Wealth Management looks at all of the pieces of your financial life!
Wealth Management is the umbrella under which all of the following exist and Financial Planning ties it all together:
Retirement Planning
Investment Management
Cash Flow Management
Insurance (Risk Management)
Superannuation Strategy
Also referred to as a Company Pension Plan
Business Continuity & Succession Planning
*Estate & Tax Planning
We work closely with you to create a personalized financial strategy with your lifestyle goals in mind. Following our discovery process, together we will build a plan that supports your objectives and monitor it regularly to help you stay on track.
*Cetera Advisors and Directions Wealth Management are not tax or legal advisors. Please see your tax and legal professionals for advice specific to your situation.
« Financial Planning
A financial plan is like a flight plan in that it provides you with a vision and strategy to get you to your destination.
Key components that are critical to success are:
Retirement Income Planning
Portfolio Management
Insurance & Estate Planning
Cash Management/Banking
Real Estate Management
« Retirement Income Planning
Planning your income for retirement is a key component of a financial plan and risk management is crucial to good retirement income planning.
There are many different aspects to retirement income planning. Younger people can typically assume more investment risk as they have longer for the markets to work for them.
Balancing risk versus return as you get closer to retirement is critical, but keeping in mind that you could spend 30 years or more in retirement means that you will still need growth in your investments to outpace inflation.
Adequate income sources (to include Social Security) need to be in place to cover all critical expenses. Social Security planning is an integral part of retirement planning and has it's own complexities.
Some of the tools commonly used for retirement planning include:
- 401(k) Plans
- 403(b) Plans
- Traditional IRA
- Roth IRA
- SEP IRA
- Simple IRA
- Educational IRA
- Money Purchase Plans
- Profit Sharing Plans
« Portfolio Management
All portfolio management is done with a financial planning focus. We use diversified asset allocation strategies with risk management appropriate to your circumstances.
We are a fiduciary on our advisory investment management accounts, which are discretionary fee-based and where we charge a percentage fee on account values. Typically there are no commissions or sales charges for the investments within this type of account. If changes are made to the portfolio, they are made because we sincerely believe them to be in your best interest.
For more details on the services we provide, please see our Investment Advisory Services page.
For some types of smaller accounts and for insurance we are paid commissions on certain types of transactions and we will always be transparent regarding all fees & expenses.
We have access to almost all available asset types and classes, to include:
- Mutual Funds
- Exchange Traded Funds (ETFs)
- Bonds
- Common Stock
- Variable Annuities
- Fixed Income Annuities
- Alternative investments including:
- Real Estate Investment Trusts (REITs)
- Business Development Companies (BDCs)
- Hedge Funds
- Managed Futures
- Private Equity
« Insurance & Estate Planning
Helping to leave the best world you can to your children, heirs, or the institutions you value is what estate and insurance planning is all about. Proper estate planning is crucial in determining how your assets are handled when you are incapacitated or have passed. Maintaining adequate insurance is critical to financial security and is closely tied to proper estate planning. How insurance is structured and tied to your estate plan can have a significant impact on taxes!
Estate Planning
While we are not attorneys and don't draft legal documents, we have a deep understanding of the crucial part proper estate planning plays in the lives of our clients and their families. We work exceptionally closely with our clients and their attorneys to make sure their affairs are in order. If needed, we have great relationships with a number of highly qualified estate planning attorneys and are happy to connect you with them.
Insurance
As independent insurance professionals, we are not captive to any one company or agency. Our team has over 45 years of combined experience with Life, Disability, Long-Term Care, and other supplemental insurance. We work with an extensive number of insurance companies to find the best fit for our clients in terms of coverage, cost, benefits and insurability. There is a big difference in how different insurance carrier's will treat different individual health conditions and whether or not they will insure an individual. We're able to pre-screen clients so that we can work with the best carrier for their needs.
« Types of Insurance
Life Insurance
Critical to protecting families and loved ones, it also has other very important estate planning, protection and asset transfer uses. Many life insurance options are available, including term, whole, universal and variable life. Life insurance is an important part of what we do to help you secure your and your family's future.
Disability Income Insurance
Important for anyone who is self employed and for employees who may not have access to or who have inadequate company sponsored plans.
Long-Term Care Insurance
A long term care plan which may include specific Long-Term Care insurance is also critical. With increased life expectancies and the rapid increase in the number of people with varying degrees of dementia, including Alzheimer's, a well thought-out plan is important.
Supplemental (Medicare supplement, Dental, Vision) Insurance
We can handle many of these policies in-house and in other cases are happy to refer you to great local professionals!
Property & Casualty and Health Insurance
A "must have" and we are happy to refer you to great local professionals!