Planning Services

Planning services assist individuals in establishing a roadmap to pursue their financial goals. These services focus on organizing assets, assessing risk, and creating strategies for short- and long-term needs.

An effective financial plan provides a framework for retirement, investment, and income planning. Through an analysis of the current financial position, projections based on the assumptions, and the plan, the client is given a better understanding of where they are today and what to do in order to work toward their goals in the future.

Planning services offer support on an ongoing basis to review, revise, and amend a client's plan as circumstances change. The benefit of planning services is increased clarity, increased control, and increased confidence with all financial decisions impacting personal needs.

"Live" Financial Planning and Projections

Live financial planning and projections provide a real-time perspective into a client's financial future. The use of current data and interactive tools provides a real-time perspective on how choices made today impact the future.

This allows for scenarios to be tested in real time, such as delaying retirement, changing savings rates, or adjusting risk and return assumptions for investment. The hands-on nature of these services allows clients to see the direct impact of their choices in real time, which ultimately leads to improved confidence in their financial decisions.

The projections are done for all income, expenses, retirement, investments, and projected timeline. The live model can be edited as changes in life occur in order to keep the plan and model relevant and current.

Live projections are a more dynamic, engaging way to be informed about and take control of your financial future in real time.

Retirement Income Plan and Design

The retirement income plan and design describes how investments are converted into a predictable income stream during retirement. This process accounts for the balance between lifetime income requirements with available assets, pensions, Social Security, and investments.

Additionally, the planning process provides strategies to minimize tax, lessen exposure to risks, and ensure funds last throughout retirement. In terms of the income plan design, each can consider inflation, increasing healthcare costs, and unplanned expenses, with the aim of building security and stability into the plan.

Individual circumstances and goals also need to be considered in terms of 'income styling' and adhering to current 'retirement style.' Key components of a retirement income plan includes the individual’s current income need, including both the stated goals and circumstances and the individual's current financial situation.

By establishing a pension strategy together with the income style and plan, the individual/retiree can go from working and making money to living off their assets and knowing their expenses will be met.

Portfolio Analysis and Design

Portfolio analysis and design includes examining an investor’s current investment holdings to provide a strategy to fit the long-term objectives. A portfolio analysis reviews the current asset allocation, level of diversification, exposure to risk, and performance of the holdings.

The analysis identifies significant weaknesses in the investor’s holdings, such as serious over-concentration or risk liabilities that do not match the investor’s expectations concerning risk and performance.

Portfolio design creates a diversified and balanced portfolio that manages exposure to risk while pursuing growth, as measured by the individual’s own objectives. Elements such as time horizon, income requirements, and market phenomena factors into the overall design.

Portfolio analysis, through regular review, allows for ongoing change in portfolio composition to reflect the changing life circumstances, including market or economic trends.

The goal is the creation of (or an ongoing opportunity to) differentiate/establish risk in an investment strategy while pursuing consistent returns, as defined by the investor.

Financial Services

Financial services offer resources for individuals and businesses to manage, grow, and protect wealth. Financial services support investment management, savings strategies, and income planning.

Clients receive professional advice and structured investment portfolios with products tailored to meet specific financial goals.

Financial services provide targeted solutions for a range of clients, whether responding to the costs of college, building retirement savings, or planning to use wealth preservation vehicles like insurance and annuities. The aim is to plan with an overall investment strategy to achieve growth while balancing and managing risk.

Financial services also help clients navigate their ongoing financial support and any adjustments.

Planning not only addresses clients' short-term needs but also long-term goals and objectives for financial stability.

Fee-Based Asset Management

Fee-based asset management offers professional management of investments in exchange for a set management fee structure rather than commissions. This fee structure aligns the interests of the client and advisor, because both benefit from the performance and growth of the account.

Advisors develop portfolios based on goals, risk tolerance, and time horizon, and also monitor the performance of the portfolio and rebalances as necessary.

Clients also benefit from research, ongoing adjustments to their portfolio, and reporting that outlines their progress toward goals.

The fee-based model provides transparency and reduces conflicts of interest. In this way, fee-based management is a model for a client to use professional management of their investment portfolio while knowing all activities are considered in their best interest.

College Funding Techniques

Techniques for funding college at the state school or community college level allow families to prepare for the escalating costs of a college education. Services include an evaluation of savings targets, consideration of different tax-advantaged college savings vehicles such as 529 plans, and potential coordination of investment strategies with financial aid opportunities.

Ideally, funding planning takes the guesswork out of how much to save, when to save, final savings goals, and how to balance college expenses against other priorities (like retirement or a sibling's education).

Families also have clarity with scheduled savings targets that compound over time rather than relying on scattered accounts that may or may not accumulate with structure.

