NAVIGATING OUR CLIENTS TO REACH THEIR FINANCIAL GOALS

Your tell us the destination , we chart the course to get you there

INVESTMENT MANAGEMENT

401(K)

FINANCIAL PLANNING

LIFE INSURANCE

FAQ

Choosing a financial management team can be challenging. That’s why we’ve answered some of our most commonly asked questions here. Take a look – there’s a good chance the answer to your question is here. 

Wealth management is taking a holistic approach to your entire financial situation and finding the best way to protect and grow your wealth. That is, evaluating all of your accounts, policies, wills/trust, and other items that affect you, your family, and/or your business(es). From this due diligence, it allows us to formulate options that we feel best suit your needs and are tailored specifically for you as all of our clients require different solutions.

Much like GPS is used to reach a destination, Financial Planning is essential to accomplishing your financial goals. We’ve broken Financial Planning down into 5 steps, which can help make the path ahead less worrisome.

 

Step 1: Determine your current financial situation by doing due diligence on all of your assets, liabilities, income, and expenses.

 

Step 2: Look at your current and future goals and within what time frame you wish to accomplish them.

 

Step 3: Identify and evaluate the steps to accomplish those goals based on feasibility and make appropriate adjustments accordingly (i.e. cut costs, increase investments, etc.).

 

Step 4: Implement the steps to achieve your goals.

 

Step 5: As things change, continue updating the steps to implement and adjusting your goals and the respective timing, as a financial plan is always a dynamic process.

Life insurance is an essential part of protecting yourself, your family, and your assets. Traditionally, life insurance is used as a tool for risk management. However, in addition to risk management, we show our clients how to use life insurance as an essential tool in investing, estate planning, retirement planning, as well as tax planning. When used strategically, life insurance can help clients protect assets not only in their lifetime, but for generations to come. This is also true when it comes to minimizing taxes for their family during generational wealth transfer.

Estate Planning is the process of anticipating and arranging how an individual will want their assets managed and disbursed at the time of their death. When properly applied, it can minimize taxes (such as estate taxes, property taxes, etc.), as well as save a family from a lot of strife and heartache. In conjunction with a client's legal counsel, we help guide you through wills, trusts, powers of attorney, advanced healthcare directives, and other items necessary to protect your estate and to establish the proper order of disbursement after death.

When you work all your life to build a successful business, a concrete plan to sell or leave that business to loved ones and/or partners is essential. Below are 3 simplified steps to the business succession planning process.

 

First: Clarify what assets/equity you have in the business and what you may want to keep.

Second: Determine ways to protect, grow, and prepare to pass along what you have in the most efficient manner.

Third: Develop a concrete exit plan to sell or pass along your business and institute the plan according to your specifications.

This depends on multiple factors. Furthermore, it is based on whether you desire to have it as part of your overall financial strategy. As for the factors that go into the consideration of using life insurance, the most common are having a mortgage, children, spouse, desire to leave funds for your beneficiary(ies) and/or debt. When any of the above factors applies, life insurance is often a very useful tool to protect your family. It can help them pay a mortgage, school tuition, general monthly expenses, provide funds to your beneficiaries to help pay for a new home, and help cover any outstanding debt accumulated during your lifetime.

Financial Planning is a process that develops a plan for budgeting, taxes, retirement, education, insurance, and estate needs, which meets ones needs and goals.

 

Following an initial meeting/ interaction to establish your financial concerns and future goals, your financial data is gathered and analyzed to determine your financial situation. A financial plan is then developed as a recommendation of how best to meet your goals, taking into account your current financial situation.

An individual who assists you in developing and implementing a financial plan and investment strategy.

  • Step 1. Initial Interaction – In most cases clients will use our Financial Planning Tool to develop a profile of your investment objectives, risk tolerance and time horizon. 
  • Step 2. Create Personalized Financial Plan –we will gather and analyze your financial data. Then, comparing your financial situation to your unique needs and goals, we will create and present to you a specific, individualized financial plan. 
  • Step 3. Develop Investment Strategy – we will develop a personalized investment strategy that takes into account your risk profile and financial plan. The strategy will be designed to maximize your returns based on your risk tolerance, through a carefully diversified investment allocation that includes multiple asset classes and investment styles. 
  • Step 4. Implement Investment Strategy – we will invest your dollars according to the investment strategy discussed with you and outlined above.  
  • Step 5. Monitor and Rebalance Investment Portfolio – we will monitor your portfolio on an ongoing basis, to ensure it continues to follow your investment strategy, and rebalance assets as needed. 
  • Step 6. Report Results – we will discuss your portfolio’s performance at your review meetings and make any adjustments needed to your financial plan and investments, as your life changes.  
  • Your goals might include early retirement, travel, vacation home, or building a family business. TPG will lead you through a process to help you determine your goals and to prioritize them as necessary.
  • TPG will help you to meet your goals, by creating a customized financial plan, strategic investing and tax planning. As your life changes, your goals may too. TPG will continue to work with you in identifying changes to your goals and updating your plan.  

