David, 68
Wondering if his money will last.
David, 68, retired from a corporate position
four years ago. He had been working with the same financial advisor
for over a decade, but didn't have a real understanding of either
how much he could afford to spend or how his investments would last
him the rest of his life. David began asking friends about their
relationships with their financial professionals. After an honest
description of how The Wiley Group works, David called to set up an
appointment.
Here's How We Help David
Sometimes, prospective clients will approach us after their
retirement. Occasionally they will have been separated from service
involuntarily, and for this reason done no formal retirement
planning. Some people will come to us after working with another
advisor for several years, dissatisfied with the level of service
they are currently receiving. For whatever reason, we will gladly
run a complete analysis of your financial situation and give you
honest, objective feedback on your retirement plan.
Run Financial Projections
The first step for David, as it is for all people with whom we
meet, is to run a feasibility analysis. David had never seen
a financial probability calculation before his meeting with
us. He was happy to find out that he could spend just over
what he was currently spending in order to give him an acceptable
probability of success in retirement. Knowing exactly where
he stood and how much he could spend was a source of comfort to
David.
Cost / Benefit Analysis
We then ran a portfolio allocation and cost/benefit analysis of
David's portfolio. We found that not only was David
completely in the dark about how exactly his portfolio was
allocated, he had no idea what he was paying for some of the
investments that his previous advisor had recommended.
The Big Picture
David inquired as to our portfolio methods and cost. Once
we explained everything and broke down the cost of our services, he
decided to transfer his entire relationship to The Wiley Group.
After working with us for several months, we believe David now
feels like he completely understands where his assets will take him
in retirement. We have worked hard to ensure he has an
understanding of exactly what he is able to spend for the rest of
his life and is happy that his plan is being consistently
monitored.
This case study is hypothetical in nature, and not a portrayal of a current Wiley Group client. It is designed to provide some insight into what you may expect when working with the Wiley Group regardless of your age and situation.
