Client Journey: A Corporate Executive & His Family

Moment in the Journey

A corporate executive who is married with three children came to The Colony Group with several financial concerns after acquiring significant wealth from stock options through a previous employer. At the time he and his wife came to see us, their two oldest children were in college, their youngest was a minor with special needs, and the family was in the process of relocating to Boston.

Highlights of the Journey

The Colony Group began by helping the family define its financial goals and then identifying and prioritizing the issues to be addressed during the first year of their relationship. The client’s team then began to structure and implement a strategic plan to address each issue, including:

• Review of client’s current estate plan and recommendations for structuring it in a way that would meet their unique needs, including a special needs trust for their youngest child, and transferring a portion of an interest in a venture fund to the children, in trust.
• Review and analysis of exiting investment accounts, including their history and performance, which were previously held at a different brokerage manager. An appropriate long-term investment allocation was determined and money was then invested in a balanced portfolio of stocks and bonds appropriate to their goals and risk tolerance.
• Discussion around retirement goals and anticipated income needs, including a review of their youngest son’s expected financial needs during his adulthood, including housing.
• Consideration of tax-savings strategies to address tax liabilities for the year and preparation of income tax returns for the clients and children.  Review of prior years’ returns to ensure all deductions were taken and no issues lingered.
• Review of the client’s short-term cash flow needs and taking steps to make cash available when required.

The Journey Goes On

The clients now have new estate planning documents in place, including a plan which, in the event of their deaths, aims to ensure their special needs son will have adequate assets available to him for the remainder of his life. They now have a long-term investment plan established and information about where they stand in relation to meeting their financial goals as well as what is required for them to achieve those goals. Additionally, their tax planning and preparation needs are being met by a team of counselors who understand their total financial picture.

The clients continue to meet periodically with their Colony Group team to address current economic issues, monitor their financial plan, and alter or amend the plan if their circumstances change.

These case studies are based on actual events in which certain of The Colony Group’s counselors were involved and were selected to represent a cross section of client situations that The Colony Group has encountered. All clients have different and unique circumstances and needs, and what may have been the appropriate solution for one particular client may not be the appropriate solution for your particular set of circumstances. There can be no assurance that The Colony Group will be able to achieve the same or similar results in comparable situations.

Please note that these case studies were prepared without client input and should not be construed as an endorsement or statement of the client’s experience with The Colony Group.