We aim to be involved with every aspect of your financial life.
Wealth management is at the core of what we do, and we believe that it provides immense value to our clients. Of course our wealth management team is here to help you with traditional financial planning, tax planning and prep, and estate planning—but we go further.
We want to help you to create a family wealth transition strategy, provide you with a complimentary insurance analysis, and help you make important decisions surrounding Social Security and Medicare when the time comes. If you’re still working and have a 401(k), we want to make sure you’re invested the right way. Our clients call us about refinancing houses, buying or leasing cars, moving from one state to another, etc.
Tax Planning & Preparation
Efficient tax strategies include vigilant selection of particular investments, as well as the timing of the purchase and sale of those investments. Our tax-related review process involves an in-depth analysis of each client’s financial situation in order to align their financial goals with efficient and effective tax planning. Our team includes an experienced Certified Public Accountant (CPA) with a deep understanding not only of tax preparation, law and IRS regulations, but also of our investment strategies. This combination can help provide clients with the benefits and resources for efficient tax preparation and tax-related questions.
Your estate can only go to three beneficiaries: your family, charity, or to the government through estate taxes. Effective estate planning can help to lessen the impact that estate taxes may have on your estate, and may help from eliminating the legacy you have created over your lifetime.
Our estate planning strategy involves managing client portfolios to help ensure (in conjunction with a designated estate planning attorney) protection of the estate and to help leave a legacy to heirs. In addition to providing estate planning guidance, Reilly Financial Advisors will pay up to $3,500 toward the preparation of professional trust documents by an estate planning attorney for clients with $2,000,000 or more under management.
Just like a financial plan, your estate documents are living documents and need to be reviewed periodically to adjust for financial or lifestyle changes.
Our financial planning process is focused on working together with our clients to help them answer two critical questions:
- Will I Have Enough?
- How Much Risk Do I Need to Take?
This includes the process of helping our clients define their financial goals, whether it be paying for college tuition, achieving a comfortable retirement or traveling the world. We understand that each client has distinctly different needs and goals; our objective is to serve them appropriately.
Once objectives have been clearly defined, we evaluate clients’ assets to determine how to best fund their particular goals. The process involves intense evaluation, using both sophisticated software and traditional number crunching, and includes many types of analysis. We then provide clients with a detailed report, which includes a multitude of scenarios aimed at guiding a path toward reaching desired financial goals.
At Reilly Financial Advisors, financial planning is an ongoing process, not a one-time evaluation. We remain available to revisit the process continually, as circumstances and goals change and markets shift, in order to help clients stay on the right track.
We believe that understanding clients’ entire financial lives is critical to helping them achieve their goals. That’s why RFA offers clients a complimentary review of their home, auto, and umbrella policies—by a third-party consultant who doesn’t sell any insurance—in order to help them determine whether they have adequate coverage to thoroughly cover their losses in the event of an accident or claim.
Social Security and Medicare Analysis
The choice of when and how to claim Social Security will have big ramifications on your lifetime earnings. And when it comes to enrolling in Medicare, having a good understanding of the costs and coverages of different healthcare options is key. Your RFA Senior Wealth Advisor is here to assist you in both of these areas so that you can make informed decisions for your future.
Family Wealth Transitions
Creating a personal wealth transition strategy is about more than simply identifying your assets and beneficiaries. It’s an opportunity to communicate your final wishes, your values, and the legacy you want to be remembered by. RFA will be there for you as an unbiased third party to help you plan and communicate your strategy to family members, with or without disclosing accounts values. Should you feel comfortable disclosing account values, we’ll even provide your heirs with financial plans factoring in their projected inheritance, all at no cost.
Please Note: The scope of any financial planning and consulting services to be provided depends upon the needs of the client. RFA does not serve as an attorney, accountant, or insurance agent. RFA does not prepare estate planning documents, prepare tax returns, or sell insurance products.