Loan qualifications and admissions limits can also be better addressed through a structured plan. A well-laid plan alleviates stress as families create and save targeted distributions for future tuition and expenses.

Mutual Funds

Mutual funds allow individuals and businesses to pool money into units and buy professionally managed funds containing mixed financial securities, which may consist of stocks, bonds, or other domestic or international securities.

Because mutual funds are diversified across companies, products, or economies, the risk of owning one or several securities is diluted.

Mutual funds allow investors to hold securities for growth, income, or a balanced strategy based on objectives and risk tolerance.

Mutual funds also provide liquidity (the ability to buy or sell shares), though some funds may require a minimum holding period to achieve intended returns.

From individual accounts for simple investing to business accounts structured around defined income streams and growth goals, mutual funds are considered a foundational portfolio tool for both short-term and long-term needs.

Brokerage Services

Brokerage services allow clients to participate in investment markets and to purchase and sell stocks, bonds, mutual funds, and other types of securities. Advisors may assist clients in researching information, recommending specific courses of action, and executing trades on behalf of the client.

Brokerage accounts offer flexibility for investors to develop their own plans, while also having the option to receive experienced advice from licensed professionals at any time. Proprietary services provide account management, client record keeping, and client account reporting.

By utilizing a brokerage service, clients are empowered to access useful tools to create wealth, diversify their accumulated investments, and mitigate their risks. In essence, brokerage services combine access to various market exchanges with professional knowledge and licensing experience, guiding investors along their purpose of achieving their objectives.

Annuities

Annuities are a type of insurance product intended to create a guaranteed income stream, often for the retirement phase a client may plan for and account for. A family can fund an annuity with a one-time amount or via installment payments, and later receive a set amount for a predetermined amount of time, a predetermined income for life, or both.

Annuities provide stability and can predictably establish income to meet fixed expenses in the mindset of a retiree alongside investments. Annuities also provide tax-deferred growth during the accumulation period.

There are types of annuities specifically characteristic of a fixed account option, variable account options, or an indexed account option, which vary in risk and income return.

Annuities can be tailored specifically to meet preferences and objectives of the client, providing financial security, as well as the potential of establishing a degree of assurance income obligation which could last as long as is needed in retirement.

Retirement Services

Retirement services offer individuals strategies and products that help save for their future, build lasting income, and protect assets to live off during retirement years. They include tax-advantaged accounts and insurance products that accumulate over a longer period.

The goal of these services is to build assets during the accumulation phase, while also providing appropriate protection to ensure the money is available for the needed withdrawals at retirement.

The retirement planning process is composed of various factors such as income sources, lifestyle goals, healthcare costs, and longevity. Many retirement planning tools can be utilized, including Individual Retirement Accounts (IRA) and annuities, to create stable income streams while also managing taxes and continued market risk.

Retirement services provide a process that helps clients plan for a confident and stable transition to a fulfilling experience in their later years.

Traditional and Roth IRAs

Traditional and Roth are individual retirement accounts that allow individuals to save with the added benefit of tax privileges on contributions.

A Traditional IRA may allow for tax-deductible contributions, tax is then paid upon withdrawals once the individual is retired.

A Roth IRA first requires contributions to be taxed, then withdrawals are tax-free as the IRS allows certain benefits if the account follows the rules before and during the retirement years.

Both accounts can provide a multitude of options for investment, including stocks, bonds, and mutual funds. Determining the best option for the individual is dependent on income, tax bracket, and retirement goals.

IRAs are an important component of building a long-term savings plan and may be established independently of an employer-sponsored plan. IRAs have flexibility and 'portability' which serves any individual in developing their overall plan for retirement success and could reduce future tax burdens in retirement.

SIMPLE and SEP IRAs

SIMPLE and SEP IRAs are retirement account options for small business owners and self-employed individuals. Compared to other retirement opportunities, SIMPLE IRAs allow employees to determine their contributions through payroll deduction with an employer contribution requirement.

SIMPLE IRAs are both easy to set up and administer to make them attractive for smaller size companies. SEP IRAs only involve employer contributions but provide flexibility to contribute an amount each year based on the company’s performance.

Both the SIMPLE IRA and SEP IRA focus less on the required administrative burden and more on the tax-deferred growth. With a SIMPLE or SEP IRA, small business owners can offer their employees a tax-advantaged and easy way to put away money for retirement and possibly help recruit and/or keep them in (their) employment.

The self-employed or independent contractor might also find it easier to save without the administrative burden of other retirement account options.

Fixed and Variable Annuities

Fixed and variable annuities are insurance-based retirement contracts that provide pension-like income streams.

Fixed annuities guarantee a certain interest rate and predictable payments.

