Tom and Sara have had a broker for years at one of the global banks, and Tom’s brother is an accountant who handles their tax returns as a favor.
Tom has begun to question whether their broker has them in appropriate funds and whether his brother is keeping their capital gains taxes as low as possible. Sara has begun to question why these specialists never ask about trust funds for their young children or caregiving for their elderly parents.
When they come to IFP, Tom and Sara can receive our Financial Second Opinion. We show high net worth individuals what their other financial professionals may have missed. An IFP advisor would look over all of Tom and Sara’s assets and review the work of their other professionals.
Our concise report may reveal Tom and Sara are paying too much in fees for mutual funds and their portfolio could benefit from better tax-loss harvesting. We may also find the couple needs a more thought out estate plan and insurance strategy, to cover their multi-generational family needs.
For instance, their wills may need updating to match their intentions when they start those trust funds, which could incorporate homes and life insurance policies. Maybe Tom and Sara also should begin setting aside funds for a nursing home, in case their parents need additional care in the future.
After seeing all the potential solutions IFP has uncovered, Tom and Sara can feel assured in making us their full-time advisors. Then we can help them on a regular basis, so they can move forward with confidence.