Kanawha uses our experience and depth of resources to help clients manage their overall financial picture. Whether it’s through our in-house resources or working with clients’ other professional advisors, we strive to help families address a wide variety of financial planning needs. Think of us as your financial CFO, calling in experts as necessary, but always reviewing specific strategies from the standpoint of a trusted advisor who understands your total financial situation.
Good planning is essential to a successful retirement. We have the tools and experience necessary to help you plan and invest for the financial needs of retirement. We evaluate your current financial circumstances and expected future savings in order to project the amount of after-tax income, adjusted for inflation, that will be available to support you and your family in retirement. Specific strategies are designed to ensure that the expected level of retirement income will be sufficient to support your expected retirement lifestyle needs.
Maximizing the wealth that will be passed on to heirs or philanthropic bequests by minimizing inheritance taxes requires a detailed knowledge of not only tax law, but a client’s full financial picture as well. Working with local counsel to create the necessary legal documents such as wills and trusts, we will also help a client evaluate and choose from among the many possible choices for trustee, whether it be a professional trustee such as a bank, or a family member, friend or other advisor.
Tax Planning and Coordination
We work closely with you and your tax advisor to plan for and minimize potential tax obligations. Tax loss harvesting, the timing of realized capital gains, and the coordination across multiple related accounts aim to enhance tax efficiency and cash flow.
Family Wealth Issues
Due to varying ages and other circumstances, children and grandchildren often have different needs, personalities, and levels of financial sophistication. We can provide our many years of perspective to clients when intra-family wealth issues arise. We are always available to help educate the next generation with respect to all aspects of financial planning and investments.
Unexpected Lifestyle Changes
The death of a spouse, the diagnosis of serious illness, or the reality of divorce requires a much broader array of consultative services to successfully navigate an unanticipated transition in lifestyle. Our financial goal modeling process is dynamic and able to incorporate and test the sustainability of varying income and expense combinations.
Charitable Giving Strategies
Kanawha is experienced in helping our clients achieve their objectives with respect to philanthropy. Whether through the establishment of a private foundation, a charitable remainder trust or some other legal entity to facilitate a gifting program, we can work with your attorney or accountant to accomplish your objectives within the framework of your overall wealth management strategy.
As part of a comprehensive wealth management plan, we can arrange an analysis of your current insurance program for adequacy and cost effectiveness. Within the context of your total financial picture and estate plan, we can review coverage limits, liability limits and identify the need for specialized coverage. Whatever changes or additions are necessary are implemented by working through either your established relationships, or a third-party broker specializing in the needs of wealthy families and individuals. Since Kanawha is not an insurance broker, we can evaluate insurance solutions in a more objective manner.
Closely Held Business Issues
Owners of closely held businesses often face a myriad of unique wealth planning challenges. The complicating factors of family dynamics, management and ownership succession, liquidity needs, and concentrated business risk demand an advisor that will recognize potential needs in these areas. Working closely with your existing legal and tax advisors, Kanawha coordinates the development of strategies designed to address the unique needs of this group.