Private Client Services

There are many advantages to combining tax planning with wealth management services, especially for affluent families. Here are just a few examples:

• Preserving Wealth – Families can enhance their tax positions when tax planning and wealth management align. By strategically applying tax-efficient investment strategies, leveraging deductions and credits, and timing income recognition and asset transfers properly, they minimize excessive tax liabilities that could affect their wealth over time.
• Fueling Growth – Effective tax planning isn’t just about reducing tax burdens but maximizing after-tax returns. Structuring investments and transactions in a tax-efficient manner allows families to retain more earnings for reinvestment, fostering compounded growth over time.
• Asset Protection – Tax and wealth planning come together to combat potential risks and legal liabilities. Using strategic tools like trusts, family limited partnerships, or offshore structures, families can shield their wealth from creditors, lawsuits, and other threats, ensuring its preservation.
• Smooth Succession – Tax planning plays a pivotal role in ensuring a smooth transfer of wealth across generations. Incorporating tax-efficient strategies into family governance and succession plans minimizes the tax impact of wealth transfers, protects the continuity of business operations and promotes family harmony.
• Optimizing Philanthropy – For families with philanthropic endeavors, charitable giving goes even further with the integration of tax and wealth planning. Capitalizing on tax deductions with charitable vehicles like donor-advised funds or private foundations boosts the impact of their contributions while reaping tax benefits.
• Ensuring Compliance and Risk Mitigation – Tax planning and wealth planning integration goes beyond financial gains; it ensures compliance with tax laws. Proactive tax planning lessens the noncompliance risks of penalties, audits, and other adverse consequences.
• Informed Decision-Making – Considering tax implications in investment strategies, business ventures, estate planning, and charitable giving leads to well-informed decisions that optimize financial outcomes while alleviating tax burdens.

Overall, holistic financial decision-making with integrated tax and wealth planning can maximize wealth preservation, create wealth growth, protect assets, facilitate succession planning, optimize philanthropic ventures, and ensure tax compliance. When you work with Boulay, it eliminates the time it takes to personally transfer the advice and strategies you receive from one service discipline to the next. With a comprehensive approach, all financial disciplines are proactively involved and working together to make sure the plan and strategic direction is appropriate for your needs.

Boulay’s relationship advisor aligns the advice of subject matter experts across investment management, financial planning, tax planning and estate services. Our professionals collaborate and integrate solutions to our client’s financial challenges.

We believe personalized attention tailored to your unique financial situation encourages healthy growth. We usually meet quarterly with our clients, yet we understand that each client’s needs differ. Engagement with Boulay’s various services determines the appropriate meeting schedule and empowers us to consider each client’s financial objectives, aspirations and portfolio to properly accommodate their circumstances.

New plan implementation or significant life changes may warrant meeting with an advisor more often. These frequent meetings allow for adaptation and assessment of the client’s financial landscape, where we look at the bigger picture to develop the best strategy for their goals.

Discussion with a private client services advisor often involves a wide variety of topics like personal financial goals, reviewing the client’s investment portfolio and appropriate strategies for wealth management. A client’s individual needs decide the specific subject matter, but generally contain some of the following ideas:

• Financial Objectives – An advisor will dive into the client’s short- and long-term goals like retirement, education, wealth preservation, and philanthropy. Communicating personal aspirations with an advisor helps tailor strategies for each client, personalized to their unique situation.
• Risk Assessment and Time Horizon – An advisor gauges the client’s risk tolerance and shapes investments based on these risks. Financial goals also influence the time horizon, or the length of time needed to achieve it.
• Investment Portfolio Evaluation– Stocks, bonds, real estate, etc. are all considered when reviewing the client’s investment portfolio. An advisor checks the performance and diversification while comparing it against known benchmarks.
• Customized Recommendations – Using the client’s goals, risk profile and portfolio, an advisor will recommend strategies for allocation and investment adjustments, or specific strategies based on their needs.
• Market Insights – An experienced advisor shares invaluable information on market trends, economic conditions and potential investment opportunities or risks, aiding your informed decision-making.
• Private Client Services – An advisor explains the integration of estate and trust planning, tax planning, insurance coverage, charitable gift advising and succession planning for business owners if appropriate.
• Regular Communication – Together with the client, a schedule of regular meetings keeps everyone informed about the investment portfolio’s progress, any relevant market updates or changes in the financial landscape.

These conversations are all about the client, everything is personalized to fit your unique circumstances and preferences. A private client service advisor offers knowledgeable and seasoned support, tailored specifically to help the client reach their financial goals and effectively navigate the complexities of wealth management.

While Boulay offers a suite of comprehensive services, we are adept at working in partnership with a variety of outside advisors.  We frequently include these advisors in regular client meetings and, at the client’s discretion, can share information to ensure coordinated advice for any obstacles or challenges.