The lunar year of the rabbit symbolizes longevity, prosperity, and peace. These three terms are a good underscore to a pivotal year at our firm, as it relates to our core mission of serving the financial and life planning needs of our clients.
A central focus of wealth management is to accumulate assets and protect those assets in their glide path towards growth. For over three decades we have strived to achieve that on behalf of clients. As Baby Boomers age, an essential transition is preparation for the distribution phase of financial life. There are fundamental challenges moving from an accumulation phase to a distribution phase.
Thanks to our affiliation as a Carson partner, we have updated tools to streamline a quicker and more efficient analysis for clients as follows:
- A measured approach to focus on not outliving your assets
- Identify retirement income gaps and offer tailored solutions to reduce that worry
- Increased coordination for tax and estate planning needs between clients, their tax, and legal advisers, and us
- Helping clients find solutions to Aging in Place (staying in your home longer)
We are happy to announce that our office has recently established new working relationships with three financial professionals in the areas of tax, estate planning, retirement income replacement, and family legacy concepts:
Stephen Crandall, the founder of SC’s Audit and Accounting Solutions, LLC. He and his team, from Prescott and Scottsdale offices, provide comprehensive tax planning and preparation for their clients. On a personal level, separate from his audit and accounting practice, Stephen Crandall is an in-house Tax consultant with our firm effective January 2023.
Ted Meyer, a Financial Advisor with ChangePath in Scottsdale. Ted has been a friend of our firm since we opened our Scottsdale office in the same building in 2017. Ted’s specialization is finding retirement income replacement options, risk management and legacy planning using insurance/annuity solutions.
Victor Yates, an Executive Vice President with MS Insentra, LLC based in Scottsdale. Joe Allen and Brian Scott have worked with Victor for several years. Victor as an independent agent working with multiple carriers to find insurance/annuity solutions for retirement, risk management and estate planning.
These three professionals, separate and independent of Lane Brothers, practice their craft across both Prescott and Scottsdale locations and are in alignment with our client centric focus. In the fullness of time, and in future review meetings we look forward to making a proper introduction to any of these three new Friends of Our Firm.
Last year’s bear market in stocks and bonds will not endure forever. While January has been off to a good start (an exceptional start in the case of international and emerging markets) no one can forecast if the sell down is over. However, our expectations are that markets inevitably pivot and turn…. it is that opportunity we focus on.
Our recommendation is to take Required Minimum Distributions (RMD’s) for IRA’s early in the year and pursuing ROTH IRA conversions as early in the year as feasible. Taking these steps early in the year, will position funds for better tax treatment when the market does resume an upward move.
A half century back, a popular folk song rang true with the words to Turn, Turn, Turn. The lyrics were biblically inspired, almost verbatim, in sum, to everything there is a season. Hats off to Mike Klein and Joe Allen for highlighting a best practice enhancement we have adopted effective 2023. A preview of this calendar approach to planning can be found by clicking the link below to our website: https://www.lanebrothers.com/value
One cannot control death and taxes is an old truism. We could add trying to control markets is futile too. What we can control are our emotions, rational expectations, and manageable outcomes to all the above. At our weekly team meeting, Mike Klein shared an outline of helping clients who want to age in place. We will be starting a conversation with clients who hold this as a financial and life priority. We can then build out a checklist of assessments, action steps and solutions to bring financial confidence to this matter.
Lastly, February 22nd Wednesday, New Life CPR/ AED Networks are installing a defibrillator in our Prescott office. In addition, they are to provide CPR training for all the Lane Brothers team members and our tenants. Post training, New Life will be demonstrating: How to use a Defibrillator. Clients are invited to stop by and view this demonstration starting at 11:15AM. We will also record a video and post a link to our website for anyone to access this demonstration anytime, anywhere. A life planning and beyond tool we hope to never use but will be prepared.
We are excited to share our new resources, associations, and enhancements to serving you, your families, and friends. Happy, Healthy and Prosperous New Year ahead.
Lane Brothers Team:
Kevin Lane, Founder Senior Wealth Advisor
Mike Klein, Managing Partner
Megan Lane, Associate Wealth Advisor and Director of Operations
Joe Allen, Wealth Advisor
Brian Scott, Wealth Advisor
Lydia Rodriguez, Senior Relationship Manager
Lane Brothers Investment Counsel (“Lane Brothers”) is a DBA of CWM, LLC, an SEC Registered Investment Adviser. Investment advisory services are offered through CWM, LLC.
SC Audit and Accounting Solutions, LLC and Lane Brothers are separate and unaffiliated entities. Lane Brothers does not provide tax preparation or accounting services.
Ted Meyer/ChangePath and Victor Yates/MS Insentra, LLC are not affiliated with Lane Brothers. Lane Brothers may recommend insurance and/or annuity solutions offered through Ted Meyer or Victor Yates in their capacity as an insurance agent.
This email is not intended to provide specific legal, tax, or other professional advice. For a comprehensive review of your personal situation, always consult with a tax or legal advisor.