What is the planning process like?
We get to know our clients to discover their deepest values and what is most important to them. Once this critical information is captured, we outline the steps that will be instrumental in helping our client's reduce taxes, protect their assets, plan their estate, and select the most appropriate insurance to protect their family.
Cash Flow and Debt Management
Properly managing your cash and debt is the foundation of financial stability and independence. Maintaining the appropriate reserve and cash flow needs will allow you to meet your goals.
In an attempt to diversify their investments, families often set up the same type of investment accounts with multiple financial institutions. They believe that this is an effective way to reduce risk.
Actually, diversification is about how your money is invested, rather than where it’s kept.
Instead of diversifying your investment, setting up multiple same-type investment accounts can actually have an adverse effect, as it makes keeping track of your investments a lot more difficult.
Other reasons to simplify your life by consolidating your assets are:
All families, regardless of means, need to plan. Don’t forget about merit-based scholarships. Because these are not predicated on financial need, but rather on the student’s scholastic and other achievements, they can become a major source of financial assistance. FAFSA, or its counterpart, the College Scholarship Service (CSS) form, is required in order to be considered for most merit-based scholarships. Playfair assists families with college readiness from early years. Click here to access our Academic Planning Merit Based Scholarship Planning Resource.
Executive Benefits Review
A benefits package is typically worth around 30% of your salary. Health insurance, retirement savings options, disability insurance and life insurance, legal services and in-office wellness perks. Some of these benefits may require you to pay premiums for coverage. Others are free and may actually save you money, either by reducing your spending elsewhere or by offering tax-advantaged savings options. We evaluate your benefits package, weigh each benefit based on how valuable it is to your family — and not just in the financial sense.
From retirement plan administration to succession and contingency strategies, our innovative plans make it simple for businesses to invest for their future. We offer built-in features to help business owners manage their fiduciary risk and reduce administrative responsibilities and expenses. Enjoy clear and transparent pricing so it’s easy to forecast and validate plan costs. Financial planning for business includes:
All insurance policies will be reviewed whenever there are changes in your financial situation that could affect your insurance needs. We will review each policy to make sure that you have the right types of insurance, for the right amounts and at the right prices. Our goal is to mitigate your:
Income Tax Planning
During the last two months of each year Kim will do serious income tax planning for you with two objectives in mind:
Once every five years or sooner if warranted, we will review and update your estate plan with the objective of:
But the most compelling reason is the one that draws client after client to our door: we deliver what we promise. That's why people choose us as their life advisor. That's why people plan with Playfair.