Comprehensive Planning

The term “comprehensive planning” means different things to different advisors. To advisors who just want to gather AUM, a comprehensive plan still only deals with the AUM.

At POM Planning, our view of “comprehensive planning” means, well…., a comprehensive plan.

A plan that helps clients with:

1) Asset Protection

Using domestic structures (usually LLCs) to protect brokerage accounts, vacation properties, rental properties, or any other valuable assets from negligence lawsuits. If you are reading this and your clients have brokerage accounts of over $250,000 in their own name, you are doing them a tremendous disservice from an asset protection point of view.

2) Estate Planning

Many clients do not have their wills and durable powers implemented or trusts set up and funded properly. More affluent clients many times lack the more sophisticated planning tools. POM has attorneys it works with who will do this legal work and subscribe to a “fee schedule.”

3) Mitigating Risk in the Stock Market

This is the core function of POM Planning, which is to help clients generate the best risk adjusted returns we can using our various investments/products.

4) Tax Minimization

Most clients are not minimizing current/and or future tax liabilities (income and capital gains). POM Planning helps advisors put together a comprehensive tax mitigation plan for clients (especially business clients). This includes the use of carve-out planning for pensions and 401(h) plans.

5) Corporate Structure as well as Buy/Sell/Business Transition Planning

Many times businesses are not set up with the correct structure (including choice of entity for tax purposes). More yet do not have in place a business transition/buy/sell plan. POM Planning has significant resources to help clients of advisors with these very important issues.

6) Long-Term Care Planning

LTC planning seems to be a forgotten topic due to the cost of primary LTC insurance. Through the use of hybrid products advisors can offer an LTC benefit to clients that they can afford. Considering this is one of, if not, the largest expenses of most seniors in retirement, it’s a topic that shouldn’t be overlooked.

POM Planning is uniquely positioned to help advisors provide “comprehensive plans” to clients with the help of its Advisory Board.

Finally, an additional tool advisors can use is the CALM Platform. This is a platform Roccy DeFrancesco created where he gets involved in the planning process and puts together an 8-12+ page memo for clients dealing with all of the above. CALM is an action plan where the memo that is delivered to the client has bullet points from 1-10+ telling clients what their problems are and specifically how to fix them.

Click here if you would like more information on the CALM Platform (or email roccy@thewpi.org).

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