Next-Gen Becomes Family Financial Decision-Maker

Client Situation: Joy recently went through the difficult process of losing her beloved mother. Her father is in the Philippines and his health prevents him from coming back to the States. At 38 years old, single and without siblings, Joy is now responsible for all of the financial decisions of the family.

Investable AssetsHer investable assets include a 403(b) retirement plan with her work ($260k), inherited IRA ($600k), Trust account ($75k), and a Roth IRA ($12k).

Beacon Pointe Value Add:

We understand that every client has their own unique financial circumstances. Our success in the case was predicated on:

  • Education – Joy wanted to understand our approach and strategy. Through attending our Women’s Advisory Institute (WAI) lunches she felt comfortable that we would take the time to get to know what was truly important to her.
  • Financial Planning – We provided Joy with an action item check list that has helped her organize her financial life.
  • Portfolio Management – As an inexperienced investor Joy was concerned about risk. Featuring an investment platform with access to outstanding portfolio managers focused on protecting capital in declining markets, Joy felt comfortable that her portfolio was designed with a margin of safety.

Goals:

  • To organize her financial life after the passing of her mother
  • To preserve and protect inherited assets
  • Assist in managing her father’s assets with care
  • Enough growth to keep pace with inflation

Beacon Pointe Action Items:

  • Investment Strategy
    • Developed and implemented a customized investment plan tailored to Joy’s financial goals and objectives
  • Get Financially Organized
    • eMoney Online Financial Planning Dashboard
      • Budgeting
      • Expense Tracking
    • Account Consolidation
    • Beneficiary Review
    • Insurance Policy Review
    • Evaluate Current Retirement Plan Savings
    • Financial Plan
  • Father’s Affairs
    • Consolidation of father’s accounts and implementation of investment strategy

About Beacon Pointe:

Beacon Pointe is one of the largest independent Registered Investment Advisory firms (RIAs) in the nation working with institutions, defined contribution plans, individuals and families. We provide full service financial planning and research driven investments allowing our clients to make important and informed strategic decisions. We are 100% employee-owned and we accept no fees from the investment managers we recommend to our clients. This ensures our fiduciary duty is upheld and our clients’ best interests are the driving force in our relationship.

Our mission is to provide comprehensive, objective investment advice and financial guidance that is focused on asset preservation and enhancement through the implementation of sophisticated investment strategies and the selection of what we believe to be superior investment managers.

 

To view other Beacon Pointe client case studies, click here.

Important Disclaimer: Case studies presented are hypothetical scenarios and intended for illustrative purposes only.  They do not represent an actual client or an actual client’s experience, but rather are meant to provide an example of the Beacon Pointe’s process and methodology.  An individual’s experience may vary based on his or her circumstances. There can be no assurance that the Firm will be able to achieve similar results in comparable situations. No portion of this case study is to be interpreted as a testimonial or endorsement of the Firm’s investment advisory services, and it is not known whether the hypothetical clients referenced approve of the Firm or its services. The information contained herein should not be construed as personal investment advice. 

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