Financial Management

A Comprehensive Focus

The investment management process includes assessing one’s goals, assigning the appropriate risk/return parameters, constructing the portfolio with suitable investments, monitoring, and making adjustments as conditions evolve.  Veracity uses a diligent approach to strike the right balance between discipline and flexibility to account for changes in the market environment.

There are thousands of investment products and strategies available to investors.  You need someone experienced and objective to determine which are right for you.

Income tax planning is the proactive analysis of your tax situation in order to minimize a tax liability. This differs from filing a tax return in that the analysis and planning must be done during the tax year and prior to the due date of your tax return.  Given the complexity of the tax code and the ever-changing regulations, examining your income, deductions, and credits throughout the year allows for strategic and timely decisions to be made.

This also eliminates any surprises for a large balance due when you file your return in April. It's crucial to have someone analyzing this for you.

Clients typically hire a Financial Advisor to determine whether they have accumulated enough assets to retire and live the lifestyle they are accustomed to living.  This is undoubtedly important, but shouldn’t you take steps during your working years to put you in the best position to retire?

Whether it be choosing which type of retirement account to fund to whether you are on track to retire at an early age, these questions are best answered many years in advance of actually retiring.  There are many variables that go into determining whether your asset base is sufficient to last.  We would perform sensitivity analyze on spending levels and investment rates of return to give you the confidence to enter the next chapter of your life.

You’ve worked hard to accumulate your wealth.  It would be a shame for it to be distributed in a way not consistent with your desires.  Will your heirs have the appropriate level of access to the money and property that you have left for them?  Do your beneficiary designations take full advantage of tax deferral opportunities?   Will there be enough liquidity in your estate to pay any tax liabilities?  How will your minor children be provided for?

While it can be uncomfortable to discuss what happens after your death, it is better to express your intentions in a well crafted estate plan to ensure the legacy you leave behind is maximized.

Protecting your assets and wealth can be just as important as accumulating it.  These risk mitigating strategies could include property/casualty insurance to protect your physical assets, life insurance to protect your future earnings capabilities, or health insurance to protect against catastrophic medical expenses.

Do you need disability or long-term care insurance to protect against a loss of income or the rising cost of assisted living facilities?  The appropriate level of coverage for any of these insurance products can only be determined with in-depth analysis and a complete picture of your financial situation.

Comprehensive wealth management encompasses all of the topics above using a holistic approach.  Rather than trying to integrate pieces of advice and various products from multiple professionals, Veracity’s clients benefit from a central point of contact where all the services needed to manage their money and plan for their financial success can be handled. Should you start receiving Social Security benefits early?  Should you refinance or payoff your mortgage?  When should you exercise company stock options?

These are just some of the questions that are best answered after considering all aspects of one’s circumstances.