TPG suggests at least two reviews per year, or more as needed. At each meeting, we will discuss and evaluate any changes in your life, and make proper adjustments to your plan. We will also review your goals and how you are progressing towards those goals.  

As a general rule, if you’re the primary breadwinner of the house and there are people who depend on you for financial support, like a spouse, children, or aging parents, then you’re a good candidate for life insurance. Additionally, if you have debt that another person will have to assume, like a mortgage or student loan debts, it’s a good opportunity to look into life insurance.  

  • Life insurance can be used to cover a variety of common expenses, like:  
  1. Living expenses for your family 
  2. Burial expenses 
  3. Mortgages 
  4. Estate taxes that your heirs must pay for other assets 
  5. Mortgages 

The beneficiary is the person or entity named as the recipient of your policy’s death benefit. It can be a family member, a person unrelated to you, or even a business or other organization. You choose the beneficiary on your own. You don’t need permission from the insurer or the beneficiary. You can also choose more than one beneficiary, and designate how you want the death benefit to be split among them.

  • Technically a beneficiary does not have to do anything to receive your policy’s death benefit, but it’s a good idea to make sure he or she is aware that the policy exists in case there are any delays or complications on the insurer’s side.
  • The insurer will require proof of death and a copy of the contract to release the disbursement.

  • Life insurance is an essential part of protecting one’s family, one’s self, and one’s assets. Traditionally, life insurance is used as a tool for risk management.

  • However, here at The Pacific Group, in addition to risk management, we show our clients how to use life insurance as an essential tool in investing, estate planning, retirement planning, as well as tax planning.

  • When used strategically, life insurance can help clients protect assets not only in their lifetime but for generations to come. This is also true when it comes to minimizing taxes for their family during generational wealth transition. Determining how life insurance can aid in your family’s wealth creation and preservation is one of our strengths.

  • Life insurance is an essential part of protecting one’s family, one’s self, and one’s assets. Traditionally, life insurance is used as a tool for risk management.

  • However, here at The Pacific Group, in addition to risk management, we show our clients how to use life insurance as an essential tool in investing, estate planning, retirement planning, as well as tax planning.

  • When used strategically, life insurance can help clients protect assets not only in their lifetime but for generations to come. This is also true when it comes to minimizing taxes for their family during generational wealth transition. Determining how life insurance can aid in your family’s wealth creation and preservation is one of our strengths.

  • Life insurance is an essential part of protecting one’s family, one’s self, and one’s assets. Traditionally, life insurance is used as a tool for risk management.

  • However, here at The Pacific Group, in addition to risk management, we show our clients how to use life insurance as an essential tool in investing, estate planning, retirement planning, as well as tax planning.

  • When used strategically, life insurance can help clients protect assets not only in their lifetime but for generations to come. This is also true when it comes to minimizing taxes for their family during generational wealth transition. Determining how life insurance can aid in your family’s wealth creation and preservation is one of our strengths.

  • Estate Planning is the process of anticipating and arranging, while they are alive, how an individual will want their assets managed and disbursed at the time of their death.
  • When executed correctly, it can minimize important taxes (such as estate taxes, property taxes, etc…) as well as save the family a great deal of strife and heartache.
  • Here at TPG we guide our clients through Wills and Probate, and Power of Attorney steps, Trust Services, as well as Advanced Healthcare Directives. All of which come together to accomplish effective Estate Planning.

When an individual works all their life to build a successful business, a concrete plan to sell or leave that business to loved ones is essential. We’ve broken the process down into 3 simple phases.

  • First: We clarify what you have in the business and what you may want to keep.
  • Second: We determine wats to protect what you have, grow what you have, and prepare to pass along what you have in the most efficient manner.
  • Third: We help to develop a concrete exit plan to sell or pass along your business while staying with you through every step of the process as well as after the exit has been completed.
  • Generational Wealth is wealth that is passed down from one generation to another, through the accumulation of one’s assets for the future to provide financial security for their family.
  • At TPG, we will serve as a guide to do just that. Whether it is first showing you how to diversify your income or helping you be strategic while thinking ahead, or maybe it’s helping you get started early while being a strategic risk taker, we’ll help you develop and execute the necessary steps.
  • Being optimistic about wealth creation is not easy and should not be done alone. We serve as that partner and resource for you every step of the way.