At Noyes Capital Management, LLC, we believe that a sound financial plan is fundamental to achieving your life's goals and enhancing your quality of life. We also believe ongoing and proactive implementation - delivered through advice that is personal, comprehensive, objective, competent and ethical - to be indispensable to caring for all aspects of your wealth.
Before learning about your assets, we learn to know you: the significant influences and lessons in your life, your money role models, your personal values and philosophy, your hopes and dreams, your story. In addition, we work to discover how you define success as well as what brings you meaning and fulfillment. We then conduct a thorough fact-finding of your financial situation. Once these steps are completed, we ready to bring our professional experience in designing a financial plan that can achieve your goals in ways that also reflect your values, vision and specific financial circumstances.
A few weeks later when we present your financial plan to you, it will include our written analysis combined with recommended planning strategies and techniques that are designed to help you achieve your financial goals and objectives. Our recommendations are based on the facts and representations that you make during this process.
A Comprehensive Financial Plan reviews the following seven topics:
- Cash flow projections and their impact on net worth
- Education funding projections and strategies
- Retirement needs, funding and strategies
- Asset Protection and Insurance
- Investment Allocation and Portfolio Design
- Strategic Income Tax Planning
- Wealth Transfer and Estate Planning
Implementation
As part of the financial planning process, Noyes Capital works with its clients to develop specific action list addressing each of the above-listed issues. During this first part of the process, the client will typically converse with an advisor several times depending on the complexity of the client's planning requirements, within the first three-months of the engagement. During this time, we conceptualize a plan to address the client's primary needs and concerns. Once the recommendations are made, Noyes Capital will work with you, and other advisors as may be necessary, to implement our recommendations as promptly and cost-effectively as possible. Depending on the facts and circumstances at hand, we may:
- Send financial information to attorneys to allow for the preparation of the necessary estate documents such as wills, trusts, powers of attorney, health care proxy, and living wills;
- Send tax information to accountants in order to ensure that all compensation, income (and loss) information is properly captured;
- Request information on the status of life insurance and annuity policies in order to confirm and evaluate death benefits, cash values, surrender charges, beneficiaries, tax basis, investment return, etc.);
- Request the tax basis of securities on behalf of clients to ensure proper tax planning, preparation and payment; and
- Request insurance quotes on behalf of clients
Cash Flow Projections and Their Impact on Net Worth
The first question we are typically asked is "Will I have enough to retire?" To answer this question, we must make complex income accumulation and retirement spending calculations. From these calculations we can derive a spending plan for your retirement. Along the way we work through many assumptions based upon your goals and choices to come up with a list of recommendations and goals
Education Funding Projections and Strategies
With the escalating cost of a college education, it is becoming increasingly difficult to implement a credible savings plan to cover the cost. We believe that deciding how much money to save for your child's college education is generally a three-step process. First, we will assist you in estimating the cost of college at the time your child is of college-age. Second, we will work with you to determine an appropriate savings program (with annual savings contributions) and determine whether or not your child will qualify for financial aid (at the time your child is of college-age). Third, once we determine how much money you can comfortably allocate to your savings program, we will work with you to determine the specific investment vehicles to meet your goals.
Retirement Needs, Funding and Strategies
Generally speaking, most people have no visibility into their financial position at the time of their retirement, or the assets they need to accumulate in order to retire (and at what point in time retirement is a viable option), or how to spend down or save their assets in the most tax-efficient manner and/or how to distribute their assets to their heirs upon their death. We assist each client in developing a plan that identifies and addresses their requirements at all stages of their lives by, among other things:
- Counseling each client with regard to how to invest and accumulate monies for retirement during their employment years
- Performing extensive retirement calculations both before and during retirement to determine if the clients' assets will be sufficient for future needs
- Advising each client as to the spending priority for each investment asset
- Guiding each client through the complex regulatory environment as how to distribute these assets from IRA's and other retirement plans in the most tax-efficient manner
- Facilitating the planning and transfer of the assets to the client's heirs
Asset Protection and Insurance
Within the Financial Planning process, a review of your insurance coverage helps determine any major gaps in coverage. Noyes Capital does not sell insurance but works proactively with either your insurance professional or one from our network of professionals. We review your Life Insurance, Disability Coverage, Liability Coverage, Long-term Care Insurance and Property Insurance.
Investment Allocation and Portfolio Design
We start by clearly defining the goals for each client and their portfolios in order to address each client's particular wealth management goals. Asset Allocation Guidelines are prepared and mutually agreed-upon. These guidelines contain target allocations and acceptable ranges that we implement at our discretion on behalf of our clients. These parameters allow us the discretion and flexibility to address particular market developments (i.e. overweighting in Bonds during a bear market and overweighting in equities during a bull market, in each case within the Asset Allocation Guidelines).
Income Tax Planning and Management
Noyes Capital analyzes your long term tax position and makes recommendations on strategies to minimize your tax burden. We work proactively with either your accountant or one from our network of professionals to implant the recommendations
Wealth Transfer and Estate Planning
Noyes Capital works closely with our clients and their designated attorney (or an attorney we recommend from our network of professionals) in the conceptualization, creation and/or revision of a client's estate documents, including wills, trusts, powers of attorney, health care proxies, and living wills. In addition to estate review and planning, we assist clients by verifying that their beneficiary designations on retirement plans and life insurance policies conform to the language of their estate documents and applicable tax laws.
Noyes Capital assists its clients in making informed decisions regarding gifting. Gifting is a well-established method of reducing an estate and minimizing tax exposure. Careful planning is necessary to comply with applicable rules and limitations. Failure to plan properly and the corresponding failure to comply with applicable rules may result in the assessment of significant gift taxes, as well as penalties and interest.
