One of the most important aspects of investment management is determining your risk tolerance. As with everything at Buoyant, we are looking for a more “human” approach to this process. Behavioral finance teaches us the simple questionnaire-based approach may not fully reflect your complex feelings about markets and risk. Our discussions will focus on your feelings about risk, coupled with the potential long- and short-term implications so we strike the right balance. With your plan and risk tolerance in hand we’ll begin to make any necessary changes to your current investment portfolio.
Your assets likely live in a variety of places: retirement plans, college savings plans, bank accounts, home equity, employer stock options, and the list goes on. We will work to create a portfolio that looks across all accounts, taking advantage of the tax- and estate-planning implications, while looking to ensure your risk tolerance is implemented appropriately. If you have specific funds you’d like to consider, or a few you definitely want to shy away from for personal reasons, we’ll always listen and take that direction into account as well. While you will only be charged for assets under management on Buoyant’s platform, you will also be provided with direction on how to manage all accounts while paying no additional fees.
Taxes and Estate Planning
In addition to a financial advisor, we recommend you have an ongoing relationship with an accountant and an attorney. While we will discuss and consider the tax implications and strategies associated with investments, you should consult with your CPA for tax advice and assistance with tax preparation.
Like the CPA, your attorney is an important part of the picture as well. We’ll discuss your current estate plans and desires, but only a licensed attorney can create your will and any trusts that may also be appropriate.
If you already have an accountant and an attorney we are happy to work with them, or we can assist with finding you the right professional to fill those roles.
We begin creating your custom plan by gathering your entire financial picture into one central place. Taking advantage of leading technology, we can see where you are, where you want to be, and the various ways this can be accomplished. This technology also allows you to “play” with assumptions and see how different components of your financial picture relate to one another, such as social security, insurance, and how investments are drawn upon post retirement.
Once we have captured your current financial picture and goals, we’ll begin to implement a plan that addresses your personal long- and short-term needs.
As part of your planning process we will look at any insurance products you currently own, assess your insurance needs, and discuss any changes that may be appropriate.
Insurance products often behave like investment products, and often come with complex arrangements and fees that can be unnecessarily high. Our goal will be to create the most efficient use of these products, at the lowest cost basis possible.
If you do not currently own any insurance products, and we determine there may be a need, we will work with you to find the right product from the right provider.
Topics that surround your financial picture can be complex. It’s easy to see why getting all arrangements in place, and aligned with your goals, can take a bit of time.
We will be working and meeting with you regularly to continue to bring everything into alignment, continuously making necessary adjustments as your situation changes and evolves.
Our financial lives aren’t fixed, they are ever changing. We will always be there to manage and assist you through the changes; perhaps the most important part of our relationship.
We utilize a state of the art portfolio management system, MoneyGuidePro®, a collaborative internet-based financial planning software that offers a unique client-centered approach. The goal-based planning approach is meaningful to the client and more productive for the advisor.