Goals Based Wealth Planning

Goals Based Wealth Planning
Client Scenario:
These clients are a high-net-worth couple who have been married for 10 years and are raising three children; the wife receives inheritance from a late family member. The inheritance she receives alters her assets significantly, as she is the primary caretaker for the couple’s children, which makes the husband the primary income earner.

Action Plan: When taking into account the couple’s long- and short-term goals, there were three areas of concern to focus on:

  1. Financial stability. Security in one’s financial future is universally sought after. Unfortunately, the couple in question did not have this same confidence. We helped them develop:
    • A plan that takes into account all personal and family goals, as well as considers many possible financial scenarios, therefore strengthening the chances of achieving said goals
    • Present and future options for income strategies
    • An investment plan that sets and recognizes goals while keeping risk in mind, and mitigating losses when the market is down
  2. Inheritance. There are many life events that can bring significant change to a family’s situation, some not always as positive as others. In this case, one of these clients has benefited from an inheritance. Accordingly, we worked on the following:
    • Estate and charitable planning
    • Protection of the female client’s assets, as she wanted to keep inherited assets separate from those pooled
    • Income and investment planning as a reaction to the financial windfall
  3. Family planning. Of course, the most precious assets in many parents’ lives are their children. We helped them develop plans to protect what they care about most. Here’s what we presented the clients with:
    • Strategies for risk management and insurance that mitigate the risk of a family member becoming medically disabled, passing away, or requiring long-term care
    • A break-down of trusts and other various tools that would serve to divide assets appropriately among family members
    • Plans for higher education options, as well as other educational opportunities


The preceding is a hypothetical case study and is for illustrative purposes only. Actual performance and results will vary. Past performance is no guarantee of future results. This study does not represent actual clients. Any resemblance to actual people or situations is purely coincidental. Fixed insurance products and services are offered by Robert L. Stern Financial Services.