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Wealth Management

Our Wealth Management program is a full service financial relationship with LFA. We provide ongoing, in-depth reviews of your financial plan. LFA will address each unique situation as it arises, and provide financial coaching throughout the year. Your initial year will differ slightly from renewal years – the full program is outlined below, along with the differences from year to year. Please contact us if you’re interested in learning more!

FEE: Annual fee determined by income, assets, and complexity of work. Minimum $5000
Clients who have invested in LFA’s financial review program, will be able to apply their $900 investment towards the Wealth Management program, as long as a commitment is made within 6 months of their financial review.

Initial Year: Financial Advisory Value Proposition

Client Set-up / Diagnostics

Once you “sign on” as clients, we will help you gather and provide us with the information needed to make the client/advisor relationship effective and efficient. During the initial review, we conduct a broad review and evaluation of all aspects of your unique financial situation.

Case Management

“Cash is King”. We review your cash flow dynamics; i.e. earnings, saving, spending and debt levels are critical factors affecting the ability to meet your ultimate goals.

Goal Setting

One of the most important exercises used to facilitate articulation and prioritization of your short, medium and long term goals.

Financial Independence “Quantification of Goals”

“Being Financially Independent” is an often quoted goal by many of our clients. We will help you assess the financial implications of your goals, align them to your financial positions, decide on priorities and agree on a plan to implement.

Risk Management

You continually are faced with risks or uncertainties which could impede the attainment of your goals. We will help you identify your specific risks, evaluate their implications and recommend strategies to eliminate or at least mitigate their impact. A comprehensive review of insurance needs is a key component of this assessment.

Investment Strategy/Implementation

We will develop an investment strategy tailored to your unique situation ensuring it is aligned to your goals and within your specific tolerance for risk. Once authorized, we will help you implement the strategy in the most tax efficient way.

Tax Management

“It’s not what you make, but what you keep, that counts.” As Tax planner and preparers, we use our expertise to recommend strategies and their impact to legally minimize your tax burden as well as prepare and/or amend your tax returns as requested.

Estate Planning

Handing down a “legacy” to your loved ones is a very personal matter and of great importance to our clients. Whether it’s financial assets, personal effects, medical directives or ethical values, we will help you devise a plan and ensure your wishes are carried out.

Executive Compensation and Specialized Benefits

Provides understanding of specialized employee benefit plans and how to make the best use of them.

Business Planning

There are many financial and tax implications associated with owning a business. We help our small business clients understand and put in place strategies specific to their venture. We address issues across the business cycle from effective business formation through tax efficient operations and ultimately maximizing value at disposition.

Specialized Client Situations

Discuss and Address (as needed), Retirement, College, Marital Change, Real Estate, Monetary Settlement, Eldercare.

RENEWAL YEAR – FINANCIAL ADVISORY VALUE PROPOSITION

As a General Rule…Each session we will consider your goals and their implications to your taxes,investments and estate planning.

Tax Management

We start the year by preparing your current year taxes and prepare projections as needed to ensure estimated taxes are paid timely. Tax planning strategies are discussed throughout the year with a check point before year’s end to ensure implementation.

Investment Strategy/Implementation

We will confirm your investment strategy is still appropriate given your personal goals and rebalance your portfolio to ensure consistency.

Cash Management

Keeping your cash management habits in line with your current financial situation is an important factor in wealth accumulation. We will help you stay on track, adjusting as needed.

Risk Management/Estate Planning

Staying vigilant over the implementation of critical risk management and estate planning strategies will help to minimize unplanned surprises. We will coordinate with third party professionals such as insurance agents and estate attorneys to make the implementation as smooth as possible.

“Ad Hoc”Life Transitions

Unfortunately many life transitions cannot be planned and they could have a significant impact on the ability to achieve your goals.

Employment Transitions: job change, promotion, loss of job, education/retraining, buy/sell/close/transfer business, gain/lose business partner, sabbatical/leave, retire.

Financial Transitions: buy/sell home, buy vacation home/timeshare, re-evaluate investment philosophy, debt concerns, consider investment opportunity, receive inheritance or financial windfall.

Family Transitions: change in marital status, start family, childcare expenses (hire childcare, special needs (ie; orthodontics, extra activities), education (inc. private school, college, tutoring), child marries, family event (Bar Mitzvah, trip), grandchildren, parent care, long-term care for parent/spouse/self, death of family member.

Legacy Transitions: increase benevolence planning/charitable giving, give special financial gifts to children (annual gifting, down payment for home), give parental pension (monthly stipend for parent), develop/change an estate plan, develop end of life plan (funeral expenses, living will).

If you are interested in the Lighthouse Wealth Management Program,
give us a call (732-747-6697) or fill out this form and we will get in touch!