As we strive to deliver a higher standard of portfolio management, we are equally focused on developing a financial planning process that meets the evolving needs of our clients. We want to ensure that the engine of an effective investment strategy is driving towards an intentional destination. We are exploring ways to build some structure around helping clients and families take a step back and more carefully define purpose and values. The clearer the vision that a family has about where they would like to be moving, the better we are able to align investments and planning strategies that help them make meaningful progress in that direction.
Beyond the basics of financial and retirement planning, we’re working closely with our clients’ CPAs and attorneys around more complex, multi-generational planning areas such as advanced tax and estate planning, wealth protection strategies, and charitable giving. Family wealth dynamics present unique challenges, and we continue advance our capabilities in this area by committing time and attention to industry conferences, continuing education, and advanced designations that keep us on the cutting edge. We will continue to invest in building the team, tools, and technology that we need to offer an impactful and customized experience for clients and their families.
There have been a number of trends that we are seeing in planning conversations. Caring for Aging Parents & Long-Term Care planning – Much has been written about Gen X and Baby Boomer generations being ‘sandwich’ generations dealing with both children that are navigating college and early career transitions while also supporting their parents through a multitude of challenges particularly around healthcare. We have seen a lot of opportunity to upgrade existing cash value life insurance policies – outcomes include increasing death benefits, lowering or eliminating ongoing premiums, and/or adding benefits such as long-term care coverage. We’ve worked with a number of clients selling investment real estate looking for tax deferred exchanges. Also, for Business Exit Planning assistance. Charitable planning has become a larger focus for many clients.
