Results vary from client to client as each circumstance is unique to the individual. Below are only examples of ways we’ve been able to serve our clients. Do not expect similar results. Each client plan and meeting is tailored to individual family and financial circumstances.
Business Owner Selling Company
At Burt Wealth Advisors in Rockville, we advise many local business owners concerning their personal finances. While our focus is on managing personal wealth, our strong local network in the Baltimore-Washington area serves business owners well. If your business is being courted for a possible acquisition, contact us right away.
The right time to engage Burt Wealth Advisors is prior to the sale of your business. We can examine the impact a sale of your company will have on your personal wealth is as soon as you are approached to sell. We will help you understand how the valuation of the business can support your lifestyle and retirement goals. Ideally, by the time the transaction to acquire your company is completed, we will have worked closely with your attorneys and tax advisors to ensure your wealth can pass to the next generation and leave a lasting legacy.
Our firm believes in values-based financial and estate planning. We will help ensure your estate plan and investment strategy are aligned, and that you can leave a legacy to benefit your family and infuse your values in your family and the community for generations to come.
Wayne & Susan Wanted To Leave A Legacy
Wayne and his wife Susan are small business owners interested in seeing how a more comprehensive review of their situation could be beneficial. They own significant interests in a construction and real estate management firm located in Silver Spring, MD that had accumulated losses due to the global financial crisis in 2008.
Both are worried and concerned that their losses would have a significant impact on their financial goals, primarily fulfilling their lifelong travel dreams in retirement and leaving a legacy to their children. Having spent many years devoted to building their businesses, it was paramount that they be able to leave significant assets to their children.
Burt Wealth Advisors was able to comfort Wayne and Susan by meticulously reviewing their current situation in regards to investment, tax and estate planning, while integrating their business and personal assets to develop a plan moving forward.
Through a comprehensive approach to financial planning, we were able to identify a limited need for their tax deferred investments in retirement. Integrating their accumulated business losses, we recommended repositioning these accounts to grow tax free and be exempt from future required distributions. As Wayne and Susan had hoped, their retirement was funded and these assets would continue to grow and fulfill the legacy they had desired.
Kevin's Concentrated Stock Position
Kevin has worked at the same publically traded, D.C. based firm for nearly 40 years. Over the years, his dedication and hard work paid off as he rose through the corporate ranks. By his early-60’s he is a successful corporate executive, whose loyalty and passion has been rewarded with significant stock and options compensation. Approaching retirement, Kevin is concerned that a significant portion of his wealth is linked to his employer.
Having experience with corporate executives’ compensation plans, we fully understood Kevin’s concerns, and sought to address them in a prudent and efficient manner. We were able to intelligently discuss some of the behavioral and emotional bias’ associated with concentrated employer stock positions, as well as the related regulatory and compliance issues of being considered a corporate insider.
In collaboration with his CPA® and estate planning attorney, Burt Wealth Advisors was able to craft multiple strategies aimed at minimizing his tax liability, strategically reducing his risk exposure, and more prudently diversifying his investment assets.
Through a prudent and holistic approach to financial planning, we have continued to work with Kevin over the years and have watched his diversified investment portfolio steadily increase his net worth.
Alan Previously Used Multiple Brokers
Alan, a 45-year-old IT executive, works and lives in McLean, VA with his wife and children. He would like to leave a significant legacy to his children, but the more immediate concerns include how to fund college costs for his two early-teenaged children.
Alan has multiple investment accounts, which is making it difficult for him to understand exactly what he has, how it is allocated, and what fees he is incurring. He also knows that he does not have a comprehensive investment strategy in place, since different pieces of his total portfolio are being managed by different people.
Alan told us he felt his investments were floundering a bit due to being dispersed across multiple accounts and brokers. Alan also said he was uncertain exactly how well he was doing and more importantly, whether his portfolio was generating the returns necessary to fund his goals.
We told Alan that his situation was not uncommon; as people do well over time, they tend to accumulate accounts and assets in different locations. At Burt Wealth Advisors, we are experienced in helping people like Alan consolidate their accounts and assets and help them move forward with a comprehensive strategy and plan.
Alan’s plan showed him how he could meet his college funding goals for his children and how remaining disciplined with his finances could put him on a path to the lifestyle he envisions. He was happy with the way Burt Wealth Advisors was able to help him put his mind at ease.
Alex & Leanne Ponder Retirement
Alex and Leanne live in Bethesda, MD and are approaching retirement. As successful lawyers, they accumulated a comfortable nest egg for retirement. But like many legal professionals, they sought answers to difficult questions. Do we have enough? How much can we afford to spend? When should we take Social Security? Can we survive another financial crisis? They had worked for many years, tirelessly saving for retirement, but were unsure if it was now a reality.
While they were both well versed in the intricacies of their own profession, and saving has always come easy, they were unsure if they were adequately prepared for retirement. These were difficult questions to answer, and they sought guidance and advice from an experienced, independent, fiduciary in Burt Wealth Advisors.
Through the financial planning process we were able to provide a unique analysis of their financial lives, and how unforeseen circumstances could impact their retirement. When they were satisfied that all of their questions had been answered, and their concerns addressed, they took one more step towards enjoying a long and healthy retirement. In the end, Alex and Leanne knew they had made the right decision with Burt Wealth Advisors.
