The Thirteen Wealth Management Focus Areas
at the Core of The Encompass Approach
At Encompass Financial Advisors we have identified thirteen essential focus areas that we feel must be addressed in the lives of most of the people we serve. Some of these focus areas may not presently apply to your situation. You may also have multiple focus areas, and you can prioritize the order of importance as you choose to address them. It is important that you include all members of your professional team in the planning process, including your attorney, tax professional, and financial advisor.
Provide an asset allocation and portfolio review.
Assess your life, disability, and long-term care insurance needs in evaluating existing insurance.
Take into consideration your liabilities and net worth.
Qualified Retirement Plan/IRA
Review current contribution amounts, investment alternatives, and plan limits.
Prepare an exercise strategy for qualified and non-qualified stock options.
Business Succession Planning
Work with attorney to develop a succession plan designed to meet client's stated goals.
Durable Power of Attorney
Discuss existing Powers of Attorney, so financial advisor knows who is Agent and when Agent may serve.
Gifting to Children/Descendants
Assist in determining charitable gifting goals and work with attorney to identify opportunities for wealth transfer to heirs.
Lifetime Charitable Gifting
Assist in determining charitable gifting goals and work with attorney to identify possible charitable gifting strategies.
Titling of Assets
Review current titling of assets with client and attorney to determine if appropriate to help meet client's estate planning objectives.
Discuss existing executor/trustee designations in light of client's distribution goals.
Distribution Plan at Death to Spouse/Descendants
Assist client in identifying family wealth transfer goals and objectives and work with client's attorney in implementing estate planning documents.
Charitable Gifting at Death
Assist attorney in determining gifting strategies to help meet client's charitable goals at death.
Asset allocation does not ensure a profit or protect against loss.