In September 2018, Five Star Professional completed an interview process to determine 2019 Five Star Wealth Managers. Weatherly’s senior team, including Carolyn Taylor, Candise Holmlund, Brent Armstrong, Ashley Copp, and Kelli Ruby all received this inclusion to participate. Upon completion, all five advisors were named 2019 Five Star Wealth Managers.
The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria. Eligibility criteria – required: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Actively employed as a registered investment adviser or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints led against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; feedback may not be representative of any one client’s experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria – considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations
The Five Star Wealth Manager award program recognizes and promotes wealth managers. Five Star Wealth Manager candidates were identified by one of three sources; firm nomination, peer nomination or pre-qualification based on industry standing. Five Star Professional notified advisors of their candidacy for the award via an email solicitation. Weatherly provided data in the form of an online survey submission and each advisor participated in a phone interview to confirm personal information. Neither Weatherly nor its employees were required to be a member of an organization to be eligible to receive the award. No payment was required of Weatherly to be considered for the award or to be named a Five Star Wealth Manager. Once awarded, wealth managers may opt to purchase additional profile ad space or related award promotional products.
Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. The award does not evaluate quality of services provided to clients. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The Five Star award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their client’s assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. Five Star Professional is not an advisory firm, and the contents of the advertisement should not be construed as financial advice. For more information on the Five Star award and the research/selection methodology, go to www.fivestarprofessional.com. Five Star considered 1,885 San Diego wealth managers for the award; 224 (12 percent of candidates) were named 2019 Five Star Wealth Managers.
Five Star Professional conducts a regulatory review of each nominated wealth manager using the Investment Advisor Public Disclosure (IAPD) website. Five Star Professional also uses multiple supporting processes to help ensure that a favorable regulatory and complaint history exists. Data submitted through these processes was applied per the above criteria: 1) each wealth manager who passes the Five Star Professional regulatory review must attest that they meet the definition of a favorable regulatory history, based on the criteria listed above; 2) Five Star Professional promotes via local advertising the opportunity for consumers to confidentially submit complaints regarding a wealth manager; and 3) Five Star Professional contacted approximately 1 in 12 households identified as having a high propensity to use the services of wealth managers in order to provide consumers the opportunity to submit complaints regarding a wealth manager.
Receipt of this award is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the award or the appropriateness of advertising the award.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
Over the course of working with clients for many years, we often get the question, “What are the most important financial elements you think we should know?” Although no two client situations are the same, clients often need a fundamental starting point to build their financial future upon. In the interest of starting the year off right, we want to highlight what we call “The Four Financial Basics” and important action items you can’t afford NOT to know for a healthy financial future.
“The Four Financial Basics” and considerations as you establish your financial base:
- Most importantly, know where your money is and roughly what you have.
Ask yourself the following questions:
- What are your sources of income and savings? What amount do you have of each?
- Income sources may include: pensions, social security, investment income, rental income, business income, salaries and wages, IRA distributions
- Where are your investment and retirement accounts held? How much do you have of each?
- Do you give to charity? Do you have a Donor Advised Fund (DAF) or another source you use?
- After considering these questions, Weatherly is able to provide guidance and strategies specific to your financial situation and to help maximize your after-tax income, savings, and investment.
- Know where your money goes and what you spend monthly.
- According to a recent Gallop study, approximately 67% of Americans do not keep a formal budget for their household spending (1). We recommend that clients track what they spend in various categories to avoid overspending. First add up the necessities, include housing costs, debt, other items such as car, insurance, utilities, savings. Then compare that to your income number to see what you have remaining. We have included a worksheet to help you track here.
- By gathering this information, we can better develop your financial plan and evaluate the amount of income you have left for discretionary spending on items such as: travel, entertainment, and hobbies to name a few- as well as better estimate what you will need throughout your life.
- Know Your Assets. How are they titled, where are they held?
- The title and type of asset determines how it is treated. A common example is your home- if you have a living trust, but your home is not in trust title, then your home will not be treated as being held in trust. This oversight may lead to a probate issue at death. Have you refinanced recently? Check your title is correct.
- Consider: Where is the title document for the asset? What does it say? Who has a copy of it? Have you developed a list so an executor would know where everything is?
- This exercise is akin to a good financial health checkup. Weatherly encourages clients to “Know Your Assets” to avoid unnecessary pitfalls, such as the probate example outlined above.
- Know where important documents are and who has a copy.
- Important documents typically include your durable power of attorney, durable power of attorney for health care, trusts, wills, list of assets, insurance policies, benefit information, and tax returns.
