The Team Approach

The Team Approach

The tax book is 80,000 pages. The stock market, inflation, the housing market, the economy, the speed of information, and the government are changing at an unprecedented rate. It is impossible for one advisor to know it all.

Instead of a traditional wealth manager or financial advisor who  simply focuses on your wealth management, we utilize a team of advisors when working with our clients.  

Our advisors come from multiple disciplines, including CPAs, insurance brokers, investments managers, and estate planners, who work together to make our clients have a solid plan built with intentionality. By being intentional and strategic, we are able to consider the most complete picture of our client’s plan, help to maximize their wealth, and minimize their taxes.

Disclosures

Black Stone Wealth Protectors does not provide legal, tax, and/or accounting consulting and/or advice. We have provided you with this material strictly in its capacity as an educational tool. The information contained herein is based on our interpretation of the existing Internal Revenue Code, and the application of relevant statutes, regulations, court rulings, and familiarity with this material as it currently exists. Based on the legal and accounting complexity of these topics, along with the changing statutory and regulatory environment, we strongly recommend that you consult with, and seek the advice of, your legal and/or accounting advisor(s) regarding this material.

Introduction

Introduction

My goal is to vastly improve your quality of life. How can I do this? By providing you with correct financial information that can equip you to make the best financial decisions for yourself and for your family, and your business and employees, if you are a business owner.
I would like to introduce you to new thoughts and ideas that give way to a journey you never knew existed. I have dedicated this website to help you on your journey. It all starts with knowledge, understanding, and implementing the most efficient strategies.

Financial security and wealth are made up of so much more than simply accumulating assets. The Feds manipulate the markets and inflation by printing money and through interest rate changes. Tax laws constantly change. Social Security and Medicare have funding problems. The stock market goes up and the stock market goes down. Everything constantly changes, yet most of the population still follow the old financial advice.

What good does it do to accumulate assets if they can all disappear instantly? Some portions of a person’s life can be out of their control.
For example, you cannot always control taxes. However, with proper tax planning or tax management, you can reduce the impact taxes have on your life. When looking at the returns of your portfolio, it is not just about the returns or the taxes of your portfolio. You must look at your entire financial picture. If tax management is not part of your financial plan, you can inadvertently pay more in taxes than what you make from your returns.

Consider these other aspects of life that cannot be controlled:

∙ Inflation
∙ Stock markets
∙ A job loss
∙ Sickness
∙ Disability
∙ Death

There is an incredible amount of misinformation in the world today. Most of what you see comes from big corporations, banks, and even Wall Street. Whose interests do you think they are more concerned with, yours or theirs? Do you think the information you have been given is the whole picture? Or is it possible that you are only seeing the parts that they want you to see?
I believe the best financial plan is created by working as a team of lawyers, CPAs, Medicare experts, and other professionals needed for your unique lifestyle. Each professional has a specific area of expertise. Together, we can create a plan that will set you up for financial success. I will work with your team or I can bring professionals in that I have vetted.
Think of your financial plan like your favorite sports team. Each team member has their strengths and their weaknesses. You can put together a team of great players with the same strengths and weaknesses, but there will be gaps that other teams will be able to take advantage of. And ultimately, they will take a group of great players and make them a mediocre, or less than mediocre, team. Each player would be working for himself or herself. There would be no strategy or collaboration.
This is the very same scenario that takes place with inefficient financial planning. Each product has strengths and weakness. If there is not an efficient strategy in place, the “other team” will take advantage of the areas that have not been properly accounted for. Essentially, it is like your junk drawer in your kitchen. There are a bunch of random items in there that don’t fit together.
I encourage you to have a team of experts on your side. I would also encourage them to work as a team for your best interest. This team should include an investment specialist, a tax expert, a life insurance expert, and an attorney. Without this team, your financial plan ends up looking like a junk drawer filled with products with no strategy. They do not have an efficient interaction with one another.
The result of traditional financial planning has created many failures. The industry has done everyone a disfavor. Industry experts cannot even decide what the most important part of a financial plan is.
What I propose is to continue to change and evolve your financial plan throughout your lifetime. As your lifestyle and values change, so should your plan. This process works differently than others; instead of working backwards and asking how much you want in retirement, I begin with the only certainty we have, and that is what is happening in your world today.
What we know today is the stock market makes no sense; inflation is rising; and taxes are rising.