The Seven Pillars of The Aviance WealthPlan™

Brian Cotroneo

The Aviance WealthPlan™ consists of seven “pillars” or focus areas that every financial plan should consider.  The relative importance of each pillar changes as an individual progresses through their financial journey: for example, someone with young children will likely prioritize Education Funding while a retiree is more likely to focus on Estate & Trust Planning.

While one area might be a near-term focus, it is critical that all areas be regarded as equally important contributions to the wholistic plan as they are inextricably linked.  Decisions made in one area will directly impact another and no decisions should be made in a vacuum.  This is the underlying strategy of the Aviance WealthPlan™ – a consolidated and comprehensive process designed to optimize efficiency, decrease tax exposure, mitigate insurable risks, and ensure readiness for financial milestones.

Below is a brief description of each Aviance WealthPlan™ focus area.  For more information on a particular area, please see our website at https://aviancecapitalpartners.com/aviance-wealthplan/ or contact us using the information below.

Risk Management: The primary goal of Risk Management is the identification and mitigation of any personal or business risk exposures you have.  We offer a wide array of insurance coverages through strategic alliances with various carriers and evaluate the suitability of any policy based on needs, affordability, risk tolerance, time horizon, and flexibility.  We similarly evaluate the fitness of potential insurers based on financial stability, coverage, price, and service model.

Cash Management:  Our efforts center on constructing bespoke solutions to alleviate the burden of cash flow management.  We provide guidance on appropriate cash vehicles, retirement account distributions, and optimization of withdrawals.  We also customize portfolios to match milestone payments that are needed in the future such as education, property, or any other large purchase.

Tax Management: Taxes affect every aspect of financial planning and are a critical component of any comprehensive plan.  We will assist your current tax team with management and reduction techniques, collaborating directly with your tax advisor to implement strategies for deductions, avoidance, exclusions, loss harvesting, and charitable contributions.

Retirement Income Planning: Our primary goal in retirement planning is assuring adequate income for you in the future.  Our process is designed to give you an understanding of when retirement is feasible given your particular circumstances, risk preference, time horizon, and cash flow requirements.  We will analyze your sources of income such as private savings, employer-provided retirement plans, and government programs.   Since markets are historically unpredictable, we will model and test your plan against random variables to understand the impact of risk and uncertainty.

Education Funding:  We will recommend saving strategies and funding methods that position to you to meet the needs of financing a child or grandchild’s education. From those recommendations we can construct a diversified approach utilizing Section 529 plans, Pre-Paid University Plans, or other advanced methods such as Trusts, UTMA, UGMA, Annual Gifting, Unlimited Tuition Exclusions, and Cash Value Life Insurance Policies.  Each plan will include projections, implementation strategies, and continuous progress monitoring.

Estate & Trust Planning:  You want to provide a respected legacy that showcases your values and provide resources to loved ones in a responsible and efficient manner.  We will help you accomplish this by focusing on family and charitable objectives, minimizing income and estate taxes, and preserving wealth for you and your beneficiaries.  We’ll also collaborate with your attorneys, accountants, and other professionals to protect your assets while living and efficiently transfer your wealth upon passing.

Charitable Giving:  Similar to Estate & Trust Planning, we will work to understand your objectives, identify available resources, and formalize your charitable intentions.  Your investment strategy will be will then be aligned with your specific goals and gifting objectives.  We’ll then apply our technical expertise to inform you on the most appropriate assets, tools, & methods direct charitable gifts.