Our Approach
We help clients achieve clarity, confidence and structure through our six step process, learn more about each step below. Throughout the entire process we address each of the 10 critical wealth management concepts helping clients to uncover any financial blind spots.
We Begin by Listening to You
We bring our collective education and experience to each client relationship. We direct our energy, passion and expertise to the process of helping our clients succeed personally and financially.
Getting to know you
We get to know what's most important to you
- Family History and Dynamics
- Personal and Business Dreams, Goals and Values
- Experience with Investments & Advisors
- Charitable and Family Gifting Philosophy
- Appetite Range for Return and Volatility
Comprehensive Financial Overview
We'll provide a 360-degree, deep dive overview of your situation
- Income, Assets, Liabilities, Liquidity Issues
- Insurance, Taxes and Estate Planning
- Spending and Forecasting Cash Flows
- Expenses Portfolio and Risks
- Benefit Plans and Incentive Programs
Analysis & Plan
Using state-of-the-art Envision planning software, we simplify the complex
- Retirement / Balancing Multiple Goal Scenarios
- Generating Portfolio Income
- Optimal Saving /Spending Levels
- Impact of Market Corrections or Large Expenses
- Inflation, Longevity, Long Term Care Scenarios
Advice & Implementation
We propose appropriate solutions and strategies after a thorough analysis by providing
- Partner reviewed recommendations
- 1 Page Executive Summary and Checklist of Next Actions
- We Follow Through on our Commitments
- Holding our Clients Accountable to their Best Intentions
Monitor & Evaluate
It's critical to stay focused on the long term and to make occasional course corrections
- Monitoring Progress Towards Achieving Your Goals
- Evaluating Investments, Results, Risks and Opportunities
- Anticipating and Adjusting to Life Events and Transitions
- Seeking Opportunities for Tax Efficiency
Ongoing Service & Reviews
Our Client Service model involves
- Systematic and Recurring Client Calls & Meetings
- Periodic Check-ins, Emails and Conference Calls
- Enlightening and Entertaining Events
- Collaboration with Your CPA & Attorney
Wealth Management Services
FAMILY FINANCIAL OVERVIEW
Clarify family values, goals and objectives
Assemble consolidated
financial statements
Identify and triage immediate
financial priorities
Create financial organizational binder
DEVELOP A PLAN
Define an ideal and acceptable lifestyle
Identify sources of income
Optimize spending and saving priorities
Implement Envision® plan and
financial strategy action plan
WEALTH AND INVESTMENT
MANAGEMENT
Executive summary portfolio review
Customized portfolio solutions
Third party investment
management services
Cash management services
LIABILITY MANAGEMENT*
Liability analysis and optimization
Through Wells Fargo affiliates, you have access to banking services, including:
- • Securities-based lines of credit
- • Residential mortgages
- • Home equity financing
- • Small-business financing
- • Credit cards
RETIREMENT PLANS
AND COMPANY BENEFITS
Retirement plan analysis and coordination
Executive stock compensation strategies
Managing and understanding
corporate benefits
Concentrated equity strategies
RETIREMENT INCOME PLANNING
Design tax efficient streams of income
Incorporate life cycle spending strategies
Administer required
minimum distributions
Develop Social Security and Medicare planning strategies
INSURANCE AND
ASSET PROTECTION**
Policy reviews and needs analysis
Life and disability insurance
Extended care planning
Wealth replacement strategies
LEGACY PLANNING
AND PHILANTHROPY
Beneficiary and account titling review
Estate and wealth transfer strategies
Philanthropic and gifting techniques
Donor advised funds
ADVANCED PLANNING
Business succession planning
Intergenerational planning
Life management services
Education planning
COORDINATION WITH
CPA AND ATTORNEY***
Collaborative meetings
Open and proactive communication
Legacy document and tax return reviews
Tax control strategies
“The greatest risk to a client's well-being is deviating from a long-term plan in search of short-term comfort during times of temporary unease. Our planning process and the education we provide help replace the stress often felt during times of uncertainty with confidence.”
– Tony Parr
IMPORTANT DISCLOSURES
*Lending and other banking services available through Wells Fargo Advisors (NMLS UI 2234) are offered by banking and non-banking subsidiaries of Wells Fargo & Company, including, but not limited to Wells Fargo
Bank, N.A. (NMLSR ID 399801), Member FDIC, and Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. Certain restrictions apply. Programs, rates, terms, and conditions are subject to change without
advance notice. Products are not available in all states. Wells Fargo Advisors is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act and the Arizona Department
of Financial Institutions (NMLS ID 0906158). Wells Fargo Clearing Services, LLC, holds a residential mortgage broker license in Georgia and is licensed as a residential mortgage broker (license number MB2234) in
Massachusetts.
**Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
***The Parr McKnight Wealth Management Group, Wells Fargo Advisors Financial Network and its affiliates are not legal or tax advisors. Trust services available through banking and trust affiliates in addition to nonaffiliated companies of Wells Fargo Advisors Financial Network. Any estate plan should be prepared and reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.
333 South Seventh Street, Suite 2370
Minneapolis, MN 55402
Directions
(612) 324-0240
info@pmwmg.com
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