Example Client Profiles
Marie & John
Wealthy Blended Family
Marie is a CPA. She ran a successful tax accounting firm and John receives considerable oil royalties. Neither is working currently, as they are in their mid-seventies and their health is beginning to decline, but both actively volunteer in their community. They have a net worth of about $12 million, and annual income of $1 million. This is the second marriage for both of them, and they each have children from their first marriages. John is concerned about running out of money and providing for one of his children, who is experiencing mental health challenges. Marie is very charitably inclined and wants to provide for her family. Both are seeking an advisor who will help them create a financial plan and prudent wealth management strategy. Furthermore, they desire ongoing, tax-efficient investment management to reach their goals, and a “Personal CFO” who will coordinate with their tax professionals and estate planning attorney to successfully achieve their objectives even as they navigate their blended family planning matters.
After close consultation with Marie and John, the team at Integrity Road Wealth helps them develop a financial plan so they know where they stand as they seek to achieve their financial goals, coordinates with their estate planning attorney as they develop an estate plan designed to support their family, implements an investment strategy well suited to help them achieve their goals given their risk tolerance, and works with them to fulfill their charitable objectives by gifting appreciated stock to a donor advised fund. Additionally, the Integrity Road Wealth team assesses the trusts they have set up for their child with mental health challenges alongside John's estate planning attorney, giving them peace of mind that the strategies they devised are well suited for them.
Will and Kristina
Working Family with Multigenerational Planning Needs
Will and Kristina are approaching a season of greater flexibility in their financial lives. They are both fifty-five, and their children are out of the house. Kristina earns about $250,000 per year as an engineer at a local oil company, and Will is a sales executive for an information technology firm, earning about $200,000 per year. Kristina has a $1 million pension around which they need to plan, they both have 401(k)s, $500,000 in IRAs, and about $1 million they have saved in a taxable brokerage account. Additionally, Will has a deferred compensation plan. Kristina expects an inheritance of about $1 million. They have three children, two of whom are successful professionals in their late twenties. Additionally, they have a daughter, Maria, in her mid-twenties with some developmental challenges who is not able to work. Both Kristina and Will are concerned about their potential tax burden as their wealth grows, they want to make sure they have enough to provide for Maria, they hope to cover their own advanced care expenses so their children do not have to cover their expenses the way Kristina and Will did for their parents a few years ago, and they want someone who can walk alongside of their children as they learn about tax-efficient investing, charitable giving, and cash flow management.
To support Will & Kristina, the team at Integrity Road helps Will & Kristina assess the best claiming decision for their pension. Furthermore, the team develops a financial plan to assess their readiness for financial independence, coordinates the implementation of a tax efficient investment strategy by locating assets prudently between the different types of accounts, assess the benefits of Roth Conversions, reviews their long-term care insurance options with their agent, and helps them consider an ABLE Account and special needs trust for their daughter alongside of their estate planning attorney. Furthermore, after the estate plan is designed, the team at Integrity Road Wealth meets with Will’s and Kristina’s oldest children to educate them on the estate plan design, communicating Will’s and Kristina’s wishes to them with prior approval. Will & Kristina know they will continue to need ongoing support, but they now feel more confident they are moving in the right direction.
Miranda
Successful Single Professional
Miranda just made Captain at a major airline at the age of 42. She receives an Air Force Pension, and her income recently rose from $200,000 per year as a First Officer to $400,000 per year as Captain. Additionally, her employer is offering a 17% match to her 401(k) with spillover into various deferred compensation programs and a pension. Frankly, she is busy, and it is a maze to navigate the most tax efficient way to approach her savings for the future, achievement of current goals, prudent investment management, and charitable planning. She needs a “Personal CFO” to help her develop a plan, invest the $800,000 she has saved so far, and walk alongside her as she increases her charitable contributions. Additionally, she is concerned about caring for her aging mother and saving for college for her young nephew, as her family has considerable financial constraints.
Miranda was confused about all of her employee benefits when she became a client of Integrity Road Wealth. After engaging in financial planning with the team at Integrity Road Wealth, she now has a sense as to all of her options and the lifetime tax savings she may experience by taking full advantage of all of the benefits the airline has to offer. Furthermore, she knows the team at Integrity Road has her best interest at heart since they outlined the fees she will pay for the ongoing management of her accounts and believes the financial planning support will enable her to support college funding for her nephew and eldercare planning for her mother.
The example clients here are based upon real life clients, but key identifying information, names, and other details have been materially altered to protect the identity of the clients.