Financial Planning

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 Seven-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 seven steps, you and your CFP® professional will:

  1. Understand the Client's personal and financial circumstances
    Obtain qualitative and quantitative information; analyze information; address incomplete information.
  2. Identify and Select Goals
    Identify potential goals; select and prioritize goals based on realistic assumptions and estimates.
  3. Analyze the Client’s current course of action and potential alternative course(s) of action
    Analyze the advantages/disadvantages of the current course of action; when appropriate, consider potential alternatives and whether they help maximize the potential for meeting goals.
  4. Develop the Financial Planning recommendations
    From the current and potential alternative courses of action, select recommendations to maximize the potential for meeting goal(s); we must consider the assumptions used, how to integrate into the personal and financial circumstances, timing and priority of recommendation, and whether the recommendation is independent or implemented with another recommendation.
  5. Present the Financial Planning recommendation(s)
    Present the selected recommendation(s) and the information that was required to be considered in developing the recommendation(s).
  6. Implement the Financial Planning recommendation(s) (unless specifically excluded from the scope of engagement)
    Establish who will be responsible for implementation of recommendation(s) and the role of any third party with respect to implementation. If necessary – identify and analyze products and services designed to implement and discuss recommendations with the client.
  7. Monitor progress and update (unless specifically excluded from scope of engagement)
    Establish monitoring and updating responsibilities; collaborate to update information, goals, and/or implementation as appropriate in accordance with the Practice Standards for the Financial Planning Process.


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 retirement account 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.

Learn more about the ethical duties of CFP® professionals under CFP Board's Code of Ethics and Standards of Conduct in their "Ethical Duties of CFP® Professionals" brochure.  

[1] The seven-step financial planning process as described in the Code of Ethics and Standards of Conduct from the Certified Financial Planner Board of Standards, Inc. (CFP Board)

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