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At every stage of life you have financial questions, issues and concerns. Our job is to help you address them. We consider a complete financial picture for you and your family, both for today and the years ahead.
Based on your needs and goals, Personal Wealth Management issues may include:
Cash Flow Management:
- In the "accumulation" stage of life, how much are you saving and is it enough?
Insurance Needs:
- What types of insurance do you need and how much?
Income Tax Management:
- Are you taking advantage of strategies to minimize your income taxes?
- Is your investment portfolio and withdrawal strategy tax efficient?
Education Funding:
- What are your goals?
- Are you saving enough?
- What is the best way to save and invest?
Investment Management:
Many families have multiple investment accounts: his retirement accounts, her retirement
accounts, joint accounts, children's accounts, college 529 plans, etc.
We use a "Total Portfolio Approach" to design and manage an
investment portfolio to meet your investment returns needs and
risk tolerance.
- Are your investment return goals and risk tolerance in sync?
Retirement Planning:
- Are you saving enough for retirement? What is your current savings ratio?
- Can you afford to retire? How much is enough?
- How much can you spend and not outlive your money?
- We develop a comprehensive financial plan to help you achieve your goals.
- We also consider a lot of questions and issues that you probably haven't thought about!
Estate Planning:
- Many people think of estate planning as "Do you have a Will?"
- We start with you and planning for you during your lifetime!
- Who will make important financial decisions for you and act on your behalf if you are unable to do so due to a change in health or an accident?
- How about health care decisions?
- Do you want to make organ donations?
- Do you want a "Do Not Resuscitate" document?
- For planning after your death, ask yourself the following questions:
Who, what, when and why?
- Who will inherit your money?
- What types of assets will they inherit? IRA vs vacation home.
- When do you want them to inherit it?
- Upon your death or after the death of a second spouse?
- Upon attainment of a certain age?
- In installments over a period of years?
- Why do you want them to use it before a certain age or time?
- For education or medical expenses, to buy a home or start a business?
Our Personal Wealth Management offers the following
Personal Financial Planning Services:
An initial Personal Financial Goal Plan or Retirement Projection, updated every 3 to 5 years or as needed. Optional depending on need.
- An Annual Net Worth Report, including analysis.
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- An Annual Cash Flow Report with Sources and Uses of Cash, including a Savings Ratio
- or Portfolio Withdrawal Rate and other analysis. Includes 5 year history trend.
- (The Net Worth Report and Cash Flow Report are used to measure the progress
- of the Personal Financial Goal Plan or Retirement Projection to “stay on track.” )
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- An Annual Income Tax Summary & Analysis
- Initial preparation and periodic updating of a Personal Financial Planning binder, a
- comprehensive record of personal and financial planning information. This binder
- provides you with a single source for all of your personal financial planning and
- investment portfolio reports prepared by BFMI.
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- Comprehensive Personal Financial Planning, as requested, including Cash Flow, Education
- Planning, Insurance Needs, Employee Benefit Plan participation, Income Tax
- management, Charitable Gifting and Estate Planning consultations.
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Our Personal Wealth Management offers the following
Investment Management Services:
- 1. Initial review of a client education binder “Investments 101”.
2. Completion of a Client Investment Policy Statement identifying investment
needs, goals, risk tolerance and performance expectations. Updated annually.
3. Preparation of a written Investment Portfolio Proposal for approval and
implementation and On-Going Management thereafter.
4. BFMI will prepare all brokerage account applications and transfer forms and
subsequent service change forms for you.
5. Monthly Quick Summary Report with current portfolio data and market values.
6. Monthly Portfolio Performance Report showing one-month, year-to-date and last
12 month total return including deposits and withdrawals for each time period.
This report will start after your first full 12-month period and Annual Investment
Review is done.
7. Quarterly Custom Portfolio Report and personal review.
8. Annual Investment Review with portfolio and asset class performance
calculations since inception, last 12 months and interim periods. Includes
Investment Policy Update. The quarterly and annual report cycles begin after the
portfolio is initially invested.
9. For taxable accounts, a Year-End Realized Gains and Losses Report with date
acquired and cost basis information needed for preparation of your income tax
returns and capital gain distributions for estimated tax payments, if needed.
10. Monthly newsletter “Fun Facts to Know and Tell.”
11. Review of annual IRA funding or IRA Required Minimum Distributions.
12. Review of using Custodian for Minor or Section 529 College Savings accounts.
13. Review of making “in-kind” gifts of stocks or fund shares to charities to preserve
cash and transfer away capital gains income tax liability.
14. Integration of your investment portfolio within a comprehensive financial plan.
As you can see, Personal Wealth Management encompasses many issues. Each client is in a different “stage of life.” We pro-actively help you think ahead. We lead you in every step of the process and regularly review your situation as changes occur. Personal Wealth Management is an on-going process and the service used by over 90% of our clients.
Our service models and fee structure probably have you pretty excited now. Please contact us for an analysis of your situation and specific fee schedule information.
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