Wealth Management Defined

If you ask ten investors or even ten “wealth managers” to define Wealth Management, you will likely receive ten very different answers. This is because Wealth Management encompasses so many different aspects of one’s financial life.

At Vespoke we define Wealth Management as:

A highly personal, comprehensive and consultative process whereby the wealth manager obtains relevant information pertaining to a client’s financial goals which they then use to create a custom tailored plan utilizing the appropriate financial products and services available to grow, protect, and disseminate one’s wealth in a tax-smart manner.

Our role is far more comprehensive than just offering a client investment advice.

We provide a holistic suite of services that encompasses all parts of one’s financial life.

Comprehensive Financial Planning

The intricacies of achieving your personal and financial goals are challenging and often complex. Our comprehensive approach to financial planning focuses on your investment goals, resources, circumstances, and constraints, enabling us to enhance the probability of your success.

We begin with a clearly defined process.

Partner with us and allow us to be your guide as we navigate along the path of your financial journey.

Investment Strategy

Do your financial objectives include the preservation of capital, income generation, wealth accumulation, tax-efficiencies, or a combination of these? We realize that your personal & financial circumstances are unique. That is why we begin with an extensive DISCOVERY process that focuses on your investment goals, resources, situation, and constraints. It’s this attention to detail that allows us to create custom investment solutions that address a wide range of financial needs.

We partner with you to develop the most appropriate financial strategy
given your situation.

Our investment process has been developed based on modern portfolio theory and industry best practices. We believe a written, well-defined Investment Policy Statement (IPS) that captures your investment objectives and constraints is imperative to obtain favorable investment results, manage expectations and hold all parties accountable. The major components of our IPS include:
  • Liquidity
  • Time horizon
  • Income tax concerns
  • Legal & regulatory factors
After creating your personalized investment strategy, we continue to monitor your portfolio and keep you abreast of ongoing refinements. An annual meeting allows us to update your plan for any changes that have occurred, including updates to your objectives.

Retirement Planning

For many generations, retirement signified the culmination of 40+ years of long hours, hard work and sacrifice in the labor force. Today without proper planning, complete separation from employment may not be practical or financially prudent. Regardless of what point you are in your career, it is imperative to start planning for retirement as early as possible.
We want to know, “What does retirement mean to you?” Does it involve starting a business you have always dreamed of, working part-time just “for something to do” or even sailing around the world? There isn’t a “one size fits all” approach to how you live out your golden years. Due to medical advancements, people are living longer, more productive lives. As a result, the number of years spent in retirement may be significantly greater than what previous generations experienced.

“If you fail to plan, you are planning to fail!”

- Benjamin Franklin

We want to know what keeps you up at night. Our retirement planning process begins with an extensive DISCOVERY meeting that focuses on you. Some of the most common questions we receive from our clients include: Are we currently saving enough? Will our nest egg sustain us through retirement? Are our investment accounts performing as they should? Will our government and/or employer pension plans be sufficient? Can we count on the Social Security system for benefits when we need them? Be assured, we are here to address these and any other concerns you may have.

We partner with you to develop the most appropriate plan to help in the pursuit
of the lifestyle you envision.

Education Planning

Are you concerned about funding your children’s college education? We are here to tell you that you are not alone. With higher education costs rising at an unprecedented rate, it is now more challenging than ever to ensure that your children or grandchildren have the same opportunities that you did. Recent projections estimate that in just a few short years, the cost of tuition for a private university will exceed $130,000 annually. Having a well-defined, tax-efficient strategy in place increases the likelihood that your family will have resources available when they need them.

Education planning involves designing custom solutions that
specifically address your unique personal & financial circumstances.

Are you actively gathering information that you hope will help you make educated decisions and finding it a little overwhelming? We are here to help. Some of the most common questions we receive from our clients include: Will our children need financial aid, and if so, are we going to be eligible? Are scholarships available to help us cover these costs, and how do we apply? When is the right time to start funding an education savings account, and are there tax benefits to these accounts? Are there any special considerations related to ownership of the account, and will this impact our eligibility for financial aid in the future? Is saving for our children’s education going to impact our other long-term financial goals? During our extensive DISCOVERY meeting, we will address these and any other concerns you have.

We partner with you to develop the most appropriate plan in light of your
family’s available resources.

Risk Management & Insurance Analysis

Are you adequately covered? Risk management and insurance planning involves creating strategies which enable you to preserve your wealth by transferring risk away from you and your family. We create comprehensive insurance plans that include risk evaluation and assessment, enabling us to determine the appropriate coverage required to mitigate those risks. Without proper planning, every aspect of your financial life could be vulnerable.

Insurance provides leverage to address the “What if” scenarios in our lives.

Coverage and their application include:
Insurance planning is a critical component of any comprehensive financial plan. Through our extensive DISCOVERY process, we will address this and any other concerns you have.

We review your entire financial situation and work to make the most appropriate insurance recommendations as we strive to help secure your family’s future.

Trust & Estate Planning

“Why do I need an estate plan? I am not a “wealthy” individual.” Estate planning encompasses so much more than just the preservation of wealth. A properly developed estate plan can protect you, and your family, by giving you the peace of mind that the legacy you leave will transcend generations.

Taking the initial steps to develop an estate plan can be daunting. We are here to put you at ease, and to empower you and your family with choice and opportunity, now and into the future. Engaging an attorney to create a last will and testament, durable power of attorney, and an advanced medical directive, is one component of this process. During our extensive DISCOVERY meeting we will address these and many other topics, including:

Partner with us to develop an estate plan with appropriate strategies to help ensure your family can be cared for.