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Category : Wealth Management

The Big Picture on Donor Advised Funds

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  • October 14, 2018

A Donor Advised Fund (DAF) is a flexible vehicle for making a charitable contribution to your favorite causes while aiding you in your tax planning. It is essentially an effective tool to gift to your favorite causes while doing so in a way that financially benefits you.

Identifying a Cause

Not all donors have existing ties to a particular organization or cause, they simply know they would like to give back. Establishing a DAF does not require knowing who the beneficiary will be or when you would like to make your contribution, those key details can be determined at a later time. Looking into a DAF still makes sense at this stage of the game as you can plan for your long-term charitable intentions now.

Financial Benefit

While the primary motive for making charitable contributions both big and small is altruistic, an added benefit is financially related. Your donation, whether it’s a cash donation or a donation of appreciated stock, presents a charitable deduction opportunity in the year the contribution is made. Even if you don’t intend to gift the money for many years down the road, you can benefit from the full charitable deduction in the year that you’ve planned for it. Essentially, a DAF will offer you the benefit of fund growth and a tax deduction while giving you the time to find and research charities you wish to donate to at a later time.

Reducing Tax Liability

There is no doubt that a DAF can be an effective way to reduce your tax liability. It can be particularly useful in a high-income year. A DAF is one tool to explore to reduce taxable income and thus reduce tax liability.

Establishing a DAF not only helps you accomplish your long-term charitable giving goals, it can also help limit your tax liability. Reach out to the Metroplex Wealth team to learn more about DAFs.

What to Look for in a Wealth Management Firm

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  • September 22, 2018

Identifying a wealth management firm that is a challenging decision with implications for your future. When entrusting an individual or firm to take the lead on your financial affairs, you’ll want to consider a few key factors.

Core Competencies

It goes without saying that the firm you select should have strong core competencies as they relate to wealth management. While hiring someone who specializes in wealth planning and investing is wise, engaging a firm that also has strong experience in services like trust services or borrowing is wise as you may need those services down the road. By selecting a well-rounded firm with a deep bench of experiences, you won’t have to go back to square one as your needs evolve. It doesn’t hurt to ask about clients the firm has worked with that have situations similar to your own. This is especially relevant if you have a unique situation requiring specialized experience.

Service Philosophy

Not all wealth management firms are created equal. Ask the tough service philosophy-related questions on the front on to have a clear understanding of how your working relationship will function. Align yourself with a firm that matches your preferred levels of service. Are you someone who prefers to work directly with your wealth manager and meet on a regular basis? Communicate that preference openly.

Performance

A critical quantitative piece of information you’ll want to request, performance. You’ll want to look for a firm that can illustrate consistent results over a period time, at least several years. This should apply to both wealth management and portfolio management.

Ultimately, when selecting a wealth management firm, trust your instinct, do your due diligence and don’t hold back no asking the questions you deem important.

Fundamental Investment Basics to Keep Top of Mind

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  • September 4, 2018

 

 

 

 

 

The world of investing is a large, and one you can easily get lost in if you don’t have a clear idea of what you want to accomplish. Rather than getting intimidated or overwhelmed by the process, familiarize yourself with investment basics and kick off your investing.

Determine Primary Objectives

Your objectives are impacted by your age, goals, income, and personal circumstances, to name a few factors. By establishing your primary objectives, you’ll more easily be able to give your money a purpose. An experience wealth manager can help you boil your objectives down and bring clarity to your long-term goals. Whether your objectives are related to growth, income or safety will help guide your strategy.

Investment Types

Between mutual funds, stocks, bonds, and alternative investments such as real estate and gold, the investment vehicles available can seem daunting. Having a clear understanding of your risk tolerance level will clear some of the fog clouding your investing decision making. While bonds are generally considered a relatively safe investment, the return potential of this investment type is lower. On the flip side, stocks are considerably more volatile and can fluctuate on a daily basis. Your wealth manager can help you determine what blend of investment types is best suited to your personality and goals.

Develop a Strategy

Once you’ve considered your primary objectives and landed on those most critical to you, and considered the investment types available to you, it’s time to develop a strategy. If you’re this far along in the process and have no engaged a wealth manager, now is the time to do so.

While it’s important to have an understanding of your investment goals and options before investing, don’t let that uncertainty keep you stagnant. Do your research, ask questions and engage a wealth manager to light a fire under your investing.

Budget Items Most Clients Don’t Account For

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  • August 22, 2018

Effectively building wealth isn’t simply about making wise investments, it also hinges on responsibly managing your income. While some of the smaller dollar amounts we’re talking about may seem trivial in the grand scheme of things, when compounded over years, they are considerable. When considering creating your budget, what are some items many of our clients don’t account for?

Maintenance Expenses

For many, their home and vehicles are their most valuable assets. Yet many people don’t account for inevitable maintenance expenses on either asset. The time to start saving for a new roof is not when you notice a portion of it is caving in, but long before. Vehicles maintenance costs should not be scoffed at either, as they can quickly tally in the thousands.

