Over the years, financially successful people tend to collect investments, insurance policies and other assets in a “financial junk drawer.” Often, their financial strategies are disjointed and not in line with their current goals, but who has time to organize this?
The Baker’s are in their late 40’s and both husband and wife are executives in large companies. They have 2 children and live very busy lives. While they are doing well, they have not been able to stay on top of their investment holdings and retirement planning while juggling work and raising children. They came to us looking for assistance to help quantify where they were and help map out a plan for the future.
Many of our clients come to us the same way the Bakers’ did, without a clear plan or vision for their financial success. They were accumulating assets, but felt they were paying too much in taxes and fees and felt insecure without articulated goals or a plan for passing their wealth to the next generation.
They had worked with other financial advisors in the past, but always left with “assignments” that they never got to, like filling out complicated questionnaires, sorting through piles of legal documents, stock certificates and account statements, and creating a budget and cash flow analysis.
The LionsBridge team understands that planning can be intimidating. It is easy to become paralyzed by complexity. This is why our first goal is to not overwhelm you. The Bakers’ brought us their “junk drawer,” we sorted through it and created a detailed flow chart and analysis. We then discussed what was important to them and mapped out a plan to help get them to their vision of retirement and security for their family. We continue to work with them to refine their vision of the future.
We call this the Family Wealth Statement.