Our client was the managing director of a large law firm in town. He had a large family, and was at the peak of his income earning years. The problem he was encountering was that he didn’t have the time to pay attention to his personal finances, and had never taken a look at his 401(k). He wasn’t sure what to make of open enrollment materials that were sent from his H.R. Department, and wasn’t taking advantage of executive compensation plans. He wasn’t sure what if he was on track for a successful retirement, and didn’t know how much he was spending, or if he was saving enough. In his case, he was just busy and needed to engage our personal financial concierge services.
We started by collecting all of his financial documents and creating a balance sheet. We looked at his spending and created a plan to determine how much he and his wife would need to save in order to retire comfortably. Now, nearly a decade later, anytime he gets anything from corporate headquarters, he immediately forwards it to us. We review it, and set up a call to make recommendations. We also review his case annually to ensure that he’s not overspending, and review his savings to make sure that they’re still on track for retirement. Our client has told us numerous times that he has extreme peace of mind, and that the fee he has paid our firm has been “so worth it” because he knows that we understand his personal situation better than anyone – save for his immediate family – and that he knows he can call on us anytime to help him make good financial decisions.