WHAT IS A FINANCIAL PLAN?
A FINANCIAL PLAN is a comprehensive Evaluation Of Your Current Financial Position (Point A) And Prioritizing Your Financial Goals (Point B). The Plan Acts As A Route Map (To-Do List).
What Is A Key To A Successful Financial Plan, You Ask?
Families Can Use A Team Of Guides (Professionals) To Help Launch And Execute Their Financial Plan By Helping Them Get From POINT A To POINT B (Checking Off To-Do List).
The Friedman Wong Kafetz Group Uses A Custom, Comprehensive Or Enhanced Approach To Financial Planning To Address Each Family's Financial Needs. Allow Our Experienced Team To Be A Part Of Your Journey To A Successful Retirement.
Steward Partners Global Advisory, LLC and The Friedman Wong Kafetz Group maintain a separate professional business relationship with, and our registered professionals offer securities through, Raymond James Financial Services, Inc., Member FINRA/SIPC. Investment advisory services offered through Steward Partners Investment Advisory, LLC.
FINANCIAL PLANNING SERVICES
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CUSTOM |
COMPREHENSIVE |
ENHANCED |
ASSETS & INVESTMENTS |
- Comprehensive review of existing investments including physical assets (e.g. real estate)
- Risk assessment analysis of existing investments
- Create customized investment solutions
- Implement a time segment bucket system
- Ensure investment assets reflect plan & goals
- Ensure that solutions meet risk criteria
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- Comprehensive review of existing investments, including physical assets (e.g. real estate)
- Track and advise on outside investments & 401(k)
- Risk assessment analysis of existing investments
- Create customized investment solutions
- Implement a time segment bucket system
- Ensure investment assets reflect plan & goals
- Ensure that solutions meet risk criteria
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- Create or review a socially responsible investment (SRI) strategy
- Ability to exclude specialty investment services (e.g. tobacco)
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RISK MANAGEMENT |
- Investment portfolio risk assessment
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- Investment portfolio risk assessment
- Life and long term care insurance analysis
- Repurpose old insurance products for new needs
- Fee and taxation review
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- Annual credit bureau report request
- ILIT and trust reviews
- Potential “blind spot” review
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RETIREMENT |
- Identify goals & solutions to optimize goals
- Customize investment solutions that match your retirement plan and goals
- Implement the Maslow's Hierarchy of (Retirement Income) Needs
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- Identify goals & solutions to optimize goals
- Customize investment solutions that match your retirement plan and goals
- Implement the Maslow's Hierarchy of (Retirement Income) Needs
- Retirement income needs analysis
- Ongoing tracking and monitoring
- Periodic Advisory Reviews (PAR) in-person/phone
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- Cash flow budgeting
- Discuss multi-generational income needs (supporting adult child and/or elderly parents)
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FAMILY & ESTATE PLANNING |
- Assist with execution of estate plan pertaining to investments and beneficiary designations
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- Assist with execution of estate plan pertaining to investments and beneficiary designations
- Education planning (private school & college)
- Review large purchases (e.g. home, car, etc.)
- Discussion and review on purpose of estate plan
- Establish new estate plan if one does not exist
- Review of existing estate plan documents
- Potential estate tax and liability analysis
- Discussion & review with estate planning attorney
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- Introduction to an estate planning attorney (if necessary)
- Out of office strategy and planning meeting with estate planning attorney
- Discussion with primary executor of estate
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TAX* |
- Incorporate tax status with investment strategy
- Review realized gain/loss
- Tax loss harvesting
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- Review of past two years of tax returns
- In-depth discussion with CPA
- Unique review with CPA of possible tax filing status to minimize taxes
- Incorporate tax status with investment strategy
- Review realized gain/loss
- Tax loss harvesting
- Estate and gifting strategies
- Retirement savings to minimize taxation
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- Introduction to a CPA (if necessary)
- Out of office strategy and planning meeting with your CPA
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OTHERS |
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- Comprehensive financial plan
- 12 months of service designed to implement plan
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- Comprehensive family record organizer (documents and instructions for executor)
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Document Checklist
Financial Planning Services Form
Document Checklist
*Raymond James financial advisors do not provide tax advice. You should discuss any tax or legal matters with the appropriate professional.
