To best create a financial plan, there is a need for deep understanding of an individual’s mission, vision, values, and goals. In addition, there must be clarity around an individual’s current financial data, such as assets, liabilities, income streams, planned sales of businesses, and expected inheritances.

For individuals who are not yet financially independent, our team can offer guidance and direction on such key topics as how to establish savings goals; effectively manage and invest the proceeds generated through the sale of a business; and how best to incorporate and plan for future inheritances.

For executives and business owners, executive benefits optimization is another crucial aspect of financial planning. Executives and business owners often have access to unique benefits packages, including stock options, deferred compensation plans, and executive bonuses. Maximizing these benefits requires careful consideration of tax implications, cash flow, timing of contributions and distributions from qualified accounts, and risk management. By optimizing executive benefits, individuals can enhance their overall compensation package and create additional wealth for themselves and their families.

Financial planning also focuses on how an individual can maximize the use of certain types of accounts to increase wealth while minimizing or deferring taxes. This may include the use of 401(k)s, IRAs, Roth IRAs, pension plans, alternative investments, taxable accounts, and trusts.

In short, financial planning involves orchestrating the interaction and coordination of all aspects of an individual’s financial, family, and charitable goals.