High Net Worth Families
Most financial advisors provide wealth management and financial planning to a wide range of clients, but only a handful of advisors exclusively serve high net worth individuals and families. This is because high net worth clients have specialized needs and goals. Whether it is tax or estate planning, establishing a legacy, or creating a “rainy day fund,” our tax and legal background enable us to uniquely serve our clients. At Taylor Financial Group, we intentionally limit our focus to high net worth clients so that we can provide our clients with the appropriate attention and highest level of service possible.
We proudly serve these areas: Franklin Lakes, Mahwah, Oakland, Ramsey, Wyckoff, Ridgewood, Glen Rock, Saddle River, Upper Saddle River, Woodcliff Lake, Old Tappan, Allendale, Montvale, Wayne and Paramus, Bergen County, Morris County, Essex County, Passaic County, Rockland County, Orange County, New Jersey, New York, and all across the United States.
Planning for High Net Worth Individuals & Families
In order to provide the most comprehensive advice and service to our clients, we work hard to match our clients’ assets with investment strategies that might best meet their needs and help them accomplish their goals. More than that, we learn about our clients’ families – spouses, parents, children and grandchildren – so that we can help guide their wealth and their wishes across generations. Our experience has revealed that building relationships with the entire family and managing wealth across generations can pave the way for the most comprehensive planning.
Different clients want different services, depending on what is happening in their lives at any given time. That’s why we offer an extensive menu of services to our high net worth clients, which you can view by clicking here. We are deeply committed to every single client and purposely serve less than 100 families, so that we can maintain a personal relationship with each and every one of them. No matter how simple or complex your needs, we are prepared to help you plan for your future.
Be SMART – Saving More After Retirement Taxes
Unfortunately, many retirees are shocked to find out just how much of their income is subject to taxes. According to the Nationwide Retirement Institute, one in four recent retirees have paid thousands of dollars more in taxes in retirement than they had anticipated. Nearly half (46%) of recent retirees wish that they had planned better for handling taxes in retirement. Without a comprehensive tax plan, you risk facing tax surprises that can debilitate your wealth in retirement. Click here for more.
Assistance to Loved Ones
We help our clients understand gifting strategies and how-to best care for their loved ones. Whether it’s your kids, grandkids or whoever else you’d like to help further their education, there are tax efficient strategies you can use to help you achieve that goal. We provide advice on college planning, Roth IRAs for children, UGMA/UTMAs, and the establishment of Trusts. We also discuss how best to handle financial affairs and caregiving arrangements for your elderly loves ones.
We review existing insurance policies, providing a detailed analysis of life insurance needs and disability, while considering health insurance plans, homeowner’s insurance, and liability coverage. We discuss the importance of long-term care planning and help implement these types of insurance plans. If the breadwinner in the family dies or is injured, how will the family members pay their bills? Do you want to put the burden of caregiving on your family members or plan for assistance when the time comes? We help answer all of these questions and we also include an analysis of health savings accounts (HSAs) and provide Medicare advice. Click here to download our Healthcare Quick Reference Guide
Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. We help you to manage the impact of taxes on your financial efforts through careful and consistent preparation. Learn more
With targets in place, we are able to create a risk management strategy. Effective risk management often involves a sound insurance strategy, including personal insurance, long term care insurance, liability insurance, and life insurance. Learn more
Effective estate management enables you to manage your affairs during your lifetime and control the distribution of your wealth after death. We help you spell out your healthcare wishes and ensure that they’re carried out, as well as designate someone to manage your financial affairs should you be unable to do so. Learn more