By Wayne Wagner Jr., ChFC
I get a lot of questions about what sets Vizionary apart from most other wealth management firms. What have we worked hard to be uniquely known for? It's a good opportunity to revisit our foundational value. After all, it's an important question to have a clear answer for: why us?
Clients come to us for one thing fundamentally, and that is a sense of confidence. The foundational services we offer are vehicles to earn that confidence. The way we've built Vizionary is dedicated to delivering confidence in each one.
Personally-Crafted Asset Management
Those of you who own or manage businesses understand that it's not just your expertise that matters - it's how you deliver it. As a financial advisor, it's not enough to settle for a keen eye for the markets. It's incumbent on Vizionary to diligently look for the most effective, and efficient, way to deliver our services.
As a result, we pulled the business model apart of most of the major firms on Wall Street, and we looked for ways to improve how money gets managed. We wanted to make sure that it's managed in a cost-effective, fee-efficient way. When relevant, also a tax-efficient way.
The model we've established for handling our client's investments and other assets has become a major factor in their decision to partner with Vizionary. The deeper you dig into how we run our business, our hope is always that you find it aligns with our why. That why is serving you.
A Fuller Picture of Tax Management
Confidence in your asset management isn't the only part of a financial plan that you need to sleep well at night. You need to know that your taxes are being minimized and managed. You need to know that somebody's working with your CPA and integrating your multi-faceted financial world.
Your tax picture can involve your income tax, your capital gains taxes, and your long-term retirement planning along with the tax liability and estate taxes that will be due.
By partnering with our clients' CPA relationships, we help provide a fuller, more dynamic tax liability strategy. We believe that you've earned the money you made, and we're here to help you safely and legally preserve it.
As a result, tax management is often one of the first areas that many of our clients come to us to help.
An Intentionally Crafted Legacy: Estate and Legacy Planning
Our clients often look for a kindred spirit when it comes to the desire to build a legacy that continues to make a positive impact beyond their own lifetimes.
Your financial planning is a critical part of crafting your legacy, and you want to work with someone who understands your values. This can encompass anything from your cherished family and friends to organizations and causes you are passionate about.
Practically, that looks like identifying and leveraging the financial tools that posture your assets to continue the trajectory you want them to follow. Structured correctly, a values-driven estate and legacy planning strategy allows you to pass on the money and values that you want to craft your ongoing impact.
As your trusted partner, we help you oversee the process of making sure the people and the institutions you value get your money when you're gone. To touch on taxes again, we also help you to pass it along with the least tax impact to maximize the strength of your contributions.
Financial Independence and Income Planning
It's one thing to build a large net worth. It's one thing to build a large portfolio or a sturdy 401k. The truth is that one of the biggest mistakes we see people make is thinking that having a big retirement plan portfolio prepares them for retirement.
The fact of the matter is turning an asset into an income stream is an art and a science all its own. It's completely different from growing a portfolio on the front end.
As we help our clients pursue financial independence, it takes a different set of principles and tactics to preserve your ability to remain financially independent. This encompasses everything from managing health care costs, to age-adjusted tax changes, to contingency planning. The variables of life change as you enjoy those golden years.
What you need is a partner who can grasp your entire financial picture and help you chart a realistic path to the life, lifestyle, and legacy you want to mark your financial independence.
A Practical Approach to Health Care Planning
Statistically, if you're 65 and over, you've got a 72% chance that you're going to need some form of professional help during your lifetime to care for you. We call this long-term care or long-term health care planning.
Having confident answers to those questions is an important part of your financial plan. Questions like:
- Are you going to self-insure that risk?
- Are you going to offload that risk to an insurance company
- How should you construct the insurance plan?
- Are you just going to spend down all your assets and hope that the state will fill the gap there and die destitute? (Let's not plan on this one...)
Have More than a Plan. Have Confidence.
You've heard the saying too many times, failing to have a plan is planning to fail. We take it a step further than a plan - our goal is that clients ultimately come to us for security and peace of mind in all of these areas.
Our aim is the freedom to have an intelligent, informed confidence in your income planning, estate planning, charitable planning, tax planning, healthcare planning, and, yes, asset management.
I hope this is helpful for you. If this has been helpful to you or someone you know, please feel free to pass it along to someone who is looking for that sense of financial confidence. From all of us here at Vizionary Wealth Management, we're always here with perspective for the decisions ahead. Have a great day.