Client Details
Sharon (78)

Sharon’s husband passed away five years ago. She has been supporting herself off of his Social Security income (which he deferred until age 70), plus their combined retirement savings, which they invested on their own.

Sharon is in good health and has longevity in her family. She was the “finances person” in their relationship, but valued her deceased husband’s opinion when it came to investing their money.

Client Goals

Sharon misses the ability to interact with her husband to affirm their investment decisions and wishes to offload that responsibility on a licensed financial professional.

She also would like a second opinion on her asset level vs. income needs. Her daughter, Michelle, is concerned about the “what ifs.” What if Mom becomes incapacitated and can’t make decisions for herself? What if she shows diminished capacity and can’t make sound judgments with her money? What if Sharon passes away? How will Michelle know what to do when handling her mother’s estate?

The Consultation

Michelle and Sharon together schedule a consultation with Financial Services Center. They each share their concerns in regard to income planning, asset allocation decisions and end-of-life arrangements.

They receive guidance on how to prepare for the “what ifs” that Sharon may face, as well as get affirmation that her current income plan is sufficient for her income needs.

Sharon recognizes the importance of having a trusted financial professional after coming to understand she forgot to take her entire Required Minimum Distribution from her IRAs last year.

The Plan

Michelle’s and Sharon’s first order of business is putting multiple legal documents into place. Sharon arranges for Michelle to have a Durable Power of Attorney prepared for Michelle in the event Sharon cannot make sound decisions with her money. They also obtain an Advanced Medical Directive, spelling out Sharon’s treatment wishes should she be unable to communicate them to healthcare workers.

Sharon decides it is time to employ the services of a licensed financial professional with whom she can make investment decisions with, lean on when she has questions about her investments and their performance and who will keep up with the Required Minimum Distributions on annual basis. She simplifies her life by consolidating her investment monies with Financial Services Center.

The Result

Sharon and Michelle feel relieved. Michelle knows that her mother will receive the professional assistance she needs and Michelle will know who to go to in the event her mother is no longer able to make financial decisions for herself.

Sharon has confidence in her future knowing that she once again has someone in whom to confide and call when the need arises.

Note: The above case study is hypothetical and does not involve an actual Financial Services Center client. No part of the content should be construed by a client or a prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction.

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