GUIDING CLIENTS TO FINANCIAL CLARITY

Transcription

1 GUIDING CLIENTS TO FINANCIAL CLARITY Kirk Tassell, CFP 301 North Park Avenue Winter Park, FL Dan Novotny, CRPC, CFS 301 North Park Avenue Winter Park, FL

2 ABOUT OUR FIRM Our Mission We work directly with our clients and provide them with trusted personal and professional guidance to help them achieve their financial goals. Getting your financial house in order can be complex and overwhelming. With our process we help our clients simplify their lives and put all the pieces together. Our Commitment After working for leading Wall Street firms, we came to realize there must be a more client-centered approach in working with and assisting our clientele. Our client-first, client-centered approach has helped us grow our business and earn our clients trust throughout the past 15 years. As we move into the future, these values and our strong desire to help our customers achieve their goals drive our relationships and their results. This is our commitment to you. Retirement Planning Specialists We help our clients with all phases of retirement planning. Whether you are early in the accumulation phase, nearing transition to retirement, or are already in the retirement income and distribution phase, we can help you make a plan to reach your goals. Yield-Focused Investing Many of our clients are in search of income. Income can be an important part of the total return in a diversified portfolio. In this current low interest rate environment, we are constantly searching for value and opportunities within the stock and bond markets. We have been successful in helping our clients reach their income and total return goals. Our Value Proposition We are in pursuit of putting your wealth to work for you with our knowledge, skills, and custom-designed portfolios built to suit your needs. Let s get to work and make a plan to help you meet your goals for today, tomorrow, and for generations to come. 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 2

3 TEAM BIOGRAPHIES Kirk Tassell, CFP Investment Advisor, Managing Principal or Kirk Tassell is an investment advisor and managing principal of Breed s Hill Wealth Management in Winter Park, Florida. Since 2003, Kirk has been a CERTIFIED FINANCIAL PLANNER TM professional; furthermore, he has been advising affluent clientele for more than 20 years and has clients throughout the United States. Kirk provides individuals with a range of specialized, comprehensive financial guidance for investment, retirement income, and estate planning, as well as other wealth management needs. Kirk cofounded Breed s Hill Wealth Management with a goal of helping clients to bring all of the pieces of their financial lives together so they can be managed properly as a whole. Kirk s has helped his clients navigate through the extreme volatility in the financial markets throughout the past decade. With an emphasis on yield-focused investing and tax efficiency, Kirk provides his clients with custom portfolios suited to their goals and risk parameters. In 1997, Kirk began his investment advising career at Dean Witter Reynolds, Inc. (Morgan Stanley), training at 2 World Trade Center, New York, and working in Annapolis, Maryland. He was then recruited by TD Waterhouse/TD Ameritrade in Orlando, Florida, and accepted an investment advising position (for which he was responsible for asset allocation, portfolio strategy, and portfolio design for high-net-worth clientele). He then went on to work for Sun Trust Private Wealth Management as the portfolio manager for a wealth team. Kirk also worked as an investment advisor for Stockcross Financial Services, where he worked closely with the municipal bond trading desk and established a retail branch for the Florida region. In 2012, 2013, 2014, and 2015, Kirk earned the Five Star SM Wealth Manager award published by Orlando Magazine; additionally, he is a member of the Central Florida Estate Planning Council. Kirk specializes in portfolio management, retirement income planning, and tax-free municipal bonds. Kirk is from the Boston area and has lived in Winter Park, Florida, for 16 years. In 2016, he and his wife, Debbie, welcomed their baby boy, Matthew, into their family. Kirk enjoys skiing, surfing, cycling, and traveling. Education Hartwick College Oneonta, NY Bachelor of Arts in Business Management College for Financial Planning University of Central Florida Orlando, FL CFP Board Designation Washington, DC Industry Licenses FINRA Series 7, 31, 63, and 65 securities registrations Florida Life and Annuity License 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 3

