While 2018 was a turbulent time for a variety of reasons, it is important to remember that every new year brings new opportunities. And while it may only be March, it is never too soon to start planning how you will budget and invest over the next 9 months.
Many have begun organizing for tax season, which is an ideal time to start thinking about the financial year ahead. Despite the government shutdown(s), House Committees and the IRS were busy navigating the Tax Cuts and Jobs Act changes that will impact everyone. If you still have questions about the changes brought forth by the 2017 Act, please be sure to read our “Implications of the new tax code” piece published In March.
Preparing taxes are the first step, but as with most things in life, it is important to have a vision – and a plan of how to best achieve it. Building and maintaining wealth is a full-time job that requires a multitude of individuals with varying areas of expertise. Each individual, family, or institution is unique, which is why we are proud of our commitment to provide each client with a tailored plan for achieving their goals today while building a foundation for the legacy they will leave behind.
One of our core beliefs is that arriving at the right solution begins by asking the right questions. That’s why time spent with our clients is so important, as we learn about their plans and how the prior year may have triggered changes to their goals and aspirations.
Tax planning: We build a comprehensive understanding of a client’s tax exposure. Taxes are a large expense item, making them an integral part of the financial planning process. Working with clients to find efficiencies so they can better achieve their financial goals is a critical step.
Estate planning: Regardless of a client’s overall financial situation, discussing an estate plan is an essential part of financial planning. Having an appropriate estate plan can help reduce taxes while facilitating the movement of assets and protecting beneficiaries.
Charitable giving: Many of our clients prioritize giving to organizations and causes they support. In fact, charitable giving is a pillar of a wealth management strategy that helps address unique needs and has a direct impact on tax exposure. Our role is to help clients think through the most efficient ways they can direct their capital to achieve their giving goals now and well into the future.
Portfolio construction: The financial planning process leads to deeper, more meaningful conversations that help us better understand the impact that taxes, estate planning, and charitable giving have on long-term goals. We can then build and maintain a tailored plan and investment strategy that meets clients’ specific risk, return, and income needs. Through this long-term lens, we create sustainable portfolios that align with our clients’ values and stay rooted in sound investment fundamentals.
To learn more about our financial planning and wealth management services, please email email@example.com or call us directly at 617-226-9999.
DISCLOSURE: This material is proprietary and is produced by Reynders, McVeigh Capital Management, LLC, including its division Fresh Pond Capital (collectively, “RMCM”) for educational and informational purposes only. This should not be construed as a research report, a recommendation, or investment advice, and should not be relied on as such. The opinions expressed in this material are subject to change and represent the current, good-faith views of RMCM at the time of publication (March 2019). All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed, and RMCM disclaims any duty to update any of the information and data contained herein. Certain statements may be deemed forward-looking, but any such statements are not guarantees of any future performance and actual results or developments may differ materially from those discussed. There is no guarantee that investment objectives will be achieved or that any particular investment will be profitable. Past performance does not guarantee future results.