A Wall Around Your Wealth: The Importance of Asset Protection

 Success can come with a major downside: It can make you a potential magnet for lawsuits—including frivolous and unfounded ones—and other attacks that can wreak havoc on your financial health and stability. 

Indeed, you may very well know someone in your life who has been sued. Maybe it was you! 

That means you’ve got to take steps to protect the assets you’ve worked so hard to build from being unjustly taken. Otherwise, you may jeopardize your financial security and that of your company and your family. 

WHY YOU NEED ASSET PROTECTION 

Asset protection planning as we define it is pre-litigation planning that is designed to deter lawsuits if possible—and if not, to encourage favorable settlements. 

The logic of asset protection planning is clear: You build a wall around your wealth that is as difficult as legally possible for litigators, creditors and others to scale. Instead of trying to fight it out with you in court for months or years and risk losing, the litigant sees that the only reasonable option from a legal standpoint is to settle for pennies on the dollar—or, ideally, to leave empty-handed.

Important: Asset protection isn’t about “hiding money” from the world—quite the opposite, in fact. You want anyone who might come after your assets to clearly see what you have done to build a wall around your wealth. Why? It shows them the difficult legal path they’d have to take to get at that wealth—which, hopefully, will cause them to settle, negotiate or (ideally) throw up their hands and walk away. 

 

The good news is that the threats to your wealth from other people and entities may be on your radar screen. Take successful business owners, for example. More than 85 percent of successful business owners say they are concerned about becoming the object of unjust lawsuits or being victimized in divorce proceedings. The bad news: Only about a quarter (27.5 percent) of them actually have a formal asset protection plan in place (see the exhibit at right). The percentage is even lower among those business owners who say they are concerned about protecting assets. Given the risks that our litigious culture presents, these numbers are likely far too low. 

 

FOUR ASSET PROTECTION ACTION STEPS TO CONSIDER 

If you’re among the many types of successful people out there who lack an asset protection plan—or if you’re simply curious whether your existing plan is still as strong as it needs to be—consider taking a few key actions. 

1. Get protected before a claim against you is made. You can do a lot to protect your wealth before a liability arises—but thanks to a concept known as “fraudulent conveyance,” very little can be done after. As with insurance, the time to have asset protection in place is well before you need it—or even think you might need it. 

2. Cover the basics. Evaluate your liability insurance and other related policies and maximize them as best you can. Probably the fastest, easiest and cheapest move you can make is to take out a large umbrella policy to safeguard assets. Another simple but powerful strategy is to place your assets in someone else’s name, such as your spouse’s. If you’re sued, those spouse-controlled assets are often untouchable. 

Pro tip: Be sure you have a great deal of trust in your spouse and your marriage before transferring ownership of assets to him or her. In a divorce, your spouse could potentially walk away with those assets—or you could be forced to fight for them at least as hard as you’d fight a creditor who went after them. 

3. Consider a variety of other asset protection strategies. The asset protection strategies you may need will depend on your specific situation, of course. That said, it’s generally a good idea to consider your options, which might include: 

Ascertain appropriate utilization of risk transfer through property-casualty insurance (homeowner’s, auto, rental, personal excess liability [umbrella], health, disability, life, long-term care, directors’ liability and professional liability insurances). 

Consider various forms of ownership that either put assets beyond the reach of a creditor or make these assets less desirable for creditors. 

Discuss gifting assets when there are no current creditor issues in order to lessen the likelihood of raising fraudulent transfer issues. 

Structure any expected gifts and/or inheritances to protect them from claims of creditors. 

4. Be sure your attorney or other professionals are qualified to help you protect your assets. We see that far too many financial professionals aren’t in a position to provide guidance on and implementation of many asset protection solutions. Assess the asset protection expertise among your professionals—either the expertise they possess themselves or the resources they have access to via their professional networks of other experts. 

CONCLUSION 

You can’t necessarily stop someone from suing you. But you can take steps that will make it harder for litigants to collect money from you unjustly—and maybe even prevent those litigants from coming after you in the first place. 

When you think about how hard you’ve worked to grow your assets, we think you’ll agree that it makes sense to put strategies in place to protect them too. 

