Goal Based Investing
Benjamin Greenfeld, CFP®, Partner and Chief Investment Officer, illustrates the wisdom of an investment model based on needs and objectives.
More“We sometimes speak with potential clients who expressly ask us to ‘manage my portfolio’—in essence, simply monitor investments. We explain that in so doing we’d be ignoring all the other factors that significantly impact a client’s financial life, and request that they let us undertake a thorough review of their finances only after sitting down with them to identify and clarify their goals. One couple, who initially thought any goal setting beyond “maximize our investment” was unnecessary, came to realize its importance when we pointed out the vulnerabilities in their initial, investment-only plan.”
Our Advice
An investment plan with a poorly constructed estate plan meant that the client was potentially taking on unnecessary risk, with the government being the biggest beneficiary of the future gains.
Estate documents detailing how assets would be divided among children and charities did not include the proper follow-through to ensure those wishes would be carried out. We recommended a few simple steps such as changing the titling on some accounts and adjusting beneficiaries.
Client’s portfolio diversification had been based wholly on containing both equity and fixed income securities. We designed a portfolio allocation that was consistent with their ultimate goals. The new portfolio focused on generating cash in both the right timeframe and the amount needed to support their desired retirement lifestyle, while simultaneously building a legacy for their children and grandchildren.
John J. Waldron, CEO and Founder, highlights pre- and post-sale approaches to maximizing the sale of a business.
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Matthew Helfrich, Partner and President, relates how Waldron helps heirs grow into responsible stewards of their family’s wealth and legacy.
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Robert H. Wyche, Partner and Managing Director, shows how we help highly compensated corporate executives and other professionals to make the most of their compensation packages.
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Michael Krol, CFP®, CPA, Partner and Head of Wealth Advisory, explains how Waldron efficiently helps family offices provide expanded services for their clients.
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Robert H. Wyche, Partner and Managing Director, relates the story of a coordinated carryforward strategy.
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Sunny Erdman, Senior Wealth Advisor, relates how charitable intentions can be better coordinated.
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Benjamin Greenfeld, CFP®, Partner and Chief Investment Officer, illustrates the wisdom of an investment model based on needs and objectives.
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Kevin Searfoss, CFP®, CDFA™, Senior Wealth Advisor, puts all the pieces together to show the strength of integrated services.
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