TorchLight
Services
Clients who are within three to five years of retirement often have a variety of questions as well as concerns related to their financial situation. TorchLight caters to those clients seeking help in preparing for retirement, transitioning through retirement as well as enjoying retirement.
Typical Clients
Seek a trusted financial coach and guide to help them make decisions about their financial lives.
Appreciate a professional to help them through transitions and milestones
Desire to have a comprehensive plan which reviews all financial and personal goals
Have saved at least $500,000 towards their retirement
Are willing to pay a minimum annual fee per year for ongoing advice and consultation
Communicate well and enjoy working collaboratively with their planner/advisor
Enjoy a personalized relationship and are seeking long-term help
of TorchLight...
Each potential client will receive a complimentary consultation to review your individual situation. TorchLight provides a proposal for services and fees. The meeting is an opportunity to determine if there is a mutual fit to work together.
As a client of TorchLight, we will welcome you into our Wealth Management program. This is a long-term engagement where you will receive ongoing financial planning services. You will also be provided discretionary investment advisory services through our preferred custodian. If you have existing retirement plan accounts that are not able to be moved, we can still monitor and advise on them for you.
A client’s fee is based on the complexity of their situation and the total assets advised upon. Fees are charges quarterly, in arrears. The minimum annual fee is $5,000 per year and higher annual fees may apply according to the situation.
Optimize retirement plans and employee benefits, etc.
Analyze spending plan
Determine income distribution sources
Decide optimal Social Security start date
Review pension claiming options (if appliable)
Determine optimal emergency fund balance
Navigate auto replacement decision (lease, finance, buy)
Address family care issues
Explore purposeful life outside of work
Organize and consolidate investment accounts
Discuss risk tolerance and volatility expectations
Determine asset allocation of portfolio
Review investment options for employer plan(s)
Special care will be given to annuities and inherited accounts
We will work together on:
Review annual income taxes
Prepare tax projections
Create ‘what if” scenarios for various tax outcomes
Determine optimal withholding and tax-reducing strategies
Discuss Roth conversions
Review all life insurance policies
Help with Medicare enrollment
Assist in selecting supplemental Medicare coverage
Analyze long-term care insurance policies or quotes
Estate Planning
Insurance
Investments
Cash Flow
Tax Planning
Review beneficiary designations
Facilitate and assist in the creation of estate plan (trust, will, financial & medical power of attorneys)
Identify legacy goals for heirs
Examine opportunities for Qualified Charitable Donations and gifting