Four Areas Many Retirees & Business Owners Ignore In Wealth Management – Finger Financial Five #150

Jeremy Finger
Jeremy Finger
Table of Contents

“Alone we can do so little; together we can do so much.” – Helen Keller 

My dad and I used to go fishing in the rivers and ponds around SC. When we navigated around tight spots, around trees, we used our paddles instead of the electric motor. We maneuvered better when we coordinated our strokes — it would be a mess if we didn’t. 

You probably have several professionals in your life –- each with a specific job … or paddle, so to speak. Without coordination, you could be going in circles. This Finger Financial Five is intended to highlight the importance of coordinating the financial elements of your life so everyone is rowing in the right direction. 

There are five major areas to consider.  We talked about these briefly in FFF#130

Today, we will go over these in more detail. 

The first and most obvious is Investment Consulting (IC).

Investment consulting is the management of all investment elements in order to maximize the probability of achieving all that is important to you. 

This includes:

  • Portfolio performance analysis
  • Risk evaluation
  • Asset allocation
  • Assessment of the impact of cost
  • Assessment of the impact of taxes
  • Risk assessment

The second, and often ignored, is Advanced Planning (AP).  This element  is made up of the other four elements:

  • Wealth Enhancement (WE) -Tax mitigation and cash-flow planning
  • Wealth Transfer (WT) -transferring wealth within and outside of the family effectively 
  • Wealth Protection (WP) – Risk mitigation, legal structures, and transferring risk to insurance companies. 
  • Charitable Giving (CG) -Maximizing the impact of giving to charity and your estate. 

Key people or organizations that execute the Advanced Planning are:

  • Wealth manager
  • CPA (tax professional)
  • Estate/tax attorney/Private Client Lawyer
  • Property and Casualty Insurance Company/Agent

Relationship Management (RM) which includes:

  • Client Relationship Management (CRM) – A process for guiding you and your family to help build a life of significance in which you take care of the people you love, the causes you care about, and make a difference (where you want to go). 
  • Professional Network Relationship Management (PNRM)– Coordinating the key people and organizations to execute and achieve what matters most to you (paddling together). 

WM (Wealth Management) = IC (Investment Consulting) + AP (Advance Planning) + RM (Relationship Management)

AP (Advance Planning) = WE (Wealth Enhancement) + WT (Wealth Transfer) + WP (Wealth Protection) + CG (Charitable Giving)

RM (Relationship Management) = CRM (Client Relationship Management) + PNRM (Professional Network Relationship Management)

You can choose to coordinate all these areas yourself.

You could work with someone who knows what you want and can coordinate with other professionals. 

Feel free to ask us any questions. Email me at [email protected] or click here to set up a phone appointment. 

News from around the office: Welcome Kayla Lyons to the Riverbend family. She is from Myrtle Beach, SC, and lives in Durham, NC. She oversees marketing, technology, and backs up Roxanne in client service. 

On the lighter side, Elliott continues to do well at the University of South Carolina. His mother and I are so proud. I recently took a golf trip to Bandon, OR. The views were stunning, but my game was terrible. Still, it was a great trip. 

Hope all is well with you and your family,


Finger Financial Five – 5 points in 5 minutes or less – is intended to provide you with a weekly shot of useful financial information.  My intention is to share principles so that you will have more clarity, more peace, and make better financial decisions. 

Investment advice offered through Stratos Wealth Advisors, LLC, a registered investment advisor. Stratos Wealth Advisors, LLC and Riverbend Wealth Management are separate entities. This content is developed from sources believed to be providing accurate information and provided by Riverbend Wealth Management. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Stratos Wealth Partners and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.


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