The Benefits of Consolidation

Typically, we did not meet our clients until they were retired or were seriously considering a date to retire. It was common for them to have savings, investments and benefits at several financial institutions. One of our objectives, through integrated planning, was to coordinate, consolidate and simplify their affairs. Better planning, no conflicting advice, less confusion, more control over income flows, more efficient asset allocation and tax planning, fewer statements, simpler administration - and finally, more orderly, expedient and less costly wealth transfer to beneficiaries or the estate.

Consolidating your assets facilitates three keys to managing your investments effectively:

  1. Capital Preservation - protecting the value of your assets while investing for growth and income.
  2. Cost of Investing - enhancing your returns by controlling investment management fees.
  3. Tax Efficiency - reducing the tax you pay by such measures as controlling clawbacks, splitting income, or tax-efficient investing can go a long way to creating more spendable income.

Putting It All Together

A financial plan may include one or all of the following components. Sometimes, it is a huge step just to identify the various issues that should be addressed:

Retirement Income

Health Risk Management

Assist Children

Assist Parents

Estate Plans