- Use a simple checklist to track the documents you have and who has access to them. Review this list: 1) at least annually, 2) when you acquire new assets, or 3) if there are changes in family status due to birth, marriage, death, and divorce to name a few. Weatherly is available to help complete your checklist and collaborate with your team of professionals- CPAs, estate planning attorneys, a trusted family member- to implement or obtain copies of these documents on your behalf.
- Provide the important documents and completed checklist to your executor, trusted professional, or keep a copy in a known place “in case of emergency”.
- Completing our Family Conversation Card with a family member or significant other, can serve as an evaluation and accountability tool that helps track your documents and progress. You can also utilize the card as way to educate and start the family conversation about wealth, family values, philanthropy, and financial goals and wishes.
- For more detailed, complex lists we recommend storing on a secure thumb drive that is password protected, or a cloud-based storage system- such as Dropbox, Keeper, or Amazon Drive-which is accessible from anywhere. Some if these data storage systems also have legacy options for data recovery.
So, how did you do? Do you generally know the Four Financial Basics? Excellent! Does your spouse… your executor or trusted family member?
Similar to the start of a new year, establishing your financial base can present a plethora of emotions, challenges, unknowns, some anxiety, and excitement. The Weatherly crew is here to assist you with the Four Financial Basics and provide guidance as you seek to put your financial house in order and plan for the future.
Resources:
** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.
Carolyn Taylor represented Weatherly in an Advisors Magazine article focused on financial education and individualized portfolio management. “Using Real-World Scenarios to Educate Clients – Tailoring Examples to Personal Situations” was published in the January 2019 issue of Advisors Magazine. Please click here to read the full article.
With more than 35 years of portfolio management experience, Carolyn was asked by Advisors Magazine to provide her perspective on how she and her team use real-life scenarios and practical language to ensure that clients have a clear understanding of their investments and the firm’s overall approach to portfolio management.
The interview process was Q&A style focusing on financial literacy, education, overall financial planning and fiduciary standards. Interview questions were provided to Weatherly in advance. After the interview process, Weatherly had the opportunity to review drafted language proposed by the author and confirm accuracy of quotes prior to approval for publication.
It is not the intent of the article to endorse the participating businesses or to indicate quality. There was no fee to be interviewed for the article, and Weatherly was not required to advertise in (or subscribe to) Advisors Magazine. Weatherly opted to pay for a one-page published article based on the interview which included a high-resolution PDF reprint, one hard copy, unlimited digital magazine downloads, a direct link to the page location in the digital magazine and external audio and video links to books, podcasts, videos, and other professional resources.
No organizational memberships were required of the Firm or individuals. Inclusion in this article is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of inclusion in this article.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
Carolyn Taylor was listed as a finalist for the 2018 San Diego Business Journal Business Woman of the Year award. Each year, the San Diego Business Journal (“Journal”) recognizes dynamic women business leaders who have contributed significantly to San Diego’s workplaces and communities. For the 2018 program, Carolyn was listed among 103 finalists! Click here to view the full article. Nominees and finalists were evaluated based on the following criteria: 1) contributions to her company/organization above and beyond the normal position requirement; 2) management of 3 or more part or full-time employees; 3) been in business for 5+ years; and 4) commitment to community service.
Weatherly supplied the information for the nomination in the form of a survey. To celebrate the 25th anniversary of the event, 25 women were honored as winners. The winners were chosen by an independent judging panel of successful business women. There were over 200 nominations; Carolyn did not receive the award, but was one of 103 finalists for the award.
Weatherly was not required to make payments or purchases to nominate, be nominated, be considered or included on the list related to the award. Weatherly paid the Journal for Carolyn and 4 colleagues to attend the awards ceremony program.
No organizational memberships were required of the Firm or individuals. The advertisement of nomination for the award is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the award, nominations for the award, or the appropriateness of related advertising.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
As our client’s approach retirement, one of the most common questions that’s asked is “How will I replace my income?” While the question is common, the answer is a nuanced one that spurs a further dialogue surrounding many of the more important questions which ultimately dictate its answer:
When will you retire? Will your lifestyle in retirement differ from lifestyle while employed? What sort of longevity, or lack thereof, is in your family? What sources of retirement income are available to you? What type of assets do you have? Will your risk profile change when you are retired and begin distributing, as opposed to accumulating, assets?
By working through these questions, our team at Weatherly can help to provide context around the retirement income equation, implement appropriate strategies and best position our clients for a positive outcome.
