Your financial well-being depends on steady, tax-efficient income that lets you enjoy the things you care most about. Everything is interconnected, one challenge or change in one area could uncover an opportunity in another.
At Spence & Associates, we implement an 8 step process, creating your IG Living Plan.
1. Explore your current situation
It all begins with a conversation. We will listen and learn about you and your current financial complexities to help us customize our relationship with you. We will also explain the services we provide and establish our roles and responsibilities.
2. Clarify your goals and objectives
Every situation is unique. We take the time to explore and define all the life goals, financial aspirations and concerns you have for yourself, your business and your family.
3. Determine your time frame
Like a financial GPS, you need to know where you are now, where you are going and how long it will take for your journey. We will help you determine the time frame needed to retire with the peace of mind of not out living your money and enjoying all of your established goals.
4. Discuss your options
Your wealth strategy will be tailored to you and your goals. We provide effective, bespoke strategies to address both short and long-term needs.
5. Develop a Personal Financial Plan (PFP)
Using our advanced planning technology we are able to create a visual/interactive plan that allows you to see potential future outcomes, based on specific scenarios and assumptions. Working with you live within this software gives us the opportunity to explore all the “what ifs” of planning. This is an eye-opening process which provides clarity and peace of mind.
6. Implement the strategies
Managing significant wealth requires us to develop a customized asset mix that seeks to mitigate risk, seizes opportunities, and minimizes taxes. We are supported by a team of professionals with specialized expertise in tax and estate planning, securities, insurance protection, investment lending, business succession, corporations and more. We can manage your wealth through both a diverse and dynamic asset allocation approach that is overseen by some of the world’s top asset managers. We also often involve your own personal professionals to ensure a synchronized approach.
7. Proactively monitor and adjust
As life and family circumstances constantly change, we monitor and work closely with you to identify and present all relevant scenarios before adjusting your living plan. Life does not stand still, nor should your plan.
8. Service and results
We pride ourselves in providing exceptional client service. We are committed to continuing our education to make sure our team is always as current as possible. We build long term, nurturing relationships and treat our clients as family. We work hard to earn your trust and just as hard to keep it. Actions are measured by results.