Comprehensive Wealth Planning and Wealth Management

Without fear of contradiction, Wealth Planning and Wealth Management are the most complicated and interesting things we do at Cambyses. They are also, individually and collectively, one of the most satisfying.

For Cambyses, Wealth Planning always precedes Wealth Management (and Wealth Management does not always follow Planning). Planning provides the roadmap and the benchmarks that determine how we get to your goals, and whether we have attained them. The Wealth Plan assesses the financial feasibility of your goals, defines steps necessary to accomplish them, and the risks that accompany them..

Cambyses follows a multi step protocol to deliver planning results: With your help and input, we

  • Assess your goals, risk tolerance, accumulation and decumulation time frame(s), whether Wealth Management makes sense for you (Wealth Planning almost always makes sense)

  • Identify the probable obstacles to achieving your goals

  • Assay and marshal your current holdings and obligations

  • Assess your current and future revenue and expense potential

  • Determine your future lifestyle expectations and requirements, Estimate future lifestyle costs, and the assets, obligations, revenues, expenses necessary to support your proposed lifestyle

  • Plot alternative paths between your current and future requirements and determine the probability outcomes will be better or worse than the plans. The process also helps develop tax mitigation strategies.

  • Assess the need to alter your current practices and patterns in order to achieve the projected future outcomes

  • Is the sacrifice is worth it (your decision, not ours)

No? Revise your expectations or revise the plan and try again

Yes? Execute and monitor the plan (or have Cambyses or someone else do it - transitioning from Wealth Planning to Wealth Management in either case). Review performance periodically and modify the plan to accommodate changing goals and changing financial conditions.

After several iterations of the process, you receive a written report that clearly articulates your

  • Financial goals, planning horizons and the risks associated with them,

  • Current and Future net worth, and the range of probable outcomes,

  • Current and projected budgets and cash flows.

The report includes one or more (possibly all) the defined strategies or plans related to

  • Debt management

  • Investment management (Acquisition Planning)

  • Emergency reserve funds

  • Pension Benefits and Retirement

  • Insurance (Life, health, long term care, disability, liability, and property)

  • Education (yourself and your family)

  • Tax mitigation

  • Special needs (if needed)

  • Business succession

  • Philanthropy (current and future)

The report always ends concludes with a discussion of and plans for

  • Effectuating, monitoring, reviewing, and optimizing the Wealth Plan, and

  • Review of your Estate Plan or suggestions for developing one.

Clearly, Comprehensive Wealth Planning is a substantial undertaking that requires a team: accountant, actuary, appraiser, attorney, bankers,  investment advisors, insurance advisors, management, and tax adviser-planners.

The process can be, and often is, simplified by taking a stepwise approach - developing or revising one or several strategies and plans as they are needed. This approach is frequently adopted for the "Big Three:" Pension Benefit-Retirement Planning, Insurance Planning, and Education Planning and is the almost exclusive approach to Acquisition Planning (which lends itself to a closed ended transactional planning approach.) The stepwise approach is reflected in our service matrix by treating the Big Three as separate services from Comprehensive Wealth Planning and Management.

We cooperate with our affiliate (Steven Roy Management) and our strategic partners, to supplement our offer and inputs with a  comprehensive array of business and personal planning, management, governance, finance, insurance, legal, and tax solutions: