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Our Services
Scott Financial Group is an Ohio based financial advisor who blends expert level experience with a warm smile and a personal touch.
Our retirement asset allocation plan has proven to be opportunistic in favorable market conditions and defensive when the market is unstable. As a fiduciary and an independent financial advisor not beholden to any one brand, we offer many strategies from a large universe of financial companies.
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Wealth Management
Wealth management is an all-encompassing term to describe the process of providing financial planning as well as investment advice ensuring that your preferences are followed, and all of your assets are taken into consideration. The primary goal is to preserve and grow wealth, provide financial security, and achieve the client’s financial aspirations.
personalized financial planning
Understanding the client’s short-term and long-term financial objectives, such as retirement planning, education funding, major purchases, and legacy planning.
Customized Investment Strategy
Designing an investment portfolio that aligns with the client’s goals and risk profile, diversifying across asset classes and geographic regions to optimize returns while managing risk.
Regular Monitoring & Adjustments
Monitoring the performance of investments and financial plans regularly, adjusting strategies as needed based on changes in market conditions, personal circumstances, or financial goals.
Retirement Income Planning
Where will your retirement money come from? If you’re like most people, qualified-retirement plans, Social Security and personal savings and investments are expected to play a role. And now because we will likely live much longer, healthier lives, we can expect to spend more time in retirement than our parents and grandparents did.
Retirement Planning is financial planning for the spending years versus the accumulation years. The emphasis you should place on retirement planning does change throughout different life stages, so it’s important to work with a trusted financial professional that will help you map out your long-term goals and adjust your retirement plan if any major life events occur. When you plan your finances and lifestyle choices, it becomes much more likely to achieve that dream of a secure and happy retirement. We can offer strategies to help you build wealth, minimize market losses, protect your principal, and generate retirement income you can’t outlive. Once you have estimated the amount of money you may need for retirement, a reliable approach involves taking a close look at your potential retirement-income sources.
Tax Minimization Strategies
Reducing taxes is a common goal for many individuals. Through our tax planning services, we utilize targeted financial products to minimize your tax obligations. Effective tax minimization requires thorough knowledge of tax regulations and careful planning, often with the assistance of financial advisors or tax professionals.
taking advantage of tax deductions
utilizing tax-deferred accounts
optimizing the timing of income and expenses
engaging in strategic investment practices
Asset Protection
In your retirement strategy, safeguarding your existing assets is a top priority. Together, we’ll develop a detailed plan to protect the progress you’ve made.
Additionally, we offer essential guidance on shielding yourself and your savings from potential obstacles, ensuring your financial security endures over time. For individuals, this might involve structuring personal wealth in ways that legally protect assets from creditors. Effective asset protection requires a comprehensive understanding of applicable laws and careful planning, often with the guidance of legal and financial professionals to ensure compliance and effectiveness.
Maximizing your Financial Legacy through Comprehensive Estate Planning
Think of an estate plan as a roadmap for your loved ones. It involves accumulation, management, and transfer of assets, as well as wealth conservation. This ensures your belongings and savings go exactly where you want them after you’re gone. It’s not only about writing a will, but also about making detailed plans with professionals such as attorneys and estate planning consultants.
Your last will & testament
Your last will and testament constitute just one element of a comprehensive estate plan. In the absence of a will, a person is considered to have died “intestate,” and state laws dictate the distribution of the person’s assets.
Trusts
Revocable Living Trusts, Irrevocable Trusts, Testamentary Trusts, Special Needs Trusts, Etc. Trusts come in various forms, serving diverse legal, personal, investment, and tax planning purposes, with simplicity or complexity depending on the situation.
Powers of Attorney
A power of attorney is a legal instrument that grants another person specific legal rights or powers on your behalf. The scope of these powers is determined by the terms outlined in the document, and it can range from broad to highly specific.
Establishing a well-structured plan not only facilitates the efficient transfer of your estate but also helps minimize the potential for family disputes and legal complications.
Risk Management
In your retirement plan, risk can be both a good and bad thing, we will help navigate how much risk you should take on.
Some risk is almost always a good thing, and oftentimes risks need to be taken early on. As you age, the need for risk changes, therefore it’s best to consult with a professional to learn how much risk is right for you at your age and given your unique situation.
Life Insurance
We offer cutting-edge and versatile products that not only provide a death benefit, but can also accumulate cash value.
Examples include whole life insurance, universal life insurance, and variable life insurance. Each type has its own unique characteristics and traits, but the goal for each is to provide your loved ones with a sense of financial security should you die prematurely and also accumulate as much cash value as possible for you to tap into on an income-tax-free basis. More and more people are buying cash value life insurance because of the tax efficiency it offers.
Learn about your Retirement Plan Rollover options.
As you approach retirement, we can evaluate your existing retirement accounts – pension, IRAs, SEPs, 401k plans, annuities – and make recommendations for generating income from these accounts. We can also provide an overview of the options you have available for taking distributions from these accounts.
Direct Rollover
Funds are transferred directly from one retirement account to another, such as from a 401(k) to an IRA. This method avoids immediate taxes and potential penalties, as the funds never pass through the individual’s hands.
Indirect Rollover
The account holder receives a distribution from the retirement account and has 60 days to deposit the funds into another retirement account. If the rollover is not completed within this period, the distribution is subject to taxes and possible penalties.
Rollover to a Roth IRA
Funds from a traditional IRA or 401(k) are rolled over into a Roth IRA. This rollover is subject to income tax on the amount converted, but future qualified withdrawals from the Roth IRA are tax-free.
Are you ready to take the next step towards your financial future?
We offer a complimentary, no cost review of your financial situation.
For more information about any of the products and services we offer, schedule a meeting today or register to attend a seminar.