Defined Benefits
Pension plans are becoming less and less common, but nearly all retirees have at least one source of defined benefits. Whether you are only eligible for Social Security or have various defined benefit sources, a critical decision point is when and which benefit to claim. The norms of old were to claim defined benefits as soon as eligible or upon retirement to maintain a wage-like stream of income that becomes familiar over decades of employment. However, as the existence of these types of plans have lessened and life expectancies have increased drastically, delaying benefits has become that much more attractive to maximize the dwindling sources of, in theory, guaranteed income.
While factors that are not within your control weigh heavily on what the “correct” strategy is, such as the solvency of the funding source or how long you live, Weatherly can help provide context around these types of decisions through our benefit analysis process. By incorporating the control variables of the defined benefit amounts, with reasoned assumptions such as life expectancies and cost-of-living adjustments, all while accounting for the quantitative and qualitative investment factors such as a client’s asset level and risk profiles, educated decisions can be made to provide the most appropriate defined benefit decision for your specific situation, needs and goals. These benefit decisions that our team helps to solve include, but are not limited to:
• Monthly pension vs. lump sum payout
• Single-life vs. Life Certain vs. Survivor benefit options
• Break-even analysis of cumulative benefits
• Break-even annual rate of return for benefit options
• Social Security break-even analysis
Investment Assets
As it becomes clear when and how much retirement income will be generated from defined sources, the decision turns to how to fund the gap between the need. This may seem like a straightforward decision, especially if you only have one type of account, but the sustainability of those existing assets can be greatly influenced by the cohesiveness of the withdrawal strategy.
Tax Flexibility
For most retirees, the majority of their investment assets are held in tax-deferred accounts like Traditional IRAs or employer sponsored plans such as a 401(k). While these accounts are certainly attractive during the accumulation stage, there is a lack of flexibility during the distribution stage when withdrawals are fully taxable and become required once you turn 70½. To help combat this lack of tax flexibility and when excess income exists, it can be quite impactful to supplement your retirement contributions with contributions to non-qualified, taxable accounts as well.
Conversely, if you have a low-income year either prior to or in retirement, completing a Roth Conversion can create additional tax and withdrawal flexibility down the road by establishing a bucket of tax-free money that you are not required to withdraw at any point in your lifetime.
Asset Location
Much like how the asset allocation between stocks, bonds and cash is dictated by the time horizon and extent of the need from the account, the asset location within accounts is dictated by these same factors. Once tax flexibility is increased with multiple types of accounts, the placement of where certain types of assets are held can be an important next step in creating further sustainability and efficiency of assets.
Stocks and Bonds that produce higher income are better suited in tax-deferred accounts whereas securities like Municipal Bonds or qualified dividend-paying stocks are better suited in non-qualified accounts like joint and trust accounts, where tax rates are more favorable.
Balancing the asset allocation and location of various investment accounts helps to increase the sustainability of those assets and the income they seek to provide.
Behavioral Assets
Perhaps one of the most impactful yet underappreciated aspects of the retirement income equation are the behaviors involved in accumulating, distributing and maintaining the assets that produce the output of the equation. These behaviors can range from the risk tolerance of investor, to their discipline in deferring gratification of their earnings, to the mental accounting of their retirement income streams.
Each behavior that makes a person unique does the same to their respective retirement income strategy. Regardless of how well thought out or reasoned a retirement income strategy is, the ability to adjust to the unpredictable nature of the markets, the uncertainty of life or even potential changes in the tax laws can have just as much of an impact on the long-term success of that strategy as the underlying levers of the equation.
What is Your Retirement Income Equation?
For some, a successful retirement means covering all basic living expenses without running out of money. For others, it can be checking off the retirement bucket list, traveling the world or leaving behind a financial legacy for loved ones or philanthropic causes. And some simply want to squeeze all they can out of the prime retirement years until their money’s gone and then make due from there.
By defining what the destination in retirement is, the best vehicle(s) to arrive there become more apparent. Our crew at Weatherly is here to help with your retirement income decisions and to guide you the most appropriate strategies to best solve your retirement income equation.
More Resources:
A Golden Opportunity
Strategies for uncovering hidden value in retirement income planning
Potential 2019 Tax Changes Your Wealthy Client Need to Know About
** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.
Candise Holmlund was included in the third edition of the San Diego 500, an annual* book listing 500 influential business leaders published by the San Diego Business Journal. Candise’s profile includes her established career in the wealth management industry, her educational background, and well-rounded engagement with the San Diego Community. The book was published on November 26th, 2018. Read Candise’s full bio here.
