Case Study: Professional
This professional lacks a clear understanding of her financial health. Due to the difficulty in managing more than 20 accounts—and the inability to view the aggregate performance—she is unable to make sound decisions regarding a range of long-term financial planning challenges, including:
- Lifetime income planning
- Investing in a second residence for her retirement
Boston Private Solution
Her Boston Private Client Advisor worked with her and her accountant to accurately assess all of her financial goals. Boston Private analyzed her cash flow to help her better understand how close she was to meeting her retirement goals and also to evaluate her life and long-term care insurance options. Her Client Advisor then consulted with the Boston Private Investment Team to create a customized asset allocation strategy that aligned with her goals.
Then, in an effort to simplify her life, Boston Private helped the Professional to consolidate her personal accounts to a more manageable number, and began to provide her with enhanced reporting on a monthly basis, allowing her to view all of her assets together and see the aggregated performance of her assets.
The client is now working with Boston Private to help plan the next steps in her financial future, including revising her estate plan, developing a proactive approach to philanthropy, and engaging a life and long-term disability advisor.