Adequate and Secure Cash Flow is the key to a successful Financial Plan. It is the primary issue for consideration.
Family Wealth Offices should focus on
"It's not how much you make, it's how much you get to keep." Paying less in taxes may put more money in your pocket to use to fund your financial goals.
The biggest expense later in Retirement is the cost of Long-Term Care. This expense needs to recognized and properly funded to ensure a secure and comfortable care later in life.
Professional level portfolios are developed with respect to personal risk tolerance, income needs, and diversification across several types of investments in order to minimize desired volatility.
Clients usually want to be able to pass on their wealth that they have not used in Retirement to their heirs in a fair and orderly fashion. This takes careful planning and preparation so that the process proceeds as the client has desired.
Transferring an Estate can be a complicated and overwhelming task for heirs that are unprepared for the task. It is usually prudent to educate and train heirs on their duties and responsibilities so these matters can proceed as planned.
The “Why” of What We Do
We believe that there are many people are in need of Financial Planning and Investment Management assistance from an experienced professional. The subject is detailed, difficult, and complex. The typical investor simply does not have the professional level training, experience, and tools available to them that a qualified professional does.
We also believe that professionals are failing to clearly define the services that the public has available to them. They are also failing to clearly communicate the scope and cost of those services leading to a hesitation for people to engage to get the Financial Planning and Investment Management assistance that they need.
We also believe that most people do not realize that the phrase “Financial Advisor” has no specific meaning in the industry as just about anybody can call themselves a “Financial Advisor”. There are many licenses and designations available in the industry and some are clearly more worthwhile than others.
We believe it is your best interests to seek out and engage qualified and experienced Financial Professionals for Financial Planning and Investment Management assistance. The value gained from effective Portfolio Construction, Risk Management, Tax Avoidance, and Income Generation at a professional level should far outweigh the cost of engaging a Financial Professional.
Kurt Rohrs, CFP®, ChFC®, CLU®, MBA
President, Southwestern Retirement Planning Advisors, Inc.