Jennifer Just Lost Her Husband
After 40 years of marriage, Jennifer, who lives just north of Washington, DC in Bethesda, MD lost her husband, and now she must supervise the finances her husband previously managed. While grieving over her loss, she must track down details of her late husband’s accounts and make decisions she never before faced. And she is concerned about how she will meet her expenses.
One of Jennifer’s friends recommended Burt Wealth Advisors in Rockville as an independent firm that was the right size to care about her as a person and experienced enough to help her through this difficult transition.
Jennifer told us she was uncertain about what to do next. Her husband had always taken care of the family finances; he enjoyed it and she disliked it, so that arrangement was just fine with her at the time. But now that he is gone, Jennifer confided that she felt truly alone.
Jennifer’s team at Burt Wealth Advisors was able to share that they had helped many women in her situation, and they promised to take Jennifer through the same, tried-and-true, logical process that they use for those newly widowed - including members of their own family. Jennifer started to feel better as her Burt Wealth Advisors team took ample time to answer her questions and began formulating options for her and she was able to see a plan coming together that indicated she would have more than enough money to meet her expenses.
Brent Wants Long Term Stability
Brent owned and operated a successful medical practice in Montgomery County for many years. Through the success of his medical practice, he was able to accumulate a substantial investment portfolio that he had managed on his own. He enjoyed the intricacies of the financial markets and was very careful to diversify his portfolio, minimize costs, and allocate his assets conservatively according to his risk tolerance.
Upon his retirement, Brent and his wife Diana enjoyed an active retirement. The two enjoyed many rounds of golf, and frequently vacationed at their beach house with their four grandchildren. After several years in retirement, Brent’s health began to deteriorate. Since he had always made the financial and investment decisions, he was concerned that Diana would be taken care of after he was gone. He wanted an advisor that Diana was comfortable with, that would provide her with ongoing stability, continuity, and prudent advice. While he knew it would be difficult to no longer manage his investment portfolio, he felt in his heart that this was the best option for Diana’s long term security. He discussed his concerns with several friends and colleagues, one of which recommended Burt Wealth Advisors.
During our initial meeting, we reassured Brent that this is a common concern for many of our clients. It is very common for one spouse to manage the finances, and very important to have a seamless and integrated plan moving foward. We could sense his genuine concern that Diana would be taken care of in his absence, and were able to detail our process step by step.
Diana was comforted by the thoroughness of Burt Wealth Advisors and felt we would be a great fit, while Brent was relieved that Diana would be in good hands, backed by a team of competent and experienced professionals. He was grateful that her long term security was no longer a concern.
Charlotte’s Social Security Dilemma
Charlotte faced a difficult decision following the death of her husband Harold. Harold has always been the breadwinner, and Charlotte had a desire to help her youngest son, Keith, graduate from college. Not wanting to spend down her investment portfolio, Charlotte needed help making a decision on how to take social security benefits. She admitted to being overwhelmed, and was concerned she would make the wrong decision.
Understanding the difficulty of the decision for a still grieving widow, Burt Wealth Advisors helped guide Charlotte through the process. With a unique understanding of the Social Security system, we were able to craft a strategy for Charlotte where she could receive her benefits, prior to stepping up to Harold’s benefits several years later.
Charlotte was very appreciative of the peace of mind we had provided, confident she made the right decision. Not only was Burt Wealth Advisor’s able to guide her through the process, but we identified a strategy that allowed her to increase her total benefits and fulfill her desire to help fund Keith’s education.
Dean Wanted Independence
Dean is the younger brother of one of Burt Wealth Advisor’s clients. After a successful career in the Navy, Dean works as a consultant for a defense contractor in Falls Church, VA. Although he has been a diligent saver over the years, he recently received a large inheritance. For several years, Dean has worked with a stock broker from a large brokerage firm, but was unhappy with the relationship. He was interested in exploring other options.
In discussions with his older brother, Dean voiced a variety of concerns. His investments consisted of propriety products of the firm managing his accounts, and he was unsure how they were performing. He also felt this was a conflict of interest and did not understand how his broker was compensated and could not calculate the cost of his relationship. He rarely communicated with his broker, and overall felt more like a customer, rather than a valued client.
Dean’s brother recommended that he meet with Burt Wealth Advisors, to see if maybe we would be a better fit. Burt Wealth Advisors understood Dean’s concerns, because over the year’s many clients had voiced these same concerns. We have had many clients question the service and independence they have received at larger institutions.
We were able to simplify the key differences between his current stock broker and an independent Registered Investment Advisor. As a locally owned and operated firm, we have no proprietary products or sales quotas, but are free to deliver hiqh quality, institutional advice. Moreover, we are held to a fiduciary standard, meaning we are compelled to act in the best interest of our clients. Often times, stock brokers are held to merely a suitability standard, but what might be considered suitable is not always in the client’s best interest. We were also able to detail a variety of performance reports and illustrate both our cost and the value of a relationship with our firm
After our meeting, it was clear to Dean that Burt Wealth Advisors offered the kind of service and independence that he sought. Dean looked forward to becoming a valued client of Burt Wealth Advisors for many years to come.