Client Offering: Suite of Services
MISSION STATEMENT
As a CERTIFIED FINANCIAL PLANNER® professional, I am steadfast in my resolve to put the needs of my clients first. Through consistent contact, active listening, and thorough follow-up, I address my clients’ financial issues and provide them with solutions that are aimed at achieving long-term success and peace of mind.
I help guide my clients down the path that leads to their dreams. My mission as an advisor would be impossible to fulfill without the individuals and families who entrust me to guide them with their most important financial decisions and assets. I take what I do seriously and am honored each time I am able to instill financial stability and confidence in the lives of my clients, their families, or their employees.
13 WEALTH MANAGEMENT CHALLENGES
The wealth management structure of our relationship is as follows, based on the 13 Wealth Management Challenges established by Jacob Gold & Associates, Inc..
1) INVESTMENT PLANNING
Your ability to enjoy the lifestyle you want may be strongly correlated to how effectively you build and preserve wealth. As an investor, it is practical to seek professional assistance managing risks and evaluating your asset allocation. Also, if you’re compensated with stock, or if you have more than one brokerage account, you may want help identifying and efficiently re-investing the proceeds from asset concentrations and/or duplications.
We also need to identify any gaps you have in your investments and what your feelings are about your investments, goals, and family dynamics. You may be ready to expand your approach to diversification and risk management beyond the current investment strategies you are using to include other alternative investments.
2) RETIREMENT PLANNING
This includes your employer-sponsored retirement plan and IRAs which play a significant role in your retirement income plan. Are your assets allocated efficiently across these investment vehicles? Are your beneficiaries current?
We can help you make sure these tools are being used, that you will begin to envision your hopes, dreams, goals, and concerns about retirement, and that there are no surprises someday for your heirs.
3) EXECUTIVE COMPENSATION
If you’re an executive, stock options may play a key role in your compensation but navigating the complex regulations that govern them can be challenging. We want to help you be proactive, so we will provide education on your stock options and develop tax-efficient strategies around them.
4) INSURANCE
With your life’s investments and savings at stake, a comprehensive insurance plan can help you protect your current assets and future holdings. We offer life insurance, long-term care insurance, and annuity products that can be designed specifically for your situation.
We will do an analysis of whether you have enough insurance, too much insurance, the right type of insurance, and if costs are in line with industry standards. We will identify any potential risks or gaps and recommend next steps for developing the right insurance and disability plan for your needs.
5) BANKING AND CREDIT MANAGEMENT
Managing the liability portion of your balance sheet is especially important. There may be reasons you need to look into getting a loan. Whether it’s to build a new home, add to your business, or something else that takes a major outlay of cash, we can help you imagine what that plan looks like by showing you its impact on your overall financial picture.
6) PROTECTION STRATEGIES
In a will, titling your investment accounts in your own name will not escape probate in the event of death. Everything needs to be spelled out to trustees and successor trustees so there are no surprises. Documents also need to be kept up to date to alleviate chaos in the event of a death.
We can work with your attorney and CPA or direct you to those professionals we work with who are highly regarded law and accounting experts if you don’t have those relationships established.
7) DURABLE POWER OF ATTORNEY AND MEDICAL DIRECTIVES
Do you have someone who will make important decisions about your estate if you have an accident or become incapacitated in some way? You want to make sure you have someone in place since the court procedure can be time-consuming and expensive. It can also reveal your diminished capacity to the public, and the powers of a court-appointed fiduciary are more restricted than those available to an agent under a durable power of attorney (DPOA).
We will make sure that one of our experienced, objective, professional partners is there to make decisions that are in the best interests of your loved ones and others that you care about by helping you appoint a durable power of attorney.
8) EXECUTOR/TRUSTEE
The role of executor or trustee is complex, and the responsibilities are demanding. We will work with you and those you have named as executor or trustee and successor trustee to help ensure they understand your investment strategy.
9) GIFTING TO CHILDREN, DESCENDANTS, AND EDUCATION PLANNING
When you’ve achieved a level of financial success, you might like to help your children or grandchildren with a college education or provide funding so they can start their own business. You may also want to support charities that you have a passion for along with plans for enjoying your retirement years.
With these goals in mind there needs to be a plan in place to fund these endeavors, and make sure to have a contingency plan in case of a failed business, a child who doesn’t want to attend college, or unexpected health issues that could dramatically change what you’ve so carefully planned for so long.
10) CHARITABLE GIVING
Along with gifting to heirs, there may be charities you feel strongly about and want to support them now and after your lifetime. To whom do you give and why? Is this something both you and your spouse are interested in? How will this affect your estate planning? Is your family involved in this cause?
We will take time to understand your desires in your charitable endeavors to accomplish your wishes and work with your family accountants and tax attorneys to make the most of the cause you love.
11) DISTRIBUTION OF ESTATE AT DEATH
If something should happen to you, are you confident that your family would be able to immediately understand and continue with what you’ve set in your wills, trusts, and other documents? Many family members don’t understand the complexities of those documents, so they lack a well-constructed plan to reflect the owner’s wishes and goals.
We will work with you and the person you have named as executor or trustee and successor trustee to help ensure they understand your goals, wishes, and the investment strategy that has been established. We work with our clients to focus on maximizing tax efficiency and making the most of asset distribution by asking the appropriate questions to determine the motivation that will lead to solutions.
12) TAX AND CHARITABLE INCLINATIONS AT DEATH
Do you have a specific intention in mind for your philanthropic giving? The contributions you make to the community and the causes that matter to you are also an important part of a life well lived. To help keep your memory alive, we will help you accomplish your charitable goals with direct gifts, donor advisor funds, private foundations, and trusts.
13) BUSINESS OWNER INTERESTS
The biggest risk in succession planning is not having a plan. You need to prepare for your successors and family, if different from the successors in your will/trust. This can be divisive for family members if you’re not prepared.
As a business owner, your business may be your largest asset. In addition to your personal retirement, lending, and insurance needs, your business and/or employees may require similar services. Also, you will need a business succession plan to help you gain liquidity and transfer ownership to another steward when you are ready.
We will determine which experts we need to partner with for your succession plan, help you minimize risks, establish long-term objectives that include the people who will succeed you, and determine what you and your company will need to continue without disruption.
CLIENT COMMITMENT
We want to emphasize that we value you as our client and we are committed to you. We believe that this is a relationship, and we have a partnership to reach the goals set by you in our meetings and going forward.
We ask all our clients to commit to meeting with us at least once a year, providing necessary information to be able to give us the complete picture of your financial life, along with some personal information that affects your financial landscape, so we can best understand how to manage the whole wealth relationship, not just a part of it. This will enable us to give you the best and most comprehensive advice.
We have or will be outlining our investment strategy for you through a separate set of documents. Strategy can change based on market conditions, or changes that take place in your life that warrant a change in how your assets are invested. This is why we feel that a regular review is necessary—to make sure we are on track to meet your goals.
We encourage you to learn more about our firm by visiting our website at www.jacobgold.com. You will find our latest research, educational videos, podcast episodes, and much more. Once a client, you will also be able to connect to all your accounts through our website.
Thank you for taking the time to learn more about how Jacob Gold & Associates, Inc. collaborates with their clients. Please don’t hesitate to reach out to us if you have questions. We look forward to showing you all that we can do for you.
Cetera Wealth Services, LLC exclusively provides investment products and services through its representatives. Although Cetera does not provide tax or legal advice, or supervise tax, accounting or legal services, Cetera representatives may offer these services through their independent outside business. This information is not intended as tax or legal advice.