4 TEAM BIOGRAPHIES continued Dan Novotny, CRPC, CFS Investment Advisor, Managing Principal or Dan Novotny is an investment advisor and managing principal of the Breed s Hill Wealth Management office in Winter Park, Florida. He has been in the financial services business since 1992, when he started his career at American Express Financial Advisors in Minneapolis, Minnesota. There, he obtained his registered representative brokerage license as well as his insurance licenses for life, health, and annuities. During the 1990s, his career and experience included working for Dain Bosworth, Inc., where he worked as a trader on the fixed income trading desk, trading unit investment trusts, and tax-free municipal bonds. In 1997, Dan obtained his branch office managers license while working for Waterhouse securities, where he also had a subsequent transfer to their Orlando, Florida, office. While in Orlando, Dan further worked as a senior vice president and investment specialist for TD Ameritrade. In June 2009, Dan joined StockCross Financial Services, Inc., where he worked as a senior vice president of investments and also served as the branch manager. Here, he continued his work with clients to help them manage their investments and reach their financial goals. His investing philosophy includes providing each client (and each account) with custom portfolio management services and strategies based on their unique set of circumstances. He strives to help them earn attractive tax-efficient returns while keeping portfolio risks manageable. Investments are made and routinely reviewed for appropriateness in achievement of stated long-term goals. He further believes in excellent relationships and service. In 2013, 2014, and 2015, Dan earned the Five StarSM Wealth Manager award by Orlando Magazine. Dan s investment specialties include overall portfolio management, asset allocation decisions, retirement income planning, and growth and income investing, as well as fixed income investments. Dan enjoys living in Orlando, Florida, along with his wife, Patty, and their two sons. Education Minnesota State University Mankato, MN Bachelor of Science Double-major in Business Administration and Finance CRPC (Chartered Retirement Planning Counselor SM ), College for Financial Planning, Denver, CO CFS, Institute of Business and Finance, San Diego, CA Industry Licenses FINRA Series 7, 8, 63, and 65 securities registrations Florida Insurance Licenses Life/Health/Annuities 4

5 INTRODUCTION TO COMMONWEALTH Just as you re free to choose the advisor you believe is best suited to help you meet your objectives, our firm benefits from the same freedom in selecting a firm to help us serve you. The partner we chose to help us help you pursue your goals is Commonwealth Financial Network, the largest privately held Registered Investment Adviser independent broker/dealer in the country, with $114.4 billion in total assets* and more than 1,710 affiliated advisors.* As a 100-percent management-owned firm, Commonwealth is not beholden to shareholders, stock prices, or a parent company. The firm can focus on a much longer time horizon than a public firm can and is free to invest in the kind of infrastructure, scale, and support that helps us maintain our own independent status and allows us to focus exclusively on what benefits you most. The client-centric values we share with Commonwealth, coupled with the firm s continually expanding resources, mean we re all working toward the same goal: to provide you with the exceptional guidance, products, and service you want and deserve. This includes: Investment choice. Commonwealth offers us robust, independent market research and a wide universe of third-party investment options from individual stocks and bonds to mutual funds, exchange-traded funds, alternative investments, managed accounts, and retirement plans. Our access to Commonwealth s expert, impartial guidance and a diverse range of products helps ensure that we remain free to operate in your best interest and to make recommendations based on your financial objectives, personal investment style, and risk tolerance without pressure to promote proprietary products or strategies. Responsive service. Commonwealth s business model centers on delivering indispensable service at every level of the organization so that we, in turn, can do the same for you. The firm s 2.2:1 advisor-to-staff ratio* is one of the best in the industry, which means that Commonwealth staff members stand ready to respond to our needs promptly and execute transactions quickly and efficiently. Integrated technology. Commonwealth s technology platform gives us a truly comprehensive view of your complete financial life, all in one place. This enables us to efficiently and easily review your financial situation, make updates and changes, and keep you apprised of your status through user-friendly web-based systems. A client portal allows you to see much of the same information we see online. Breadth of expertise. Commonwealth s team includes more than 45 staff with CFA, CFP, ChFC, and JD credentials, as well as niche-qualified specialists with experience spanning estate planning, taxation, risk management, business planning, and retirement planning. So however complex your needs, we can tap into the capabilities of some of the most knowledgeable people in the industry to provide solutions that align with your goals. Access to top management. Commonwealth delivers the scale and breadth of resources that are typically available at bigger, publicly held firms but with more personal service. The firm s uncommon approach gives us regular access to its 10 managing partners, who have an average tenure of 26 years. Access to this depth of knowledge translates into better, faster, more informed decisions for you. Business consulting. Commonwealth offers us complimentary in-house support to help us optimize our efficiency and ensure that our business model enables us to most effectively respond to your needs. Compliance support. We also benefit from legal and regulatory guidance to help us ensure that your investments and our firm s business practices are in compliance with the industry s myriad rules and regulations. These are just a few of the ways the firm goes above and beyond what most broker/dealers do, and why we feel so strongly about our partnership with Commonwealth. *As of December 31, 2016 Commonwealth is a member of the SIPC, which protects securities customers of its membership up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available on request or at North Park Avenue Winter Park, FL ktassell@breedshillwm.com 5