The 2019 San Diego 500 is comprised of 10 main categories: 1) Civic, 2) Education, 3) Health and Science, 4) Leading Industries, 5) Lifestyle, 6) Money, 7) Professional Services, 8) Real Estate, 9) Technology, and 10) Icons. Members of the SD500 are selected by SDBJ’s newsroom on editorial merit alone, thus representing the most influential and accomplished business leaders in the market. The SD 500 is based on these parameters: People who have founded or are running significant business in terms of number of jobs, key products and services; experts who raise the level of the industry here and beyond; and business people who lead in the community. The San Diego Business Journal’s process for inclusion in the list involved asking for feedback from numerous industry experts. Evaluation criteria included merit, business savvy, and civic engagement.
Candise was one of 80 professionals included in the Money subcategory. Weatherly did not apply for consideration or inclusion in the list. Once selected for the list, Candise provided biography-related information for inclusion in the publication.
There was no fee to participate in the list, and Weatherly was not required to advertise in, or subscribe to, the San Diego Business Journal. When or if reprints of the list become available, Weatherly will pay the Journal for electronic reprints.
No organizational memberships were required of the Firm or individuals. Inclusion in this list is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the ranking or the appropriateness of advertising inclusion in this list.
* Candise has been listed in the 2016, 2018, and 2019 editions. There is not a 2017 SD 500 edition.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
Candise Holmlund
858-259-4507
Candise@weatherlyassetmgt.com
One of the most exciting events in human life is the birth of a child or grandchild. While we can’t prepare you for the challenges of parenting, we can help with ways to get a head start on the financial and legal considerations that come with being a parent, grandparent or significant contributor to the family unit. In this month’s blog, we’ll outline some of the important steps that can be taken to promote a healthy financial future for young families.
1) Obtain Birth Certificate and Social Security Number (SSN): These documents are important and are required for some of the activities outlined below. They are typically received within a few weeks of birth and are important for enrolling in health insurance. For world travelers, getting a jump start on a US Passport or Global Entry identification as early as possible helps save stress and time before your next vacation. More information on obtaining a SSN can be found here.
2) Add your child to your health insurance: Most insurance companies will automatically cover your child for the first 30 days, but beyond that, you typically must add them to your plan. If you are a resident of California, you can find additional information here. If you are a resident of another state, take a look here.
3) Set up a will or trust: Wills and Trusts are already great tools to avoid probate and taxes, but they play an increasingly important role as the family grows. If something happens to you and your partner, the Trust will define both financial and legal guardianship for your child, and they don’t need to be the same person. For example, one party could become custodians and daily caretakers for the child, while another party could manage the finances for the child’s benefit. Trusts (such as a sprinkling trust) can also set parameters on what assets the child can access while a minor, or even as an adult as necessary. We have discussed wills and trusts in our previous blog post and the importance of each.
4) Review and change beneficiaries on your financial accounts: This is particularly important for retirement accounts where you typically name people, rather than a trust, as beneficiaries. A typical scenario would be to name your spouse/partner as the primary beneficiary, with your trust as the contingent to care for young children. We recommend checking with your advisor or estate planning attorney to see if you need to make changes to your current beneficiaries.
5) Adjust your W-4 form with your employer: The W-4 form lets you take allowances which adjust the tax withholding from your paycheck. The more allowances you take, the more take home pay you will receive. Often, children open up new tax breaks and you may not need to have as much money withheld from your paycheck as prior years. We suggest using budgeting tools like www.mint.com as a way to understand your current finances and where you might need to make changes.
6) Budget: While you may get some new tax breaks, one thing we can guarantee is that raising a child will cost money. The government recently released a report that estimates it costs $233,610 to raise a child born in 2015 to age 18 without taking into account tuition or inflation. Cost of living varies around the country and some regions may carry higher costs than others. Make sure you plan for these costs and increase your emergency fund to have at least 3-6 months’ worth of liquid living expenses.
7) Start saving for the future: 529 plan college savings accounts are one of the most popular ways to save for your child’s future. Money is gifted to the account where it grows tax-free for the purposes of education. These accounts can also be transferred to other family members. There is the option to ‘supercharge’ your 529 contribution by placing 5 years’ worth of gifts into the account. We often see grandparents looking to reduce the size of their estate utilize a supercharged 529 account for gifting. UTMA accounts are also great ways to save for a child, but keep in mind, these accounts will be considered assets of your child for college financial aid purposes. With the recent tax changes, an additional benefit is that 529 funds can be used for high school tuition. We’ve included some useful tools below to help you decide which savings account is right for you and your family.
Consider a Term Life Insurance Plan: Term life plans for younger parents can be relatively cost-effective ways to ensure that your child or partner have sufficient assets to sustain their quality of life should something happen to you. Many young families use these tools to bridge the gap from their asset accumulation years to when they have built up sufficient net worth later in life.
