I have included a Wealth Management Section in my website. It is a comprehensive approach to managing significant wealth and pieces can be used as needed for more focused situations. Everyone’s scenario is different. I try to look at the whole picture and use parts of this following method as needed.
Many of our clients have accumulated their wealth over time; in some cases, over multiple generations. Others have come into their wealth more recently through an inheritance or a liquidity event such as the sale of a business. Also retiring and rollover of a 401k or 403b requires a special financial responsibility. Our mission is to help our clients ENHANCE, PROTECT and SUSTAIN their wealth.
We help individuals and families optimize their wealth. To accomplish this, we use a unique approach called, Dynamic Wealth Optimization™. The work we do is defined by three key elements:
- Our MISSION, which is to help our clients optimize their wealth
- Our MAP, which leads us to opportunities and reflects our eight-dimensional view of wealth
- Our METHODOLOGY, which enables us to make prudent decisions and achieve our clients’ objectives
Dynamic Wealth Optimization™ is an ongoing journey of discovery. It is a highly collaborative effort that includes our clients, their families and other advisors they might be working with.
Our MAP consists of eight distinct areas of exploration. We call these the Eight Dimensions of Wealth™. It is an eight-dimensional lens that allows us to see opportunities to enhance, protect and sustain a family’s wealth. It also provides our clients with a framework for making smart and thoughtful decisions about their wealth.
The most important thing to note about our Wealth Optimization Map is that your wealth can be significantly impacted in ALL eight areas.
There are many potential opportunities to enhance a family’s wealth in each of the eight dimensions. Likewise, there are any number of potential risks and other threats that can adversely affect a family’s wealth. Many people fail to optimize their wealth because the best opportunities are not always apparent to the untrained eye. The same is true for some of the most serious threats. Opportunities and threats can arise from normal life transitions, most of which are predictable. But, they can also present themselves when unexpected events occur, such as personal health issues and unusual economic developments.
Some opportunities and threats only become visible when we help our clients look carefully into the future. By asking the right questions and applying the proper techniques many opportunities and threats can be uncovered. Our job is to help our clients capitalize on the opportunities and minimize the threats in each of the eight dimensions shown above.
As noted earlier, wealth optimization is an ongoing process. Opportunities and threats evolve over time. The same is true for a family’s goals and objectives. It is perfectly normal to make multiple voyages around the map. We often find something new every time we go around.
Every client we work with is unique…
Please keep in mind that every client is different. This is a dynamic process that allows us to adapt to internal and external changes that occur over time. It is also important to note that many of the dimensions are inter-related. For example, Tax Planning and Risk Management come into play throughout the map. Portfolio & Asset Management can directly affect Retirement Planning and vice versa. Likewise, the work we do in Estate Planning is closely related to the work we do in Legacy Planning.
When it comes to optimizing inter-generational wealth, it is imperative that all family members be considered and, when appropriate, involved in the planning process.
This is especially true for those who have, or will have, decision-making responsibilities with respect to the family’s wealth. For this reason, we encourage all family members to participate. Wealth optimization is an ongoing effort.
Once adopted, the practice can be passed on from one generation to the next. This will help ensure that the family’s wealth remains sustainable.
Business owners bring a unique set of circumstances to the wealth optimization process. In many cases, their personal and business interests are closely related. For this reason, we carefully consider all relevant matters when working with clients who own privately-held companies. When appropriate we rely on third-party experts to address any issues that fall outside of our area of expertise.