Fidato Wealth LLC is a Registered Investment Adviser. This brochure is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Fidato Wealth LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Fidato Wealth LLC unless a client service agreement is in place. Copyright 2018 by AES Nation, LLC. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are notified that any review, copying, distribution or use of this transmission is strictly prohibited. If you have received this transmission in error, please (i) notify the sender immediately by e-mail or by telephone and (ii) destroy all copies of this message. Please note that trading instructions through email, fax or voicemail will not be taken, as your identity and timely retrieval of instructions cannot be guaranteed.  If you do not wish to receive marketing emails from this sender, please send an email to sayhello@fidatowealth.com.

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Big Wealth Mistakes the Super Rich Don’t Make

 No one is perfect—not even the smartest or most famous among us. But some people veer closer to perfection than others. 

Take the self-made Super Rich—a group we define as those with a net worth of $500 million or more that they earned through efforts such as starting a business. These extremely wealthy individuals aren’t immune to making mistakes with their wealth. But we find that they do tend to avoid certain crucial errors that might otherwise impact their bottom lines and financial futures. What’s more, these are the same mistakes that can trip up investors and families at just about any level of wealth. 

The message: Sidestepping errors consistently can be just as important as making a lot of winning moves. You can potentially help yourself and your bottom line by learning what the Super Rich don’t do with their wealth! 

With that in mind, here are three of the biggest financial blunders that the Super Rich make a point to watch out for so they can avoid them. 

1. Losing sight of goals 

The Super Rich are generally very skilled at developing and spelling out their goals and even determining their deeper philosophies and beliefs about wealth and values. They might, for example, craft a family vision statement about the family’s optimal outcomes and the reasons (both practical and psychological) for wanting them. Then they create a mission statement and a plan with the steps to take to realize that mission. 

From there, all decisions about wealth are made only after considering the family’s vision, values and action plan. Any moves or changes should reflect those underlying factors. By having systems in place to never lose sight of their key goals and the factors underlying those goals, the Super Rich do a superior job of not chasing hot investments or “opportunities” that don’t amount to anything. 

That doesn’t mean the Super Rich are rigid and inflexible when it comes to their wealth planning. When goals change significantly enough, they make adjustments. 

The big lesson: Be very clear about what you want to accomplish. While it is important to be flexible, any decision to make adjustments or large shifts in strategy should be deliberate and carefully considered. Likewise, your decisions should certainly not be the result of a lack of guidelines for making smart decisions or because you’ve discovered a “shiny and new” investment product that has nothing to do with your financial goals, values and philosophy. 

2. Working with professionals who are subpar—or worse! 

The Super Rich know better than most that there are far too many “professionals” who are actually pretenders (who have good intentions but lack necessary skills), predators (who want to steal from them), or exploiters (who promote overly aggressive solutions). 

That’s why they take specific steps to help confirm they are working with consummate professionals: 

Look for leading authorities. The objective is to work with recognized experts—such as industry thought leaders. 

Rely on referrals. The most consistently effective method is to garner referrals from high-quality professionals they are currently engaging. 

Pay for quality. While the Super Rich make a concerted effort to minimize costs, as we all do, they don’t forgo desired results simply because pursuing those results might require them to spend some money. 

The big lesson: By turning to leading authorities—thought leaders—and soliciting referrals from high-caliber professionals you already know and trust, you can potentially greatly increase your chances of working with truly skilled professionals. 

3. Failing to get second opinions and do stress tests. 

Remember “Trust, but verify”—the phrase made famous by Ronald Reagan when talking about the Soviet Union? The Super Rich take that message to heart. They are fully aware that even the top professionals they tend to hire can make mistakes. They also know that changes in their lives or the world at large can impact how a solution they have in place will behave. 

Therefore, the Super Rich rely on second opinions and stress testing. 

Ideally, a second opinion occurs before action is taken. Example: Say you’re considering a particular tax mitigation strategy. You might get a second opinion from another noted leading tax authority to be certain about the validity and viability of the strategy. Second opinions are commonly sought whenever there is any question or any sense of uncertainty, but really, they can be done at any time. 

Stress testing is typically done when the Super Rich want to evaluate an existing strategy that’s already in place. It is a check to see whether what they implemented in the past remains (and is likely to continue to remain) both viable and valid, that things are working as predicted. Stress testing is like an annual medical checkup. There may not be anything wrong, but it is a very good way to catch a problem before that problem becomes severe. 

The big lesson: No matter your level of wealth, getting a second opinion when you are unsure or uncomfortable about a strategy or idea or product is usually worthwhile. Similarly, periodically stress testing your overall wealth plan or aspects of it can enable you to avoid problems now or down the road. 

