Have You Thought Of Everything?
You have unique issues, however, you also have a lot in common with many of our clients. They often don’t have the time, interest, or expertise to design, implement, and monitor a wealth management strategy. Do any of the questions or issues below have you concerned? We can help.
Illiquid Or Concentrated Positions:
Do you have an interest in your firm that is illiquid? You should consider the following:
- How are you factoring this interest and other assets into your overall asset allocation strategy?
- What factors drive your fund/stock performance? How are you hedging your portfolio risk?
- Have you factored the value of your business into your estate plan? Are you using this to leverage your gifting ability? How are you providing for estate liquidity?
- Are you actively managing the tax consequences of your interest in your firm?
Being Your Own Chief Financial Officer:
Are you dedicating time to properly develop and monitor your financial strategy? You may be missing opportunities:
- How often are you reviewing and making changes to your investment portfolio?
- How are you monitoring and adjusting your 401(k) plan to complement your portfolio?
- How are you creating an investment strategy across all your accounts?
- What is your strategy for putting new cash to work?
- Do you have a strong advisor team in place?
- Do you have an estate plan in place? Were the recommendations from your estate planning attorney implemented? Did you change the ownership of your assets? Did you change the beneficiary designations on your retirement plans and life insurance?
- Do you have all important documents centralized in an easily accessible, well-protected place?
Coordinating Multiple Advisors:
Are you managing multiple advisors? Proper coordination of your financial affairs is crucial:
- What is your strategy for overseeing and coordinating all of your advisors?
- Are you actively managing the tax consequences of your investment strategy across accounts?
- Have you done an overlap analysis to ensure you are not overweight in certain areas?
- How are you evaluating the quality of your existing advisors?
- Are your advisors implementing tax-efficient asset classes within your retirement accounts?
- How are you keeping track of different accounts and advisor relationships?
- Are you working with your advisors to implement tax planning strategies at year-end?
- If something were to happen to you, would your spouse and family understand all aspects of your financial life?
Our Clients Depend On The Lenox Personal CFO To Coordinate Their Total Financial Life
Many of our clients receive advice from multiple sources: accountants, attorneys, investment advisors, private bankers, insurance agents, etc. Lenox takes a leading role for our clients to coordinate advice from multiple professionals, implement this collective advice together with our best thinking, and monitor their wealth management strategy. Our proprietary financial planning platform called the ‘Lenox Personal CFO’ allows us to seamlessly integrate your entire financial life into a comprehensive plan giving you confidence that all your assets are working towards your goal.