Financial Planning has become a “popular expression” in the financial world. It seems there are a myriad of definitions surrounding such a complex concept. At Ramey Financial Services, we endeavor to utilize a holistic approach to Financial Planning that will convert your personal goals and objectives into an actionable strategic structure.
With over 30 years assisting clients reach the goals and objectives, we would like to believe with our experience, there are few financial situations that we have not visited with clients. When it comes to economic and political environments adding to family dynamics, each client’s situation is reviewed based on conservative risk-based planning philosophies. Our process includes but is not limited to the following:

Retirement Planning and Analysis:

Over the years we have realized many people do not review their retirement plan options on a regular basis. Maximizing your employer-sponsored retirement plan as well as your personal Individual Retirement Accounts (IRA’s) is a major part of the retirement planning process. Over the years, many Americans find their retirement plan assets grow to be the number one asset in their portfolio. Determining goals and objectives for retirement and then investing/savings towards those goals are one of the most important (often neglected) retirement planning processes. We offer specialized services to help you plan your Retirement Planning Strategies and manage those strategies before and during retirement.

Among some of these specialized services provided are capital sufficiency needs:
Simple internet searches will provide a plethora of studies and articles about the dearth of savings and retirement plan assets we collectively have saved to reach our retirement goals and objectives. Coupling for those in the public sector, many of the largest retirement plans have been reported to be severely underfunded. Planning for the capital requirements needed is the vanguard of any financial planning process. After all, Einstein was reported to have declared compound interest to be “the most powerful force in the universe.”

Estate Planning:

We will work with your tax and legal counselors to help coordinate a comprehensive plan to help preserve your estate for your intended heirs. Reducing or potentially eliminating estate taxes and probate cost are just one goal of estate planning. “Special Needs” planning for children and family members are complex issues and we will bring a team of specialist working together with your tax and legal counselors to develop a goals-based plan.

Insurance Planning:

Insurance planning was a simple concept – historically it seems one would purchase a policy that would replace or pay off the “bills” or the “mortgage.” No longer is this sufficient in the planning process. How do you take care of “special needs” children or family members, second marriages, divorce decrees, children being born to older parents, estate planning, and the rising cost of education are just a few of the issues we discuss in reviewing your existing insurance policies, recommending policy changes or initiating new programs. After all, mortality is an eventuality we all must face.

Long Term Care (LTC) and Long Term Care Cost Analysis:

We have separated this service from Insurance Planning due to its complexity. From the “U.S. Department of Health and Human Services, “Many people think the phrase ‘long-term care’ refers to an insurance policy. While insurance may be part of your strategy, long-term care encompasses everything from long-term services and supports and finances, to where you will live and how you will navigate the myriad of legal, family, and social dynamics along the way.” It is clear from their website, LTC is a complex issue. “Recent research suggests that most Americans turning 65 will need long-term care.” (https://longtermcare.acl.gov/the-basics).

Coupling the complexities of LTC, many insurance companies have left the industry or have been forced to liquidate their portfolios. Simple internet searches provide an array of stories surrounding these issues. We encompass and extensive search to find highly rated companies with long-term track records of not only providing benefits and financial stability, but long-term track records of strong client support when the policies are utilized.

Educational Funding:

The cost of funding a college education seemingly has exploded over the past few years. College loan debt is now over 1.2 Trillion dollars and is the second highest level of consumer debt – seconded only to mortgages. How to finance a college education may reach as high as 120 thousand dollars for a four-year education at some colleges and universities in the U.S. We will recommend investment and accumulation strategies to help meet your goals and objectives for your child. UTMA/UGMA, different types of College Savings Accounts, and gifting strategies are reviewed and may be utilized to reach your goals.

Investment and Advisory Services (see our Client Centered Process “CCP”):

Through our Client Centered Process, before we make any investment recommendations, we must first understand your goals, objectives, and risk tolerance. Through our Client Centered Process, we will help you Analyze and Plan, adding to this process we utilize extensive research via Standard and Poor’s – Credit Suisse – Argus and Cetera research platforms. We will then Research and Design an overall strategy – creating a Strategic and Tactical Asset allocation Model based on your personally designed Investment Policy Statement (IPS). Only then upon your approval will we start to build, based upon rigorous due diligence and investment fiduciary standards, an investment portfolio recommendation. With your approval, we will then implement the investment strategies to help you reach your goals and objectives. Our process adds a comprehensive review process covering your goals, objectives, markets, tax situations, cash flow needs, and other determined criteria based upon your Investment Policy Statement.

Via our Client Centered Process, you should expect the following discussions regarding the management of your accounts:

1. We will thoroughly explain the services provided, our process, and what you should expect from us. In addition, we will review what is expected of our clients.
   
2. Identifying the responsibilities of our firm and the client relationship is just one aspect to the relationship. A comprehensive discussion will also be held on how the accounts will be handled. There is a large difference between discretionary and non-discretionary accounts and how they operate. Moreover, limitations on investment styles may impact the types of accounts established.
   
3. Before we implement any strategies, we will thoroughly describe how we will be compensated for our services.
   
4. We will discuss any other matters needed that may outline the relationship with our firm.
   
5. Security – we will highlight how we keep your data and information safe through encryptions, password protection strategies and policies and procedures.