Wealth Management

Strategies for complex issues

Wealth management planning pursues answers to those tough economic questions and decisions that come with modern living. We divide these issues into six modules- each focusing on a different area of your financial life.

• Accumulation addresses your individual needs, asset allocation, and the suitability of different types of securities in light of your goals and risk tolerance. Accumulation strategies ensure that your investment portfolio remains closely aligned with your overall financial goals as you continue to build your asset base

• Risk Management works to minimize financial and other losses potentially associated with risks to your assets, business, or health. Some examples of risks are personal and professional liability, business ownership, property loss, and catastrophic illness or disability. Your first line of defense is to identify your sources of risk and then to avoid or minimize the major exposures

• Taxation considers the tax implications of individual, investment, or business decisions, usually with the goal of minimizing tax liability. While decisions are rarely made solely on their tax impact, you should have a working knowledge of the income or estate tax issues and costs involved.

• Business Planning focuses on issues specific to business owners and shareholders. For most business owners, the business is their most significant asset, and the financial success of that business has an immediate impact on the economic security of their family. Without proper planning, you may have difficulty tapping the value of your business to support your retirement, or your family may lose the value of the business at your death.

• Retirement Planning involves evaluating your current financial status and creating an accumulation strategy that will help to ensure your desired retirement lifestyle. Because your retirement years can span decades, retirement planning generally dominates other financial goals. A successful plan put into place during the wealth-building lifespan should address ways to maximize growth with consideration to tax- efficient distributions, as well as how to leave retirement assets to the next generation.

• Estate Planning creates a master plan for the management of your property during life and the distribution of that property at death. For most people, estate planning gives you more control over your assets during your lifetime, provides care when you are disabled, and allows for an efficient low-cost transfer of wealth at your death.

While not all of these modules will apply to your situation, we believe that identifying and addressing those that are pertinent will help you to better manage your financial future.