BY BRANDON JAMES, FINANCIAL ADVISOR AT MARZANO CAPITAL GROUP
Having an orchestrated approach when it comes to financial planning is just as important as a pre-snap huddle for a football team in the red zone. If everyone on the team is not running the same play, the likelihood of a successful outcome is not very good. There are many moving parts to your family’s overall financial plan. At Marzano Capital Group, it is our objective to become our clients’ “financial quarterback.”
As financial professionals, we have the ability to assist in each of the important areas when it comes to planning. Tax considerations, estate planning, insurance, social security, healthcare, retirement planning and wealth/investment management are all integral pieces of an overall successful plan. For us to be the quarterback of necessary financial affairs for our clients, we need to know who else is currently in your network of professionals, and we aim to formulate a relationship with the each of them. That way, we are able to work holistically for you and your family.
If there are vacancies in the seats of the trusted team, we have formed a strong network of CPAs/tax professionals, attorneys, healthcare advisors and other professionals to position our team to connect clients with not only the right people, but the ones we feel are the most proficient in their respective fields.
If each of your team members are operating in a silo by themselves and other members of the team are not made aware of certain changes for a mutual client, it could propose challenges. For example, when taking distributions from investment accounts, an understanding of the client’s tax situation is extremely important. Knowing how much and what type of taxation that will be triggered will help you to plan for it ahead of time. Therefore, we choose to work closely with our clients’ tax professionals.
We have found in most cases, people who have done even minimal planning already have a team formed. The typical issue we see is, no one has taken charge and “quarterbacked” the team. We feel assuming this role for our clients is our duty as the trusted advisor and adds a significant layer of value to the relationship. Not only are we the financial advisors, but we work closely with the other valuable players on your team to ensure every play is executed the most appropriate way for the client.