Strategic Wealth Management
McGowanGroup Asset Management (MGAM) believes that every client benefits from a plan that assists in meeting their financial goals. More than a registered investment advisor, our firm analyzes the entire financial health of our clients. We are independent advisors with no other affiliation and utilize a transparent asset based fee-only model for compensation. Our team will make recommendations to improve cash flow, provide estate recommendations and recommendations designed to maintain wealth for generations.
Example Financial Goals:
- Preparing for retirement
- Planning for a major business acquisition, merger or exit
- Legacy planning
- Limiting tax liabilities
- Contributions to philanthropy
The process begins with an Investment Plan Outline. This analysis allows MGAM to understand our clients on a more personal level and discover what is most important to them. Consolidation results in the post transfer review and allocation implementation. Comprehensive performance tracking is the initial result allowing for more scientific decisions based upon the actual results. Quarterly reviews ensure follow up and customization for cash flow.
Trusts and Estates
As part of the overall planning process we recommend conference calls with both your qualified tax professional and estate planning attorney. As the investment advisor, our part of the process involves the implementation of the estate plan through trusts and beneficiary designations.
Estate planning coordination with your chosen attorney includes review of current documents, needed changes, logistics projections under different scenarios, executor/trustee recommendations and education through MGAM’s Trustee Bootcamp.
MGAM also provides a list of estate planning attorneys that we have worked with successfully over the long term. The coordination and implementation services are included as part of the MGAM wealth management platform.
Tax Planning and Preparation
The recommended annual summer planning call with your CPA is designed to both provide the information they will need efficiently and to implement the CPA’s advice in harmony with the investment plan.
Your CPA will automatically receive the documentation required for tax planning and execution through the MGAM client portal. Coordination for tax law and bracket changes is built into the process to facilitate advance planning.
Education and Philanthropy
MGAM’s Trustee Bootcamp includes updates for your executor and key trustees. The process for engaging the family includes white boarding the plan and contingencies for better understanding by all generations top to bottom.
MGAM Coordination and timing of charitable trusts along with family activities can enhance tax planning through a long term vision and process. Coordinating donor advised funds can play a key part of accomplishing objectives.
Frequently Asked Questions
Exit strategy planning often includes employee stock ownership plans, deferred compensation plans, business valuation metrics, coordination with economic cycles, and confidential negotiation support.
Asset Management and Investment Management are focused on making successful investment allocations designed to protect assets and provide potential superior performance. Mathematical performance measurement improves decision making, especially in challenging markets.
Wealth management services are more comprehensive and begins with a written plan including overall objectives. Tax control, education of beneficiaries, legacy building, insurance coordination, charitable giving, philanthropy, and retirement planning services are included as part of the wealth management process at MGAM.
Spencer McGowan has earned the Certified Investment Management Analyst (CIMA) designation from Wharton Business School.
MGAM’s actual long term experience in Estate processing, including nearly all types of trusts, provides clients with valuable resources and coordination with your Estate Planning attorney.
Future Trustees and Executors are encouraged to join The McGowanGroup’s Trustee Bootcamp to further successful outcomes for each family.
Conference calls with Estate Planning attorneys result in our being able to understand and document the client’s current plan as well as provide logistics & recommendations based upon over 30 years of experience in processing estates. Engaging the primary Executor and Trustees before death through our Trustee Bootcamp provides helpful education for the future decision makers.
The Next Step
Please complete our New Client Questionnaire to start the process of implementing a plan with specific insights and recommendations. Our office will contact you to schedule your review.
Minimum requested consolidation is $500,000 during the first year of working with The McGowanGroup.