Financial Planning

 

WHAT is a FINANCIAL PLAN?


A FINANCIAL PLAN is acomprehensive 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

 

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
  • 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
  • Create or review a socially responsible investment (SRI) strategy
  • Ability to exclude specialty investment services (e.g. tobacco)

RISK MANAGEMENT

 

 

  • Investment portfolio risk assessment
  • Investment portfolio risk assessment
  • Life and long term care insurance analysis
  • Repurpose old insurance products for new needs
  • Fee and taxation review
  • Annual credit bureau report request
  • ILIT and trust reviews
  • Potential “blind spot” review

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
  • 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
  • Cash flow budgeting
  • Discuss multi-generational income needs (supporting adult child and/or elderly parents)

FAMILY & ESTATE PLANNING

 

 

  • Assist with execution of estate plan pertaining to investments and beneficiary designations
  • 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
  • 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

TAX*

 

 

  • Incorporate tax status with investment strategy
  • Review realized gain/loss
  • Tax loss harvesting
  • 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
  • Introduction to a CPA (if necessary)
  • Out of office strategy and planning meeting with your CPA

OTHERS

 

 

 
  • Comprehensive financial plan
  • 12 months of service designed to implement plan
  • Comprehensive family record organizer (documents and instructions for executor)
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. *Raymond James financial advisors do not provide tax advice. You should discuss any tax or legal matters with the appropriate professional.

 

 

Standard of Care 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.