After meeting with John and Mary and reviewing their documents and statements several wealth issues surfaced and needed to be addressed. The relationship management team worked with John and Mary to revise their will, create trusts for their grandchildren and put the Palm Springs property into trust, then worked with their attorney to draft the final documents. They also helped John and Mary set up college savings plans for the grandchildren.
Through the discovery process that included a comprehensive financial plan, the team was able to consolidate accounts and provide John and Mary with a clear picture of their wealth, and built an asset allocation to meet their long term goals and cash flow needs. Because of the broad knowledge of the client’s situation, the team was able to build a portfolio that was less volatile than their former individually managed portfolios and generated higher income to cover their cash burn rate with enough cushion for extra expenses in the future.