Trusted Expertise
What We Do
In its most simplistic fashion, it is making decisions with what to do with one's financial resources.
In most cases individuals want professional help with those decisions.
From a professional perspective it may be as straightforward as managing a client's investments account with the goal of growing it over time, focusing on the accumulation of assets.
In my view, the financial world is more complicated today than ever before with technology rapidly changing options and opportunities as well as the amount of volatility stock markets have experienced in recent decades.
With that in mind my perspective of comprehensive wealth management includes accessing a client's opportunities, goals, resources, responsibilities and tolerances, factoring in taxation, creating a plan on how the clients financial resources should be allocated. Then implement the plan, as well as monitor and adjust the plan as the world and the clients life changes.
We guide clients through the process of identifying the risks that apply to them, and explore the common ways or in some cases their unique opportunities to address them. A comprehensive wealth management plan balances growth and protection.
With over 25 years of personal risk management experience, Adam Goodman brings unique and valuable skill sets to clients. He compares and analyzes multiple options, providing clients with access to unique wealth management solutions customized to their specific desires, resources, tolerances and opportunities.
We utilize 3 different strategies that can be used in a retirement income plan. They all have pros and cons. Some have guarantees*, others don’t. Some provide a lot of flexibility, others little. Some have a lot of growth potential, others have no loss potential. Many individuals find once they have put in place a solid financial base of what their retirement income sources will be, they can take more risk, investing for growth with their remaining assets creating a well balanced wealth management plan.
We look for opportunities to make improvements in reducing future tax liability on favorable terms, and generally recommend not solely making an investment decision due to a tax benefit. Taxation is just one of many important factors to consider, and is one of the wealth management areas individuals can control on an annual basis if they understand the tax laws and apply them to their specific financial situation.
Estate planning combines having the right legal documents in place as well as the optimal financial solutions based on one's desires, this is one of the most important areas for wealthy families when it comes to proper wealth management.
Our Clients
You have been retired for many years now, but desire improvements in one or more of these areas:
Lifestyle & Protection Strategies
Investment Management
Retirement Income Planning
Tax Planning
Estate & Legacy Planning
Generally age 65+… Due to economic changes over the years (primarily lower interest rates), the strategies that typically provide what individuals in this group want has changed too, sometimes that creates challenges, needing to try something new to get a better result, or needing to have different lifestyle protection strategies in place, but being fearful of something new…Change can be a challenge for many. This is why we provide the education we do, as well as treat potential clients with patience and empathy. These types of situations are where our independence, access to multiple financial solutions, process for thoroughly understanding our clients goals, concerns and financial picture as well as a detailed understanding of the pros and cons of each financial option typically provides immense value for clients.
In the information age, there is a lot of financial noise, other advisors and companies communicating different messages and in some cases trying to sell their preferred strategies. We help clients break through that noise and clutter and narrow down the options that are right for them based on their desires, resources and tolerances as well as incorporating tax planning into our recommendations.
Often during this client relationship the client or their family faces a life changing event (the loss of a spouse, a long term care event, or ultimately their own demise) and we help them or the family, navigate, adjust and work through the situations that arise.
This is the client group we are often able to make the biggest short term improvements for, as they are about to or have recently transitioned from the accumulation to the distribution years…
They are facing a whole new system, options and choices they typically aren’t familiar with or find some of these areas overwhelmingly confusing (Social Security, Medicare, Future RMD’s) as well as typically need to address the issues that are unique to the distribution years, that often times haven’t been addressed yet. As well as often need advice in the area of what type of adjustments should be made and to what degree.
There is a lot of similarity with clients in this group and our Successfully Retired clients. Often the main difference is this group needs more initial consultative planning and attention in the risk management area, as on average they have a longer time frame they need to grow, protect and distribute for.
10+ years from retirement, having the proper lifestyle protection in place is important to you, and so is creating your ideal retirement or work optional lifestyle!
You understand and appreciate our “Eliminating Income Tax in Retirement Approach” and want us to work with you to have the proper planning and strategies in place today and into the future!
There are many factors that go into establishing a new client relationship. We don’t have hard and fast rules, either at the end of a 1st meeting or during a 2nd meeting is typically when a client and us agree whether starting to work together in one or more of 3 ways makes sense.
Since we focus on long term client relationships and don’t have monthly quotas, unless the client simply needs to address a lifestyle or asset protection issue, if they don’t fit into one of the 3 client groups mentioned previously, we typically won’t be the best fit for them, but will provide any suggestions we have for them at that point towards making the positive improvements they are striving for…
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