Nichols Wealth Partners
561-939-8323
Wherever your scores lie, you have the power to make great strides toward the retirement you really want.
Completing this scorecard will give you an indication of the areas of your financial life where more attention will provide more confidence. To get started, just give us your name, phone and email below.
...You’ll be eligible for a complimentary assessment of your scorecard and consultation with a Nichols Wealth Advisor in one of our offices. Your fiduciary advisor will help you understand where you are in the process of preparing for retirement, the steps you can take on your path to greater financial health, and how to score the best possible financial situation for your retirement years.
From the four statements in the mindset below, please select the number between 1 and 10 which best describes where you feel you are currently.
The key here is for you to have a trusted advisor who can assist in all areas of your overall wealth management plan as you head into retirement and beyond. You should think of a trusted advisor as your personal CFO who stands beside you for every important financial decision.
You do not have a trusted advisor, nor coordination of your financial strategies, or you “do it yourself”
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The main goal here is for you to have a trusted advisor who offers both strategy and choice. By ‘strategy’, we mean a well-thought-out investment plan. By ‘choice’ we mean an investment professional who is independent and fee-based with no conflict of interest.
Your financial advisor(s) has limited capacity to evaluate all available options (for example, insurance license only)
If you are retired or soon to be retired, the best peace of mind you can have is confidence your plan and investments will allow you to maintain the lifestyle you’re currently accustomed to without having the concern you’ll run out of resources.
You have significant concerns in your ability to maintain your lifestyle and have not developed a strategy to provide you peace of mind
A robust reporting system, including a document warehouse for digitally storing legal documents, tax returns, insurance policies, and other pertinent information, is a game changer and means access to your financial information – and your spouse’s -- is just a click away.
You do not have a systematized, on-line reporting system consolidating all of your assets
Not everyone desires tax services. We want to make sure if you do use a tax professional, he or she is qualified to handle your unique interests and those of the end user if different. Additionally, this advisor should be willing to work with your team to help coordinate all necessary details for your family’s benefit.
Your accounting needs are simple and do not require the use of a qualified tax firm
There are many levels to a well-thought-out estate plan, and many people don’t have even the most basic wills and trusts -- in place. Estates often become more complex over time. Understanding and monitoring your legal needs benefits from having an attorney as part of your trusted team of advisors.
You do not have any legal documents drafted or they are outdated
If you have no charitable inclination, there’s really no need to have a perfect score on this. Regardless, your goal should be to set down your charitable desires while you're living and at death, and to determine benefits to you from tax, legal, and personal preference perspectives.
You make periodic charitable contributions, but you do not have any established plans while living or at death
Not everybody needs all types of insurance. We want to make sure if you do currently have policies, they are evaluated annually or bi-annually, and that you understand exactly what they cover, how and under what circumstances they can be initiated, when claims are paid.
You have some insurances which have not been properly evaluated or you have not evaluated the potential use of insurances in your plan
This focuses on the continuity of family wealth, and considers two questions: “Are both spouses completely aware of how their wealth management plan is structured?” and “Are other family members aware?” This process creates an easier transition after the death of the first, and later, second spouse.
Nobody has an understanding of our family wealth
This mindset sounds simple, but the truth is simplicity and peace of mind are not very common among people with whom we’ve had initial discussions. A simple, well-understood plan covering all facets of your financial well-being, can ensure you’re in the best position possible to enjoy your retirement.
Your financial planning overwhelms you. You spend too much time worrying about it and do not have the peace of mind you desire
