors benefit from a holistic approach in which a single advisory firm coordinates the various specialists needed to manage their financial affairs. A wealth manager uses the services of custodians, investment firms, accountants, insurance agents, estate planning attorneys, lenders, and others as needed. The team of professionals, under the direction of a wealth manager, creates advanced solutions that take into account all aspects of a client's financial situation.
Retirement Planning, IRA Rollovers, and Qualified Plans
A financial plan addresses major life goals, such as funding retirement, higher education for children, a major asset purchase, relief from unnecessary taxation, and protection from catastrophic loss. Among these goals, the retirement planning goal is often the most formidable. There are various traditional and Roth accounts designed for retirement funding including IRAs, Solo 401(k)s, annuities, and employer plans such as 401(k)s, 403(b)s, SIMPLE plans, pension plans, and deferred compensation plans (457). Common strategies include IRA rollovers, reverse rollovers, Roth IRA conversions, backdoor Roth IRA contributions, and optimal Social Security claiming strategies.
401(k) Management
Financial Plan is a Registered Investment Advisor providing 401(k) advice and management to corporate retirement plans. Our unique process is engineered to protect plan fiduciaries and give plan participants the greatest opportunities for success. This approach employs the following principles and is designed to OFFSET the problems inherent in the 401(k) industry.
Business Planning
While the ideal business planner may be a person with detailed knowledge gained through long experience within that particular business or industry, a wealth manager may have a role to play as well. A wealth advisor will be equipped to dispense advice regarding the advisability and structuring of a purchase or sale, the business form to be used, and structuring corporate retirement plans. As a note on real estate: the purchase and management of investment real estate is a business itself, complete with business assets (the real estate), customers (tenants), business income (rent), and expenses (maintenance, repairs, taxes, and management).
Estate Planning
Basic estate planning involves decision making regarding ownership and heirs. Decisions are formalized in documents such as wills, trusts, and powers of attorney. Common estate plan goals include probate avoidance, reduction of potential estate tax, determining optimal gifting strategies, charitable planning, and communicating end-of-life medical wishes. We work alongside Estate Planning Attorneys and heirs to ensure our clients' estates are well-tended, now and in the future.
