NAVIGATE LIFE’S CHANGES with a team you trust
We all face milestones and challenges at different points in our lives – some we expect, along with others we don’t. Whether it’s a move, a job change, divorce, business succession, the death of a loved one, or an inheritance, transitions require significant decisions to be made, often while under emotional stress.
Over the years, we have started working with many of our clients during important transitions in their lives. In these times, we take our role seriously as a steadying voice, guiding them through hardships and into stability. We have built checklists and processes to make sure that nothing falls through the cracks, and that every option is understood and judiciously evaluated.
Having a financial plan in place, with written goals and timelines, provides a solid foundation for our conversations during transition. For example, we have seen the peace it brings to a widow when we can clearly demonstrate that she is still on track to more than cover her expenses after the loss of her husband. Financial stability doesn’t make transition easy, but an experienced guide can help.
Our services include:
- Survivor checklist assistance
- Networking sessions when seeking a new job
- Insurance audits and beneficiary reviews
- Business sale guidance
- Lending and banking solutions*
- Introductions to professional advisors
- Estate planning
Raymond James is not affiliated with any of the companies mentioned.
An example of how we can help
John and Mary, a happily married couple, were in their early 60s and preparing for retirement. They had been frustrated by the previous experiences they had with financial advisors and now had a collection of accounts and investments that were not oriented toward a comprehensive investment strategy, including a large concentration of stock in John’s employer. They were concerned that this collection of accounts and lack of diversification would prevent them from enjoying a well-earned retirement.
A hypothetical synopsis of how we may help
We took the time to understand their many financial goals, including paying for their daughter’s upcoming wedding and estimating what their monthly expenses would be in retirement, based on their lifestyle and penchant for traveling to exotic destinations.
We then consolidated their many accounts down to just a few, which enabled John and Mary to finally have a clear, holistic view of their financial picture. We then invested their retirement savings and reallocated their assets in a more balanced approach – using a long-term strategy oriented toward growth and a growing income stream. We also executed a plan to gradually decrease their concentrated holding in John’s company stock.
Unfortunately, John lost his management position just a few months later. We then guided the couple through this turbulent time, assisting with 401(k) education, healthcare decisions and networking to find a new job.
Years later, we received the sad news that John was diagnosed with a life-threatening illness. We carefully reviewed all life insurance policies and included the relevant data in their financial plan, then worked closely with the couple’s attorney and tax advisor to help ensure all accounts were designated properly to take care of Mary and their children. We were then able to assure John and Mary that they were in a good place financially, regardless of the challenges they faced with John’s health.
This investment profile is hypothetical and not indicative of any specific situations or clients. It is presented only as an example and not intended as investment advice.