Learn more about our coordinated wealth management services.
Many people mistakenly believe that it is important, or even safer, to have multiple financial accounts with multiple advisors. With this approach, there is no “quarterback” to oversee the planning for, and management of, all of these relationships.
For example, one advisor may be pursuing strategies that are high cost and too risky, and another advisor may be too conservative. The impact is almost always bad. There is often poor tax planning, higher fees, and no coordination between advisors and investments, all producing low after-tax returns.
The Importance of a Coordinated Financial Plan
A well-coordinated wealth management plan increases the odds of a better long-term outcome. At Glass Jacobson Financial Group, we use this coordinated approach to build portfolios for our clients. For example, we place high dividend, income-producing assets into IRAs and retirement accounts, and growth investments, like stocks, into non-retirement accounts. This strategy helps us lower tax liability for our clients and increases net portfolio returns.
Each new client of ours completes a psychometric assessment. This personality test helps us arrive at a holistic investment strategy that considers the client’s unique tolerance for risk. The work we have done with our clients has led to some great stories of success.
A Client Success Story
A few years back we started working with few small business owners who were previously with a commissioned broker. We designed a coordinated wealth management plan between their brokerage and retirement accounts, making numerous changes in planning and investment strategy.
By discontinuing the old retirement program and establishing a custom drafted retirement plan, we reduced employee funding costs while substantially increasing the amount that the owners could save for retirement.
Our plan lowered the business owners’ taxes and investment costs, and ultimately helped them get on track to reach retirement.
Do You Have a Coordinated Wealth Management Plan?
Call us today at 800-356-7666 to learn how we can get your finances back on track to reach your goals.
Five Time-Tested Conclusions About the Financial Markets
By: Jonathan S. Dinkins, CPA/PFS, CIMA®, AIF®, CMFC®
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