Special Occasions

While you may not have a wedding reception or a big birthday trip for your friend on the calendar right now, it can’t hurt to carve out some funds for special occasions. Nothing strips the joy from fully enjoying a wedding reception than considering how much debt you’ve accrued over the weekend.

Seasonal Expenses

When looking over your bank statements, there are likely some months in which you’ll notice spikes in your spending. If any of that can be attributed to seasonal expenses, like the kids going back to school or costly
landscaping each season, try to budget for it so that you’re not caught by surprise.

The examples we’ve shared shouldn’t be all of the items that make the cut on your budget, they are simply a few points we wanted to highlight. Having a realistic budget that accounts for the unexpected will keep you from panicking when the unexpected comes up while supporting your long-term wealth building goals.

What Clients are Saying About Metroplex Wealth

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  • August 10, 2018

We take great pride in leading and supporting our clients on their wealth building journey. That’s why feedback from our clients resonates so loudly for our team. For over 30 years, Metroplex Wealth has worked closely with businesses and individuals to support them in reaching their financial goals. In that time, we’ve received tons of firsthand feedback from our customers.

Solutions-Driven

One of our clients, Stephen from Southlake, Texas, commented on our solutions-driven strategies.

“In just 2 short meetings with Metroplex Wealth, they managed to provide a solution personally catered to my situation and expectations. Very knowledgeable and very reliable.”

With his feedback, Stephen really zeroed in on the fact that we don’t employ a one size fits all investment strategy. When talking with our clients, we craft custom, solutions-driven strategies based on their respective individual goals.

Deep Bench of Experience

Eugene from Dallas, Texas, offered us some feedback that spoke to our character.

“Very professional financial advisors, who are true to their word. I would recommend Matt & his team to anyone looking for an experienced wealth management team.”

Our experienced team of advisors, CPA’s and lawyers are not only a knowledgeable team, they’re also professional. We treat our clients with respect and serve as the perfect partner with whom to discuss your short-term and long-term wealth management goals.

Range of Needs

We provide a wide range of financial services including but not limited to, wealth management, retirement planning, asset protection, social security, estate planning & probate, proactive tax planning and investment strategy. When clients like Jennifer from Colleyville, Texas come to visit us, we’re able to serve her various needs without an equal commitment to excellence.

“It’s taken me several years to find a financial advisor group like Metroplex Wealth, that can handle all of my retirement and estate planning needs.”

We happen to believe that our client testimonials speak for themselves! What are you waiting for? Call the Wealth Management team at 817.601.5272 to speak to one of our team members and launch your wealth management journey.

For over 30 years, Metroplex Wealth has worked closely with businesses and individuals to support them in reaching their financial goals. In that time, we’ve received tons of firsthand feedback from our customers.

5 Common Wealth Management Mistakes To Avoid

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  • July 20, 2018

To ensure that wealth is managed effectively, both right now and down the road, it’s valuable to remain aware of common wealth management mistakes. Avoiding them will get you well on your way to doing everything you can to facilitate the growth of your money over time.

Closed Communication with your Wealth Manager

A transparent relationship with your wealth manager will help pave the way to a productive working relationship. Whether it’s a matter of clearly outlining your goals or accurately disclosing your assets to your wealth manager, keeping the lines of communication open is essential.

Neglecting Tax Implications of your Investments

Giving careful consideration to the tax implications of your investment portfolio decisions can negate any concern of major surprises later. Many an investor has brushed this consideration to the side only to be shocked at the tax implications of their decisions when it’s far too late.

Not Diversifying Your Investment Portfolio

Exclusively investing in one asset class opens your portfolio up to risk. While it might be tempting to invest all of your wealth in real estate, for example, it’s as important as ever to balance your portfolio through diversification. Our experienced wealth managers can explain the range of diversified instruments available and provide valuable investment suggestions.

Investing Emotionally

Letting emotion drive your investment decision making is a sure fire way to crash and burn. Whether it’s a matter of investing hard-earned money in support of a friends new business idea or pulling all of your investments out during a dip in the market, emotional investing should be avoided.  

Regardless of what phase of your financial planning journey you are at, engaging a wealth management professional can be an effective way to avoid making common wealth management mistakes. If you’re ready to get a step closer to achieving your financial goals, contact the team here at Metroplex Wealth, LLC.

4 Savvy Asset Protection Strategies to Consider

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  • July 6, 2018

Your assets won’t protect themselves. Creditors and taxes can take a huge chunk of your hard-earned money right out from under you. It’s necessary to incorporate deliberate, educated strategies to secure your financial future and shield your hard-earned money from risk. The wealth management team at Metroplex Wealth is well-versed in the art and science of asset protection to ensure our clients assets are legally protected.

Retirement Plans

While no one wants to consider the possibility of losing their assets, it’s wise to consider worst-case scenario and plan accordingly. Traditional IRAs and Roth IRAs, for example, have a generous cap protecting them from bankruptcy proceedings while certain plans quality for unlimited protection. 401 (k) or 403 (b) plans, meanwhile, feature exemptions from most creditors’ claims.

