Custom Planning Analysis
Our customized Private Wealth PlanningSM process will address your specific needs and concerns for each phase of your financial accumulation and distribution cycle.
We start by indentifying “financial liabilities”, which refers to your costs and expenses, both immediate and long term. Our objective is to identify and organize all of your financial liabilities within three categories we call Survival, Lifestyle, and Legacy. We then identify assets that will be used to fund, or pay for, these liabilities.
Survival expenses are associated with daily living and basic needs. We classify these as non-negotiable. The benefit of identifying these is that we obtain a complete understanding of how assets will be utilized to provide the cash flow needed to pay all Survival expenses under any scenario or contingency.
Lifestyle expenses include discretionary items and luxury activities. We classify these Lifestyle expenses as negotiable, since clients can choose to increase or decrease them as necessary. The benefit of identifying these is that they drive a step-action plan that can create a well-diversified portfolio, designed to fund lifestyle expenses over the long-term, but that can also reduce lifestyle expenses in the event of a market downturn.
Finally, we identify Legacy expenses. Expenses generated by creating a Legacy are classified as aspirational. These are goals that a client aspires to fund over a lifetime and gift at death. The benefit of identifying these is that we can create a complete plan that can help ensure that such assets are distributed according to your wishes and in the most tax-efficient manner possible.
STEP 3: Private Wealth Planning Outputs