Personal wealth management

Managing wealth

I manage wealth for families and individuals customizing strategies to meet their personal financial goals. Everyone is a unique mixture of risk taker, capital preserver and lifestyle. I strive to treat each combination on an individual basis.

No matter how you are creating your wealth or where it came from, the key components of wealth management are integral to the success of your financial life. Business owner, corporate executive, heir or entrepreneur all need to follow the proper steps and stages of wealth management.

Planning

This is the road map where current facts and future goals meet to create your personal financial strategy. The RBC WealthPlan is a comprehensive analysis that provides you with an assessment of where you stand, allows for dynamic “what if” scenarios, can be adjusted and reviewed as desired and monitored by you on an ongoing basis. Every client and some prospects are entitled to this service, monitored by myself and our team of planning specialists. More details about the WealthPlan are available on the WealthPlan Tab.

Accumulation

Saving and investing are the components of wealth accumulation. The former is in your hands based on earning power, discipline and sometimes good fortune. Investing is making money on your money. That requires a strategy.

While the accumulation phase is primarily focused on growth – having your assets increase as much as possible – your own personal risk profile is still pertinent. On one end of the spectrum is aggressive growth, investing for the greatest potential regardless of short-term volatility. On the other end are those who can’t tolerate losses even when temporary. Our goal is to locate the ideal spot on the spectrum where each client is growing and comfortable. Time horizon is key.

Additional considerations for customization include:

• Active vs. passive
• Concentration vs. diversity
• Profit taking vs. holding

Lots of decisions to be made. This is why we emphasize custom wealth management. The final strategy will be based on you and your assessment of these factors together with best practices.

Retirement income

This is where you turn the planning and accumulation into living. All the work you’ve done, all the saving and investing and planning will be turned into asset producing income that will provide the lifestyle you want for your entire life and beyond.

Whether you are a business owner who is harvesting the equity you’ve created through a sale, or an executive or employee cashing in the benefits you and your company have collaborated on, this is the payoff you have been working towards. If your planning was good; if the timing and execution of your decisions and the adjustments you’ve made were driven by that planning, then you should be in good shape and ready to enjoy the next phase of life as planned.

But income investing is different than growth investing. Certain options maybe new to your portfolio or assume a more important position such as bonds, dividends, structured products or even annuities for those who want more dependable income. We custom structure your portfolio to accommodate your lifestyle, your risk tolerance and your legacy goals for your loved ones.

Legacy and risk

Protecting what you’ve accumulated is important at every stage. Procuring and reviewing the various insurances should be part of your game plan on a periodic basis. We can assist you with this as well as offer a few special services including business key man and buy/sell plans, life insurance premium financing and complimentary Medicare consulting with independent specialists.

If all the above is present and accounted for, and the last check isn’t going to bounce, your financial legacy should be attended to. RBC clients get complimentary assistance with our internal estate specialists, who will “be by your side” until the last I is dotted and T’s are crossed.