Wealth Management

Wealth management is a comprehensive combination of financial planning, retirement planning, estate planning, investment management, accounting and tax planning services, offered by a financial professional, with the ultimate objective of helping clients achieve their financial and life goals. A wealth management advisor takes a holistic look at the client’s financial picture, to offer the appropriate services and advice that help the client preserve their wealth, achieve their goals and ensure a smooth transfer of wealth to the next generation.

Numerous measures can be taken to safeguard your wealth. These include engaging in thorough retirement, estate and trust, and business succession planning, increasing tax efficiency, or developing sound investment strategies. A wealth management advisor helps you determine which wealth protection efforts make the most sense for you, given your circumstances and goals.

An experienced wealth management advisor provides peace of mind when it comes to your finances, making difficult decisions easier. They get to know you, develop a deep understanding of your wants and needs, and help you clearly define your financial goals. Then, they use their expertise to create a comprehensive financial plan that encompasses your goals, with strategies that help you achieve them.

A wealth management advisor simplifies and helps you understand the complex financial topics you may not have the time (or desire) to research on your own. Their expertise is vital in managing and enhancing your portfolio, becoming more tax efficient, and planning for both the short-term (budgeting and cash flow management) and long-term (retirement and estate planning, wealth transfer).

Personal finances are closely tied to some of the most intimate aspects of your life. Therefore, the objective and less emotional perspective of a wealth management advisor is essential to help you make smarter financial decisions. The advisor brings new ideas and strategies to your attention that you may not have considered on your own. Additionally, they keep you informed with changing regulations and industry trends, so you can apply these changes to your own financial situation.

It’s common to seek the guidance of a wealth management advisor when you experience a life event that creates challenges, opportunities or complications in your financial situation. For example, a change in your career, a business opportunity, inheritance, retirement, or starting a family are several of many life events that could impact your finances. An experienced wealth management advisor provides the guidance, advice and peace of mind needed to make the critical decisions that come with these changes.

However, change isn’t the only reason to tap into the expertise of a wealth management advisor. No matter the time or reason, an experienced advisor provides valuable input that, when applied to your financial situation, help you achieve your goals.

No. Job titles vary widely across the financial industry, providing inconsistent representations of experience and expertise. Thus, it is important you vet potential advisors to verify and understand their experience and credentials.

If you choose to hire a wealth management advisor, consider working with someone who is held to the fiduciary duty that obligates them to act in their clients’ best interest. Additionally, an advisor who is a CERTIFIED FINANCIAL PLANNER^TM (CFP®) professional is a highly experienced fiduciary who has undergone rigorous training, passed the certification exam and is held to the ethical standards of the CFP Board. No matter who you choose to work with, ensure the advisor is objective and has the right expertise and specializations to provide the guidance you need.

The financial industry also has many different types of wealth management firms, each offering a different range of services. Some are more limited, specializing in only certain areas of financial planning or investing. Boulay provides clients with more than just wealth management expertise. We have easy access to subject-matter experts across the firm in tax, assurance, business consulting, employee benefits and ownership, risk advisory, transaction advisory and more. We are a one-stop shop, conveniently providing clients with coordinated guidance on all their personal and business financial challenges.

The WealthNAV^TM Experience is Boulay’s proprietary wealth management process. Through this process, featuring our WealthNAV^TM online system, we explore what you value—your interests, hopes and goals to develop a personalized wealth and tax strategy plan. With ongoing evaluation, we help you visualize where you want to be in the future, creating clarity and an enduring legacy that passes on your values and wealth. The WealthNAV^TM Experience is broken down into five phases:

1. Discover: Identify Your Goals
2. Explore: Create Your Vision
3. Plan: Chart Your Course
4. Navigate: Implement Your Strategy
5. Evaluate: Ongoing Monitoring

Boulay wealth management advisors assist clients in a variety of ways, including:

• Personal financial planning services
• Retirement planning
• Estate and trust
• Insurance strategies
• Tax optimization and planning
• Charitable planning
• Business succession planning
• Investment management services
• Asset allocation and diversification
• Tax-efficient investment management
• Due diligence
• Family wealth services
• Family office
• Trustee support
• Employer retirement plan services
• Fiduciary support
• Plan design
• Participant education
• Investment advisory

Boulay Financial Advisors, LLC charges a comprehensive fee that covers its ongoing financial planning and investment services. We do not charge any performance-based fees (fees based on a share of capital gains or capital appreciation of the assets of a client) or side-by-side management fees. While we do not require clients to have a minimum level of investable assets, our minimum total annual fee is $6,000. For special circumstances the minimum fee may be negotiated or established at a flat annual rate.

Fees for our investment advisory services are negotiable and are not based on a share of capital gains or capital appreciation of the funds or any portion of the funds. Fees typically start at 1.00% and decrease as the size of the portfolio increases. Please review Form CRS for additional information on how we are paid.

Boulay Financial Advisors provides financial planning and portfolio management services to individuals, high net worth individuals, corporate pension and profit-sharing plans, charitable institutions, foundations and other entities. Our typical clients are well-educated, down-to-earth achievers who have worked hard to attain significant wealth through their successful careers. With their wealth comes complex financial questions and decisions that require comprehensive, customized and objective advice.

Our clients appreciate that we have earned their trust and are delighted with our team-based and “client-first” approach to serving all of their financial needs in “one stop.” They value our feedback, implement our advice, and take advantage of the ongoing guidance and education we provide—not only in the wealth management realm, but in other areas of finance and accounting, provided by subject-matter experts across the firm. With our assistance, our clients gain peace of mind and prioritize their energy into their family and the pursuit of their personal interests and goals, rather than worrying about the burden of managing their finances.

We work to build relationships with clients who are compatible with our culture and who will benefit from the specific expertise and experience of our wealth management advisors.

Though we are based in Minnesota, we work with clients across the country. We use the following technology to ensure a positive experience for our clients, no matter where they are located:

• Zoom, Microsoft Teams and Skype for virtual meetings
• WealthNAV^TM, our online platform where clients monitor their entire financial picture, create and edit budgets, and see the projected impact of any potential changes to their financial plans
• A highly secure online client portal to store and exchange sensitive financial documents
• Email, phone, website and social media for continuous communication, updates, and announcements

You can expect:

• To receive holistic and integrated tax, estate and wealth advice that simplifies the financial complexities of life
• A team-based and collaborative approach
• Our team to utilize the collective wisdom and subject-matter expertise of our wealth management advisors and CPAs to provide sound advice across numerous financial and accounting disciplines
• To be prioritized, understood, and valued; to receive guidance and services that are based upon our deep understanding of your needs, goals, and circumstances
• To seize opportunities, receive clear answers to their questions, and find solutions to your financial challenges
• Our team to adhere to the highest ethical, professional, and service standards

To get answers to any questions that are not on this list, or to schedule a meeting with a Boulay wealth management advisor, connect with us today.