How We Define Wealth Management

For high net worth individuals the advisory process emphasizes comprehensive wealth management, including the development of strategies designed to create and grow wealth, protect and preserve wealth, and distribute wealth, during life and at death, in the most tax advantaged way.  Janney Montgomery Scott LLC has extensive capabilities to address the many complex issues raised by significant wealth, including preservation of assets, liquidity concerns and risk management, charitable and philanthropic pursuits, strategies for education and retirement funding, and wealth transference and estate planning. Our team of financial professionals includes experienced trust and estate attorneys to specialists in financial planning, trusts, and insurance services.  We will consult with your own attorneys, accountants, and other personal advisors throughout the wealth management process to develop an integrated plan tailored to your unique circumstances.

Creating and Growing Wealth
Investments are discussed to ensure they are appropriate, and life insurance is reviewed for adequacy in the event of premature death.  Current liabilities are also discussed to enhance awareness of relevant liquidity issues and develop a thorough understanding of your overall financial situation.

Protecting and Preserving Wealth
A review of the overall investment portfolio is conducted to evaluate proper asset allocation and diversification.  The overall insurance program is also discussed, including life, disability, long-term care, and liability to ensure your program is adequate, appropriate, and cost effective.  The impact of taxation and tax sensitivity management is an additional focus of discussion.

Planning for the Distribution of Wealth During Life in the Most Tax Advantaged Way
Qualified retirement plans and/or other tax-deferred investments are discussed from the investment side as well as from a distribution standpoint.  If stock options are held, the vesting schedule and plan to exercise is reviewed.  For business owners, proper business succession planning is discussed and evaluated. 

Incapacity planning addresses the presence of a durable power of attorney and/or successor trustee of a revocable living trust.  Also discussed are gifting strategies to children and descendants, including UTMA’s, Section 529 prepayment of tuition and college savings plans, and other gifts such as family limited partnerships or Grantor Retained Annuity Trusts.

Charitable gifting strategies are discussed and evaluated for tax efficiency and control.  Among the alternatives considered are the merits of direct gifts, including those of appreciated securities, and the use of a pool of funds kept intact such as donor advised funds and private foundations.

Planning for the Distribution of Wealth at Death in the Most Tax Advantaged Way
Proper titling of assets is discussed and reviewed, as well as identifying executors or trustees and determining whether continuity is an issue.  Wealth distribution at death, to one’s spouse and other descendants, is evaluated from both a tax efficiency and control standpoint.  The merits of direct distributions versus a pool of funds kept intact are considered.  Charitable inclinations at death are also discussed from both a tax efficiency and control standpoint.

We recognize that wealth management is not just about finances.  As your trusted advisors, we strive to identify what you would like to accomplish with your affluence and help you manage all the complex issues raised by substantial wealth.