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Our Services
We offer access to a wide array of comprehensive wealth management options. The following choices highlight the specific areas we focus on when creating financial plans for our clients. Through the LPL Financial Planning Desk our clients have access to multiple Certified Financial Planners (CFP), Chartered Life Underwriters (CLU), and Chartered Financial Consultants (ChFC) with decades of experience. The LPL Financial Planning Group supports our advisors, planners and assistants with advanced financial planning questions and concepts, retirement planning, college planning, comprehensive insurance needs analysis, charitable giving, business succession strategies, and navigating complex estate planning with their high net worth clients.
Financial Planning
Amid changing market cycles and investor’s unique financial objectives, a well-devised and executed asset allocation strategy is central to helping you achieve your long-term goals. We offer customized, fee-based financial planning options that incorporate all aspects of your overall financial picture into your plan. Contact us to get started.
Financial Planning Calculators
Financial Planning Articles
Retirement Planning
A successful retirement is a dream shared by every working American. Unfortunately, it remains just a dream for nine out of every 10 who find they do not have enough money to meet their retirement needs.
Experts estimate that to be successful in retirement, you will need at least 80 percent of the income you earned in your final working years.*
Our office specializes in helping our clients pursue their retirement goals by creating an investment strategy designed to address their needs. We can do the same for you, with independent advice and access to a comprehensive line of financial products and services.
* Social Security Administration
Individual Retirement Account (IRA)
These tax-deferred retirement accounts are set up for an individual that permits the individual to set aside money each year, with earnings tax-deferred until withdrawals begin at age 59 1/2 or later (or earlier, with a 10% penalty). The exact amount depends on the year and the person’s age. There are different kinds of IRA’s, including Traditional IRAs, Roth IRAs, and Simple IRAs.
401(k) plans
These defined contribution plans are offered by a corporation to its employees, which allow employees to set aside tax-deferred income for retirement purposes. In some cases, employers will match their contribution dollar-for-dollar. Similar to 401(k) plans are 403(b) plans for individuals who work at non-profit organizations, 408(k) plans for individuals who work at companies with less than 25 employees, and 457 plans for individuals employed by federal or state governments or agencies.
IRA Rollover Services and Transfers
A plan participant leaving an employer typically has four options (and may engage in a combination of these options), each choice offering advantages and disadvantages.
• Leave the money in his/her former employer’s plan, if permitted;
• Roll over the assets to his/her new employer’s plan, if one is available and rollovers are permitted;
• Roll over to an IRA; or
• Cash out the account value.
A roll over to an IRA is a tax-free reinvestment of a distribution from a qualified retirement plan into an IRA or other qualified plan within a specific time frame, usually 60 days. These transfers can happen when leaving a job at an employer who offered a retirement plan such as a 401(k). The company can issue a check for the amount minus 20% in withheld taxes. To avoid this penalty, the rollover must be done trustee to trustee, meaning that the check is made out to the new trustee or custodian of the rollover IRA. The company will provide the check and the participant must deposit the check into the new account within 60 days. Also called an IRA rollover.
Retirement Calculators
Retirement Planning Articles
Investment Planning
The enormous amount of information available to today’s investor means the big picture can be a bit overwhelming. We can help you sort through the clutter, bring your investment goals into focus, and design a portfolio to help work towards them.
Our independent advice is not based on sales quotas, company directives or proprietary investment products. And we offer access to a full range of non-proprietary investment products, including:
Stocks
An instrument that signifies an ownership position (called equity) in a corporation, and represents a claim on its proportional share in the corporation's assets and profits . Ownership in the company is determined by the number of shares a person owns divided by the total number of shares outstanding.
For example, if a company has 1000 shares of stock outstanding and a person owns 50 of them, then he/she owns 5% of the company. Most stock also provides voting rights, which give shareholders a proportional vote in certain corporate decisions. Only a certain type of company called a corporation has stock; other types of companies such as sole proprietorships and limited partnerships do not issue stock. also called equity or equity securities or corporate stock. Stock investing includes risks, including fluctuating prices and loss of principal. Small and Mid-Cap Stocks - The prices of small and mid-cap stocks are generally more volatile than large cap stocks.
