We have found that there are 8 Wealth Management Issues that are most important to our clients and their families. Each of these issues is interrelated and, in fact, acts like a balancing scale. If you make an adjustment to one issue, it affects the others. A properly structured financial plan enables you to face any financial challenge that may present itself during each stage of your life. Through the financial planning process, we help you assess financial need, develop strategies to pursue goals and strengthen your financial future.
How your money is actually managed.
There are three risks to you as an investor: risk of improper allocation* (meaning not having money invested in the right pieces of the pie), not rebalancing regularly to make sure this allocation is right, overlap or over concentration which means owning too much of the same thing.
Another way to say insurance planning or protection planning.
An efficiency study should be conducted on currently held policies. This helps to ensure policies are appropriate and fairly priced for your specific needs. We also recommend disability policies be reviewed so they can grow with need and are occupation specific. Reviews are invaluable in identifying risk gaps that should be addressed.
Most people carry debt.
We can help you formulate a strategic plan to reduce debt and manage cash flow.
Intentional planning can have a big impact.
The best chance of building and protecting your financial future comes from planning early for retirement. No one wants to outlive their income in retirement. We can help you see what your retirement needs look like. Although we can't be exact we can provide a pretty good idea of where you need to be and how to plan accordingly.
Options available to parents, grandparents and others.
We can recommend various options to help fund education for your children, grandkids, nieces, or nephews.
A full concierge of services to provide financial oversight.
May include financial statements, payroll, review and implementation of budget cash flow, hiring compensations, introductions to local resources (bankers, attorney, property and liability insurance providers, realtors), even the negotiation of work contracts. The goal of business planning is to help you keep as much money as possible and guide you on what to do with it once you earn it.
The estate documents you should have in place.
Is your will current, do you have a health care directive and durable power of attorney? We can recommend an attorney and remain involved in the process to ensure timely completion.
The unforeseen areas of your financial life.
It might be taking care of parents, planning a wedding, a big trip, or a purchase. It is planning for something that doesn't fit in the 7 areas above.
A properly structured financial plan enables you to face any financial challenge that may present itself during each stage of your life. Through the financial planning process we help you assess financial need, develop strategies to pursue goals, and strengthen your financial future using the 8 Wealth Management Issues.
THE BIG VALUE: all 8 of these issues have a tax consequence. Working with us will help you understand the consequences and plan accordingly.
*Asset allocation/ diversification does not assure or guarantee better performance/profit and cannot eliminate the risk of investment losses in declining markets.
Investment and financial planning services are offered by Terry Martin and Brian Martin through their affiliation with Avantax.