6 EXPERIENCE THE POWER OF A NETWORK OF PROFESSIONALS COMMITTED TO EXCELLENCE When it comes to financial advice, you certainly want the assurance that what you see is what you get. That s why our firm s approach to client relationships is to be clear and direct minus any jargon, confusing concepts, or superfluous information. But when it comes to choosing us as your financial professional, what you see is not what you get. Indeed, what you get from Breed s Hill Wealth Management is truly much more. We are not simply an independent financial firm; we are affiliated with a powerful network of professionals aligned to bring you the ultimate in service and professionalism. Strength in numbers Through our partnership with Commonwealth Financial Network, a Registered Investment Adviser broker/dealer, we gain access to unparalleled resources that we translate into indispensable service for our clients. With more than 1,710 affiliated advisors like us, Commonwealth is a national firm that has spent 38 years providing expert investment research guidance, access to top professional money managers, smooth transaction processing, and leading-edge technology. Combined, the 700+ professionals at Commonwealth have more than a millennium of financial services experience. Investment research Commonwealth s Investment Management and Research team helps us provide you with the highest level of investment advice. The team s expertise spans asset allocation strategies; advanced portfolio construction techniques; and analysis and monitoring of individual securities, alternative investments, exchange-traded funds, and more. The team also delivers timely insight into market opportunities and investment performance all to ensure that we re providing you with the best products and strategies to meet your objectives. What s more, Commonwealth has contracted with the elite providers in outside investment research, which gives us access to up-to-the-minute data on the universe of mutual funds, separately managed accounts, annuities, exchange-traded funds, equities, and select alternative investments. We will always have our finger on the pulse of financial markets and products. 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 6

7 EXPERIENCE THE POWER OF A NETWORK OF PROFESSIONALS COMMITTED TO EXCELLENCE continued Financial planning Because your life extends beyond the realm of your investment portfolio, the Commonwealth team also employs financial planning experts to assist us in addressing your planning needs and to provide us with leading planning tools and resources. The team consists of more than 45 professionals with the CFA, CFP, ChFC, or JD certification/designation experts who support us in delivering the solutions you need in estate planning, taxation, risk management, business planning, and retirement planning. Leading-edge technology Our world moves at a breakneck pace, and technology changes even faster. Commonwealth continually invests in development of its own leading technology solutions to better serve us and our clients. Fully integrated systems provide seamless processing of our business and enhance our ability to focus on your financial needs. With tools that allow us to easily review your financial situation, efficiently make updates and changes, and keep you apprised of your status through client-friendly systems, Commonwealth s technology is unique in our industry. And there s much more This is just a sample of the support resources Commonwealth brings to the table to help us help you. As you can see, when you partner with Breed s Hill Wealth Management, you get more than our wisdom, experience, and service you gain access to an entire network dedicated to our mutual success. 7