ADOPT BEST PRACTICES 

By and large, the self-made Super Rich have proven that they know what to do—and what not to do—in order to create, grow and maintain sizable wealth. By avoiding major slipups on your own path to wealth creation, you can potentially encounter fewer financial potholes along the way. 

Fidato Wealth LLC is a Registered Investment Adviser. This brochure is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Fidato Wealth LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Fidato Wealth LLC unless a client service agreement is in place. Copyright 2018 by AES Nation, LLC. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are notified that any review, copying, distribution or use of this transmission is strictly prohibited. If you have received this transmission in error, please (i) notify the sender immediately by e-mail or by telephone and (ii) destroy all copies of this message. Please note that trading instructions through email, fax or voicemail will not be taken, as your identity and timely retrieval of instructions cannot be guaranteed.  If you do not wish to receive marketing emails from this sender, please send an email to sayhello@fidatowealth.com.

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Working With the Right Advisor

 These days, too many successful, wealthy individuals and families are simply not getting the advice that’s most appropriate to help them achieve their key financial goals. 

There are a number of reasons for this. But one main culprit is that, overall, there are a relatively small number of financial advisors we would describe as extremely talented and deeply caring professionals. 

So, it’s a good time to ask yourself: How good is the financial advice I’m getting these days? 

FOUR TYPES OF ADVISORS 

To make smart decisions about your wealth, you want to be sure you’re working with true experts. That means professionals who are both committed to your well-being and best interests, and extremely technically capable in investments and advanced planning. These are advisors we call consummate professionals. 

Unfortunately, there are three other types of advisors operating today—and we strongly suggest you steer clear of them! 

Pretenders want to do a very good job. They have great intentions. The problem: They lack the knowledge and capabilities to do so. Pretenders simply aren’t familiar with many of the more advanced and sophisticated wealth-building and wealth-protecting solutions you may need to pursue your goals. Advisors who are Pretenders are not bad people. To the contrary, they tend to be intelligent, hardworking and well-meaning. They want to do what is best for their clients, but from an objective vantage point, they are just not capable. Their earnest hard work does not change the fact that a great many of them probably are not able to provide you with the high-level, sophisticated tools, strategies and products that are almost always necessary to become meaningfully wealthier, and they probably aren’t adept at the strategies that are so critical to protecting your wealth. 

Exploiters are often technically adept—highly skilled in advanced financial strategies. The problem: The financial and legal strategies they often turn to are technically legal—but highly questionable. Thus, there is often a good possibility that the strategies they advocate will blow up on you—often years after you’ve taken their advice. Put simply, Exploiters are not looking out for your best interests. 

Predators are criminals. Their objective is to separate you from your wealth using cunning, guile and duplicity. Predators may or may not be technically sophisticated. However, they’re superbly capable of being manipulative and building rapport and trust. 

The key differences among the four types of professionals are summarized in this chart. 

KEY DIFFERENCES 

Clearly, you want a consummate professional on your side—and there are a few steps to help you gain greater confidence that you are working with one. 

The way that most of the affluent and the accomplished find exceptional financial advisors is via introductions from professionals they work with. Example: If you need an exceptional money manager, your accountant may know trusted experts he or she can introduce you to. Or if you have an estate tax issue for which life insurance is the best solution, your trusts and estates lawyer likely knows leading life insurance agents. 

Going to professionals who have proven themselves to you can be a very powerful way to find other consummate professionals. When accountants or lawyers refer you to a financial advisor, they are putting their reputation and professional judgment on the line. This is not something they are likely to do unless they feel the financial advisor is a consummate professional. 

Another consideration is whether the financial advisor is a thought leader. That is, he or she is recognized as a leading authority by other professionals, the wealthy and successful, and even competitors. By identifying true thought leaders, you increase the likelihood of working with some of the most erudite professionals in their fields. 

NEXT STEPS 

Are you working with a consummate professional today? We hope so. If your advisor focuses on aligning your wealth with your key financial values and goals—and does so with the help of advanced solutions and a team of experts—it’s likely that you are! 

One of the best ways to deal with a situation where you’re just “not completely sure” or you “feel a little uncertain” is to conduct a stress test. This is a process of critically evaluating key aspects of your current financial situation and how they are being managed. Or it may involve carefully assessing a particular strategy or product you are considering and “putting it through its paces” before deciding whether to move ahead. 