Family Limited Partnerships

Controlled by family members, a family limited partnership is an beneficial structure available to some clients to protect their assets. When it comes to effective tax minimization and estate planning, establishing a family limited partnership is the way to go.

Gifts

A considerable driving force behind building wealth is securing the financial future of your family. Gifting a portion or all of your assets to family or a charitable organization of your choice is an effective strategy with a big impact. By reducing taxes and probate fees and limiting exposure to creditors, certain assets can certaInly be protected through gifting.

Trusts

Trusts can be designed to protect your hard-earned money from creditors as they can be shielded from estate taxes. When setting up a trust, a trustee will manage your property and money, requiring you to relinquish some control of your assets.

After working long and hard to accumulate significant assets, it’s worth taking some time to consider how you can protect your assets most effectively.

Why Clients Choose Metroplex Wealth

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  • June 18, 2018

We’re passionate about helping our clients develop long-term financial stability and sustainability. Our 20+ years in the wealth management industry and our track record of consistent success are just two factors driving clients to choose Metroplex Wealth for their various wealth management needs.

Custom Approach

The Metroplex Wealth team listens to your specific needs to develop custom solutions for each of our clients. We don’t use a one-size fits all approach. Instead, we help our clients implement a customized sustainable plan which, implemented over time, will help you achieve your financial goals. Based on where you are in your life cycle and what your goals are, our team will help measure risk capacity and will use that information to make strategic suggestions for wealth management and retirement planning.

Professional Team

Passionate about helping our clients and making the world a better place on a daily basis, our client testimonials speak volumes about the skills of our professional team. Each member of our team has a wealth of knowledge in the financial industry, necessary certifications and a zest for life. They leverage the most effective investing tools to serve our clients.

Full Range of Services

With a comprehensive suite of services, our clients entrust us to handle a wide range of needs. Whether you’re needing one specific service or need a trusted wealth management professional to lead several facets of financial planning, you can turn to Metroplex Wealth. We provide wealth management, retirement planning, asset protection, social security, estate planning and probate, proactive tax planning and investment strategy services.

Whether you’re just starting out on your financial planning journey or you’re well on your way, the Metroplex Wealth team would welcome the opportunity to work with you to define your goals and develop a plan to achieve them.

3 Reasons Many People Don’t Manage Wealth Effectively

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  • June 18, 2018

Not having managed your money effectively to date is not a valid reason for continuing to do so. In fact, you should use this circumstance to spur you into action! It may come as a surprise but there are many people people who do not manage their financial health effectively. While their reasons are varied, they all too often include some combination of the reasons we cover below.

Intimidation Drives Inactivity

Determining the best avenue for financial investment can be an intimidating process, especially when faced with a multitude of opportunities. With so many information available in published material, advice on the internet and insights from personal contacts, feeling intimidated by the whole process can drive people to do nothing at all.

Bad Habits

For those that have not managed their wealth with intention, it’s easy to fall into a pattern of earning and spending. Years of bad habits and repeated behavior can result in very little progress in terms of creating future wealth. Fortunately, breaking bad habits and establishing new, financially-sound behavior is easy to do when guided by a professional. A wealth planning professional can help educate you on the possibilities, address your questions and help you make educated financial decisions.

 

Lack of Focus

With so many responsibilities on your plate, it can feel impossible to focus on wealth management. A wealth management professional can help you automate your investments so that they simply become an established line item in your budget. The Metroplex Wealth team is well-versed and experienced in guiding clients through our process, which helps clients focus on achieving their financial goals.

Regardless of what is keeping you from managing your wealth effectively, the Metroplex Wealth team can help you identify, create and execute a plan best suited to meeting your goals.

Why You Should Hire a Wealth Manager

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  • May 7, 2018

Each wealth management decision you make serves as a building block for your future financial health. Hiring a wealth manager is one of the most simple ways to ensure that each decision made is bringing you one step closer to, not farther from, your financial goals.

Increasing Complexity

As your acquire more assets, managing your wealth becomes more and more complicated. Couple that with marriage and building a family and the whole process can quickly become unwieldy. Responsible financial management requires consistency, attention to detail and intentional, experience-backed decision making. As you age, complicated concerns related to estate planning become more and more relevant. A wealth manager can serve as a trusted partner in working with an estate planning professional to manage assets and assist your family with any necessary transitions. Boosts in income and promotions may surprisingly put you in a favorable finance state. It is at this time that bringing a wealth management professional into the mix proves particular valuable as they can help you navigate your growing pool of assets.

Planning for Your Future

Taking steps towards planning for your future includes far more than estate planning. Deliberate retirement planning measures implemented today have the potential to grow your assets and accumulate considerable wealth in the long-term. A wealth manager will provide valuable insight into creating and executing a retirement plan.

Anticipating the Unexpected

It’s not possible to plan for every circumstance in life. There are some situations, however, that you can anticipate and plan for. Whether it’s taking care of a sick parent or helping a child through college, wealth management best practices suggest you should try to anticipate the unexpected. Including a professional in this planning process can help bring to light situations you haven’t yet considered. A wealth management professional can also help you develop an actionable plan for anticipating the unexpected.