In general, our clients belong in one of five distinct categories, each requiring unique, specialized attention.
- Pre-retirees. Generally in their 50s or early 60s, these clients are still in the wealth accumulation phase. They wonder if they are saving enough, if they are in the correct investment vehicles (i.e., taxable, 401k, Roth-IRA), and how to maximize tax efficiencies. They have often been sold financial products but have received little, if any, financial planning advice. They are unaware of the complex claiming strategies required for Social Security or Medicare rules.
- Recent early retirees. Often overwhelmed with the financial decisions they face, these clients are asking, "How much income will I need during retirement? How much health insurance is adequate? Do I need life insurance or long term care insurance? I need to turn retirement capital into a monthly paycheck, which investment vehicles should I withdraw capital from to provide income? How will Medicare changes affect me?"
- Survivors. Clients who have recently lost a spouse through death or divorce tend to be overwhelmed by the recent changes in their personal and financial lives. Some find themselves in charge of their finances for the first time. They often seek our services to guide them through family and personal matters as much as financial matters.
- Family stewards. Retired for a period of time, these clients seek to protect and grow their assets and ensure that unnecessary income and estate taxes do not erode them. They are concerned about the next generation and look to us as their trusted advisor.
- We also act as an advisor to the trustees for a number of defined benefit and defined contribution plans.