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Financial Planning

We provide financial planning services on topics such as retirement planning, risk management, college savings, cash flow, debt management, work benefits, and estate and incapacity planning.

Financial Planning is a comprehensive evaluation of a client’s current and future financial state using currently known variables to predict future cash flows, asset values and withdrawal plans.  The key defining aspect of financial planning is that through the process, all questions, information, and analysis will be considered as it impacts and is impacted by the entire financial and life situation of the client.  Clients purchasing this service will receive a written or an electronic report, providing them a detailed financial plan designed to achieve their stated financial goals and objectives.

In general, the financial plan will address many areas of concern, which will be covered based upon client direction.  The client and advisor will work together to select the specific coverage areas which may include, but are not limited to:

Cash Flow and Debt Management: We will conduct a review of the clients income and expenses to determine their surplus or deficit. We will also advise on prioritizing how any surplus should be used or how to reduce expenses if they exceed income.  Advice may also be provided on which debts to pay off first based on factors such as the interest rate of the debt and any income tax ramifications.  We may also recommend what we believe to be an appropriate cash reserve that should be considered for emergencies and other financial goals, along with a review of accounts (such as money market funds) for such reserves, plus strategies to save desired amounts.

Education Savings: These services include projecting the amount that will be needed to achieve college or other post-secondary education funding goals, along with advice on ways for you to save the desired amount.  Recommendations as to savings strategies are included, and, if needed, we will review your financial picture as it relates to eligibility for financial aid or the best way to contribute to the education of grandchildren as well (if appropriate).

Employee Benefits Optimization: Through this service offering we will review and analyzes whether you, as an employee, are taking the maximum advantage of your employee benefits.  If you are a business owner, we will consider and/or recommend the various benefit programs that can be structured to meet the clients business and personal retirement goals.

Estate Planning: This offering includes an analysis of your exposure to estate taxes and your current estate plan, which may include whether you have a will, powers of attorney, trusts, and other related documents.  Our advice will includes ways for you to minimize or avoid future estate taxes by implementing appropriate estate planning strategies such as the use of applicable trusts.

We always recommend that clients consult with a qualified attorney as they initiate, update, or complete estate-planning activities.  We may provide clients with contact information for attorneys who specialize in estate planning when they wish to hire an attorney for such purposes.  From time‐to‐time, we will participate in meetings or phone calls between clients and their attorneys with prior approval or request.

Financial Goals: We help clients identify financial goals and develop a plan to reach them.  We will identify what you plan to accomplish, what resources you will need to make it happen, how much time you will need to reach the goal, and how much you should budget to achieve your goals.

Insurance: Under this service offering we will review all existing insurance policies to ensure the client has proper coverage for life, health, disability, and long-term care requirements.

Investment Analysis: Our investment analysis services involve developing an asset allocation strategy to meet a clients’ financial goals and risk tolerance; providing information on investment vehicles and strategies; reviewing employee stock options, as well as assisting clients in establishing their own investment accounts at selected broker/dealers or custodians.

Retirement Planning: Our retirement planning services include projections of your likelihood of achieving your financial goals, focusing on financial independence as the primary objective.  For situations where projections show less than the desired results, we may make recommendations, including those that may impact the original projections by adjusting certain variables (i.e. working longer, saving more, spending less, taking more or less risk with investments).

Clients near retirement or already retired, may receive advice on appropriate distribution strategies to minimize the likelihood of depleting funds prior to death or have to adversely alter spending habits during retirement years.

Risk Management: Our risk management offering will includes an analysis of a client’s current insurance portfolio, exposure to major risks that could have a significant adverse impact on overall financial picture, such as premature death, disability, property and casualty losses, or the need for long-term care planning.  Advice is provided on the amount of protection needed, ways to minimize such risks, and the costs of purchasing insurance versus not purchasing insurance (“self‐insuring”).

Tax Planning Strategies: Advice may include ways to minimize current and future income taxes as a part of the client’s overall financial plan.  For example, we may make recommendations on which type of account(s) or specific investments should be owned based in part on their “tax efficiency,” with consideration that there is always a possibility of future changes to federal, state or local tax laws and rates that may impact the client.

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