Considerations for grandparents: Beyond utilizing a supercharged 529 account for gifting, grandparents can utilize annual gifting to each beneficiary. For 2018, gifts of up to $15,000 can be given to each beneficiary without chipping away at lifetime gifting amounts or filing a gift tax return. In addition, gifts above the exclusion amount can also be made for tuition as long as they are made directly to the institution.
How WAM can help: We work with both parents and grandparents of young children who may be considering the planning strategies we outlined above. We welcome a time to have a dialogue about your family’s unique needs and how we can help to plan for a successful financial future.
** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.
Stone joined the Weatherly team in Summer of 2023. His initial responsibilities will include internal reporting, research, benchmark study reporting, tax season related support, and special projects.
Stone graduated from California State University, Sacramento (CSUS) in 2021 with his Bachelor of Arts in Economics. He earned his Master of Science in Finance in 2023 from the University of Oregon (UO) where he was a member of the Master’s Investment Group yyy. While attending UO, Stone was the Co-Chair of Duck the Stigma zzz, an organization dedicated to increasing mental health resources for student-athletes. Stone played four years of baseball at CSUS and one year at UO. He was ranked as one of the top closers in the country in 2021 and 2022 by the National Collegiate Baseball Writers Association xx. Stone also holds a series 65 D license.
In his free time, Stone enjoys movies, mountain biking and riding dirt bikes.
Education:
California State University, Sacramento, B.A. (Economics), California
University of Oregon, M.S. (Finance), Oregon
Certifications:
License(s): Series 65 D
Marty joined the Weatherly team in Fall of 2022 to expand upon the Firm’s best-in-class level of client service. His experience, education, and strengths in communication, analysis, planning, and operations are valuable contributions to our business and clients. His initial responsibilities include internal reporting, facilitating smooth transfer of assets for current and new clients, facilitating deposits for the firm, and research.
Marty’s prior experience at a local RIA provided a foundational skill set transferable to Weatherly’s team approach. Marty earned his Bachelor of Science in Finance (BS) from San Diego State University where he was a member of the Finance and Investment Society www . While attending SDSU, Marty became certified as a Financial Modeling & Valuation Analyst uu through the Corporate Finance Institute. Marty completed Level II of the CFA® ProgramB04 in 2023. He holds a series 65 D license.
Marty was born and raised in San Diego and in his free time, he enjoys taking his dog on hikes, surfing at local beaches, cooking, and spending time with his family.
Education:
San Diego State University, B.S. (Finance), California
CFA® Program, CFA Institute, Completed Level II in 2023 B04
Certifications:
Corporate Finance Institute® Financial Modeling & Valuation Analyst Certification uu
License(s): Series 65D
Active Memberships:
CFA® Program, Candidate Membership 2024 B002
Aubrey joined the Weatherly team in 2019 to expand upon the Firm’s high-quality level of client support and financial planning services. His responsibilities include relationship management, research and analyses related to financial planning, charitable related workflows, and core investment management initiatives.
Aubrey’s prior 5 years of experience in the financial services industry provided opportunities to develop his skill set in financial planning, client service, insurance analysis, and business development.
Aubrey earned his Bachelor of Business Administration with a concentration in Finance and International Business from Gonzaga University in 2014. At Gonzaga, he played for the Men’s soccer team and worked as a lifeguard/swim instructor at the local YMCA. He was involved in the University’s Bulldog Investment Group ee and along with other Gonzaga students, he volunteered as a mentor for junior high school students at an on-campus chapel. In 2020, Aubrey completed his Master of Science Degree in Personal Financial Planninggg through the College for Financial Planning (CFFP). Aubrey currently volunteers his time as a committee member of the NexGen group of the Financial Planning Association (FPA) of San Diego. As President of the NexGen group, Aubrey organizes educational and networking events for young local advisors to connect and help advance their careers in the financial services industry+. Aubrey obtained his Enrolled Agent (EA)bbb designation in 2023.
Outside of Weatherly, Aubrey enjoys golfing, surfing and spending time with family.
Education:
Gonzaga University, B.B.A. Business Administration (Finance & International Business), Washington
College for Financial Planning, Master of Science Degree in Personal Financial Planninggg
Certifications:
License(s): Series 66 D
Insurance: (Life Only, Accident & Health, Variable Contracts)DD
Exams: Series 7D (inactive)
CERTIFIED FINANCIAL PLANNER™ professional (CFP®) A
CRPC® – Chartered Retirement Planning CounselorSMjj
MPAS® – Master Planner of Advanced Studiesii
Enrolled Agent (EA)bbb
Active Memberships:
San Diego chapter of the Financial Planning Association (FPA)+.
Awards & Accomplishments
Five-Star Best Personal Wealth Manager Award – Year(s): 2024