Wealth Simplified
Is There A Smarter Way
To Manage Your Wealth?
Asset Consolidation Can Help Us Stay Aligned––Together Expanding What Is Possible With Your Wealth
Investors commonly focus on the returns of their investment portfolio and overlook or minimize the intrinsic value derived from investing in the advisory relationship.
At Satovsky, our deepest commitment is to nurture meaningful, life-long relationships based on trust, integrity and familiarity.
Our success is contingent on our clients’ success, which bears the most fruit when both parties feel confident that they are “on the same page”. The more deeply we are aligned, the better we can step into your shoes and steward your journey from start to finish, providing guidance no matter what life throws at you along the way.
360 View––Bringing Your Entire Financial Picture Into Focus
The management of your finances is analogous to the management of your physical health – most people have one primary family doctor who maintains general oversight over their well-being and refer specialists on an as-needed basis.
Working with multiple advisors, similar to working with multiple family doctors, means you are juggling isolated points of view.
Working with one advisory team allows for more holistic oversight and management of your cash flow and balance sheet, and ensures your assets are working together in a fully integrated way. From a planning point of view, it can also facilitate your estate planning and gifting strategies for maximum results.
Smarter Asset Allocation
Having your entire portfolio together – or at least the majority of it – enables you and your financial advisor to see the big picture. Taking advantage of this broad perspective allows you to make savvier investment decisions, improve diversification, and avoid duplication of investment types. You may also find it easier to make adjustments when changes arise in your life circumstances.
More than picking the “right” stock, identifying and rebalancing your optimal asset allocation over time may determine the strength of your returns. Multiple advisors blindly buying different funds or stocks without a proper overview limits your ability to know your true risk.
Optimized Tax Opportunities
Consolidation can help you implement tax-efficient investment strategies such as Asset Location and Tax Loss Harvesting to save you money now and over time.
Having both retirement and non-retirement accounts under a single advisor allows for the optimization of asset location: deploying tax-efficient assets in your taxable account and less tax-efficient assets in your retirement account.
Tax-loss harvesting in a consolidated taxable account enables you to take losses more efficiently and effectively during price dislocations in the markets. A single advisor having the ability to view all your holdings makes it more likely that the benefit will not be lost through wash sale rules.
Better Management of Contributions & Withdrawals
Not all accounts are created equally and there are advantages to bifurcating savings into accounts with different tax characteristics – i.e., non-qualified and qualified, traditional and Roth. We help you make the most of your contributions while being mindful of annual limits and deductibility, as well as conversion opportunities.
Upon retirement, or at any point when you may need to draw from your portfolio, we assess the best sources from which to draw. At age 72, when you must take required minimum distributions (RMDs) from your retirement accounts, you are able to do so as part of a coordinated and automated strategy.
Consolidating these accounts also simplifies your end-of-year tax reporting. For those who are charitably inclined, our team can also help you set up tax-advantaged Qualified Charitable Donations (QCDs).
Life Simplified––Affording You Peace Of Mind & Well-Being
Fewer Loose Ends to Manage
Time is precious today. Coordinating multiple advisor relationships and all the associated accounts, passwords and paperwork can stifle your time, flexibility and efficiency. Working with one advisory team eliminates the hassle of becoming a manager of managers.
Simpler Reporting & Administration
Working with one advisory team means all your statements come from one source, and tax reporting related to investment income and dispositions is made easier to manage. Come tax season, your accountant will thank you!
Which Of Your Assets Can Be Consolidated?
Cash Needs
Proper cashflow management is a fundamental part of financial planning, no matter what stage of life you are in. We work with you to assess how much cash you actually need and then invest the rest in alignment with your future goals to ensure your wealth is always working for you. Linking your bank and trust accounts to your investment account helps to systemize your investment savings and spending habits and manage transactions with more efficiency.
Inheritance
Proper cashflow management is a fundamental part of financial planning, no matter what stage of life you are in. We work with you to assess how much cash you actually need and then invest the rest in alignment with your future goals to ensure your wealth is always working for you. Linking your bank and trust accounts to your investment account helps to systemize your investment savings and spending habits and manage transactions with more efficiency.
Retirement
The preparation for and enjoyment of retirement entails the management of various accounts including IRAs, Roth IRAs, Self Employed 401K, Employer 401K plans, SEPs or 403(b). Consolidating these accounts allows you to set up an automated distribution plan to ensure you meet the required amounts with fewer tax statements to process at the end of the year.
Employee Compensation
Often times an employer will grant employee stock purchase plans (ESPPs) or employees restricted stock units (RSUs) subject to a vesting schedule. What you do with those shares when they vest is important for your long-term financial plan. We help you track your vesting schedule and advise on whether you should keep the shares, and if not, then when and how to sell them.
Real Estate
Buying or selling property often causes significant fluctuations in one’s overall financial picture. We work with you to assess the opportunity cost of the transaction relative to the potential return of other investments, and determine how proceeds should be invested relative to your unique liquidity needs and long-term goals.
Education
Paying for your kid’s education doesn’t have to come at a sacrifice to you. We help you plan the right way to meet the education needs of your dependents while still growing your wealth and staying on course, which may include setting up tax-advantaged saving plans and managing UTMA accounts for your dependents.
Business Sales
Selling a business will yield an increase in your income, which in turn could have significant tax implications. The best way to minimize your tax obligations may not be obvious, and it’s important to take your entire financial picture into consideration when assessing the right deal structure, determining how the proceeds will be taxed, and what to do with the proceeds once they’ve been liquidated.
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