Bonds
A debt instrument issued for a period of more than one year with the purpose of raising capital by borrowing. The Federal government, states, cities, corporations, and many other types of institutions sell bonds. Generally, a bond is a promise to repay the principal along with interest (coupons) on a specified date (maturity). Some bonds do not pay interest, but all bonds require a repayment of principal. When an investor buys a bond, he/she becomes a creditor of the issuer. However, the buyer does not gain any kind of ownership rights to the issuer, unlike in the case of equities. On the hand, a bond holder has a greater claim on an issuer's income than a shareholder in the case of financial distress (this is true for all creditors). Bonds are often divided into different categories based on tax status, credit quality, issuer type, maturity and secured/unsecured (and there are several other ways to classify bonds as well). U.S. Treasury bonds are generally considered the safest unsecured bonds, since the possibility of the Treasury defaulting on payments is almost zero. The yield from a bond is made up of three components: coupon interest, capital gains and interest on interest (if a bond pays no coupon interest, the only yield will be capital gains). A bond might be sold at above or below par (the amount paid out at maturity), but the market price will approach par value as the bond approaches maturity. A riskier bond has to provide a higher payout to compensate for that additional risk. Some bonds are tax-exempt, and these are typically issued by municipal, county or state governments, whose interest payments are not subject to federal income tax, and sometimes also state or local income tax. Bonds are subject to credit, market, and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price.
Mutual Funds
Overview
Mutual funds are a popular way to invest in securities. Because mutual funds can offer built-in diversification and professional management, they offer certain advantages over purchasing individual stocks and bonds. But, like investing in any security, investing in a mutual fund involves certain risks, including the possibility that you may lose money.
Technically known as an "open-end company," a mutual fund is an investment company that pools money from many investors and invests it based on specific investment goals. The mutual fund raises money by selling its own shares to investors. The money is used to purchase a portfolio of stocks, bonds, short-term money-market instruments, other securities or assets, or some combination of these investments. Each share represents an ownership slice of the fund and gives the investor a proportional right, based on the number of shares he or she owns, to income and capital gains that the fund generates from its investments.
The particular investments a fund makes are determined by its objectives and, in the case of an actively managed fund, by the investment style and skill of the fund's professional manager or managers. The holdings of the mutual fund are known as its underlying investments, and the performance of those investments, minus fund fees, determine the fund's investment return.
You can find all of the details about a mutual fund — including its investment strategy, risk profile, performance history, management, and fees — in a document called the prospectus. You should always read the prospectus before investing in a fund.
How They Work
Mutual funds are equity investments, as individual stocks are. When you buy shares of a fund you become a part owner of the fund. This is true of bond funds as well as stock funds, which means there is an important distinction between owning an individual bond and owning a fund that owns the bond. When you buy a bond, you are promised a specific rate of interest and return of your principal. That's not the case with a bond fund, which owns a number of bonds with different rates and maturities. What your equity ownership of the fund provides is the right to a share of what the fund collects in interest, realizes in capital gains, and receives back if it holds a bond to maturity.
If you own shares in a mutual fund you share in its profits. For example, when the fund's underlying stocks or bonds pay income from dividends or interest, the fund pays those profits, after expenses, to its shareholders in payments known as income distributions. Also, when the fund has capital gains from selling investments in its portfolio at a profit, it passes on those after-expense profits to shareholders as capital gains distributions. You generally have the option of receiving these distributions in cash or having them automatically reinvested in the fund to increase the number of shares you own.
Of course, you have to pay taxes on the fund's income distributions, and usually on its capital gains, if you own the fund in a taxable account. When you invest in a mutual fund you may have short-term capital gains, which are taxed at the same rate as your ordinary income — something you may try to avoid when you sell your individual securities. You may also owe capital gains taxes if the fund sells some investments for more than it paid to buy them, even if the overall return on the fund is down for the year or if you became an investor of the fund after the fund bought those investments in question.
However, if you own the mutual fund in a tax-deferred or tax-free account, such as an individual retirement account, no tax is due on any of these distributions when you receive them. But you will owe tax at your regular rate on all withdrawals from a tax-deferred account.
You may also make money from your fund shares by selling them back to the fund, or redeeming them, if the underlying investments in the fund have increased in value since the time you purchased shares in the funds. In that case, your profit will be the increase in the fund's per-share value, also known as its net asset value or NAV. Here, too, taxes are due the year you realize gains in a taxable account, but not in a tax-deferred or tax-free account. Capital gains for mutual funds are calculated somewhat differently than gains for individual investments, and the fund will let you know each year your taxable share of the fund's gains.
