At Physicians Resource Group, comprehensive financial planning is the backbone of our business and strategy. We passionately believe that in order to provide sound financial advice we first need to acquire a complete understanding of a client’s entire financial picture. Through the financial planning process, we will create a customized roadmap for each client so that they feel holistically informed as to their current financial position and have a clear understanding of the path required to meet each financial goal. This is a constantly evolving process and as your financial ambassador we will guide you through life’s changes and provide you with all the tools necessary to make well thought out decisions throughout the way.
The Major Components of the Financial Planning Process Include:
The Major Steps in the financial Planning Process, as defined by the CFP® board, are as follows:
Our investment management philosophy begins with the careful construction of the investor profile whereby we assess an individual’s tolerance for risk, his/her time horizon for investing, and the investment goals an individual maintains. Before we set out on building a portfolio, it is paramount to calculate an individual’s willingness to accept the risks of the market alongside their ability to do so given their current situation. From this profile we design a tactical asset allocation strategy that fits the individual’s situation. Thru the use of a variety of market instruments and leveraging many different asset classes, we develop a diversified portfolio that is tailored to meet an individual’s investment goals and is designed to weather the volatility of the market.
Financial Instruments used in Asset Allocation:
Asset Classes Addressed in Asset Allocation Design:
Planning for retirement is one of the most important financial concerns that an individual will address during their life, yet, it is always one of the most complex and challenging propositions. Within the scope of our retirement analysis we address all of the most difficult questions:
As your advisor, we will help guide you with a well-defined retirement plan that will ensure you and your loved ones have adequate resources for a long and prosperous retirement.
Common Types of Retirement Accounts:
As independent insurance agents we pride ourselves on being product and brand agnostic and as a result, we specialize in finding the right insurance product that fits the individual situation. At PRG, we have the flexibility to explore the vast insurance product marketplace, which allows us to fulfill our fiduciary responsibility to our clients by offering unbiased insurance recommendations.
At PRG, we specialize in the following types of insurance:
Insurance, by definition, is coverage by contract in which one party agrees to provide another party with a guarantee in the face of loss presented by a specified peril. Financially, there are two major perils that threaten the financial livelihood of an individual and his/her family; death and disability, and it is extremely important to protect oneself from these perils. Insurance acts as the ultimate safety net in the event of the unthinkable and is a backbone to a sound financial plan. A lack of proper insurance planning can result in financial ruin. In order to determine the proper amount of insurance coverage, it is important to perform an in depth needs analysis to ensure that the client and his/her family is adequately covered in the event of death/disability. The existence of a suitable insurance plan allows the client to continue their life path, despite an unthinkable event.
Retirement: We develop a detailed retirement analysis that provides our clients with a targeted savings goal for retirement. In this process we leverage tax saving vehicles (SEP, 401(k), 403(b), IRA, etc.), permanent life insurance as well as additional investments to amass wealth that will allow our clients to live comfortably in their life styles for many years after retirement.
Minimizing one’s tax liability is among the most important and commonly expressed financial goals shared by physicians. As CPA’s and Financial Advisors, we have the experience and knowledge to help you be as tax efficient as possible. Throughout each area of financial expertise, we remain diligent to understand and mitigate the tax consequences of every decision, and through our careful analysis, we will ensure that you keep as much of your hard-earned money as your situation allows.
Tax Services
An estate plan can help you transfer your wealth in accordance with your wishes. Whether your goal is to protect your assets, take care of your family in your absence, leave a legacy to your next generation or favorite charitable organization, pass along a business or minimize wealth transfer taxes, PRG can help you design a plan that considers your wealth transfer needs and goals.
Estate Planning Services
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