Stress testing gives you the opportunity to correct mistakes or use solutions and products that can do a lot more to help you accomplish your goals. Simply put, stress testing often makes a lot of sense if you want to avoid financial advisors who are Pretenders, Predators or Exploiters. 

Fidato Wealth LLC is a Registered Investment Adviser. This brochure is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Fidato Wealth LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Fidato Wealth LLC unless a client service agreement is in place. Copyright 2018 by AES Nation, LLC. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are notified that any review, copying, distribution or use of this transmission is strictly prohibited. If you have received this transmission in error, please (i) notify the sender immediately by e-mail or by telephone and (ii) destroy all copies of this message. Please note that trading instructions through email, fax or voicemail will not be taken, as your identity and timely retrieval of instructions cannot be guaranteed.  If you do not wish to receive marketing emails from this sender, please send an email to sayhello@fidatowealth.com.

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Fidato Wealth Announces Two-Night Retirement Planning Course

To further their commitment to provide objective financial education to Northeast Ohio area residents, Fidato Wealth, an independently owned and operated fiduciary financial advisory firm located in Middleburg Heights, announced a continuing education course, scheduled to begin later this month. The interactive session, titled Retirement Planning Today®, will be taught over two nights, with sessions at Strongsville at Ehrnfelt Recreation and Senior Center on Tuesday, March 1 and March 8 from 6:00 p.m. to 8:00 p.m. Fidato Wealth founder and CEO, Tony D’Amico, CFP®, will lead the two-part course, which is sponsored by Lorain County Community College’s Center for LifeLong Learning.

5 Ways Advisors Can Team Up With Estate Planners

Clients often have complex estate planning needs that go behind a financial advisor’s expertise. That’s why some advisors are teaming up with estate planning experts to improve the level of service. “Our goal is to provide comprehensive, trusted, ongoing wealth management to our clients and part of that means that we refer them to outside professionals in areas of financial planning that are not our expertise to ensure their needs are being properly addressed,” in “5 Ways Advisors Can Team Up With Estate Planners” in Barron’s. Beyers is a senior wealth advisor at Fidato Wealth, who works closely with estate planning attorneys to meet their clients’ needs.

What is Wealth Planning, Really?

It can be all too easy to focus on just one aspect of your financial life—and in doing so, miss opportunities as well as incur unnecessary risk. 

That’s where wealth planning comes in. Wealth planning is all about examining your full financial picture—not simply investments, although they’re included, but also your advanced needs. These might include wealth protection, tax mitigation, wealth transfer (also known as estate planning) and charitable giving. 

Armed with a full view of your situation and goals, you can set out to consider and examine a wide variety of financial and legal strategies that might be good options for you. 

Here’s a look at some key aspects of wealth planning, and why they can be so important to affluent families looking to make smart financial decisions. 

CRITICAL TOOLS AND TECHNIQUES 

The basics of wealth planning include legal strategies and financial products that are readily recognized and generally appropriate for most wealthy families. For example: 

Trusts. In many ways, trusts are cornerstone solutions for many successful individuals and families. A trust is nothing more than a means of transferring property using a third party—the trust. Specifically, a trust lets you transfer title of your assets to trustees for the benefit of the people you want to take care of (your designated beneficiaries). The trustee will carry out your wishes on behalf of your beneficiaries. 

1. Trusts can be flexible wealth planning tools. You can use them in all sorts of ways to transfer your wealth and determine how it is to be deployed. Trusts also can prove to be very useful in shielding your assets from plaintiffs and creditors. Depending on the kind of trust, there are different tax consequences. For example, a trust could enable you to sell appreciated assets without paying any taxes on the increase in the value of those assets from the time you acquired them. 

2. Partnerships. As with trusts, there are various types of partnerships. They can determine how the partners address ownership issues, and they have varying tax benefits. For example, within the business world, disharmony among family members or unrelated business partners can mean a higher tax bill if the owners are forced to divide assets among the partnership’s members. Through the use of certain partnership structures, business owners can divide their companies’ assets in ways that eliminate taxes. 

3. Life insurance. One area that has captured the interest of the affluent is the use of life insurance policies to help pay estate taxes. While life insurance can cover estate tax liabilities, the estate taxes will still need to be paid. Options such as extensions and loans to pay estate taxes can be very useful. However, these approaches can be problematic, especially if the situation involves extensive family businesses and significant nonliquid assets. 

