At Nvest Wealth Strategies, we believe risk management is not a one-time discussion or “set and forget” decision. Rather, the risks each of us face and the strategies used to protect ourselves change as personal, financial, and family dynamics evolve through time. With that said, we are of the perspective that one can quickly make life needlessly complex (and expensive) through their pursuits to avoid any and all undesirable outcomes. In our partnership with clients, we focus our attention toward achievement of each client’s primary objectives. As part of that, it is important to identify, understand, and protect against those risks that have the highest probability of derailing long-term goals using the most simple and pure structures practical.
These are just a few questions we regularly encounter with clients. We are knowledgeable and maintain access to experienced resources in these areas. And because we are independent, you can take comfort knowing that our only focus and motivation is to help each client identify and execute what is in their true best interests based on the situation – going where we need to go to get the job done in the most cost efficient, simple and pure fashion.
We will help you build wealth (your castle), but not at the risk of not having a moat to protect it.
Legacy Planning & Protection
The transfer of Assets to a spouse or the next generation requires planning in many areas. How assets are titled can also have different taxable consequences. And dying without a will indicates that you are fine your state of residency determining who receives your assets with that information being public as your estate is probated. We are not attorneys and do not practice law, but can offer a qualified and objective review of your situation; we maintain a circle of competent and trusted attorneys from which to draw upon as needs arise. We steer clear of referral arrangements, instead directing clients to right-fit resources, because it is the right thing to do for the client. Part of our review may also include a discussion about the preservation of assets during an extended illness and what options are available to you and your family.
We view insurance from the lens that insurers are in business to make money and we believe that invested assets should be held in traditional investment structures. Said differently, life insurance and related products are viewed as a risk-management tool and nothing more. Our bottom line in analyzing either existing policies or assessing new coverage is what level of protection is needed and what type should be utilized? Because the insurance industry is generally compensated by new business written, many agents will advocate the purchase of as much as possible or can be afforded by the client. In our experience however, most clients’ actual needs are less due to a host of factors including one’s level of accumulated assets, outstanding debts, and other personal family circumstances.
Your current policy may or may not be the best/most cost effective. When it’s not, we maintain relationships with trusted and independent advisors with the capability to shop policies across a range of carriers. As part of that process, we request that any sales commission various products would generate be fully revealed to you the client (commissions are not paid to or shared with Nvest Wealth Strategies) so you can compare all your options and shop around with full awareness. We advocate that all specialists provide an objective and comprehensive analysis tailored to the right strategy for your family.
Personal Property and Liability Protection:
“Life happens” and we are happy to review your options within your existing auto, homeowners, umbrella, and related policies. We advocate seeking protection (transfer of risk) that fits your specific needs; we can help you analyze the most cost efficient way in which to manage that protection (deductibles and limits). We do not sell, or have access to sell personal property insurance, but do have thoughts and are equipped to give objective and practical consideration to what forms are appropriate based on cost/benefit. As in other areas, we have independent resources we are happy to share should your coverages merit a fresh look.