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RP Wealth Advisors specializes in helping individuals and businesses develop sound financial strategies. We take the time to understand our clients' specific goals, values, and wishes. Our team is committed to offering each of our clients personalized, hands-on service.
We understand the many challenges of personal financial planning and wealth management today. Oftentimes, the biggest concern for our clients is outliving their money in retirement. We focus on money management, as well as other issues that are critical to your financial well-being.
When thinking about your present financial situation, and your goals for your financial future, consider the following framework we use with our clients: Build, Preserve, Adapt, and Give.
Build: Grow Your Wealth, Shape Your Financial Future
Building your wealth today may help lay the foundation for the future you want. Growing your net worth typically involves careful planning, an understanding of personal financial concepts, and long-term thinking. If you are just beginning this process, you’re not alone – according to the Financial Industry Regulatory Association (FINRA), “In the U.S., 46% of individuals lack a rainy-day fund to cover expenses for three months, in case of emergencies such as sickness, job loss or economic downturn. Individuals without this emergency fund lack adequate protection against financial emergencies or other shocks which may threaten their financial stability.”1
Whether you’re starting a business, building a home, or retiring, your assets should grow along with you. It’s never too late to start – we offer financial planning designed to help you build wealth at any point in life. The financial tools and strategies you use as you build and manage your wealth will each change with your timeframe, risk tolerance, and overall financial picture. Now is the time to lay the foundation for the next stages of preserving and transferring your wealth.
Preserve: Develop Your Financial Literacy to Protect Your Assets
As your wealth grows, you will likely accumulate bank accounts, retirement accounts, stocks and bonds, property, and debts. This financial stage requires more sophisticated financial planning that may seem overwhelming without the guidance of an experienced financial advisor.
RP Wealth Advisors can collaborate with you on a plan designed to help protect your assets and lifestyle while preserving your wealth. Preservation of wealth may give you greater peace of mind because you know your family will be cared for today and in the future. In conjunction with the preservation of wealth, we help develop our clients’ financial literacy to be equipped to use financial decision-making skills in real life situations.
To learn more about what we mean when we talk about “financial literacy,” check out our “Five Basics of Financial Literacy” guide.
Adapt: Simplify Life’s Transitions, Update Your Plan
When you go through a new or challenging experience in life, it can help to have a team to advise and support you. The RP Wealth Advisors team is here to listen, offer encouragement, and assist you with adapting your financial strategies to suit your needs. For all of our clients, we work to ease financial stress by reviewing assets and creating strategies to help ensure you and your family have enough income and your interests are protected.
Apart from working with you to “plan for the unexpected” or adapt financial plans to meet new needs, RP Wealth Advisors approaches financial well-being and wealth management as a continuous process that necessitates regular reviews, monitoring, and meetings. Our meetings take place based on the wants and needs of clients - quarterly, semi-annually, or annually. We frequently review account performance and updates in our clients’ financial circumstances to ensure our advice, plans, models, products, and services are aligned with clients’ goals. In each element - communications, planning, modeling, services, etc. - we take pride in our transparency and "client first" mentality.
Give: Your Impact on Future Generations
Our clients have various reasons for planning an estate, such as preserving family wealth, providing for a surviving spouse and children, funding children's or grandchildren's education, or leaving their legacy behind to a charitable cause. When you share your wealth with loved ones and charities you care about, you’re establishing a legacy of generosity that may inspire your beneficiaries today and for generations.
Estate planning, wills, and trust services are an integral part of RP Wealth Advisors’ comprehensive wealth management strategies. We position ourselves within your team, including tax and law professionals, to develop holistic strategies in line with your wishes for “leaving your legacy.” Planning ensures that your money and assets transfer to the people and charities you wish to remember. Appropriate strategies can minimize taxes while transferring maximum wealth, transition a business, or support the causes you are passionate about.
Suggestions to Guide Your Financial Decision-Making
In summary, as you build, preserve, adapt, and give, consider some of these wealth management guidelines as a reference from the previous sections:
- Structuring your investment strategies to support your life goals and retirement plans
- Assessing your cash flow and liability management needs
- Development of insurance and tax strategies for wealth accumulation and estate transfer
- Identifying any challenges with concentrated stock or stock options
- Analyzing tax consequences related to the transition of business
- Establishing a durable power of attorney, health proxy, and/or living will
- Assessing your wishes for wealth transfer, gifting strategies, and charitable giving
- Ensuring assets are appropriately titled for maximum advantage
- Establishing trustees who will represent your wishes and manage your estate
The experienced RP Wealth Advisors team is committed to putting the needs and goals of each of our clients first. Our financial planning and implementation process is based on our industry experience and professional relationships with other financial strategist and planners and investment managers. We’re here to help you start building toward the financial tomorrow you want.
1. “The State of U.S. Financial Capability: The 2018 National Financial Capability Study,” https://www.usfinancialcapability.org/results.php?region=US
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by RP Wealth Advisors to provide information on a topic that may be of interest. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.