Planning For You
Are you a Planning Client?
Goals
To clarify, simplify, and organize their financial life: They see the value in partnering with experienced Advisors to take a holistic approach to defining goals, analyzing options, making informed decisions, and implementing strategies to achieve their financial goals.
To address their questions, reduce financial worries, and decrease complexity so that they can focus on what matters most in life.
Services
Planning Clients work with us to design and implement an integrated financial plan covering selected aspects of their financial life, which can include:
Building, protecting and distributing wealth
Portfolio construction
Asset allocation
Estate planning
Life insurance
College funding
Retirement planning
Executive compensation
Planning Clients partner with us, initially and over time, to manage and maintain their financial plan through ongoing communication and collaboration that reflects changes in their life, planning strategies, the laws and the investment markets.
Are you an Investor Client?
Goals
To seek professional knowledge, expertise and support to align their investment strategy with their financial goals.
To partner with experienced advisors to design, implement, and manage their investments, allowing them to stay invested whether the market is up or down.
To accomplish investment objectives while freeing up valued personal time.
Services
Investor Clients design and implement an investment strategy appropriate to their situation, risk tolerance and goals.
Investor clients receive ongoing investment guidance and service, which can include:
Investment goals
Risk tolerance
Investment strategy
Investment research
Investment analysis
Investment selection
Investor Clients receive support and communication as it relates to investment management.
Important to this process is a qualitative discussion regarding client risk parameters. We follow a regular cycle to implement and monitor client investments.
Are you Ready for Retirement?
One of the most common questions we get from our clients is “How will we know when we are ready to retire?” We’ve put together a list to help clients identify what they need to think about so that they are comfortable making the transition.
See how many of the following you can say “yes” to:
I know and have openly discussed when I would like to retire and what that looks like for me.
I have identified the top three priorities I’d like to focus on in the first three years of retirement.
My values are aligned with my spending habits and where I devote my time.
I have a financial plan in place that takes into consideration my retirement income needs, inflation, budgeting, spending, a longer life and future expenses.
I can easily see if I’m on track toward my goals and have help if adjustments need to be made to the plan.
I am comfortable with the risk level associated with my investments, and I evaluate my tolerance annually.
My financial life is consolidated, organized and disclosed to trusted sources.
I have thought about the amount of money I would like to leave behind to my heirs and/or charities.
I have a Power of Attorney and Will that are up to date.
I have an emergency fund for unexpected life events.
I understand how taxes will impact my retirement income and spending.
I understand my Social Security benefits and when to start taking them.
I understand my Medicare benefits and how to maximize them.
I have calculated my projected medical care and/or long-term care costs.
I have identified the activities I will find fulfilling in retirement and can access them.
I am ready for this next chapter of my life.
When to Contact us
You would be surprised how often clients experience financial, personal, or life changes and don’t think to contact their financial advisor. It is a good idea to get in touch, especially before big financial decisions or in situations like these:
Personal or life changes
Marriage
Divorce
Birth or death in the family
Major illness
Lawsuit
Financial changes
Inheritance
Significant debt repayment that may free up cash
Work-related bonuses or stock options
Buying or selling a primary residence, vacation, or rental property
Other major purchases
Business changes
Purchase or sale of a business
Other business related or large-flow expense
Adding or updating employee benefits
Business Succession
Estate Planning Issues
Long-term care insurance
Asset transfer
Generational planning
Estate taxes
Charitable giving
Creating or updating a trust
Preparing to Work with us
Being a well-prepared client: How to get the most value out of your advisor relationship.
Here are some practical questions to consider as you begin your new relationship with us:
What services do you provide?
What can I expect from you?
How often will we meet?
When will you contact me?
How are you compensated?
How often do we review my portfolio and its performance?
How often do we review the progress toward achieving my goals?
The financial advisor-client relationship can be similar to the doctor-patient relationship. Success in both is based on mutual respect, honesty, and trust.
Before we meet, think carefully about the nature of the discussion and what you wish to accomplish. Prepare any questions you have in advance. During the meeting, take notes and ask questions until you are comfortable with a concept or suggestion. However, don't feel compelled to reach decisions right away. We encourage you to discuss your questions and concerns with us before making a decision.
Remember: our job is to look out for your best interests and help you achieve your financial goals. Establishing a mutually open, honest relationship is an important step in realizing those goals.
Neither New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.
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