Foresight Financial Advisory provides Financial Planning and Investment Management services on a fee-only basis. A financial plan is important to capture your progress towards your financial goals today and to establish a strategy to meet your future goals. However, financial planning should not be a one-time “set it and forget it” exercise. Instead, it should be a perpetually evolving and dynamic process. A point-in-time plan assumes everything stays the same and the future will be exactly as you envision it today. Of course, we know there will be changes due to life events such as marriage, the birth of a child, divorce, voluntary and involuntary career changes, medical contingencies, supporting loved ones, government imposed tax and other regulatory changes, financial market ups and downs, and many more. Investing a portion of your savings to pursue your financial goals will be one of the strategy elements of your financial plan. And just as your financial plan should be dynamic to respond to life changes and contingencies, your investment plan will change over time as you move from saving and building your nest egg through your income earning years to living off your portfolio through your retirement years. Foresight Financial Advisory is ready to help you plan for and invest to pursue your financial goals.
In its simplest terms, financial planning is designed to balance income and expenses over your lifetime, plan for the unexpected, while also planning for the disposition of anything left over at the end. Of course our lives are rarely simple, and the financial planning process is designed to fill in and advise on the details in the following areas:
In our initial meeting, we will establish the scope of our engagement by identifying your areas of concern. Our engagement may be limited to just a few of the areas highlighted above, or it could be to develop a comprehensive plan which prioritizes and systematically addresses all applicable planning concerns.
The implementation of your financial plan likely will involve investing some portion of your savings to pursue your defined goals. Your investment portfolio will consider the time horizon of your goals, your ability and willingness to withstand the ups and downs of markets, income needs and tax sensitivity. In combination with your needs, the investment portfolios recommended by Foresight Financial Advisory are guided by certain investment principles which we believe are critical to long term outcomes: Foresight Financial Advisory will work with you to design a portfolio invested with your financial goals in mind, and which will be guided by our investment principles. As life events and your personal circumstances change, your financial plan and your investment strategy will be re-evaluated and will evolve to remain consistent with your needs.
The retirement plans we build for clients are based on a thorough understanding of each client’s specific situation and careful analysis. Our recommendations about retirement and our investment approach are supported by academic literature from leading researchers in finance, investments, and Retirement Planning.
retirement planning isn’t just preparing a one-time plan. It’s an ongoing, iterative process that addresses and monitors all of the issues and questions that matter. Constructing a well-thought-out retirement plan helps us — and more importantly, you — know where you’re going and how to best get there, together.
the transition into retirement comes with many decisions. Important decisions related to pension, health insurance, and retirement plan. And many of these decisions can’t be undone. We help our clients make the right choices by our experience in retirement planning.
once you’re retired, the need to make smart decisions doesn’t stop there. Maximizing retirement income using smart withdrawal strategies. Coordinating portfolio income to reduce taxes. Managing your required distributions. We take care of these things (and many others) so you don’t have to.
You’ve worked hard to accumulate assets during your lifetime and it’s important that you have a plan in place to protect your family. We conduct a thorough review of all of your insurance needs to make sure that you are prepared for the unexpected. We also make sure you have a proper estate plan and beneficiary designations in place to help ensure a seamless transition of wealth to your loved ones by writing Wills or Creating Trusts.
Our compensation is exclusively from our clients. Foresight Financial Advisory is a fee-only firm. We accept no commissions or any other compensation from any of the investments we recommend. We are fiduciaries – putting our client’s interest first. Fees for the various planning services are based on the nature and scope of services provided; a fee structure will be shared during the first meeting.
Some situations prefer ongoing assistance and the comfort of more frequent discussions and regular meetings to make sure their finances remain on track. Perhaps, you are now in retirement and would like assistance in planning to meet expenses and taking income distributions, as needed. Or sometimes, a longer time period may be required before all planning issues can be fully addressed. Retainer services may be ideal for these circumstances.