Financial Planning, Business Consulting, & Risk Management

Financial Planning, Life Planning, Vision for the Future

Our advisors have experience and knowledge in a wide range of disciplines that fall under the umbrella of wealth management. They deliver highly customized consulting services to clients with varying circumstances. In addition to investment management services and estate planning services (discussed elsewhere), they serve clients in the following other areas:  

  • Financial Planning
  • Business Consulting / Succession Planning
  • Risk Management

Financial Planning

The financial planning services may provide significant value to individuals in many different circumstances. Our advisors can provide a highly customizable analysis of a client’s assets, debts, income sources, and expenditures. The analysis can be used to develop a vision, a roadmap, and a reasonable level of confidence in the individual’s ability to achieve a financial future that they believe is desirable and attainable. 

The financial planning process helps clients better integrate their financial planning, estate planning and charitable planning activities. The integrated approach creates efficiencies by creating greater clarity and by possibly reducing taxes and expenses during lifetime and in the estate. Often a significant source of tax savings can be derived from strategic charitable giving techniques that are employed during life and in the estate plan. The results of an integrated plan vary depending on the circumstances and objectives of the individual, but in general we find:

Crosspoint Integrated Financial Charitable Estate Planning

  • The original wealth owner may gain greater clarity about “how much is enough” and will implement plans that may provide them lifetime benefits that are equal or greater to their original plans.    
  • The wealth owner may develop greater clarity about “how much is enough” for the next generation or other heirs, and likewise implements plans that may provide equal or greater benefits to heirs. 
  • Often the integrated plan may result in substantially greater projected benefits to the community through increased charitable giving during life and at death.
  • Often the integrated plan may result in substantially less taxes and expenses during life and at death. The reduction of taxes keeps more capital at work, making all of the other benefits possible. Although it is somewhat counter-intuitive, our governments also benefit when individuals plan in this way. Government studies have consistently shown that when the taxing authorities gives up $1 of tax revenue as an incentive for charitable giving, something like $1.50 in benefits are delivered to address the needs of society.* Tax services are not offered through or supervised by Lincoln Investment or Capital Analysts.

Business Succession Planning

There will come a time, either through circumstance or choice, when a family owned business or farm will transition. It may be sold, it may be liquidated, or it may be transferred to family members or key employees. Our advisors serve many business owners and farming families and help them plan for the successful transition of their businesses or farms to the next generation.   

A great succession plan is one that contemplates this transition, provides contingencies for unforeseen circumstances, and allows the business owner to exit in a manner and style that is his or her choice. Each plan is unique, but all will involve tax, estate, business and income planning. The process will enable you to determine what you want to accomplish and establish a strategic plan to help realize your goals.  Equally important, our advisors will be there to help you complete your plan, fully committing to its execution. 

“Vision without action is a daydream. Action without vision is a nightmare.” Japanese Proverb

Risk Management

Managing risk is an important consideration of wealth management.   

Our advisors and our clients, as well as all of the other members of their advisor team can help identify significant risks that threaten the accomplishment of the clients' goals and objectives.  

Rather than ignoring risks, our advisors attempt to measure the likelihood and impact of risk, identify strategies to mitigate risk, evaluate the cost of mitigation, and take decisive action.

The varieties of risks are too many to address here, but the risks that our advisors primarily help our clients manage include the following: 

  • Risks of premature death or disability
  • Risks threatening the succession of family businesses or farms
  • Risk associated with wealth transfer including improper titling 
  • Risk associated with long term health care costs 
  • Financial market risks and investment risks 
  • Risks associated with the management of cash flow

 

 

* Source: Commission on Private Philanthropy and Public Needs