Successful private practice and growing business opportunities, re-focusing on retirement goals
Profile:
At the midpoint of his career, a highly successful professional had spent considerable time and energy educating himself and maximizing opportunities for his thriving private practice. He was now ready to become more educated and focused on reaching his own long-term financial and retirement goals.
First, we helped him identify his wishes and dreams and how to finance them. Then we worked together to define a 15-year plan that allows him to focus on his practice while we help him manage his personal plan with clarity, confidence and enthusiasm.
Bradway Plan:
We spent a lot of time getting to know each other. The client told us that his professional life was getting busier and placing more demands on his time. He wanted to put together a retirement plan that gave him defined targets and specific goals. Once those goals were set, we told him how much money he would need to meet his goals and provide for his family. We also evaluated existing life insurance policies, trusts and beneficiaries relative to his current life circumstances and changes that had transpired since they were established.
High schools and universities provide very little education in personal finance, investing or managing risk. Like many driven and highly educated professionals, this client was unprepared to manage his money and had even less time to learn how to manage it. Bradway’s approach is to introduce clients to intelligent, simple and proven financial planning concepts. We discussed techniques and tools we use to minimize the risk of investing. And we defined the risk of the client’s investments. Through semi-annual meetings, the client is able to evaluate his progress toward meeting his goals and share any changes in his profile that may affect his financial plan.
The most important part of the planning process is the conversations that take place because we focus on getting to know each client. Thanks to their years of experience, our advisors have a firm grasp of the potential problems that a client may face. And they are prepared to provide sound, objective advice that can lead to solutions to those problems, all while understanding how these solutions will affect the existing financial plan.
