Private Wealth Management

In my experience, most clients that I meet initially think that comprehensive financial planning is what they’ve experienced with their financial advisor. But upon further conversations, I find that it what they are used to getting is far from comprehensive. Below are the Ten Deliverables of Private Wealth Management Service, including samples of what comprehensive plans can look like.

1. An annually updated Financial Road Map®, which focuses on your values, goals and benchmarking your progress… and is reviewed with your tax and legal advisors.
   
   
2. An annually updated implementation plan, which summarizes the financial plan into a simple chronological list of action items.
   
   
3. A progress report (Link to sample Progress report), delivered in person quarterly, that summarizes the assets and the progress made toward your expressed goals.
   
   
4. Twice a year we’ll discuss the big picture, covering your financial situation and reviewing the status of the implementation plan. This is a “view from 30,000 feet” so you can sleep at night knowing how you are allocated.
   
   
5. Annual income tax planning in November or December to estimate and minimize taxes and forestall any surprises in April.
   
   
6. Annual income tax preparation, completed by April 1.
   
   
7. Once every five years we’ll review your estate plan. I’ll review it more frequently if congress changes the rules or if something in your situation changes.
   
   
8. Ongoing attention to milestones and goals and a game plan for accomplishing those goals, and updating the game plan when the financial plan is updated annually. The accomplishment of your goals is the best evidence that you have made smart choices with your money and allows you to focus on the things in life that are really important to you.
   
   
9. Assistance with cash, debt management, bill paying, record keeping, filing and major purchases as needed.*
   
   
10. Insurance reviews every three years. We will determine whether you actually need insurance, how much you need and also determine what is the right type of insurance for you at that stage of your life

 

*Financial Road Map® is the registered mark of Bachrach & Associates, Inc. at www.valuesbasedfinancialplanning.com. All rights reserved.