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AltruVista Offices

3555 Timmons Lane, Suite 915

Houston, TX 77027

Investment advisory services offered through AltruVista LLC, an SEC registered advisor. Securities offered through ValMark Securities, Inc. Member FINRA, SIPC. 130 Springside Drive, Suite 300, Akron, Ohio 44333-2431. 1-800-765-5201. AltruVista LLC is a separate entity from ValMark Securities, Inc.

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  • AltruVista
    • Oct 23, 2015
    • 2 min read

HOW TO ALIGN YOUR WEALTH-PLANNING TEAM

For the high-net-worth, traditional wealth planning often involves “many cooks in the kitchen.” Over the years, as business owners work to build their business, they are likely to accumulate multiple advisors and plans, each with a different strategy. Conventional wisdom might support the idea that having several plans in place is an effective way to prepare for any contingency. However, all too often, these plans and strategies can conflict with each other. While each advisor may have the best interests of the client at heart, disconnect between various plans, combined with ever-evolving client goals, can spoil the broth.


The Dangers of Traditional Wealth-Planning

The types of plans a high-net-worth individual might have in place at any given point in the timeline of their business include:

  • Asset protection plan

  • Estate plan

  • Business plan

  • Insurance plan

  • Retirement plan

  • Investment plan

It typically takes a “catalyst” (i.e. a major life event) to reveal a conflict between two or more plans. Common catalysts include:

  • The sale of your company

  • A substantial increase in earnings

  • A lawsuit

  • A family member or business partner passes away

  • Divorce

  • Retirement

  • Succession of a family-owned business

If your advisors and strategies are not in alignment, the costs and damages to you may be beyond repair by the time a catalyst arrives (often without warning).


Bringing the expertise of various tax, legal and financial advisors into alignment is essential for creating a total wealth plan, and AltruVista’s Wealth With Purpose® process is designed to do exactly that.


Steps to Creating a Total Wealth Plan

Our Wealth With Purpose® process aligns your various advisors, plans and strategies in order to eliminate conflicts and ensure everyone is working to help you realize your goals. This collaborative process turns a team of experts into an expert team.

The process involves five steps:


  • Determine Synergy and Value — We help you crystalize exactly what it is you want to accomplish, both in the short- and long-term, and understand any gaps or opportunities in your current plan, that can impact your goals.

  • Evaluate, Define and Educate — This involves a comprehensive evaluation of your current financial position, defining your business, lifestyle, and legacy goals. It also provides a personalized education on wealth-planning strategies and options.

  • Design, Communicate and Collaborate — At this stage, we craft a Design a Personalized Wealth Blueprint™ based on your integrated tax and legal plans and strategies.

  • Implementation and Coordination — Now that the plan is in place, we coordinate the implementation and execution of that plan.

  • Review and Track — We build an AltruVista Wealth Center™ online dashboard to evaluate the progress of your plan and re-assess its ongoing strategy and effectiveness.

By bringing your advisors and plans into alignment, you will more fully benefit from the technical abilities of each advisors, take comfort in a higher degree of security, and enjoy a greater level of future success.


Alternative to Traditional Wealth Planning

AltruVista provides expert advice to high-net-worth individuals who wish to bring their tax, financial and legal planning into alignment in order to achieve their wealth-planning goals. To learn more about our Wealth With Purpose® philosophy and process, contact us using our online form, or by calling (713) 581-2440.

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