In their financial journeys, many people may question, “What’s the difference between wealth management and financial planning, if there even is one?” The terms are often used interchangeably. The truth is, though, that financial planning is just one key component within an all-encompassing wealth management strategy. Your wealth management strategy is a framework that defines…
Oftentimes, the complexity of developing and accumulating wealth includes not only how to handle and manage it, but even how to properly give some of it away. It can be complicated enough to try and understand the moving parts of your financial plan, let alone figure out estate planning aspects with gifting and how to…
As year-end approaches, it can be critical to evaluate your tax situation and identify strategies to implement. But, while there are many tax strategies to consider, it’s essential to know that different strategies will work better in certain financial situations. For example, while Roth conversions can be a powerful tax strategy for someone in early…
While many believe that a financial planner’s work focuses solely on your money, that’s not the case for most planners. Instead, a financial planner’s work revolves around helping clients maximize their life satisfaction by using money as a tool to do it. And typically, the financial planning process begins with a conversation about where you…
Mark Twain once said, “History never repeats itself, but it often rhymes.” So it is also with the financial markets. Just because a stock behaved in a certain way in the past, doesn’t necessarily mean that it will behave similarly in the future. Technical analysis is rooted in the pursuit of higher market returns based…
Finally approaching your retirement years is an exciting time. After decades of contributing to a meaningful career, planning the details of your ideal retirement is likely the next step for you to ensure a seamless transition to retirement. Our physician wealth management advisors can help! Account Structuring The way that your financial and investment accounts…
At seven years old, Jordan Grumet’s father died suddenly and unexpectedly. “I remember a lot about the day it happened,” he writes. “The fluorescent lights in the principal’s office while I waited to be picked up, the look on my mother’s friend Noel’s face when she arrived at school, the words my mother whispered later…
Our lives are ever-changing, which means the areas of our lives that involve money are too. Maybe a career move is approaching, or you’re thinking about buying a home, starting a family, or selling a medical practice. All the ever-changing stages of life lead to questions about our finances, how we manage them, and plan.…
Traditionally, we think of life insurance to help those that depend on our income in case of our death. Consider a family living on one income, for example. The father purchases a 20-year term life insurance policy for $1 million. If he were to die before the policy expired, the family would receive $1 million…
While the idea of sabbaticals—a paid leave for workers to travel, study, or explore interests—is relatively niche in the US, the concept is starting to gain steam in specific industries.