For some, life insurance is a significant component of their overall approach to paying estate taxes. By using life insurance in estate planning, they can more effectively orchestrate the transfer of assets and better protect the family’s wealth (and their legacy for future generations). 

SEVEN IDEALS 

But effective wealth planning isn’t exclusively about technical solutions and expertise. Any wealth planner you enlist for help or guidance should adhere to seven ideals, all of which work together and should be treated as prerequisites in any situation: 

Flexibility. Effective wealth planning is able to change and adapt to your evolving circumstances, as well as to shifts in the financial and legal environments. Successful elite wealth planners are flexible, accommodating, and capable of analyzing a range of anticipated scenarios. 

Discretion. A high degree of discretion is a requirement for any professional working with the wealthy. As it relates to wealth planning, discretion regarding specific legal strategies or financial products can help avoid unwanted attention, unnecessary levels of questioning and retroactive changes to rules. 

Transparency. In many situations, neither you nor a wealth planner would benefit from sharing the intricacies of a sophisticated or customized legal or financial solution. Nonetheless, it is important for each solution to be as transparent as possible and open to scrutiny by appropriate authorities. 

Cohesiveness. While the legal strategies and financial products of wealth planning can be employed on a stand-alone basis, a certain degree of integration and coordination should inform all wealth planning. This can help ensure that your goals and objectives remain the focus of all efforts—and potentially enable various legal strategies and financial products to work in concert with each other for better outcomes. 

Risk sensitivity. The spectrum of wealth planning solutions ranges from the plain vanilla to the truly exotic. Without stepping over any legal boundaries, there is still ample room to be creative. It is therefore critical that you and your other trusted advisors understand the level of assertiveness associated with a particular solution and consider it in the context of your capacity for taking risk. 

Cost-effectiveness. There are times when the cost of a possible solution is much greater than the benefits it is likely to deliver. That’s when more mainstream solutions may be sufficient. Smart wealth planning will carefully weigh the benefits of a recommended course of action against both its financial and psychological costs. 

Legitimacy. Wealth planning should never incorporate tools or techniques that are—or may be perceived to be—illegal or even unethical. There’s no reason to cross the line. 

Fidato Wealth LLC is a Registered Investment Adviser. This brochure is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Fidato Wealth LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Fidato Wealth LLC unless a client service agreement is in place. Copyright 2018 by AES Nation, LLC. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are notified that any review, copying, distribution or use of this transmission is strictly prohibited. If you have received this transmission in error, please (i) notify the sender immediately by e-mail or by telephone and (ii) destroy all copies of this message. Please note that trading instructions through email, fax or voicemail will not be taken, as your identity and timely retrieval of instructions cannot be guaranteed.  If you do not wish to receive marketing emails from this sender, please send an email to sayhello@fidatowealth.com.

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Feeling Philanthropic? A Charitable Planning Primer

 Do you want to have a major impact on a charity or cause that means a great deal to you? Do you want to do well financially by doing good for others in need? If so, you’ve got plenty of company. One top financial issue we hear about from today’s individuals and families is charitable giving—how to do it well, and how to do it better. 

We all know the best results usually come from the best plans. That also holds true when it comes to philanthropy. Charitable planning is the process of making a significant charitable gift that is part of a broader financial or estate plan. 

Smart giving is usually best accomplished as part of your overall financial situation. By considering the various assets you have, you can plot out a path to results that are very worthwhile to all parties involved—including you, your family, your business (if you own one) and the charitable organization. To get those results, charitable planning is often coordinated with estate or income tax planning. 

There are many ways to accomplish charitable giving. Some examples include: 

1. Will bequest. Through a will bequest, you leave a charitable gift in your will, and the gift does not go to the charity until the will is probated. A will bequest meets the personal needs of many people. Bequests are convenient because the assets are still available to you during your lifetime. Your estate is also able to take an estate tax deduction for the value of the charitable bequest. 

2. Private foundation. This is a private, nonprofit organization that receives most of its contributions from a single wealthy individual or family (usually very wealthy). With a private foundation, a minimum amount of the foundation’s assets must be distributed annually. 

3. Donor-advised fund (DAF). Think of DAFs as charities that invest in pooled investment vehicles similar to mutual funds. What you donate earns a federal income tax deduction for the entire gift, because the DAF is technically a nonprofit. You can then, at your own pace, pinpoint certain charities and decide how much to give to each one. 

