As one of our clients, you benefit from the knowledge and expertise we have developed over the years. We understand the specific challenges and decisions you face as an executive, business owner or licensed professional.
As a senior executive, you need to skillfully manage your wealth, responsibility and reputation, but must balance that with myriad other priorities. Our experienced Wealth Managers specialize in handling the high-priority tasks of financial planning and advising that are key to your success and peace of mind. From stock options, RSU’s and competing job offers, to deferred compensation and the intricacies of the Alternative Minimum Tax, we help senior executives successfully address all aspects of their financial and professional lives, including questions such as:
- Time – I am very busy. To whom can I delegate financial planning and tasks to save time? I need someone I can trust, because I don’t have time to handle this personally.
- Company Stock Ownership – When do I sell my stock options or stock grants? How do I diversify beyond company stock to avoid risk? How do I best maximize the value of my stock options?
- Considering Transitions – I have a competing job offer. How do I compare the proposed compensation with what I have now?
- Retirement Planning – How do I best plan for a prosperous retirement? Am I saving enough, and is it invested correctly?
- Reputation, Risk and Growth – I have accumulated wealth, and it is getting big enough that I will lose out big time if I make a mistake. I can’t afford big mistakes at this point in life. How do I ensure that my financial affairs are in order and appropriate so as to manage risk and maintain my and my company’s reputation?
- Executive Compensation – How do I navigate the maze of executive compensation, preventing the embarrassment and loss of significant income that mistakes could bring?
Seasoned Licensed Professionals:
As an experienced licensed professional, you have a lot on your plate. You are time-starved from residency through retirement, which presents unique challenges to the dentists, physicians, attorneys and CPAs with whom we work. You’re busy with the day-to-day work of your business, and don’t want to make any missteps when it comes to your running your business and planning for the future. Commonly our licensed professional clients begin practice at a later age than their non-professional peers, and fewer working years means every year has to count.
From managing debt to planning for retirement and protecting your reputation, a trusted expert can help you navigate through the stages of your financial lifecycle. We take you through each stage as quickly as possible, addressing topics such as:
- Retirement Planning – How do I best plan for a prosperous retirement? Am I saving enough, and is it invested correctly? When will I be able to retire? Will I outlive my retirement?
- Debt Management – Do I have the right type and structure for loans for my practice?
- Income Compression – Am I doing the right things to achieve my goals with my income, considering my income may stay flat or decline?
- Time – How do I find expert guidance? I need a track to run on. I am competitive, and smart enough to figure this out, but I simply don’t have time. I just need an expert to help me focus on the most important goals, someone in whom I have confidence.
- Legacy Planning – If I die before my spouse, she or he will not have any idea how to do this. How do I find someone to help them not be taken advantage of? I need someone I can trust not to try to sell us something.
- Asset Protection – How do I protect myself and my family from potential lawsuits?
- Reputation and licensing – How do I keep my financial affairs in order so as to not damage either?
Successful Business Owners
As the owner of a thriving business, you are competitive and an expert at what you do. Your revenue and profit formula is working—for the moment. At the same time, you have also figured out it is impossible for you to do everything yourself. Being CEO is often the loneliest position in the organizational chart. You have few, if any, counselors with expertise in the variety of issues you face. You have sacrificed and built a successful business, often ignoring your personal finances.
By partnering with a Wealth Manager, you can delegate financial planning tasks and get the trusted guidance you need to focus all of your attention on continuing to grow your business. These are the topics and questions we most often work with business owners to manage:
- Expert help and guidance – I have a successful business, but I need someone to help me with a comprehensive review. I’m very good at running a successful profitable business, but investments are not my area of specialty, and I do not have time. I need someone I can trust to bounce ideas off of, and I need help forming a long-term plan.
- Diversification – How can I accumulate sufficient assets outside of my business?
- Legacy Planning – If I die, what happens to my spouse? I handle all the investments and the run the business … what will happen to him or her?
- Teaching my children to respect money – How do I help the next generation learn about and understand about money and not have a sense of entitlement?
- Taxation, Liability and Benefits – When planning for my business, how do I make the smartest financial decisions for the company and our employees?
- Selling my business – I am considering selling my business, and need help. How do I value my business? Do I have enough investments to retire on? Do I want to sell, or do I want to “die in the saddle”?
Our Wealth Management services are extremely comprehensive, and are designed for clients with at least $1 million in investment assets.
In select cases where a prospective client has entered the rapid accumulation phase and is able to demonstrate an ability to save and invest at least $100,000 per year, our services may be appropriate. This may apply to some licensed professionals, and other business owners who have reinvested heavily in their businesses and now need to diversify separately from their core business.