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Wealth Management System (Monitoring)
One of our key service differentiators is our Wealth Management System (WMS), a series of phone reviews designed to ensure at least one of the five key areas of wealth management is being examined quarterly: Investment Planning, Risk Management, Cash Flow/Income Tax Planning, Liability Management and Estate Planning. The WMS provides a systemized method for monitoring progress toward established goals. Why is this important? Because implementation is key. There is a marked difference between knowing you need to get something done and expending the energy and effort toward actually seeing it through. That's why it is important to have a partner to motivate you and to help hold you accountable. What's more, life happens and changes occur that could impact a financial plan. On-going monitoring allows us to proactively manage the affects of changes in our client’s life. The WMS, which includes an annual plan review, is designed to uncover any gaps in planning and to help stay on top of changing circumstances.
The Five Key Areas of Wealth Management Include:
One of these key areas is being examined quarterly.
Goals-Based Investment Planning
Investment planning is about defining your objectives, determining your level of risk, and designing and implementing a disciplined investment strategy. (Goals-based investment planning includes objectives like retirement planning and education planning.)
Risk Management/Asset Protection
Risk management serves to protect your assets and provide for loved ones in the case of death, disability or catastrophe.
Cash Flow/Income Tax Planning
By evaluating your existing cash flow we can determine if you have the necessary funds to meet your current obligations, sustain your lifestyle, and meet future goals. We will also spend time reviewing your taxes to be sure that you are paying the minimum required and to see if there are any other areas of planning that we can incorporate.
Liability Management
Liability management is about controlling your money. We can determine whether your debt is manageable given your income, net worth and other financial goals.
Estate Planning
As you plan for the ultimate transfer of assets to heirs, we need to make sure your will matches your wealth transfer wishes by reviewing your title to property and the beneficiary designations on your accounts; discuss gifting strategies; and explore powers of attorney, health care declarations and living wills.
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