Family and Individuals
BWC provides the following Family and Individuals services:
Investment Planning & Asset Allocation
Investment success is largely driven by the effectiveness of your asset allocation. The optimal mix of investments is paramount to achieving your financial goals. To create a well-defined asset allocation plan, BWC incorporates these key elements:
- Customization—a strategy that takes into account your return requirements, risk tolerance, time horizon, tax situation and liquidity needs
- Market Perspective—a focus on where the market is headed rather than a reliance on past performance
- Disciplined Investment Process—an approach that combines world-class research, access to institutional investment strategies, and dynamic, independent investment decisions
- Accountability—an experienced, proactive team you can trust to consistently deliver the outcomes you expect over the long term
Are you confident that your investment portfolio could stand up to these ideals?
It’s always a good idea to periodically regain your bearings and verify the trajectory of your investment strategy. Particularly given today’s increasingly complex financial markets, there has never been a better time for a current assessment.
When properly planned for, reaching retirement can be a wonderful milestone with endless possibilities. Regardless of your level of wealth, a methodical and measured approach to preserving your assets and investing appropriately is vital to ensuring that you will achieve yourretirement goals and meet your future lifestyle objectives.
Depending on your current life stage and when, and in what fashion, you hope to retire, BWC can employ a number of strategies in keeping with your time horizon and risk tolerance. There are three key issues to consider:
- How much will you need? —Generally accepted wisdom dictates that you should plan to accumulate 70 to 90 percent of your pre-retirement income for each year of retirement
- How well prepared are you? —An evaluation should include your employer-sponsored retirement plans, IRAs, pensions and any other assets or resources you have
- Is your investment strategy sufficient to meet or exceed your targets? —Your portfolio should be dynamic enough to keep pace with evolving financial markets, tax laws and the economic environment, as well as changes in your personal life
Are you on track to achieve your retirement objectives?
With the tax landscape in a perpetual state of change, and the impact of taxes undeniably pervasive, proper planning is crucial. A variety of strategies can minimize your liability and leverage favorable provisions while they remain in force.
In order to navigate the intricate tax issues related to managing your wealth, BWC can work in concert with your tax advisor to take advantage of a number of planning opportunities. For example:
- Timing the realization of capital gains
- Offsetting gains and losses, while paying attention to wash sale rules
- Deducting investment interest expense
- Utilizing charitable deductions
- Contributing to tax-advantaged retirement vehicles
- Considering the impact of the Alternative Minimum Tax (AMT)
A number of wealth management strategies can help alleviate your tax burden. But, your plan must be built and managed to adapt to new opportunities and adjust to challenges that arise
A surprising number of wealthy individuals do not have fully updated or implemented estate plans. The risks of not being prepared include higher taxes and an undesirable distribution of assets, among other consequences.
The primary objective of estate planning is fairly straight forward—to maximize the amount of wealth that can be passed on to family members and charitable causes while minimizing taxes and other expenses. Achieving these objectives, however, requires extensive fiduciary and financial expertise along with impartial guidance.
BWC, working in lockstep with your legal and tax advisors, can provide the investment and planning expertise to ensure that every aspect of your estate plan meets your needs. Key elements include:
- Documents—wills, durable power of attorney, advance medical directives
- Trusts—marital, charitable, special needs
- Title/ownership implications and beneficiary designations
- Estate funding and liquidity
- Ongoing investment management and tax planning
The cost of a college education has risen faster than the rate of inflation for nearly four decades. And no matter how well prepared you are to afford the expense, you should ensure that you are taking advantage of every tax deferral opportunity and the most effective investment vehicles available.
Whether you are planning for the education of your children or the next generation, there are a number of strategies to consider. BWC can help you evaluate the relative benefits of various options such as:
- Uniform Gifts/Transfers to Minors (UGMA/UTMA) custodial accounts
- Coverdell Education Savings Accounts (ESA)
- 529 savings plans
- Trust structures
One of the great joys of achieving financial success is the ability to support the organizations and causes that are important to you.
BWC can help by evaluating the tax and portfolio implications of gifting specific assets to charity or by working with your tax and legal advisors to establish a more complex philanthropic plan. The options can range from a simple gift of cash or securities to a multigenerational strategy involving a variety of vehicles and holdings. Some of the options include:
- Gifting highly-appreciated or low-cost-basis assets
- Gifting real estate
- Gifting IRA assets
- Investing in donor advised funds
- Creating charitable trusts
- Establishing a private family foundation
Ready access to credit is a vital component of a comprehensive wealth management plan. Whether you require short-term financing, leverage to diversify your portfolio, or funds to purchase real estate or artwork, access to liquidity is crucial.
Based on your overall financial goals, a strategic approach to liability management can provide opportunities to maximize earnings and optimize cash flow through structures such as:
- Secured and unsecured loans
- Letters of credit
- Mortgage financing
- Margin accounts
- Hedging strategies
BWC has well-established relationships with a number of traditional lenders as well as private investors that can provide for a range of short-term or long-range financing needs.
Asset Protection Strategies
Shielding your assets from the threat of potential liabilities is an essential element of wealth planning. If your risk exposure goes beyond the protection afforded by traditional home, auto and life insurance, a current risk assessment is a must.
Some common circumstances that can heightened your vulnerability include serving in a high-risk profession, closely-held business ventures, rental property ownership, or a teenage driver in the family, just to name a few. Some of the ways to ensure additional protection include:
- Personal “umbrella” liability insurance
- Disability and Long Term Care Insurance
- Buy-sell agreements
- Directors and officers liability insurance
- Asset titling/ownership strategies
- Asset-protection trusts