Open-End vs. Closed-End Funds
One of key distinguishing features of a mutual fund, or open-end fund, is that investors can buy and sell shares at any time. Funds create new shares to meet demand for increased sales and buy back shares from investors who want to sell. Sometimes, open-end funds get so large that they are closed to new investors. Even if an open-end fund is closed, however, it still remains an open-end fund since existing shareholders can continue to buy and sell fund shares.
Open-end funds calculate the value of one share, known as the net asset value (NAV), only once a day, when the investment markets close. All purchase and sales for the day are recorded at that NAV. To figure its NAV, a fund adds up the total value of its investment holdings, subtracts the fund's fees and expenses, and divides that amount by the number of fund shares that investors are currently holding.
NAV isn't necessarily a measure of a fund's success, as stock prices are, however. Since open-end funds can issue new shares and buy back old ones all the time, the number of shares and the dollars invested in the fund are constantly changing. That's why in comparing two funds it makes more sense to look at their total return over time rather than to compare their NAVs.
Closed-end funds differ from open-end funds because they raise money only once in a single offering, much the way a stock issue raises money for the company only once, at its initial public offering, or IPO. After the shares are sold, the closed-end fund uses the money to buy a portfolio of underlying investments, and any further growth in the size of the fund depends on the return on its investments, not new investment dollars. The fund is then listed on an exchange, the way an individual stock is, and shares trade throughout the day.
You buy or sell shares of a closed-end fund by placing the order with your stockbroker. The price for closed-end funds rises and falls in response to investor demand, and may be higher or lower than its NAV, or the actual per-share value of the fund's underlying investments.
Annuities
An annuity is a contract between you and an insurance company in which the company promises to make periodic payments to you, starting immediately or at some future time. You buy an annuity either with a single payment or a series of payments called premiums.
Some annuity contracts provide a way to save for retirement. Others can turn your savings into a stream of retirement income. Still others do both. If you use an annuity as a savings vehicle and the insurance company delays your pay-out to the future, you have a deferred annuity. If you use the annuity to create a source of retirement income and your payments start right away, you have an immediate annuity.
The two most common types of annuities are fixed and variable. There is also a hybrid called an indexed annuity, also referred to as an equity-indexed annuity or a fixed-index annuity. Variable annuities are securities and under FINRA's jurisdiction.
Annuities are often products investors consider when they plan for retirement—so it pays to understand them. They also are often marketed as tax-deferred savings products. Annuities come with a variety of fees and expenses, such as surrender charges, mortality and expense risk charges and administrative fees. Annuities also can have high commissions, reaching seven percent or more. Click here to learn more about fixed, variable and indexed annuities.
Investment Calculators
Investment Planning Articles
Catastrophic Needs/Insurance Planning
Many people don’t realize what an important role life insurance can play in planning for their future. Whether your goal is family protection, charitable giving, wealth accumulation, retirement planning, or estate planning, life insurance can help.
While we certainly don’t hope for the worst, we do need to be prepared for it. Catastrophic needs planning allows our clients to have the peace of mind to know that if something happens to them, their loved ones will be financially secure.
Life Insurance
A protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.
Term Insurance
A policy with a set duration limit on the coverage period. Once the policy is expired, it is up to the policy owner to decide whether to renew the term life insurance policy or to let the coverage end. This type of insurance policy contrasts with permanent life insurance, in which duration extends until the policy owner reaches 100 years of age (i.e. death)
Whole Life Insurance
Life insurance which provides coverage for an individual's whole life, rather than a specified term. A savings component, called cash value or loan value, builds over time and can be used for wealth accumulation. Whole life is the most basic form of cash value life insurance. The insurance company essentially makes all of the decisions regarding the policy. Regular premiums both pay insurance costs and cause equity to accrue in a savings account. A fixed death benefit is paid to the beneficiary along with the balance of the savings account. Premiums are fixed throughout the life of the policy even though the breakdown between insurance and savings swings toward the insurance over time. Management fees also eat up a portion of the premiums. The insurance company will invest money primarily in fixed-income securities, meaning that the savings investment will be subject to interest rate and inflation risk.
