Our Process
Our proven wealth management process begins with getting to know you – your goals, needs, and expectations. This allows us to provide the personal, relationship-based service you deserve so that our team can deliver a financial plan that meets you where you are – and takes you where you aspire to be.
Wade Financial Advisory's Proven Wealth Management Process
Discovery & Data Gathering
- Client to complete risk tolerance questionnaire and financial goals surveys
- Advisor to review copies of tax returns, paystubs, account statements, estate planning documents, insurance documents, budget
Annual Tax Planning
- Model current year tax situation in tax planning software
- Analyze how anticipated events during the year may impact tax liability such as a change of employment, presence of self-employment income, exercising options, sale of properties/concentrated stock holdings, inheritance, retirement plan distributions etc.
- Determine if safe harbor thresholds have been met- if not, provide recommendations for estimated tax payments or payroll tax withholding adjustments
- Recommend tax planning strategies that may reduce tax burden
- Coordinate tax planning with client’s in-house tax preparer or outside professional
Deliver Investment Strategy
- Determine appropriate investment portfolio given client’s goals, risk tolerance and time horizon
- Develop and implement customized, tax-sensitive portfolio transition
- Construct professional portfolio incorporating diversifying assets utilized by institutional investors
- Optimize tax-efficiency through asset location and continuous tax-loss harvesting processes
- Systematically rebalance portfolio and adapt investments to market conditions as appropriate
- Offer investment recommendations for 401k retirement and 529 college savings plans
- Provide real-time portfolio information via our online portal and mobile app
Review Employment Benefits
- Optimize use of available employee benefits
- Employee stock option, Employee Stock Purchase Plan, and Restricted Stock Unit reviews and planning
- Early exercise of stock options and filing 83b elections
- Setting up 10b5-1 plans to address blackout periods restricting stock sale
- Non-Qualified Deferred Compensation funding, investing, and distributions planning
Retirement Planning
- Optimizing retirement funding and investment selection for employees and the self-employed
- Feasibility of funding ROTH IRA Vs. Traditional IRA Vs. After tax 401(k) plans
- Distribution planning during retirement
- Tax reduction using ROTH conversions, Qualified Charitable Distributions, minimization of taxable gains
- Strategies for optimizing Social Security benefits and health care benefits during retirement
Insurance Review & Planning
- Review existing home, auto, umbrella, life, disability, and long-term care insurance policies
- Provide recommendations for policy improvements and referrals for insurance brokers who can source policy improvements
- Update periodically for changing circumstances.
Estate Planning
- Highlight the importance of establishing estate planning documents- provide an overview of the different estate planning documents that are necessary
- Review existing estate planning documents- educate clients about updates that may be necessary
- Provide referrals for qualified local attorneys
- Review and update beneficiary designations and account titling as appropriate
- Review periodically for changes in laws, goals, and circumstances
Deliver Financial Plan
- Model net worth, current budget, and anticipated future expenses
- Illustrate the impact of conservative rates of return and inflation on growth of net worth over time
- Answer the question “will you run out of money?”
- Demonstrate the impact of future plans to downsize, relocate, purchase additional properties etc.
- Update financial plan as circumstances change
Wade Financial Advisory's Proven Wealth Management Process
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Discovery & Data Gathering
- Client to complete risk tolerance questionnaire and financial goals surveys.
- Advisor to review copies of tax returns, paystubs, account statements, estate planning documents, insurance documents, budget.
Annual Tax Planning
- Model current year tax situation in tax planning software.
- Analyze how anticipated events during the year may impact tax liability such as a change of employment, presence of self-employment income, exercising options, sale of properties/concentrated stock holdings, inheritance, retirement plan distributions etc.
- Determine if safe harbor thresholds have been met- if not, provide recommendations for estimated tax payments or payroll tax withholding adjustments.
- Recommend tax planning strategies that may reduce tax burden.
- Coordinate tax planning with client’s in-house tax preparer or outside professional.
Deliver Investment Strategy
- Determine appropriate investment portfolio given client’s goals, risk tolerance and time horizon.
- Develop and implement customized, tax-sensitive portfolio transition.
- Construct professional portfolio incorporating diversifying assets utilized by institutional investors.
- Optimize tax-efficiency through asset location and continuous tax-loss harvesting processes.
- Systematically rebalance portfolio and adapt investments to market conditions as appropriate.
- Offer investment recommendations for 401k retirement and 529 college savings plans.
- Provide real-time portfolio information via our online portal and mobile app.
Review Employment Benefits
- Optimize use of available employee benefits
- Employee stock option, Employee Stock Purchase Plan, and Restricted Stock Unit reviews and planning
- Early exercise of stock options and filing 83b elections
- Setting up 10b5-1 plans to address blackout periods restricting stock sale
- Non-Qualified Deferred Compensation funding, investing, and distributions planning
Retirement Planning
- Optimizing retirement funding and investment selection for employees and the self-employed.
- Feasibility of funding ROTH IRA Vs. Traditional IRA Vs. After tax 401(k) plans.
- Distribution planning during retirement.
- Tax reduction using ROTH conversions, Qualified Charitable Distributions, minimization of taxable gains.
- Strategies for optimizing Social Security benefits and health care benefits during retirement.
Insurance Review & Planning
- Review existing home, auto, umbrella, life, disability, and long-term care insurance policies.
- Provide recommendations for policy improvements and referrals for insurance brokers who can source policy improvements.
- Update periodically for changing circumstances.
Estate Planning
- Highlight the importance of establishing estate planning documents- provide an overview of the different estate planning documents that are necessary.
- Review existing estate planning documents- educate clients about updates that may be necessary.
- Provide referrals for qualified local attorneys.
- Review and update beneficiary designations and account titling as appropriate.
- Review periodically for changes in laws, goals, and circumstances.
Deliver Financial Plan
- Model net worth, current budget, and anticipated future expenses.
- Illustrate the impact of conservative rates of return and inflation on growth of net worth over time.
- Answer the question “will you run out of money?”
- Demonstrate the impact of future plans to downsize, relocate, purchase additional properties etc.
- Update financial plan as circumstances change.
There is no time like the present
Contact us today to speak to one of our trusted advisors and learn how our team can partner, educate, and guide you on your path to financial confidence.
