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Financial Planning:
Building your Wealth
Presented by Mark Groesbeck
CFP®, ChFC®, CLU®
10/27/09
Mark Groesbeck
• Senior Vice President with the Wealth
  Management Group of Abshier Webb Donnelly &
  Baker
• Certified Financial Planner, Chartered Financial
  Consultant and Chartered Life Underwriter
• Named one of the top advisors in state of Texas
  by Reuters AdvicePoint and one of the top 250
  Wealth Advisors in the country by Worth
  magazine
Economic Overview
• Financial crisis has impacted all areas of business
• Unemployment continues to grow, long term
  recovery
• Traditional methods of accessing capital are
  strained
• Uncertain tax situation for individuals
• Stock market has improved since March 2009
  but….
• Real estate troubles still ahead?
• The impact of healthcare reform
What is financial planning?
• Dynamic process to achieve & maintain financial
  security
• Gather client data
• Identify Client’s goals
• Analyze & evaluate current situation
• Develop planning recommendations
• Implement the financial plan
• Monitor financial plan at least once a year to
  measure success
• IT IS A PROCESS NOT A PRODUCT
What is in a plan?
•   Summary of current financial situation
•   Business Planning
•   Retirement Planning
•   Estate Planning
•   Insurance Analysis (risk management)
•   Education Planning
•   Investment Planning
•   FOLLOW A “PRIORITIZED” ACTION LIST
Personal And Business Goals
• Summary of current financial situation
  – Take inventory of what you have personally and in
    business and establish goals for both

• Retirement Planning
  – What age? Lifestyle? Debt Free? What will you do
    next? What type of retirement plan should you
    fund?

• Estate Planning
  – Business succession, care for family, reduce tax
    (probate, federal estate, state inheritance),
    charitable trusts, inheritance
Personal And Business Goals (cont.)
• Business Planning
  – Tax Planning & Benefits, Investment banking

• Insurance Analysis
  – Initial liquidity, income to survivors, buy/sell,
    estate preservation, disability, long term care

• Education Planning
  – Transfer of assets, 529 plans

• Investment Planning
  – Tax deferred, alternative investments, coordinated
    plan tied to risk tolerance. Maintain proper liquidity
Business Planning
• Tax Planning
  – Proper business structure (C or S Corporation, LLC
    or Partnership); Income shifting ideas – work
    closely with CPA for guidance.

• Employee Benefits
  – Retirement plans, insurance protection for
    employees (Life, Health, Disability, Special needs
    products)

• Plans for owners
  – Non Qualified Deferred Compensation, COLI
Business Planning (cont.)
• Administration and Protection
  – Workers’ compensation, unemployment claims
    management and regulatory compliance
    assistance, as well as HR support

• Investment Banking
  – Capital needs (mezzanine financing, IPO, etc),
    merger or acquisition, recapitalizations, business
    valuations, litigation support

• Business Succession Plan
  – passing business to family, key employees or going
    public. Buy/Sell agreements could be helpful for
    death or disability planning (properly arranged and
    funded)
Retirement Planning
• What age to retire or slow down?
• Lifestyle? How much you spend impacts capital
  accumulation goal
• Debt Free? There are tax advantages to
  mortgages, but what about your peace of mind?
• What will you do with your time? Charitable
  work? Teach? Go back to college? Travel? Play
  with grandchildren?
• Do you have a company retirement plan? What
  plans allow the largest deductible contributions?
  ERISA based plans and IRAs provide asset
  protection
• Do you stay in your current home? Texas
  homestead exemption provides asset protection
Estate Planning
• Business succession
• Care for family
• Reduce tax (probate, federal estate, state
  inheritance)
• Charitable trusts
• Do you expect an inheritance?
• Generation skipping trusts
• Irrevocable Life Insurance Trusts (ILITs)
• Family Limited Partnerships and LLCs provide
  creditor protection
• Offshore trusts
Insurance
LIFE INSURANCE
• Initial liquidity: Pay mortgage off? Lump sum
  fund education?
• Income to survivors: builds capital to provide
  income
• Buy/sell: Provides liquidity to sell company
• Estate preservation: Protects estate shrinkage
• Cash Value life insurance & annuities are
  protected assets
• Term insurance could be “cheaper” solution BUT
  it depends on goal
Insurance (cont.)
OTHER INSURANCE
• Disability: Provides income to individual, can
  provide business with income or fund a disability
  buy/sell
• Long term care for self and/or for parents. Could
  be “rider” on life insurance.
• Malpractice: Protects your future
• Umbrella Liability Insurance: Tied to home and
  auto policies
Education Planning
• Transfer of assets or income to children: UTMA
  accounts, let kids own depreciated equipment
  and lease back to your company (consult CPA)
• 529 plans: outside of your estate, you maintain
  control. Make annual gifts to children and
  grandchildren, creditor protection
• Children work in business: better than paying an
  allowance
• Multi-generational planning, keeping vision alive
• Irrevocable living trusts (creditor protection)
Investments
• Emergency cash resources: personal and
  business
• Determine Allocation: stocks, bonds, cash, etc.
• Mutual funds vs. Exchange Traded Funds (ETFs)
• Alternative Investments: Real estate, Oil & Gas,
  Hedge Funds
• Variable Annuities: “personal pension plans”, no
  limit to contributions, asset protection, living
  benefits
Benefits of Financial Planning
• Establishing financial goals to direct your actions
• Financial peace of mind is gained by taking
  control
• Understanding how your actions today could
  impact your financial future. Coordinated
  implementation of strategies increases chances of
  success
• The time to plan is before there is a crisis
• Protects your income and wealth for the future
• Take Charge!
Questions & Answers
        For More Information:

