Financial Planning

“Fiduciary responsibility” is not new to us. Since our founding, the CERTIFIED FINANCIAL PLANNERs™ at Clute Wealth Management have been committed to the legal and ethical requirements of fiduciary responsibility — to provide advice that puts a client’s best interest above their own.

Financial Planning Services

In addition to developing your unique financial plan, the CFP® professionals at Clute Wealth Management provide specialized services based on your needs and goals.

Your Financial Plan, a Six-Step Process
Growing and Safekeeping Your Portfolio
Strategic Tax Planning
Retirement and Estate Planning
Charitable Giving and Philanthropy

The Financial Planning Process[1]

Coming up with a solid financial plan means doing some homework—both on your part and the part of your CFP® professional. From examining your current situation, to setting goals, to deciding how to measure your progress, a CFP® professional is uniquely qualified to take you through the financial planning process.

In six steps, you and your CFP® professional will:

  1. Agree on how to work together
    Your CFP® professional will explain the services he’ll provide and define each of your responsibilities. Along with compensation, you’ll discuss how long the professional relationship will last and how you and she will make decisions.
  2. Gather information about your finances and set goals
    You and your CFP® professional will talk about your current financial situation and gather any necessary documents. Together, you’ll define your personal and financial goals, including timeframes. You may also want to discuss your comfort level when it comes to taking financial risks.
  3. Analyze and strategize
    Your CFP® professional will take all your finances into account and determine how to meet your goals. Her analysis may cover your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
  4. Develop recommendations
    Next, your CFP® professional will go over his financial recommendations, explaining the rationale so you can make informed decisions. He will address your questions and concerns and revise his recommendations if necessary.
  5. Put plan into motion
    You and your CFP® professional will need to agree on how the recommendations will be carried out. Your CFP® professional may carry out the process with you and other professionals, like attorneys or stockbrokers.
  6. Monitor progress and stay on track
    As you work towards your goals, you and your CFP® professional will need to decide who will monitor your progress to make sure you’re staying on track. If the planner is in charge, she’ll check in from time to time, reviewing your situation and making any necessary adjustments to his recommendations.


Growing and Safekeeping Your Portfolio

Your finances are as unique as your fingerprints. That’s why we take the time to meet with you and learn all we can about your individual assets, expenses, needs and dreams. After thoroughly familiarizing ourselves with your situation, we will present a detailed allocation plan by class of assets to you. A carefully crafted portfolio will strike a balance between risk and performance to help take your assets in the direction of your goals and values. Finding a CERTIFIED FINANCIAL PLANNER™ who will listen is essential so that your investments are working toward your plans and hopes.

Strategic Tax Planning

No surprises. That’s the goal of our tax planning initiative. Once we’re familiar with your current financial situation, we will set up an efficient portfolio based on your financial goals. It might incorporate a plan to draw down your pension in a tax efficient manner. Our familiarity with local, multi-state and federal tax regulations means that we can help you structure your income and investments to minimize your tax liability. Year-end tax-planning will help you to avoid unpleasant surprises, and long-term tax planning will let more of your money work for you to help maximize your retirement income.

Retirement and Estate Planning

It’s never too early (or too late) to plan for your retirement years. What are your goals? What are your dreams? Do you want to continue your travels? Or, does staying closer to home and family have more appeal? Do you plan to keep that second or third home in the family for future generations to enjoy? We specialize in helping our clients move through the predictable stages of wealth, from accumulation to preservation to distribution (to yourself and to your heirs.) We can help you create an investment game plan for the long run. We specialize in estate planning. We can help you review your will, trust, or power of attorney. These tools help to minimize taxes and handle assets during lifetime and after death.

Charitable Giving and Philanthropy

There comes a time when it’s time to give back. We can help you establish a tax-wise charitable plan that allows you to retain control of your gift now and present it to the charity of your choice in the most tax-efficient manner when the time comes. We can work with your attorney to help coordinate your support of the causes and organizations that align with your personal values.

[1] The six-step financial planning process as described in the Consumer Guide to Financial Planning, from the Certified Financial Planner Board of Standards, Inc. (CFP Board)