Wealth Management & Financial Planning
Wealth Management & Financial Planning
Wherever you are in life, I’ll help you plan to reach your goals.
You can’t get to your destination if you don’t have a map. That’s true generally but it also works as a metaphor for your financial life.
When I sit down with you, I ask, “Where do you want to go?” That’s the most important question. It tells me where you are in your life. It lets me know, “Are they trying to accumulate wealth or distribute it throughout their retirement?” It tells me your risk tolerances.
Once I know your goals, and I know what state your finances are in currently, I can create a plan for you and present our recommendations. There’s rarely one way to get from Point A to Point B. I provide you with the pros and cons for scenarios; I help you make a comprehensive wealth management plan. Once you’ve heard our proposals, you make the final decision on what I put into practice, together.
I don’t disappear. Once we have your plan, I’ll continue to help you stick to it, and if the need arises, I’ll help you reevaluate your needs. I think investing advice still means something to clients—and I personally believe advisers do add value to plans and portfolios. Nothing can protect an individual completely from market volatility, but I align my clients’ portfolios with their risk tolerances to ensure that they’re comfortable with their wealth management choices. It’s all about listening, planning, executing, and monitoring the plan in place in partnership with the people we serve.
Research¹ has consistently found the best way to maximize returns across every level of risk is to combine assets and allow individual securities to generate returns. Assets fall under three broad categories—stocks, and cash equivalents or money markets—but could also include property or real estate, commodities, futures, and cryptocurrencies, to name a few.² Once I understand a situation, I can begin to construct a plan, using different asset classes and instruments, products and services, to deliver a holistic strategy.
What I recommend to a client depends on that client’s specific, individual needs. There is no such thing as a one-size-fits-all approach in wealth management.
¹ Markowitz, 1952; Sharpe, 1964; Brinson, Hood & Beebower, 1986; Brinson, Singer & Beebower, 1991; Ibbotson & Kaplan, 2000.
² Akhilesh Ganti, “Asset Class Definition,” Investopedia, accessed February 27, 2020, https://www.investopedia.com/terms/a/assetclasses.asp
Retirement Income Planning
Are you sure you won’t outlive your income in retirement?
No two careers follow the same trajectory. Following that, no two retirements are quite the same, either. Everyone will have different goals, needs, and strategies.
I take the time to listen to your needs and formulate a plan to take you from the accumulation phase of your life to the distribution phase. According to one study, 43% of people in America aren’t afraid of being bored, unable to travel, or dying in retirement—their #1 fear is outliving their money.¹ That number jumps to 60% when you look at Baby Boomers. These fears, according to the data, are justified: People in their 50s have only saved an average of $117,000 for retirement. Experts say a “healthy” retirement savings account would have something like six times a person’s current salary.¹ This disparity, to say the least, is striking.
Whatever your plan, and whatever your retirement goals, I could help you put together a retirement income plan. I’m ready to listen; I’m ready to lend my experience.
¹ Catey Hill, “Older People Fear This More than Death,” MarketWatch, accessed July 24, 2019, https://www.marketwatch.com/story/older-people-fear-this-more-than-death-2016-07-18.
Insurance Strategies
Are you protecting the things that matter most in your life?
Insurance is a term people often use but not one they always understand. For customers, insurance companies offer a contract (known as a policy) whereby an individual or corporation receives a promise of reimbursement against possible losses in exchange for a premium. Insurance companies pool risk this way; that means that, in the event an insurance company has to pay out a claim, the company is still bringing in revenue.¹
There are several types of insurance. Some of them—like life insurance—are straightforward. Yet, even in life insurance, there are many things to consider, like term vs. whole life. Other types of insurance, such as fixed indexed annuity contracts, might require even more explanation. You can buy insurance for your car, home, boat, or business. You can also buy insurance for things like needing long-term care in retirement, liability insurance for your business, disability insurance for your profession, and Medicare gap coverage.
People often talk about insurance as “protection,” but it’s really a form of risk mitigation. It ensures that, no matter what twists and turns come with life, clients don’t face their risks flat-footed. Nothing can protect you from risk. However, with a thoughtful, proactive, and detailed insurance plan (as part of a comprehensive financial plan), you may find yourself with more options than you would have had without insurance.
¹ “Insurance: The Complete Guide,” Investopedia, accessed February 27, 2020, https://www.investopedia.com/insurance-4427716.
