Advice Only Financial Planning

MJT monitors accounts under management to determine if it is appropriate to bring things back into balance. Regular rebalancing to a client's target allocation helps with the "buy low and sell high" principle for investing success, and can ensure that the portfolio stays within the client's tolerance for downside risk.

This is the practice of placing buys, sells and/or exchanges of securities (mutual funds, ETFs, bonds, etc.). MJT has processes in place to ensure the correct trades are placed to avoid costly mistakes that could impact market performance or a client's tax bill.

In an account that is taxable, there can be tax consequences to buying and selling investments. MJT helps clients understand how making transactions in the account impacts their finances comprehensively and gives them a heads up to any substantial tax consequences as a result.

IPS is a guiding document that sets out the parameters for how the client's accounts will be managed by MJT. It serves as a point of reference to stay focused on the client's goals, tolerance for risk, and overall financial situation.

Whether it's periodic contributions, rollovers from another account, or a one- time lump sum contribution, money market balances need to be monitored to prevent lost opportunity for the client.

MJT helps clients determine the best way to divide investments among different asset categories taking individuals' life goals into account.

MJT will develop a tax-minimizing strategy based on the client's goals by allocating different investments into accounts with varying tax treatments.

Gradually investing a portion of the cash contribution to the account over a period of time based on what is appropriate for the client. With the stock market fluctuating day to day, the process of buying in over time could result in a lower buy-in average, and vice versa.

When a client wishes to invest an amount of money periodically (e.g., monthly), MJT sets up a monthly plan to withdraw money from the client's bank account and transfer that to their investment account to be invested.

When a client periodically needs cash from their investment, MJT sets up a distribution plan to transfer money from their investment account to their bank account to provide for their income needs.

As clients near retirement or encounter life events, their risk tolerance may change. MJT regularly requests risk tolerance updates from clients to ensure that the investment mix that was created for the client is still prudent given their new circumstances.

A client's finances, goals and health are constantly changing, requiring periodic retirement plan updates that will inform recommendations.

We will help determine what investment vehicle to use to save for education costs, how much to save, and how to invest those savings.

A client could have a variety of accounts and income streams. We work with clients to determine the best way to turn various assets in their portfolio into an income stream during retirement.

We coordinate with allied professionals to communicate the investment income realized and strategize to distribute income in a tax-efficient manner.

We can help determine what benefits a client is entitled to and when is the best time to claim Social Security.

We look at how death, disability, or long-term care needs could affect a client's goals and how insurance should be used in the financial plan.

Educating and advising young and adult children of the clients regarding financial planning matters.

Assisting in analyzing a real estate investment such as rental property, purchasing a second home, or other real estate investment.

Retirement income optimization is a very important part of the financial planning work we do as it can have a substantial impact on the taxability of a client's income as well as how long one's retirement assets can last.

Periodically converting funds from tax-deferred retirement accounts to Roth accounts can decrease the required minimum distributions and lessen the over tax burden upon distribution of funds.

Developing strategies to give using tax-efficient methods, determining how much and when to give without impacting a client's other goals are ways we facilitate the charitable giving process.

MJT will walk clients through estate planning documents, aligning the titling of their assets and listing of their beneficiaries to be consistent throughout.

Working with a client's CPA and attorney, we help them determine the best business structure based on their income tax situation as well as their retirement savings goals.