Wins for clients
You may wonder “What does a financial advisor do besides investment management?”
Doncaster Wealth has brought these wins to clients:
Helped clients develop a plan that took into account their competing financial goals (retirement, college for kids, upgrading the current house, buying a new house in the near future, and actually enjoying the here and now).
Helped clients with a strategy that will save the family hundreds of thousands in taxes: clients can enjoy life more.
Helped a client realize he could retire within a year.
Helped clients realize their child’s private high school and college tuition goals had been met, so they no longer needed to save for education goals.
Helped client who became self-employed realize she could put way an extra $15k/year toward her Solo 401(k), which will also save around $5k in taxes.
Helped parents help their children by setting up Roth IRA’s for the child’s income, gifting to an UTMA, and setting up a designated account they hold to give to the children later.
Helped client figure a better way to pay her student loans off: pay down the home mortgage, and cash out refinance to pay off the student loans. Her student loans have been swapped into a lower interest rate that is tax-deductible, with a lower payment over 30 years.
Helped clients move excess cash they had been sitting on into productive investments.
Helped a self-employed client improve her pay structure to save on payroll taxes: will likely save tens of thousands in taxes each year.
Helped a client understand current insurance policy, how it works, where it will help, and its downsides.
Helped clients consolidate their assets to have a cohesive investment strategy that fits in their plan.
Helped clients think through options on company stock. Previously, it had just been on auto-pilot, but now there is a specified goal, risk approach, and tax strategy.
Helped clients develop a strategy to hold a specific amount of employer stock. Their financial plan works without the employer stock, so they wanted a segment to have a ‘home run’ opportunity.
Helped a client set up a solo 401(k) in order to contribute more than the $7,000 limit to an IRA.
Helped a client who inherited her father’s IRA invest in a way that fit her goals, while making sure she follows the inherited IRA rules. She’ll also pay the least amount in taxes possible on this account.
Helped a client’s parents (who then became clients) create a plan, invest appropriately, and retire confidently.
Helped parents with a strategy to turn their children’s 529 plans into Roth IRA’s to set them up for retirement.
Helped clients realize it would be better to rent than buy the next place they live, as they’re expecting to only live there a handful of years before retiring.
Helped clients find missing deduction on their tax return.
Helped a client with financial decisions during a divorce.
Helped clients reposition cash into higher yielding tax-free option.
Helped a client save on his tax bill when selling a house by identifying acquisition expenses he previously ignored.
Helped a client with a portfolio audit which would help save a significant amount of taxes each year.
Helped a client set up a donor advised fund and ‘deduction bunch’.
Helped client tax-efficiently generate cash for buying their next home.
Helped a client (and their accountant) with an idea to save significant taxes via property tax deductions.
Helped a client with Roth conversions to save on future retirement taxes.
Helped a client realize they were not receiving the full 401(k) match because of the timing of their contributions.
Helped a client fund the ‘Mega Backdoor Roth’ correctly in their 401(k) plan.
Helped a client stick to saving a big chunk of their income to rapidly improve their retirement trajectory.
Helped a client obtain the right amount of life and disability insurance.
Helped a client with their accountant increase their QBI deduction.
Helped a client implement changes in their plan to help their child with special needs.
Helped a client analyze buying vs. leasing a car.
Helped a client analyze buying a house vs. renting.
Helped a client evaluate home mortgage options.
Helped a client analyze their stock options and developed a strategy to exercise options appropriately.
Helped retired clients determine how much they could gift to their children and grandchildren and still live a comfortable retirement.
Helped clients analyze and maximize their employer benefits.
Helped clients truly diversify their previously concentrated portfolio.
Helped clients reduce future taxes by tax-loss harvesting during a volatile period.
Helped clients with an asset location strategy to save on taxes.
Helped clients evaluate whether to take a lump sum or a pension from their employer.
Helped keep clients accountable in adjusting the titling on their assets to go to their trust.