SERVICES
Eastlakes offers financial planning, investment advisory, taxation and other financial consulting services to individuals, families, profit-sharing plans, trusts, estates, and small to medium-sized businesses. We take a holistic approach to our services, ensuring that all angles are considered in building your financial future.
FINANCIAL PLANNING
Financial planning services are comprised of three distinct phases of work: (1) Plan Development, (2) Plan Implementation, and (3) Plan Monitoring.
Plan Development includes review and evaluation of a client’s overall financial situation, including, but not limited to, the following:
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Review of current investment portfolio and, if necessary, consolidation of accounts with one or two custodians to facilitate performance measurement and management of the portfolios.
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Analysis of present and expected future spending and saving needs and wants and income expectations.
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Evaluation of a client’s risk tolerance for purposes of investment planning.
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Review of insurance coverage to facilitate effective wealth preservation.
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Evaluation of retirement and education funding needs.
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Recommendations for a basic estate plan that protects the interests of heirs and is tax-efficient.
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Review of prior year tax returns and potential impacts of state and local tax laws to develop a tax plan.
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Development and delivery of a customized computer model that forecasts the client’s financial future under different sets of assumptions, allowing for a clear picture of where the client is potentially heading, and providing a tool to evaluate financial “what-ifs” for important life decisions.
Development of the financial plan requires several meetings, either in person or by phone, to interactively establish clients’ initial financial goals, objectives and priorities and to develop assumptions used in the financial model.
Plan Implementation includes discussion of various financial strategies designed specifically for the client and his/her family in order to enhance your financial health and achieve the client’s goals in a prudent and cost effective manner. Each goal and each strategy are discussed thoroughly to ensure that our clients understand the risks and potential rewards of each and any tradeoffs that may be necessary to achieve them. An action plan is developed that describes steps that need to be taken by both Eastlakes and the client to put the plan in action.
Plan Monitoring includes regular review meetings where we review how clients are doing against their plans and update assumptions and strategies, as necessary. The purpose is to keep clients informed as to how their financial plan performance is progressing and to keep us updated as to your financial wants and needs and any changes in their life circumstances.
INVESTMENT ADVISORY
Eastlakes provides customized investment advisory solutions for its clients. This is achieved through frequent personal client contact and interaction while providing discretionary investment management and consulting services. Eastlakes works with each client to understand fully their financial situation and to identify their investment goals and objectives as well as their personal tolerance for investment risk. Eastlakes will then construct a portfolio, which may include exchange-traded funds (ETFs), mutual funds, individual stocks and bonds, cash or other securities, that is designed to achieve the client’s financial goals over time.
Our investment philosophy is based on the belief that markets are efficient over the long-term, but can be relatively inefficient and irrational over the shorter term. Eastlakes evaluates and selects securities for inclusion in client portfolios only after applying our internal due diligence process. Our approach to portfolio construction typically includes core investments and non-core investments.
Core investments comprise a balanced portfolio of different asset classes that provide broad exposure to stocks, bonds and cash in proportions that are appropriate to a client’s overall financial goals and remain relatively stable over time, subject to periodic rebalancing. These are typically invested in low-cost index funds or ETFs to provide broad diversification within each chosen asset class.
Non-core investments are more opportunistic in nature and typically include individual securities and/or sector funds that are chosen to provide exposure to companies, industry sectors or geographies that are believed to be undervalued based upon our research.
At market peaks the non-core portion of the portfolio may be fully invested in cash or cash equivalent securities or may be focused on out of favor niches that have not participated in the appreciation seen in the market as a whole, but still have merit. At other points in time, the non-core portion of the portfolio may be invested in one or several sectors or asset classes that are believed to have potential for appreciation that is greater than the market as a whole, based upon the evolving economic cycle or other factors.
Eastlakes may recommend selling positions for reasons that include, but are not limited to, harvesting capital gains or losses for tax or financial planning purposes, adjusting business, asset class or sector risk exposure to a specific security or class of securities, a change in risk tolerance of the client, generating cash to meet client needs, or mitigating any risk deemed unacceptable for the client’s individual risk tolerance.
Each client will have the opportunity to place reasonable restrictions on the types of investments to be held in their respective portfolio, in consultation with Eastlakes and as documented in an Investment Advisory Agreement and an Investment Policy Statement. If the client experiences any significant changes to his/her financial or personal circumstances, the client must notify Eastlakes so that we can consider such information in managing the client's investments.
TAXATION
Tax Planning includes evaluation of the client’s personal tax profile and planning transactions in a tax efficient manner in order to avoid, to the extent possible, surprises at tax time and to legally minimize the amount of taxes they are required to pay. Tax compliance includes the actual preparation and filing of all required Federal, state and local tax returns in accordance with applicable tax law.
OTHER QUESTIONS
As our client’s trusted advisor who understands his/her financial profile through a continuing professional relationship, we gain the knowledge necessary to assist quickly and effectively on any financial situation that may arise.
These may include:
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Sale or purchase of a home or business or other major items, including financing or refinancing of same
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Advice regarding insurance products, annuities, etc.
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Social Security planning
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Elder care planning
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Education funding
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Retirement funding
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Employment/compensation consulting
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Employee benefits analysis
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Inheritances, detailed estate plan
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Revisions to the financial plan for major life events
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Unanticipated tax return requirements
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Mediation and coaching for resolution of financial disputes
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Divorce settlement analysis and planning
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Financial coaching and “mini-plans” for young adult offspring of clients
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Business consulting regarding people, processes and profitability of clients’ businesses
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Capital planning for businesses
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Business exit strategy and planning
As a client, you are encouraged to call, text or email us at any time to discuss any financial related matters without additional charge. If any of these issues require extensive analysis or meetings, we will quote you a fee estimate for additional services before charging any additional fees. However, our experience is that many clients are often able to handle matters themselves after the guidance we provide.
Contact us today to get started...
“When it is obvious that the goals cannot be reached, don't adjust the goals, adjust the action steps."
Confucius, Ancient Philosopher