6 Steps to Wealth Wisdom
At Abundance, our success relies on our ability to fully understand the specific needs and objectives of each of our clients. We know that without a clear and concise understanding of what our clients’ goals and objectives are, investment management cannot be successful.
Abundance utilizes a highly customized process known as The Six Steps of Wealth Wisdom process to evaluate, integrate, coordinate, and maintain your financial wellbeing. The Six Steps allows us to focus on your current needs, while also looking ahead towards your future goals. The Six Steps process is customized to you, to accommodate your needs and to fit your timetable. It is dynamic and proactive and it evolves and changes as your life and circumstances evolve and change.
Step 1: The Groundwork
As a new Abundance client you participate in a unique information gathering process called The Groundwork. This phase is designed to bring to light who you are, where your priorities lie, and what your present and future financial picture looks like.
- How do you want to allocate your time and energy?
- Is your family safe from liabilities and creditors?
- Is the lifestyle you have created safe from the financially unexpected?
- Do you know what your personal investment philosophy is and why this is so important to your financial success?
Based on the information gathered we are able to determine such things as your spendable income, current asset mix, current tax structure, and strategy effectiveness; information critical to your financial wellbeing.
Once we lay the financial groundwork we are then able to begin guiding you and your family through the next steps to Wealth Wisdom.
Step 2: The Landscape
Throughout the next step, The Landscape, Abundance designs and tailors a financial “blue print” specifically for you and your family.
During the Landscape, we also work with you to establish a financial network with other advisors, tax attorneys, CFA’s, CPA’s and business development experts; all of whom are critical aspects to your financial blue print.
Do you have a financial blue print for your family?
Step 3: The Planting
Once we have worked with you to draft your financial blue print and establish your financial network, it is during The Planting, that we “sow the seeds” of your financial future.
We begin to coordinate among your network of advisors to facilitate the preparation of your financial, legal, and tax documents as well as to facilitate asset transfers and cash flow mapping.
We originate the implementation of your newly established wealth structures.
Step 4: The Cultivation
The Cultivation frees you from your financial administration confusion.
We understand that you now have a financial network of advisors. However, each professional is only looking after one particular part of your financial well-being.
- Your accountant does your taxes, but she doesn’t do your investments.
- Your financial advisor looks after your investments, but knows little about how that can affect your taxes.
- Your lawyer knows estates and wills, but he’s not an accountant
This leaves you in the difficult position of having to coordinate everything for yourself; however, you simply don’t have the time, specialized financial, legal, or tax knowledge.
At Abundance, we free you from this burden and responsibility by coordinating with all of your professional advisors for you. Wealth protection and enhancement are never static and we support active, ongoing administration to ensure that everything and everyone is working in conjunction, so you don’t have to.
Step 5: The Harvest
The Harvest involves the implementation of a four part strategic and tactical process called the Investment Protocol:
- We define objectives: We analyze your Assets and liabilities, cash inflows & outflows, current investments, as well as your personal goals, employment expectations, risk tolerance level, etc. Analyzing these items allows us to create an investment policy that is tailored specifically to you.
- Formulate an investment policy and allocate assets: Abundance will formulate a customized asset allocation that is designed to meet your goals. Allocations are then reviewed and compared on an ongoing basis.
- We select appropriate investments: Our selection process involves both quantitative and qualitative review processes. We screen and evaluate based on variables such as valuation, growth, yield, tax efficiency, and more.
- Re-report, recommend, and reallocate: The continuing execution of your investment policy is a dynamic process based on changing market conditions and personal circumstances, as well as the performance results of the portfolio. Abundance takes a proactive approach in this process.
Step 6: The Rejuvenation
The rejuvenation is an ongoing process. Dramatic changes in your life, both positive and negative, invariably necessitate changes to your wealth strategies.
- Is there a marriage or divorce pending?
- Have you become disabled?
- Have you had a child?
- Have your children had children?
- Have you inherited a large sum of money?
- Are you planning the adventure of a lifetime?
We understand that change is inevitable and your life is not static. Therefore, we will work with you to adjust your strategies to accommodate changes in your goals and circumstances. No matter where you are on your journey, Abundance will be there to help you plan your financial future.