Services
Whether you are just starting out or well into your working years, having a clear financial plan in place makes every decision easier. The following areas of focus are available to individual clients.
Planning for retirement is less about picking investments and more about understanding how much you need, when you will need it, and how to get there efficiently. Services include defining income goals, establishing appropriate savings vehicles, managing tax exposure across the accumulation phase, and building a distribution strategy for when the time comes.
Investment recommendations are built around each client’s specific goals, time horizon, and tolerance for risk. Portfolios are constructed using a range of investment vehicles with a focus on managing costs, tax efficiency, and alignment with long-term objectives. Existing accounts held elsewhere are also reviewed as part of the overall strategy.
An income that stops due to illness, injury, or death can undo years of financial progress. Insurance coverage is reviewed as part of every financial plan to ensure clients are appropriately protected for their current and future situation.
Working alongside a client’s CPA, tax strategy is incorporated into the financial plan from the beginning, not added on at the end. Areas of focus include tax-efficient account structures, contribution timing, capital gains management, tax-loss harvesting, and ensuring that retirement savings strategies are aligned with each client’s current and projected tax situation.
Ensuring that assets are transferred according to a client’s wishes, efficiently and with minimal tax impact, is an important component of long-term financial planning. Services include reviewing beneficiary designations, coordinating with estate planning attorneys, and ensuring that the overall plan accounts for what happens after.
Choosing the right health insurance is an important decision that affects every other part of a financial plan. Services include navigating the Health Insurance Marketplace, reviewing employer open enrollment options, managing coverage transitions after life events, and Medicare consulting for those approaching or entering retirement.
The first conversation is free and comes with no obligation.
The best time to start is as early as possible. Starting in your 20s or 30s gives time the most room to work in your favor. That said, there is no wrong time to build a plan, the sooner you start, the more options you have and the more flexibility your plan will carry.
A Traditional IRA allows tax-deductible contributions now, with taxes paid when you withdraw in retirement. A Roth IRA uses after-tax contributions, but all growth and withdrawals in retirement are completely tax-free. Which is better depends on your current income, tax bracket, and expected retirement income, a financial advisor can help you determine the right fit.
You have four options: leave it in your former employer’s plan if permitted, roll it to a new employer’s plan, roll it into an IRA, or cash it out. Cashing out typically results in taxes and penalties and is generally the least favorable option. A financial advisor can walk through the tradeoffs of each and help you choose the right move.
Through LPL Financial, clients have access to a comprehensive range of investment vehicles including individual stocks, bonds, mutual funds, ETFs, alternative investments, and managed portfolio programs. This includes strategies typically reserved for high-net-worth investors, made available through Beacon Financial Group’s relationship with LPL Financial.
Yes. Tax strategy is incorporated into the financial plan from the beginning, not added on at the end. Tommy Cooper works alongside your CPA to address tax-efficient account structures, contribution timing, capital gains management, tax-loss harvesting, and ensuring your retirement savings strategy is aligned with your current and projected tax situation.
Through Beacon Financial Group, clients have access to comprehensive insurance planning including life insurance, disability insurance, long-term care insurance, and health insurance guidance. Advisors conduct a gap-coverage analysis on existing policies to ensure clients are appropriately protected with the most cost-effective coverage for their situation.