Personal Wealth Management
At every stage of life you have financial questions, issues and concerns. Our job is to help you address them.
Based on your needs and goals, Personal Wealth Management issues may include:
- Cash flow management: How much are you saving and is it enough?
- Insurance needs: What types of insurance do you need and how much?
- Income tax management: Are you taking advantage of strategies to minimize your income taxes? Is your investment portfolio and withdrawal strategy tax efficient?
- Education funding: What are your goals? Are you saving enough? What is the best way to save and invest?
- Investment management: Are your investment return goals and risk tolerance in sync?
- Retirement planning: Are you saving enough for retirement? What is your current savings ratio? Can you afford to retire? How much is enough? How much can you spend and not outlive your money?
- Estate planning: Who will make important financial decisions for you and act on your behalf in the event of a change in health or an accident? Do you have a living will? Who will inherit your money?
What to Expect
With our Personal Wealth Management services, you’ll receive the following financial planning services:
- An initial Personal Financial Goal Plan or Retirement Projection, updated every three to five years or as needed. (Optional depending on need).
- An Annual Net Worth Report, including analysis.
- An Annual Cash Flow Report with sources and uses of cash, including a savings ratio or portfolio withdrawal rate and other analysis, including a five-year history trend.
- An Annual Income Tax Summary and analysis.
- Initial preparation of and periodic updates for a Personal Financial Planning binder, a comprehensive record of personal and financial planning information.
- Comprehensive personal financial planning, as requested, including cash flow, education planning, insurance needs, employee benefit plan participation, income tax management, charitable giving and estate planning consultations.
Investment Management Services
With our Personal Wealth Management services, you’ll receive the following investment management services:
- An initial review of a client education binder, “Investments 101.”
- Completion of a Client Investment Policy Statement identifying investment needs, goals, risk tolerance and performance expectations—updated annually.
- Preparation of a written Investment Portfolio Proposal for approval and implementation and onging management thereafter.
- Preparation of all brokerage account applications and transfer forms and subsequent service change forms.
- Monthly Quick Summary Report with current portfolio data and market values.
- Monthly Portfolio Performance Report showing one-month, year-to-date and last 12-month total return, including deposits and withdrawals for each time period. This report will start after your first full 12-month period and annual investment review is done.
- Quarterly Custom Portfolio Report and personal review.
- Annual Investment Review with portfolio and asset class performance calculations since inception, last 12 months and interim periods. Includes Investment Policy Update. The quarterly and annual report cycles begin after the portfolio is initially invested.
- For taxable accounts, a year-end realized gains and losses report with date acquired and cost basis information needed for preparation of your income tax returns and capital gain distributions for estimated tax payments, if needed.
- Monthly newsletter
- Review of annual IRA funding or IRA required minimum distributions.
- Review of using custodian for minor or Section 529 college savings accounts.
- Review of making “in-kind” gifts of stocks or fund shares to charities to preserve cash and transfer away capital gains income tax liability.
- Integration of your investment portfolio within a comprehensive financial plan.
As you can see, Personal Wealth Management encompasses many issues. Each client is in a different “stage of life.” We proactively help you think ahead. We lead you in every step of the process and regularly review your situation as changes occur. Personal Wealth Management is an ongoing process and the service used by over 90% of our clients.