Client Demographics

Our clientele is diverse in terms of age, background and locale. While primarily comprised of two groups, Wealth Creators and Wealth Recipients, the following six concerns are universal:

1. To maintain control over one’s personal affairs
2. Assure lifestyle
3. Tax minimization strategies: income, gift, estate tax, etc.
4. Asset protection
5. Passing responsibility to family members
6. Protection from administrative expenses and delays

Wealth Creators: The primary concerns expressed by Wealth Creators may be summarized as follows: Wealth is concentrated in a single company or asset; compensation is tied to stock options, resulting in unique planning challenges; pressure to retain more company stock than believed prudent; age biases hostile to older employees; corporate reorganizations; job security; reduced retirement benefits. Most who have created wealth did so by these means:

1. Holders of Stock Options
Foremost Concerns (typically expressed in this order):

  • Diversification of concentrated equity and options positions
  • Tax management
  • Liquidity planning
  • Investment management

2. Owners of Closely-Held Businesses
Foremost Concerns (typically expressed in this order):

  • Liquidity planning
  • Diversification of net worth outside the business
  • Business valuation
  • Succession planning
  • Investment management

3. Retirement Plan Participants
Foremost Concerns (typically expressed in this order):

  • Determining capital requirements to secure financial independence
  • Investment management
  • Tax management strategies post-retirement
  • Liquidity and cash flow planning

Wealth Recipients: For a variety of reasons, many recipients of wealth do not experience their good fortune as an unmitigated blessing. Emotional turmoil is common. Wealth Recipients are most frequently:

1. Surviving Spouses and Heirs
2. Insurance Beneficiaries
3. Settlement Recipients (Divorce, Structured Settlements and Litigation Awards)

Foremost Concerns for Wealth Recipients are varied and frequently overlapping:

  • Advice and counsel for a surviving spouse/heirs
  • Trust administration and oversight
  • Investment management
  • Coping successfully with emotional turmoil
  • Income and estate tax management
  • Educating a less sophisticated investor
  • Wealth management and perpetuating a legacy