Wealth Management, Tax Planning & Fiduciary Insurance Services.
Comprehensive Wealth Management
Importantly, The Wealth Collective handles insurance needs as a fiduciary, from Term Life to Whole Life and Indexed Universal Life, and from Long Term Care policies, to Disability Income or Annuities, we always put clients interests first.
We can perform fiduciary reviews of existing cash value life insurance policies (including Variable Life, Whole Life and Universal Life policies), as well as advise on any Term Life insurance or income annuity needs. We can review policies against benchmarking data to make sure clients actually understand what they own, are not dramatically over-paying, and have realistic expectations about how their policies are likely to perform over time.
Our comprehensive wealth management provides ongoing investment management and wealth planning. We conduct a review of your tax return looking for tax planning opportunities, and review investments, liquidity needs, insurance and legacy goals. We do this to deeply understand you, your values and wealth goals, and your tolerance and capacity to take risk.
We present fiduciary recommendations that may include tax-efficient low-cost exchange traded funds (“ETFs”), as well as individual stocks, municipal bonds, options, and/or use of other public and private securities.
Once portfolios have been set, accounts are monitored and rebalanced regularly. We look for ongoing planning opportunities, especially those to increase tax efficiency, including tax loss/gain harvesting and deferral (or acceleration) of income or capital gains. We may run periodic planning scenarios as part of our annual planning.
For clients entering the draw-down phase, we offer tax-efficient income strategies to help turn accounts back into income you can actually spend, while assisting in tax-aware distribution planning.
Tax Planning
While we don’t provide accounting or legal advice, nor do we prepare any accounting or legal documents, we do engage extensively with clients and their third-party tax preparer and/or attorney. We also review client tax returns each year, utilizing powerful tax planning software to inform tax strategies.
The tasks we perform may involve observations about tactical tax improvements that clients can consider, as well as multi-year tax planning. Our tax planning recommendations may include suggestions about how to tax-efficiently manage investments, how to manage low-basis and/or concentrated stock positions, how to give more tax-efficiently to charity, whether Roth Conversions, Qualified Charitable Distributions (QCDs), or donation (or retention…) of appreciated assets makes sense.
Clients are urged to work closely with their attorney and/or accountant in implementing our recommendations. At the client’s request we may recommend the services of a third-party attorney, accountant, tax professional or other specialist. The Wealth Collective is never compensated in any way for these referrals.
Financial Planning
We provide a wide variety of Financial Planning services to individuals, families, trusts and other clients. Generally, such planning involves preparing detailed long range financial projections, or rendering a financial consultation based on the client’s stated goals.
Our planning involves careful consideration of ways to build tax-smart retirement income plans, tax-efficient structuring of assets, optimal Social Security claiming, a review of health expense needs and Medicare costs, plus all the related work that goes with helping clients achieve their desired outcomes whether growing wealth, spending it, or distributing it to the next generation.
Life Insurance, Annuities, Disability Policies
“History teaches us that the market is usually a master of double-counting, attaching peak multiples to peak earnings, and trough multiples to trough earnings.”
- James Montier