Variable annuities are linked to an underlying investment vehicle that allows participants to earn a return depending on the underlying investment, creating the potential to earn an increase in payments.

Both fixed and variable annuities can support the goal of lifetime income and are particularly appealing for retirees who share the concern of 'running out of money portfolios.'

Annuities allow for tax-deferred growth until withdrawals begin. When comparing fixed to variable annuities, consider risk tolerance, retirement income needs, and long-term goals longer-term strategy.

Fixed and variable annuities help clients plan for a steady income and include savings and investments. While fixed and variable annuities can be part of planning, standalone insurance may provide more flexibility and security to clients.

Insurance Plans

Insurance plans protect families and individuals against financial risks associated with health, income, and long-term care. Insurance can help fill the gaps in typical employer benefits and structure a personal solution that meets individual needs.

Insurance supports financial stability by helping to pay medical bills, loss of income due to disability, or the expenses related to extended care. Additionally, insurance can provide families with financial security in the event of death.

With insurance plans that range from long-term care insurance to dental and vision insurance, each client can select a coverage option that is appropriate for their personal situation. The goal is to alleviate some of the financial burden and provide confidence and peace of mind to individuals and families who need reliable protection.

Long-Term Care Insurance

Long-term care insurance can help to cover the cost of services, including nursing home stays, assisted living, home health care, and adult day care services, that regular health insurance or Medicare does not cover.

Typically, long-term care policies provide financial protection if you require long-term care services due to an injury or illness or as part of the normal aging process. The cost of long-term care can be significant and quickly deplete savings in the absence of long-term care insurance.

Long-term care insurance is flexible and allows an individual to choose their preferred setting and type of services. When individuals plan ahead, they protect their assets, reduce the burden on family or friends, and have assurance of care when extended care is needed.

Medicare Supplement Plans

Medicare supplement plans help pay for costs that are not paid for by Medicare, such as copayments, deductibles, and coinsurance. These plans can provide a source of financial stability for retirees who are using Medicare to support their healthcare.

There are different types of plans, which allow each individual to choose a coverage level that fits their needs and budget. Medicare supplement plans are often called Medigap policies, and they go along with Medicare Parts A and B; they do not replace them.

Medicare supplement plans lower out-of-pocket expenses, which helps create a predictable, affordable method of managing healthcare expenses.

For retirees, Medicare supplement plans add an important layer of protection to be able to access care without distress over financial implications.

Individual Medical Plans

Individual medical plans provide health insurance for people who are not covered through an employer benefit plan or government program. These plans are purchased directly and can cover doctor visits, hospital care, prescription medications, and even preventive care.

Plans vary in cost, deductible amount, and provider networks. Individual plans are important for self-employed persons, people retiring early, or someone who is between jobs.

Individual medical plans allow a person to have flexibility to choose a plan that can provide coverage for their specific needs and budget.

Individual plans are very beneficial to individuals, allowing protection from unexpected medical expenses, while continuing to access important care. At the same time, individual medical insurance allows individuals to ensure their coverage and financial security.

Life Insurance

Life insurance is a form of financial protection for families when a loved one passes away, paying a predetermined benefit to designated beneficiaries of the insured individual. Life policies are typically term insurance policies with coverage for a specified number of years, or permanent insurance policies that cover the insured for their life, sometimes with additional cash value.

Life insurance helps families cover costs like mortgage or loan payments, educational expenses, and daily living costs.

For the individual insured, it provides peace of mind and assurance that loved ones will be financially secure.

Both employers and individuals use life insurance to strengthen their benefit plan or financial planning.

Disability Income Insurance

Disability income insurance replaces a percentage of someone's income if they cannot work due to illness or injury.

Disability income may provide short-term or long-term coverage based on the needs of the insured.

Disability income insurance allows for bills and daily living expenses to be met while individuals recover from their incapacity.

For workers who are not adequately protected if they become disabled, this could create a devastating financial hardship. Generally, coverage is based on a percentage of salary to mitigate the impact of income loss.

There is benefit to both the individual and the family when that source of income is protected.

Disability income insurance protects against loss of independence and financial security with unforeseen health issues.

Dental & Vision

Dental and vision insurance help individuals manage the daily healthcare challenges associated with common and essential services not provided by standard medical coverage plans.

Dental coverage generally includes routine exams and cleanings, fillings, and more advanced treatments like crowns or orthodontics.

Vision coverage typically encompasses eye exams, glasses, contact lenses, and sometimes corrective surgery.

These plans are affordable and often provide preventive care that can decrease overall costs and financial burden. Individuals and families benefit from improved health and reduced out-of-pocket expenses.

Continued coverage through dental and vision insurance provides a more complete plan to maintain wellness that supports daily health and quality of life.