Universal Life Insurance
Life insurance which combines the low-cost protection of term insurance with a savings component that is invested in a tax-deferred account, the cash value of which may be available for a loan to the policyholder. Universal life was created to provide more flexibility than whole life by allowing the holder to shift money between the insurance and savings components of the policy. Additionally, the inner workings of the investment process are openly displayed to the holder, whereas details of whole life investments tend to be quite scarce. Premiums , which are variable, are broken down by the insurance company into insurance and savings. Therefore, the holder can adjust the proportions of the policy based on external conditions. If the savings are earning a poor return, they can be used to pay the premiums instead of injecting more money. If the holder remains insurable, more of the premium can be applied to insurance, increasing the death benefit. Unlike with whole life, the cash value investments grow at a variable rate that is adjusted monthly. There is usually a minimum rate of return . These changes to the interest scheme allow the holder to take advantage of rising interest rates. The danger is that falling interest rates may cause premiums to increase and even cause the policy to lapse if interest can no longer pay a portion of the insurance costs.
Long Term Care Insurance
Insurance which generally covers nursing home costs, home health care costs, and custodial care required due to a chronic illness or condition. Long term care is needed by those who can't perform the basic tasks required to take care of themselves.
Disability Insurance
An insurance policy that pays benefits in the event that the policyholder becomes incapable of working.
Life Insurance Calculators
Life Insurance Articles
College Planning
According to The College Board, a four-year public education for the freshman class of 2024 will cost over $169,668. Have you begun planning for the rising costs of education for your children? We can assist you in creating a strategy for becoming financially prepared for these costs by the time your children begin their college educations.
UTMA (Uniform Transfer to Minors Act) & UGMA (Uniform Gift to Minors Act)
Laws adopted by most states allowing an adult to contribute to a custodial account in a minor's name without having to establish a trust or name a legal guardian. Thus, minors can have securities bought and money invested in their names, but the custodian is responsible for managing the funds in the account. The custodian has a fiduciary duty to manage the account prudently, but once the minor reaches the age of majority, he/she has complete rights to the funds in the account. The assets are the legal property of the minor, and the parent has no legal control over the uses of the proceeds of the account. All withdrawals from the account are taxed at the minor's rate. Putting money into an UTMA/UGMA account can negatively impact the chances for financial aid, since financial aid officers weigh children's assets much more heavily than parents' assets.
Coverdell Education Savings Account
An investment vehicle designed to help parents fund their child's education. The Coverdell Education Savings Account has replaced the Education IRA. Contributions to the account are taxed, but earnings used to pay education expenses are not. The account is transferable among family members. However, there are several restrictions attached to this account. The entire account has to be disbursed before the beneficiary's 30th birthday, and any withdrawals after this date or for expenses that do not qualify under the act will be subject to income taxes and a penalty.
529 Plans
A state-sponsored program designed to help parents finance education expenses. Section 529 plans are administered by certain investment companies and subject to contribution requirements and investment guidelines. Withdrawals from the account are taxed at the child's tax rate, and anyone can contribute to a Section 529 plan, regardless of their income level. In most cases, the money is invested in a portfolio of stocks, bonds, or mutual funds. Most states offer Section 529 plans. The proceeds can be used only for education withdrawals for non-educational purposes trigger taxes and a 10% penalty. The investment company administering the account will be in control of how the money is invested, and will charge an ongoing fee for its services.*
*Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.
College Savings Calculator
College Saving Articles
Estate Planning
As we get older, protecting our assets so that we can easily pass them down to our children and grandchildren becomes a primary concern. We will work closely with estate planning attorneys who will be able to assist you with your creation of wills and trusts. Our goal is to help you prepare your estate so that your assets will pass to your family as smoothly as possible.
Trusts
Legal arrangements in which an individual (the trustor) gives fiduciary control of property to a person or institution (the trustee) for the benefit of beneficiaries.*
*LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.
Wills
Legally enforceable declarations directing the disposal of a decedent’s property. They are also called testaments.
Estate Planning Calculators
Estate Tax Planning Calculator
Estate Planning Articles
Goal Planning
Whether it is a car, a vacation, or a new home, we can assist you in organizing a savings strategy so that you can indulge in the finer things in life without worrying that doing so will break the bank.
Goal Planning Calculators
Goal Planning Articles
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