Personal Financial Planning

Constructing a fully integrated financial plan is a process and involves several steps. Each one is important, and all must be coordinated if your financial plan is to succeed. At Marquis, one of our professionals (see the team member bio tab for the professional credentials for each individual) will guide you through each step and help you to clearly define your goals. A detailed financial plan is accompanied by a personalized cover letter summarizing the financial plan as well as our action steps and recommendations. Financial plans are prepared for Wealth Protector and Wealth Manager clients and are included as part of our ongoing management fee. Construction of a financial plan is also available to Wealth Builder clients, and on a stand-alone basis at an additional fee negotiated at the time of the engagement. With this plan, we will be able to assist you in developing a strategy for your financial future, one that is designed to meet your specific goals and objectives.

Financial planning is an ongoing process. As you achieve one goal, another will likely take its place. We will revisit your financial plan periodically with you in order to ensure the plan is current. Together we will review your progress towards meeting your financial objectives.

Our financial planning services may include the following review & analyses*:
Click on each service below for detailed information

Long Term Care Insurance Needs

Health Insurance & Medicare are designed to cover short-term care and rehabilitation and Medicare is only available if you're 65 & over. For clients under age 65, long term disability insurance is likely one solution. But as clients near retirement age, or for those who are already retired, long term care insurance needs to be considered. We take into account all possible sources of income to pay for an extended rehabilitation or assisted-living or nursing home stay, and then determine if the client could reasonably pay for those expenses out of their accumulated savings. While this knowledge is helpful to the client, we will always present every available option for their consideration. This includes long term care insurance, which, when purchased at the proper time, can provide much-needed additional income in the event of a long-term disability, illness, or cognitive impairment. For clients who do not have enough assets to cover these potentially high expenses, long term care insurance can provide peace of mind for the client and their families. For those clients who are fortunate to have a large enough asset base to meet any potential medical need, long term care insurance is one possibility of ensuring that the client will be able to pass some of their wealth to their heirs, favorite charity, or as they otherwise choose.

Estate Planning

There are certain estate planning documents every person should have. As a part of the financial plan, we review any estate planning documents you already have and offer our recommendations for making sure at least a basic estate plan is in place. Then depending upon the projected size of the estate, we will offer additional recommendations for minimizing any potential estate tax. If necessary, we will refer the client to a local estate planning attorney to draft any new documents.

Retirement Forecasting

For most clients, retirement planning is the core of their financial plan. The key question we attempt to answer is: When can the client retire, and how much income will their investments provide them at that time, while still being reasonably assured that their savings will last throughout their retirement? As a part of the retirement analysis, we consider all retirement savings and investment accounts, company pension plans, and social security as sources that can be used to meet the client’s income needs. We further consider a moderate rate of inflation and a conservative rate of annual return on the client’s assets to arrive at the answer. Based upon the assumptions we have made in conjunction with the client, we will then work to fine-tune the retirement analysis and make adjustments to (if necessary) arrive at the intersection between what is desired and what provides a reasonable probability of success.

Life & Disability Insurance

While most people are familiar with life insurance, many aren’t sure if they need to buy a policy, or if the policy they already have provides enough coverage. Disability Income insurance is often overlooked unless it is provided by an employer, but is sometimes the most important type of insurance a client needs. This analysis takes into account any current insurance policies the client owns, and determines first, if the policy is the right type of policy for the client, and second if the policy provides adequate coverage. As a part of the analysis, we will make recommendations, and as necessary assist the client in the purchase of additional insurance.

Education Funding

Planning for a child or grandchild’s college education is an important part of many families’ financial plan. Unfortunately,most families don’t save enough, or start saving too late to be able to fully pay for a four year education. This analysis considerssuch factors as: the increasing cost of public and private education, general economic inflation, and the age of the child. The result provides the client with specific amounts to save on a monthly, annual, or lump-sum basis for the child’s education, assuming a conservative annual return. Marquis also consults on the various tax-advantaged options available for education savings,including: Education IRAs, State 529 plans, and UTMA/UGMA accounts.

Personal Financial Statement Evaluation

This analysis is an overview of your total assets (liquid & non-liquid) and your total liabilities. The difference is your Net Worth. This analysis provides you with information similar to a balance sheet and is helpful in determining how "liquid" your net worth is in case of emergency.