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The success of a financial plan comes down to one thing: its ability to help you accomplish your goals. So we plan meticulously. And the way we plan is driven by the way we work with you. Here’s how:
We go beneath the surface to truly understand you, your hopes and your concerns. This helps us create a financial plan built around you.
From portfolio management to tax planning, we take an integrated approach to helping you solve complex challenges.
You have many partners on your side, including accountants and tax attorneys. So we stay connected with them to help you achieve your goals.
There’s a tenacity that comes with strong financial planning. The ability to stay the course in pursuit of your goals, no matter what circumstances you face. We apply that rigor while continuously building our relationship with you. The result: a customized experience across every aspect of your plan.
Depending on your age, you may have flexibility on how much and from which accounts you take withdrawals from. Conventional wisdom is that you start with your taxable accounts, then switch to your tax-deferred retirement accounts, and leave your tax-free accounts for last. Additional strategies exist, but they should always be discussed closely with your tax-preparer and wealth management team to ensure they’re properly executed.
A solid financial plan will help determine the probability of living your life the way you want. It will address critical questions like whether or not you’ll have enough to retire as you’d like, if you’ll be prepared for health care needs that come with aging and how to get the most from social security.
First, you should determine what’s important to you, what it is you’d like to leave behind and explore the implications of transferring assets. There are numerous solutions that could be advantageous from a tax perspective, such as insurance with asset transferring benefits, annual gifting strategies and getting documents like wills and Power of Attorney (POA) and beneficiary designations in order.
If you thought the “stretch” provisions with your IRA would enable your heirs to take Required Minimum Distributions (RMDs) based on their life expectancy and you named a trust as a beneficiary, those rules are no longer in effect.
IRAs must now generally be depleted within a ten-year period by a designated beneficiary. You can apply other measures to provide for your heirs, but don’t make decisions like this on your own. Consult a financial advisor who can assist and guide you through your options.
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“BMO Investment Services” is a brand name used by certain employees of BMO Bank N.A. who provide advisory, brokerage, and insurance services offered through LPL Financial (LPL). Financial Advisors are investment advisor representatives of and offer securities and advisory services through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA
/SIPC). Insurance products are offered through LPL or its licensed affiliates. BMO Bank N.A. and BMO Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using BMO Investment Services, and are also employees of BMO Bank N.A. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, BMO Bank N.A or BMO Investment Services. BMO Wealth Management and BMO Investment Services are not affiliates of LPL. Securities and insurance offered through LPL or its affiliates are:
| Not Insured by FDIC or Any Other Government Agency | Not BMO Bank Guaranteed | Not BMO Bank Deposits or Obligations | May Lose Value |
|---|
The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
BMO Bank N.A. (“BMO”) provides referrals to financial professionals of BMO Investment Services who are registered representatives of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay BMO for these referrals. This creates an incentive for BMO to make these referrals, resulting in a conflict of interest. BMO is not a current client of LPL for advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
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