8 THE ROLE OF THE WEALTH MANAGER During the past 20 years, things have changed in the world of financial services. Investors have shifted away from relying on stockbrokers to make their investment decisions. Though equity and insurance brokers certainly provided access to a variety of great products, they offered advice only secondarily. The client who needed advice regarding taxation, for instance, had to consult a CPA. And, when somebody needed help planning for retirement, many stockbrokers struggled to assist. As investment products have become increasingly complex and investor needs have expanded, clients have turned from brokers to financial professionals. Individuals who used to pay for products and get guidance for free now pay for guidance while still getting best-of-class products. Because we believe that the trend toward guidance conforms to our client-first philosophy, we offer ourselves to you as wealth consultants. Wealth management is about replacing products with process. Instead of picking the hottest stocks, we rely on a strict investment methodology to help ensure that our clients portfolios are aligned with their best interests. Instead of trying to sell a particular life insurance policy, we assess your personal goals and needs before considering what sort of insurance might be appropriate. Instead of turning you away when you ask us to develop a college plan, we embrace you. Wealth management is a process-driven strategy that provides total professional services. The Wealth Management Pyramid WM Process Implementation Plans: retirement, income, college, tax, risk, business, estate Products: mutual funds, ETFs, stocks, life/ltc/disability insurance, annuities, separate accounts Independence lies at the core of wealth management. With no obligation to sell a particular product, we suggest the best-suited product. Knowing that there is no one-size-fits-all solution to personal finance, we strive to find the proper solutions for you. Our services range from coordinating an estate plan to managing risk, from income distribution planning to business succession planning. We have partnered with accountants and attorneys to help provide solutions to all of your financial needs, and we promote our clients, not a product. As a process-driven, independent wealth manager, we seek to provide invaluable financial guidance to high-net-worth individuals with complex planning needs. Our goal is to help you achieve your goals. Our strategy is wealth management. 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 8

9 WEALTH MANAGEMENT As you strive to grow your personal net worth, the financial challenges you face become increasingly complex. While some investors have a long-term strategy in place to grow their assets and manage risk within their portfolios, many do not have strategies for dealing with the tax implications that result from the distribution and transfer of the assets they have worked so hard to accumulate. Capitalizing on opportunities to preserve, grow, and transfer your wealth requires the sophisticated guidance of a professional who knows and understands your long-term financial goals. As an Investment Adviser Representative of Commonwealth Financial Network, I have the ability to offer wealth management services that address the complex financial planning issues that many of my clients face. Commonwealth s Wealth Management program provides me with the infrastructure to offer you a comprehensive array of services to help plan and manage your wealth. For the phases of your financial life Wealth management refers to the coordination of various strategies that encompass all phases of your financial life, from the accumulation of assets, to risk management, to tax strategies, to retirement and estate planning. The easiest way to conceptualize wealth management is to think of it as the logical transitions of your financial life: The accumulation of wealth. Construction of a solid, financial base sufficient to pursue your financial objectives. The protection of wealth. Creation of a strategy aimed at preserving your assets from erosion due to unexpected expenses, inflation, market decline, and taxes. The tax-advantaged distribution of wealth during life. Development of a sophisticated tax management plan to enhance your asset base by minimizing your tax burden and allowing you to distribute your assets according to your wishes. The tax-advantaged distribution of wealth at death. Planning for the controlled distribution of your assets at death to whom you want, when you want, and at the lowest possible cost. Strategies for complex issues Wealth management planning seeks answers to those tough economic questions and decisions that come with modern living. Commonwealth s Wealth Management program divides these issues into six modules each focusing on a different area of your financial life: Accumulation addresses your individual needs, asset allocation, and the suitability of different types of securities in light of your goals and risk tolerance. Accumulation strategies help to ensure that your investment portfolio remains closely aligned with your overall financial goals as you continue to build your asset base. Risk management works to minimize financial and other losses potentially associated with risks to your assets, business, or health. Some examples of risk are personal and professional liability, business ownership, property loss, and catastrophic illness or disability. Your first line of defense is to identify your sources of risk and then to either avoid or minimize the major exposures. 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 9

