Simplify Complex Financial Situations Case Study

Overview

Tom and Peg have had a hard time grasping their complex financial situation, which consists of several bank, brokerage and retirement accounts, real estate holdings in multiple states and complex company retirement, deferred compensation and stock option plans. They are very busy with their career, family and other commitments, and there is no one to help them understand the big picture and make good financial decisions on an ongoing basis.

Execution

PARTNERSINWEALTH consolidates their many accounts and eliminates redundant holdings, and simplifies their financial situation. Through the PARTNERSINWEALTH website, they have 24/7 access to an up-to-date summary of their financial picture.

 

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PARTNERSINWEALTH becomes a single point of contact to coordinate the work of Tom and Peg's advisors, saving everyone involved a great deal of time. Their advisors now have ready access to pertinent financial details as well as a client representative who "speaks their language”.

 

PARTNERSINWEALTH also improves investment performance by teaching them proper ways to invest.

 

Several times during the year, PARTNERSINWEALTH meets with Tom and Peg, their other advisors, or both to create forward-looking plans that take advantage of opportunities and avoid pitfalls.

Results

This strategic, 360-degree approach allows Tom and Peg to make better-informed decisions because they now understand their entire financial situation. For once, they feel like they control their finances instead of their finances controlling them. They are confident that they pay no more than their fair share of income taxes and are delighted with their low risk, high return investment portfolio. Overall, the client says they feel “so much more relaxed” about their financial situation.

 

Client Since: 2003