FINANCIAL PLANNING
Asset Allocation
The process of dividing investments among different kinds of assets, such as stocks, bonds, real estate and cash, to optimize the risk/reward tradeoff based on an individual's or institution's specific situation and goals. A key concept in financial planning and money management.
Retirement Planning
The process of planning for retirement, specifically in terms of making financial plans. Most often, retirement planning involves depositing money into a retirement account, and purposefully saving money for the future. There are many different types of retirement plans available, including an Individual Retirement Account (IRA) and a 401(k) plan.
Education Planning
A process of determining education needs and evaluating alternatives such as 529 Plans, UTMA, etc.
Insurance and Annuities
Planning for income replacement in the event of death or disability. Annuities can provide lifetime retirement income.
Tax Planning
Considering the tax implications of individual or business decisions throughout the year, usually with the goal of minimizing the tax liability. Estate Planning-The preparation of a plan of administration and disposition of one's property before or after death, including will, trusts, gifts, power of attorney, etc.
Wealth Management
A type of financial service that combines personal investments, tax planning strategies, and estate planning. It is designed to provide a broad array of services within the confines of one office.