Who is wealth management for?
Wealth management combines financial planning with investment management in a holistic way. Clients typically have increasingly complex financial affairs and are looking for full implementation. Most of our clients are either:
a. Long-time savers approaching or in retirement who are seeking guidance on how to turn their nest-egg into income that will last the rest of their life. They understand that there are some pivotal decisions to make that could be the difference between an ideal retirement and just surviving. They want to work with someone who will look out for their best interests.
b. High-earning professionals looking to invest wisely, minimize taxes, and grow their wealth. They understand the value of delegating, but want to get value for their dollar and don’t want conflicted advice or hidden fees.
How will we work together?
- Introduction – Our first meeting is all about discovering what your life dreams are, and how your finances can help you live the life you want to live. We will figure out where you are today and how Switchpoint may be able to help you achieve your goals.
- Data Gather – Once we get an overall view of your situation, we will gather all of your account statements, tax forms, estate documents, etc. and develop a comprehensive view of your situation. We will analyze this information to develop a personal financial plan.
- Plan Delivery – A few weeks later we will meet again to go over your custom financial plan. In the plan, our wealth management firm will outline strengths and weaknesses in your current situation and provide specific action steps to take. Your plan may include the following topics, depending on your needs:
- Implementation – A financial plan is only as good as the effort made to implement it. We will help implement many of the action items, including obtaining additional insurance and opening investment accounts as needed.
- Ongoing Support – After initial implementation we will check in regularly to see how you are progressing and to answer any questions you may have. We are also available any time you have a question or need support.
- Investment Management – We provide full investment management implementation, which includes portfolio monitoring, rebalancing, and tax-loss harvesting.
- Regular Updates – As your life inevitably evolves, we will help you adjust your plan to meet your needs. We will meet at least annually to do a complete review of your plan and progress.
What does the wealth management program cost?
$4,800 per year per client relationship
As fee-only fiduciaries, Switchpoint doesn’t receive any kick-backs or commissions for selling you products. We believe that this provides two huge benefits to our clients:
- Unbiased advice – by sitting on the same side of the table as you, we can give the best advice possible for your situation, rather than pushing a product.
- Lower overall costs – Since we don’t receive commissions, we are able to implement your plan with lower-cost investment and insurance vehicles usually available only to large institutions, which we believe will result in lower overall costs for you over time.