4. Charitable gift of life insurance. This approach to planned giving uses a traditional financial tool—life insurance—in an innovative way. As the donor, you designate a charity as the owner of your life insurance policy. Generally, you can take a tax deduction for the premiums and create a significant charitable gift. 

5. Charitable trust. For many people with wealth and strong charitable intent, charitable trusts are extremely attractive planned gifts. With a charitable remainder trust, the benefit to charity is delayed because income from the trust is reserved for you (as the donor) or some other person you specify. As part of the gift, the trust provides income for you for your lifetime or for a set number of years. Once the trust is terminated, one or more charities chosen by you will receive the assets that were held in the trust. With another type of trust, a charitable lead trust, you transfer assets to the trust for life (or a specific number of years), and the trust’s income is paid to your charity of choice. When the trust expires, the assets in the trust are either returned to you (or your estate) or passed on to heirs you designate. 

6. Pooled income fund. A pooled income fund is akin to a mutual fund. The major difference is that the pooled fund is specifically for donors who give to only one charity. Donors contribute securities, cash or other acceptable assets to the pooled income fund, and the charity manages the assets in the fund. An income tax deduction is received for the actuarially determined value of the gift passing on to charity. Pooled income funds are used to help eliminate capital gains taxes for gifts of appreciated assets. Estate tax liability can also be reduced. 

CHARITY FIRST 

While charitable gifts can produce substantial benefits for donors, it is very important to remember that charity comes first in the equation. If tax mitigation is your only concern or your primary concern, other wealth management strategies separate from planned giving are likely to give you better results. 

The upshot: If you don’t sincerely care about meaningfully supporting any charities or causes, charitable gifts are probably not for you. If certain charities and causes are dear to you, however, philanthropy can be a very effective way for you to do something truly worthwhile for others while doing well for yourself financially. 

THE RIGHT RESOURCES TO TAP 

Charitable planning is often facilitated by an array of professionals, including many working within charitable organizations. This is mainly due to practicality: There can be many moving parts to coordinating a giving effort because of the multiple parties involved—donors, charitable organizations—and the multiple goals that possibly are being pursued (charitable impact, tax mitigation, estate tax reduction, family legacy development and so on). 

Taking a do-it-yourself approach to charitable planning and giving is possible—but the probability that you’ll miss something important that could impact your ultimate results can be very, very high. 

The good news is that there are many high-caliber wealth managers, philanthropic advisors, private-client lawyers and accountants who can be very useful in helping you evaluate whether charitable gifts make sense for you—and which options may be ideal for your situation. The expertise of these professionals is especially valuable in helping you implement your giving strategy. 

 

Fidato Wealth LLC is a Registered Investment Adviser. This brochure is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Fidato Wealth LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Fidato Wealth LLC unless a client service agreement is in place. Copyright 2018 by AES Nation, LLC. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are notified that any review, copying, distribution or use of this transmission is strictly prohibited. If you have received this transmission in error, please (i) notify the sender immediately by e-mail or by telephone and (ii) destroy all copies of this message. Please note that trading instructions through email, fax or voicemail will not be taken, as your identity and timely retrieval of instructions cannot be guaranteed.  If you do not wish to receive marketing emails from this sender, please send an email to sayhello@fidatowealth.com.

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Pivoting to High-Net-Worth Clients Is No Easy Task

Lots of advisors want to reposition their firm to work with high-net-worth clients or even start a new one aimed at households with deeper pockets, but that’s often easier said than done. Tony D’Amico was quoted in this article in WealthManagement.com, “Pivoting to High-Net-Worth Clients Is No Easy Task,” on how he helped his clients find the support that best fit their needs.

Fidato Wealth Thanks Northeast Ohio Residents for their Donations to Shoes and Clothes for Kids Charity

Fidato Wealth, an independent, fee-based financial advisory firm providing comprehensive financial planning and wealth management for successful families, individuals and professionals, once again teamed up with Shoes and Clothes for Kids (SC4K), a local charity who improves K-8 school attendance by eliminating lack of appropriate clothing, shoes, and school supplies as barriers. Over the past four years, with the exception of 2020, the firm served as a drop-off location for items like socks, winter hats, and gloves to be distributed to local area school children over the holidays. However, in this time of the pandemic, they chose to help in a different way and hosted a virtual giving drive, #SOCKSINTHECITY.