the problem
There are wide variations in our understanding of financial matters. Some of us have worked on Wall Street, while others can hardly distinguish between equity and debt investments. Even for the relatively sophisticated, the business of banks and brokerage firms is complex, and the underlying client fees and costs can be hard to decipher. Monthly statements are often reviewed, if at all, robotically, and without the critical thinking of the issues behind the statements (e.g., asset allocation, yields).
the solution
We are not financial professionals and cannot take the place of your investment advisors. Instead, we supplement your financial team. Our job is to serve as an objective observer, a sounding board to hear your concerns, process questions and offer education and lay advice.
Breadth of our Services
In short, we act as a valued consultant and a second pair of eyes. We look at your financial situation and offer you our view (i.e., a knowledgeable lay perspective) on your financial life. We review your bank and brokerage statements. We consider your spending and cash needs. For example, if, at an advanced age, you are 100% in equities or if you are invested primarily in non-dividend paying growth stocks at a time when additional cash flow would be helpful to your lifestyle, we would raise the issue with you. We could also look at the title of your accounts to confirm that the titling is efficient for estate planning. We could also facilitate financial discussions between you and your family members and/or join you in conferences with your investment professionals. Our goal is to ensure that you understand your financial situation and offer you views if we believe that your cash management and investments may not be consistent with your financial goals.