How I Helped a Recent Client

| May 12, 2017
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As an experienced wealth manager, I’ve spent nearly 20 years helping families create successful financial plans to help fund their future needs and goals.  Every client interaction is unique and I place a lot of emphasis on clear communication, actionable steps and proper follow up.  

From personalized investment management to advanced financial planning, our comprehensive services are designed to address the complexities involved with planning for retirement and wealth transfer. My goal is to offer peace of mind and confidence in our abilities to help clients along their journey.   

Through the many clients I’ve worked with, I’ve seen how proactive financial planning with a high level of fiduciary care can make a significant impact on your financial future. Here, I’d like to share the story of how I helped a newer client recently, for the purposes of this example, we’ll call Sam.

Establishing Goals and Concerns

Sam and his wife are both successful business owners with three college age children.  They have both built very successful careers as business owners and have considerable savings.  However, they were struggling with how to plan their future retirement while paying for all three of their children’s college expenses.

They came to me with a desire to retire at a certain age (mid 50’s) and wanted to see if I could help plan a strategy that could help guide them there. While they had done a fantastic job saving, they now wanted a professional to help them with “landing the plane.”  This type of holistic planning approach is the type of value we bring to the table at Fiduciary Wealth Management.  

With every client, I believe it’s very important to spend time getting to know them and their specific needs and concerns. We spent some quality time talking, and I learned a lot about their family, work, goals, dreams, and concerns.

Creating a Realistic Financial Roadmap

We started the process by running a very detailed financial planning report for Sam and his wife to show a projected income from their portfolio at retirement and for the next 40 years. The income projections were very conservative with higher than normal inflation rate assumptions. Within the analysis, I uncovered the fact that their current investment portfolio had too much equity exposure given their overall risk tolerance.  Through our back-testing software, I was able to show them how to reduce their downside risk while not taking much growth away from the portfolio.  

We have developing an intelligent strategy to decrease this equity exposure, which will also decrease the overall downside risk to their investment portfolio. Additionally, using our financial planning software, I was able to give them access to their financial plan electronically through a web portal, and they can now adjust the parameters to see how different “what if” scenarios would impact their overall retirement outcome. So far, they’re enjoying having this tool available at their fingertips. It not only helps them feel more confident in their strategies, but also empowers them to make more informed financial decisions.

Next, we consolidated their IRAs to our firm. As they had several accounts with various brokerage firms, it was difficult for them to manage. Along with aggregating their outside holdings into our web portal, we helped them organize their accounts and now they can see everything in one place and track the investment performance of their entire portfolio in a much easier format. Each day, the values update so they have a detailed and current view of their investments, which they can access on their computer, tablet, or phone.

Following, we crafted a strategy to slowly average out of their low basis stock positions to spread the taxable gains over several years as opposed to just one. As they both receive high incomes, they face certain tax liabilities, so we are currently seeking ways to efficiently minimize their tax liabilities. On a regular basis, we will be coordinating with their CPA to make sure everyone is on the same page.  In addition, we have repositioned their fixed income to shorten their overall duration given the current interest rate situation.  

Based on their reactions, I feel confident that Sam and his wife enjoyed the value that we brought to the table and the step-by-step guidance provided. With their new strategies in place, Sam and his wife can feel much more confident as they work towards retirement.

Helping You

I work with a broad range of clients facing unique needs and circumstances. Whatever the situation, I strive to address them through a proactive process that focuses on understanding your personal situation, addressing your concerns, and creating strategies that help you work toward your goals.

If you’re experiencing a situation like Sam’s or face an entirely different need, I encourage you to reach out to me. I can evaluate your situation and share how I can help. There are no obligations, and your consultation is on us. Schedule a phone call now to get started.

About Rocklin Senavinin, CFP®

With nearly 20 years of experience in the financial services industry, Roc has dedicated his career to helping individuals live comfortably in retirement and enjoy the assets they have spent their career building. He is the founder of Fiduciary Wealth Management, a fee-only registered investment advisory firm in Little Rock, Arkansas. As a CERTIFIED FINANCIAL PLANNER™ professional, he has advanced training in the holistic process of creating a personal financial plan that addresses a person’s comprehensive needs for the short and long-term. Having built a successful career, he was named one of Arkansas Business’ 40 Under 40 in 2014, which honors intriguing business and political leaders under 40 years old. To learn more, connect with Roc onLinkedIn or visitwww.fidwm.com. If you have questions, feel free toschedule a phone call using this link!

The views expressed represent the opinions of Fiduciary Wealth Management, LLC and are subject to change. These views are not intended as a forecast, a guarantee of future results, investment recommendation, or an offer to buy or sell any securities. The information provided is of a general nature and should not be construed as investment advice or to provide any investment, tax, financial or legal advice or service to any person.

Additional information, including management fees and expenses, is provided on Fiduciary Wealth Management, LLC’s Form ADV Part 2, which is available upon request.

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