PRW Wealth Management
Personal Financial Planning "To succeed is to anticipate the future with a strategy" - Armand Hammer The purpose of Personal Financial Planning is to develop a comprehensive financial plan or "road map". This combines planning with ongoing advice to help each client make certain that his or her total financial picture is constantly being evaluated with respect to changing conditions. At PRW, we make specific recommendations, which are designed to provide more efficient use of the client's growing resources, to improve net worth, to reduce income and estate taxes, and to increase after-tax cash flow. How We Work Our initial meeting with you involves no charge or obligation. It is simply a "get acquainted" session where we learn about you and your current situation, and you get a picture of the scope of our services. The Advisory Process When a decision is made to proceed, our in-depth financial advisory process begins. First, an intensive fact-finding session helps us become totally familiar with your current financial situation, as well as your personal goals and priorities for the next several years. Then, working from this comprehensive information, we prepare a detailed financial plan, which documents your current situation, identifies all areas which will be impacted, and makes specific goal-oriented recommendations. This analysis includes:
- Investment Planning
- Complete Review of Life, Disability, Property, and Liability Insurance
- Identification of Business Continuity and Transition Issues
- Coordination of Financial Indebtedness
- Formulation of Educational Strategies for Family Members
- Recommendations for Estate Planning Opportunities
- Discussion of Charitable Planning Tools
- Projections for Retirement Planning and Wealth Accumulation
- Efficient Coordination with Other Professional Advisors (CPA, Attorney, Banker, etc.)
- Cash Management
- Development of Family Gifting Strategies
Recognizing our ever-changing tax environment, we also work to assure that you are positioned in the most effective manner relative to your personal tax situation. Review and Implementation Each recommendation in our analysis is then thoroughly reviewed with you to substantiate our rationale for making it, and to confirm your understanding and support of it. If desired, we actively assist in the full implementation of every plan recommendation in conjunction with other members of your financial advisory team. Ongoing Monitoring We monitor and evaluate the soundness of recommendations in light of changing personal and economic circumstances. Our goal is to meet at least annually in person and more often if required to review plan progress. Asset Management Demographic and technology driven trends are igniting a rapid change in what investors expect from their financial advisors. Today's affluent investor recognizes a need for customized, individual portfolio solutions. These investors want choice and demand performance. They are concerned with the impact of taxes on their investments and want access to top investment managers. Their interest in alternative investments, and their reliance on technology, is on the rise. PRW employs time proven investment strategies which help empower clients to achieve their goals. PRW offers separate accounts managed by the world's leading money managers and mutual fund wrap alternatives integrated with Internet-based monitoring and reporting. The fusion between premier investment management and web-enabled technology positions help our clients to be on the cutting edge. We employ a five-step Client Management Process to pave the way for your successful financial future. 1 Through personal consultations with you, we develop your personal profile, including your individual needs and objectives, time horizon, and attitude toward investing. 2 We develop a personalized investment policy statement and asset allocation policy based on your needs and objectives as identified in Step1. This policy establishes realistic objectives and guidelines for your portfolio, and provides guidance for the allocation and investment of your assets. 3 Your allocation policy is implemented by investing in a well-diversified portfolio and is managed by preeminent institutional money management firms. 4 Your investment portfolio is carefully monitored on an ongoing basis to ensure that it remains consistent with your agreed-upon asset allocation policy. If the relative value of investments in your portfolio changes enough to become inconsistent with this policy, it is re-balanced. 5 We communicate with you on a regular basis and provide a comprehensive reporting package including account level performance reports and statements providing details of your account - including total asset value and a record of all transactions that occurred during the reporting period. Our asset management process seeks to help minimize risk while helping maximize potential after tax return on your investments. We incorporate all client assets into our planning to ensure that we are integrating tax and wealth distribution strategies in your plan design. Case Studies Estate Maximization Dynasty Trust Charitable Legacy Enhancement Enhancing a Charity's Cash Flow Zero Estate Tax Plan Credit Shelter Trust Sale to a Grantor Trust w/ Life Insurance
|
