What’s the Difference Between Financial Planning and Wealth Management?

Once your financial plan is in place, we use technology to monitor your progress on a nightly basis to make sure that what we are planning on…is actually occurring! We aren’t just focused on portfolio values; you aren’t a pie chart. This data updates the plan and various scenarios to identify opportunities and vulnerabilities with alerts and alarms to help keep you on track.

Budgets sound so restrictive, yet it is important to define your cash flow needs and wants. Life is about choices and a good spending plan balances current needs with future needs – making your financial objectives attainable.

We analyze your tax situation each year to make proactive recommendations. We bring awareness to tax deductions and advise on income tax strategies such as tax loss harvesting, back door Roth IRAs and optimizing your employee benefits.

All too often, we find clients have accounts located in many places, and don’t realize that there is significant overlap, gaps, or both. Comprehensive financial planning helps to understand what it truly looks like and the potential impact of those decisions on goals and objectives. A well constructed portfolio is not only diverse in asset allocation but is also efficient and streamlined to create a realistic portfolio return that is consistent with your actual risk capacity. While risk tolerance is very important, your capacity to take risk is even more so. This needs to be measured.

Retirement can be an exhilarating time – the promise of freedom from early morning commutes, demanding schedules and tough bosses. It can also be scary when everything you have accumulated now has to be your income for the rest of your life.

Often loss is not all at once. Assets could be depleted slowly over time due to an illness, a disability, or even a long-term care need, leaving a healthy spouse without the funds they need to live. The first step is to see if there is exposure. Some have enough money set aside to cover life events, while others may prefer to transfer this risk to a company.

Thanks to a law passed several years ago, estate planning today is becoming less about avoiding estate taxes and more about distributing assets to your family. If the tax law sunsets as scheduled in 2025, this is about to change.

Chances are you’ve worked your entire life to retire in comfort. To us, that is an example of a standard objective, and you also might have hopes and dreams that might seem like a stretch right now. Let’s talk about those too and see what is realistic and achievable.