            Mark Groesbeck
             713-920-9011
    M.Groesbeck@awdbpartners.com
                   or
            Anthony Grijalva
            (713) 235-8204
      agrijalva@gnapartners.com
         www.gnapartners.com

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Financial Planning: Building Your Wealth - webinar

  • 1. Financial Planning: Building your Wealth Presented by Mark Groesbeck CFP®, ChFC®, CLU® 10/27/09
  • 2. Mark Groesbeck • Senior Vice President with the Wealth Management Group of Abshier Webb Donnelly & Baker • Certified Financial Planner, Chartered Financial Consultant and Chartered Life Underwriter • Named one of the top advisors in state of Texas by Reuters AdvicePoint and one of the top 250 Wealth Advisors in the country by Worth magazine
  • 3. Economic Overview • Financial crisis has impacted all areas of business • Unemployment continues to grow, long term recovery • Traditional methods of accessing capital are strained • Uncertain tax situation for individuals • Stock market has improved since March 2009 but…. • Real estate troubles still ahead? • The impact of healthcare reform
  • 4. What is financial planning? • Dynamic process to achieve & maintain financial security • Gather client data • Identify Client’s goals • Analyze & evaluate current situation • Develop planning recommendations • Implement the financial plan • Monitor financial plan at least once a year to measure success • IT IS A PROCESS NOT A PRODUCT
  • 5. What is in a plan? • Summary of current financial situation • Business Planning • Retirement Planning • Estate Planning • Insurance Analysis (risk management) • Education Planning • Investment Planning • FOLLOW A “PRIORITIZED” ACTION LIST
  • 6. Personal And Business Goals • Summary of current financial situation – Take inventory of what you have personally and in business and establish goals for both • Retirement Planning – What age? Lifestyle? Debt Free? What will you do next? What type of retirement plan should you fund? • Estate Planning – Business succession, care for family, reduce tax (probate, federal estate, state inheritance), charitable trusts, inheritance
  • 7. Personal And Business Goals (cont.) • Business Planning – Tax Planning & Benefits, Investment banking • Insurance Analysis – Initial liquidity, income to survivors, buy/sell, estate preservation, disability, long term care • Education Planning – Transfer of assets, 529 plans • Investment Planning – Tax deferred, alternative investments, coordinated plan tied to risk tolerance. Maintain proper liquidity
  • 8. Business Planning • Tax Planning – Proper business structure (C or S Corporation, LLC or Partnership); Income shifting ideas – work closely with CPA for guidance. • Employee Benefits – Retirement plans, insurance protection for employees (Life, Health, Disability, Special needs products) • Plans for owners – Non Qualified Deferred Compensation, COLI
  • 9. Business Planning (cont.) • Administration and Protection – Workers’ compensation, unemployment claims management and regulatory compliance assistance, as well as HR support • Investment Banking – Capital needs (mezzanine financing, IPO, etc), merger or acquisition, recapitalizations, business valuations, litigation support • Business Succession Plan – passing business to family, key employees or going public. Buy/Sell agreements could be helpful for death or disability planning (properly arranged and funded)
  • 10. Retirement Planning • What age to retire or slow down? • Lifestyle? How much you spend impacts capital accumulation goal • Debt Free? There are tax advantages to mortgages, but what about your peace of mind? • What will you do with your time? Charitable work? Teach? Go back to college? Travel? Play with grandchildren? • Do you have a company retirement plan? What plans allow the largest deductible contributions? ERISA based plans and IRAs provide asset protection • Do you stay in your current home? Texas homestead exemption provides asset protection
  • 11. Estate Planning • Business succession • Care for family • Reduce tax (probate, federal estate, state inheritance) • Charitable trusts • Do you expect an inheritance? • Generation skipping trusts • Irrevocable Life Insurance Trusts (ILITs) • Family Limited Partnerships and LLCs provide creditor protection • Offshore trusts
  • 12. Insurance LIFE INSURANCE • Initial liquidity: Pay mortgage off? Lump sum fund education? • Income to survivors: builds capital to provide income • Buy/sell: Provides liquidity to sell company • Estate preservation: Protects estate shrinkage • Cash Value life insurance & annuities are protected assets • Term insurance could be “cheaper” solution BUT it depends on goal
  • 13. Insurance (cont.) OTHER INSURANCE • Disability: Provides income to individual, can provide business with income or fund a disability buy/sell • Long term care for self and/or for parents. Could be “rider” on life insurance. • Malpractice: Protects your future • Umbrella Liability Insurance: Tied to home and auto policies
  • 14. Education Planning • Transfer of assets or income to children: UTMA accounts, let kids own depreciated equipment and lease back to your company (consult CPA) • 529 plans: outside of your estate, you maintain control. Make annual gifts to children and grandchildren, creditor protection • Children work in business: better than paying an allowance • Multi-generational planning, keeping vision alive • Irrevocable living trusts (creditor protection)
  • 15. Investments • Emergency cash resources: personal and business • Determine Allocation: stocks, bonds, cash, etc. • Mutual funds vs. Exchange Traded Funds (ETFs) • Alternative Investments: Real estate, Oil & Gas, Hedge Funds • Variable Annuities: “personal pension plans”, no limit to contributions, asset protection, living benefits
  • 16. Benefits of Financial Planning • Establishing financial goals to direct your actions • Financial peace of mind is gained by taking control • Understanding how your actions today could impact your financial future. Coordinated implementation of strategies increases chances of success • The time to plan is before there is a crisis • Protects your income and wealth for the future • Take Charge!
  • 17. Questions & Answers For More Information: Mark Groesbeck 713-920-9011 M.Groesbeck@awdbpartners.com or Anthony Grijalva (713) 235-8204 agrijalva@gnapartners.com www.gnapartners.com