Wealth Management Tools
Does your advisor have the best tools ?
Because Wealth Management is a comprehensive and holistic process, a wide range of tools are required. We have listed a few of the tools we use to help clients reach their goals and dreams.
Our process of Estate Counseling is designed to help you maintain control of your assets throughout your lifetime; when you are healthy and able to make legal decisions, if you should become disabled, and ultimately, final wealth transfer to other generations. In the wealth management tradition we work closely with estate planning attorneys to assist in the drafting of documents that will eventually control your assets and fulfill your wishes. Creating legal documents is only the first step in controlling your estate. The best estate documents are worthless without proper integration with your assets. Typically, your various assets need to be coordinated with your estate plan with respect to title and beneficiary designations. As your wealth advisor, we will coordinate these changes so that your estate documents perform as designed and we will monitor you future financial decisions so that they remain consistent with your estate planning structure.
Our Asset Protection Planning services are designed to look at your total financial picture and identify areas of possible liability exposure. Often clients have second homes, farms, commercial real estate or investment properties that can inadvertently augment their liability exposure. We will provide recommendations on various ways to help limit the possibility that you become the target of litigation. We can work with you to place your assets in legal entities such as Limited Liability Companies, Corporations and Limited Partnerships to reduce your liability of financial disaster as the result of a lawsuit.
Account Aggregation- The Keystone of Wealth Management compiles your personal account information including investment, retirement, insurance, annuities, banking, mortgage, loans, credit cards and bill information into one place. This service can assist you with account organization and will help us as your wealth managers to view your managed and non-managed assets—identifying any areas that may need attention. Any account that you can access online and you wish to include can be listed and valued.
Using our account aggregation services for Retirement Plan Management we are usually able to include your company’s retirement plan – i.e. 401(k) into our investment management services. This account will be included in your quarterly performance report. Your 401(k) account is often the account with the largest deposits prior to retirement and we feel that management of this important asset is critical.