10 WEALTH MANAGEMENT continued Taxation considers the tax implications of individual, investment, or business decisions, usually with the goal of minimizing tax liability. While decisions are rarely made solely on their tax impact, you should have a working knowledge of the income or estate tax issues and costs involved. Business planning focuses on issues specific to business owners and shareholders. For most business owners, the business is their most significant asset, and the financial success of that business has an immediate impact on the economic security of the family. Without proper planning, you may have difficulty tapping the value of your business to support your retirement, or your family may lose the value of the business at your death. Retirement planning involves evaluating your current financial status and creating an accumulation strategy that will help to ensure your desired retirement lifestyle. Because your retirement years can span decades, retirement planning generally dominates other financial goals. A successful plan put into place during the wealth-building life span should address ways to maximize growth and tax-efficient distributions, as well as how to leave retirement assets to the next generation. Estate planning creates a master plan for the management of your property during life and the distribution of that property at death. For most people, estate planning gives you more control over your assets during your lifetime, provides care when you are disabled, and allows for the efficient, low-cost transfer of wealth at your death. While not all of these modules will apply to your situation, we believe that identifying and addressing those that are pertinent will help you to better manage your financial future. Planning for the long term No matter what your level of wealth, working closely with a trusted professional who knows and understands you can help you target your goals. Working together, we can help you simplify the complexities of your financial life by focusing on your wealth in a systematic way and implementing a plan that will benefit you for the long term. Commonwealth Financial Network does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation. 10

11 WHAT IS A FINANCIAL PLAN AND WHAT ARE ITS BENEFITS? Financial plan (fǝ-năn shǝl plăn), noun 1. A written document detailing the short- and long-term steps that we will take as we strive to meet your financial goals and objectives 2. A road map of what s to come; a guide until circumstances change, at which point we will consult with you about modifying the plan 3. A strategy or series of strategies involving multiple aspects of your financial situation designed to bridge the gap between where you are today and where you want to be tomorrow Developing a financial plan follows naturally from identifying goals, objectives, and existing positions. The first step of the wealth management process told us what you wanted and required in terms of dollars, risk, insurance, retirement, and beyond. The second step revealed your present circumstances. Now, having placed the two side by side, we are putting a series of action steps in writing that are specifically intended to get you from here to there. We believe that wealth management is not just about working for you; it s about working with you. For that reason, a financial plan should not surprise you. It should serve as a record of the steps that we ve decided to take together. While it is not product-specific, it will state which types of products we may or may not direct your assets toward. A financial plan may include an income plan, a distribution plan, a retirement plan, an insurance review, an Investment Policy Statement, and an investment proposal, and it will always contain an action plan. For the short term, this document will serve as our guide, but it is a living document subject to modification as time passes. It is crucial that we update the plan periodically to coincide with your changing financial needs, goals, and circumstances. In some cases, there may not be a gap between your existing positions and your goals and objectives. Other times, your goals and objectives may be out of reach given your present situation. Regardless, the financial plan will still serve as our blueprint as we manage your wealth. The goal of a financial plan: to narrow the gap between where you are and where you want to go Goals and Objectives Financial G A P Plan Existing Positions 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 11

