Multi-Generational Family
Overview:
George and Dorothy Brown, deeply rooted in New Jersey, have built a significant nest egg through years of prudent saving and living within their means.
Their story is not just about accumulating wealth; it’s about creating a lasting legacy for their family. With four children, two of whom are starting their own families and two are finishing up Ivy League educations, the Browns are at a pivotal point for their financial well-being.
Their $5 million in savings (401ks, IRAs, personal savings accounts, other assets) is more than a retirement fund; it’s the cornerstone of a multigenerational legacy.
Biggest Concerns:
The Browns want to partner with a financial advisor who aligns with their values and goals, operates fee-only, and acts as a fiduciary. Their past experiences have taught them the importance of partnering with the right financial firm.
They are focused on efficient wealth transfer, timely tax strategies, and maintaining their family’s culture and goals.
Unique Client Situation:
The Browns had legacy municipal bond portfolios, which we transitioned into more dynamic long-term investment vehicles. This shift was carefully managed to maintain tax-free income while addressing tax consequences without losing sight of their broader family goals.
Integra Wealth Solutions’ Services:
- Retirement and legacy planning
- The use of trusts
- Financial education for family members across generations
- Services focused on wealth accumulation, preservation, and distribution
- Tax-efficient strategies
- Coordination with other professionals like CPAs and estate attorneys
Integra’s Approach:
We embraced the Browns’ multi-generational planning needs by engaging with each family member and understanding their individual and collective goals. Our strategy involved setting up trust and estate plans tailored to their unique situation, managing portfolios, and integrating third-party investments suitable for high-net-worth families. We committed to building a plan that resonates with the family’s values and objectives, seeking a legacy that spans generations.
