BUILDING TRUST
Our recommendations are highly specialized to your personal goals and values. The Family Firm provides you with complete and continuous wealth management services, including:
- In-Depth Analysis to thoroughly understand your situation.
- What-if scenario analysis via a Customized Financial Model.
- Implement Solutions for you that serve as an action plan.
- An Annual Update Meeting to review the big picture and stay focused.
- Tax Review and Planning to coordinate with other financial activities.
- Continuous Investment Management and reporting to you.
In-Depth Analysis. Before we make any recommendations that may have a long-lasting impact on your financial future, The Family Firm asks you some key questions — and we listen carefully. We want to know what your goals are for the future, your current financial picture, your worries, your resources and your obligations. Our in-depth analysis covers relevant financial areas, including:
- Investments
- Cash Flow
- Taxes
- Estate Transfer
- Asset Protection (Insurance, etc.)
- Retirement
- Related areas such as education planning, charitable gifting, elder care, succession planning, etc.
Once we know who you are financially, we apply that knowledge to the marketplace at large.
A Customized Financial Model. Based on information about your finances, holdings, personal values, and plans, we construct a financial model that is unique to you. An integrated approach delivers clear guidance on questions such as:
- How much should I give to heirs now?
- What is the tax or cash flow impact of owning this rental property?
- What rate of return or level of savings is required so that I do not outlive my resources?
This model is updated periodically and serves as a reference for all advisory work on your behalf.
Implement Solutions. Once we gather and analyze valuable personal information about your financial picture, we begin to put in place an action plan of investment recommendations, transactions, and guidance. Our efforts will include:
- Execute and monitor the investment plan.
- Coordinate with your other advisors (e.g. send tax information to your CPA, attend meetings with estate planning professionals, update financial statements for your bank, etc.).
- Communicate with key players in your company (personnel, benefits, personal assistant, etc.).
- Complete the paperwork required for agreed upon changes (insurance applications, investment accounts, etc.).
- Make required periodic transfers (minimum required IRA distributions, charitable contributions, trust distributions, IRA contributions, etc.).
- Quarterly reporting on our investment and financial management activities on your behalf.
Annual Update Meeting. This meeting is an opportunity to assess goals and progress. Are financial resources adequate for the long-term? How are the investments doing? Are your stated goals still relevant? What's planned personally, for the family? What has changed in the economic landscape that you should be concerned about? These discussions are typically rich, relevant and useful to clients. They form the basis for a new prescription for the coming year.
Tax Review and Planning. During the year we assist with tax planning and review of prepared filings for additional opportunities. We do not prepare taxes or replace the services of your CPA or tax advisor.
Continuous Investment Management. Our continuous investment management includes:
- Implementation of the Investment Plan
- Track investments daily.
- Continuous monitoring of financial conditions and the implications for your portfolios.
- Periodic in-depth evaluations and rebalancing of portfolios.
- Report quarterly on all investments.
- Perform an annual tax planning review and report to tax advisor or CPA.
- Offer periodic firm-wide client conference calls to discuss current economic and investment conditions.
Because The Family Firm is Fee-Only™ and earns no commissions from any products or services we recommend, our focus is what's best for you alone.
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