12 HOW DO A FINANCIAL PLAN AND INVESTMENT MANAGEMENT WORK TOGETHER? What is a financial plan? A financial plan is a strategy to help you reach your goals. Through data gathering, analysis, and guidance, an advisor creates a road map that leads you to financial comfort during your life, while allowing for the efficient transfer of assets to your heirs. Financial planning is an ongoing process driven by your changing needs and goals. A financial plan includes macro considerations, such as: Asset allocation planning: A series of asset classes and allocation strategies that seek to help meet your needs, based on your risk tolerance and investment objectives Education planning: College savings and education planning topics, such as student loans and financial aid Retirement income planning: The development and refinement of a distribution plan for your nonworking years Estate planning: Practical guidance necessary to coordinate your estate planning/wealth transfer needs Tax planning: Coordination with you and your tax professional to minimize your tax liability Trust planning: Choosing from a range of trust strategies to help meet asset protection and wealth transfer goals Financial planning is the umbrella under which investment management functions. What is investment management? The financial plan is one piece of the puzzle the road map that outlines your goals that opens the door to the investment opportunities that help you pursue those goals. Investment management is typically carved out as a separate service due to its distinct and complex nature. How we ultimately shape your investment portfolio is based on a collaborative effort, and the result is something we monitor regularly. The investment recommendations and services we provide are designed to support the personal needs and goals outlined in your financial plan. Considerations for these activities may include, but are not limited to: Risk tolerance: What level of risk are you comfortable with? Investment monitoring: What type of attention does your investment require? Investment selections: Where would you like to invest? Contributions: Will you contribute to your plan over time or will you make a single, up-front investment? Charitable giving: How might your philanthropic goals affect your investments, especially when considering topics like taxation? Advanced insurance planning: What safety nets will your investments require as your assets and responsibilities grow? With financial planning as the foundation and investment management providing the necessary building blocks, we can work together to help you pursue your short- and long-term goals. Asset allocation programs do not assure a profit or protect against loss in declining markets. No program can guarantee that any objective or goal will be achieved. 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 12

13 MONITORING YOUR WEALTH MANAGEMENT PLAN Life is a story of change. As time passes, your preferences, goals, and needs are likely to evolve. Not only will these situations affect your life, but they are also often significant considerations when building and monitoring a financial plan. The birth of a child will impact the way you save. The death of a parent may present taxation issues. The maturation of your business could raise concerns about a succession plan. And an impending retirement, college tuition bill, or job change, not to mention changes in your health or marital status, can have a dramatic impact on your financial situation. A financial plan is only as good as the personal knowledge that goes into building it. We pride ourselves on developing strong relationships with our clients, and this intimacy between financial professional and client tends to result in financial plans that are better suited to meet your needs. Time moves all things, and when it modifies your lifestyle, investment objectives, or risk tolerance, it is crucial that you communicate those changes to a trusted wealth consultant. While you might have balked at a laddered bond portfolio in your 40s, you may embrace one in your 60s. While you may have seen no need for life insurance before having a child, now you may seek a life policy. And whereas your income needs may have been great 10 years ago, you might be able to save more and spend less as you age. Staying abreast of your personal situation and evolving financial goals and needs is our priority. So that we can better service you. So that you can be confident in our planning. Because a financial plan is only as good as the personal knowledge that goes into building it. 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 13

14 WHERE DO WE ADD VALUE? With so many professionals, corporations, and even websites offering investment advice, it s easy to get confused by the array of services, products, and plans. Prospective clients often ask us, Where do you add value? What distinguishes you from the pack? What follows is a brief response designed to assure you that partnering with our firm could be among the wisest decisions you ever make. There are literally hundreds of thousands of people in the field of financial services who act as investment advisors, managing a client s portfolio for a fee or earning commissions on trades. But few of them ever consider doing anything beyond investments. We believe that we can offer superior investment guidance while providing something more comprehensive wealth management. Our approach to planning is carefully designed for our clients. Our planning services are as unique and diverse as the clients we serve. Because there is no cookie-cutter solution when it comes to managing our clients financial futures, we stock our shelves with the finest financial ingredients and cook up customized solutions that leave our clients calling for seconds. The cooking analogy aside, we partner with our clients to help make their goals a reality preserving their wealth, preparing for tomorrow, and putting it all together. As stated above, accumulation of assets is just one of several areas that we focus on. We also provide expertise in retirement planning, estate planning, risk management, taxation, business planning, and asset allocation. This commitment to a life planning approach makes financial planning personal and addresses specific individual needs. We employ a dynamic educational process that allows clients to visualize their personal goals and model the financial consequences of their choices. We rely on state-of-the-art software to plan and illustrate our strategies. We have partnerships with CPAs, attorneys, and other professionals dedicated to working as a team to meet all aspects of our clients needs. Most important what separates our firm from the others are the relationships we develop with our clients. We built our firm based on the fundamental elements of mutual trust, honesty, and respect, which helps us better strive to help make your goals a reality. 301 North Park Avenue Winter Park, FL ktassell@breedshillwm.com 14