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Client 1: A (Allison – not her real name) -- not happy about "going it alone" in her financial life.
Allison lost her husband and best friend several years ago. Her husband took care of all their financial concerns. His unexpected death left Allison confused and worried about her financial future.
Allison began to work closely with Eve and her team of experts to:
- draft new estate documents that expressed her life wishes and minimized taxes in an appropriate fashion
- pick the correct 403b plan through work that would be the most efficient (lowest in cost) and be consistent with her revamped, investment portfolio
- determine when she could retire, and what kinds of financial goals she could fund to the end of her life
- work on gifting strategies toward her children and grandchildren
- think more creatively about volunteer activities she might pursue after retirement
Here’s what Allison had to say about her experience:
"Before I met Eve, I didn't have much experience with financial matters. I didn't know much about IRA's, 401k's, or CD's, and I certainly didn't enjoy thinking about my finances. To me, the only money that seemed real was what was in my checking account. So, when Eve sat down to do a financial roadmap with me, I was a little skeptical that I would find it useful. But I was wrong. The roadmap helped me to get a good sense of my short-term and long-term goals and to alleviate a lot of my financial worries. After creating the roadmap, Eve has been extremely helpful in implementing it. She's helped me to reorganize my portfolio, enhance my insurance coverage, and finalize my will and related documents. Most importantly, she's given me a sense of comfort that I'm in good hands. I've felt very comfortable working with Eve to put my financial plan in place and I look forward to continuing to work with her for years to come in the future." A.G., New Jersey
Client 2: B (Burton) and S (Sheila) – not their real names -- 2nd marriage, uncoordinated financial picture.
Burton and Sheila both were married previously and brought younger children into their new, blended family. Before they began working with Eve and her team, they:
- had a hodge-podge of investments (including expensive, ill-suited annuities) that were hampering their abilities to meet their long-term goals and did not reflect their risk appetite (or lack thereof)
- had poor insurance coverage -- putting their new, blended family at risk
- had few strategies in place to cover college education for their children
- were missing key estate documents that expressed their inheritance intentions and
- had options through work, but no clear strategy re: the appropriate timing (re: taxes and investment projections) for selling them.
After working with us, Burton and Sheila:
- have a coherent, stream-lined investment portfolio which brought more to the bottom line by lowering their underlying expense ratios
- covered gaps in their estate and insurance planning to avoid any “surprises” that could torpedo their plan
- education funding and loan structures that make sense, given their cash-flow situation
- a schedule for liquidating options at work that made sense in terms of cash flow needs and tax impact
- know “where they’re headed” in terms of their long-term financial goals
Here’s what Burton and Sheila had to say about working with us:
"We came to Kaplan Financial Advisors with a tangled and confusing financial status. Having both been through separate divorces, we needed to combine our assets and sort out our financial picture to make sure we were set for the future. We knew enough to know we had gaps, in investments, insurance, education funding and other areas, but we were unable to figure out how to sort through the pieces ourselves. Eve spent quite a bit of time with us, so she could see the big picture--and help us understand it. She helped guide us through a process of figuring out our specific goals and then mapped out a plan so we could achieve those goals--which was something we could never have done without her. In addition, Eve would sometimes call in other experts in specific areas where she felt they could offer sound advice that augmented or expanded on her knowledge. Without Eve's help, we would have been wandering in the dark, and we can now see that we had been exposed to several potential pitfalls that Eve brought to our attention and helped us avoid. Today, we are much more confident in making major financial decisions, because we have a clearer picture of where we are, where we want to go, and how to get there. Eve is diligent and exacting, and always attentive; she makes us feel like we are her only clients. We would happily recommend Kaplan Financial Advisors to anyone who needs objective, unbiased financial planning, without the bias of financial product sales. She certainly made a difference in our lives." B.W. and S.W., New Jersey
Client 3: Nancy (not her real name) -- dual citizen with cross-border holdings
Nancy lost her husband several years ago. She contacted me after reading my monthly financial planning column in The Independent Press. When we met, Nancy:
- had investments at many institutions
- was unclear about what she owned, if it was worthwhile holding and how to tap these investments for her daily living needs.
- was unclear about how much she was spending each month - and how much she should be spending.
- was fearful about making large financial decisions without professional guidance.
- didn't want to work with "sales people" who would be pushing products at her to solve her problems.
Here's what Nancy said about working with us:
"I am a foreign national who enjoys life here in the US. Four years ago I became a widow and was immediately faced with a dizzying array of both complicated and unfamiliar paperwork. When there were financial papers related to my foreign finances, as well as my US accounts that had to be taken care of, Eve's participation gave me the realization that I didn't have to go it alone. I first learned about Eve through the local newspaper and over the years have come to realize that I hit the "financial advisor jackpot." During this time she not only planned my financial life but she also has projected it so I may live comfortably in my old age. In addition, her experience in living abroad has been an unexpected asset when I went to sell my house in Europe. She was aware of the many difficulties that had to be overcome as I went through this process and was able to bring in other experts to assist me. Eve was also able to look at my xx insurance and make intelligent suggestions about what I should have in that area. I feel very comfortable recommending her to anyone who is looking for a professional financial advisor who also exhibits the human touch." B.N., New Jersey.
Client 4: T (Tracy) and C (Carl) – not their real names -- school teachers who dedicated their professional lives to helping others.
Tracy and Carl came for financial counseling and a financial plan. When we first met, they:
- had a number of loans cutting into their cash flow
- couldn’t see if their investments were helping or hurting them and
- didn’t know if they could afford to retire soon or not
- were mired in expensive, unattractive annuities they intended to tap at retirement.
After working together on a financial plan, they:
- streamlined and improved their investments (rolling over expensive, poorly performing annuities to lower-cost, streamlined investments)
- consolidated and reduced their debt
- calculated when it would be prudent to retire fully
- developed a new budget to stay on track
Here’s what Tracy and Carl had to say about their experience:
"Carl and I are doing fine, thanks to your advice. We have done everything that you thought was in our best interest. We just paid for our second year of coverage on a xxx policy…and I have managed, through my personal goal setting, to pay off my new xxxx… I also paid off the $xxx college loan,…. Carl purchased his new truck and makes extra payments on it.......We have no mortgage, but the equity loan remains…Neither of us owes money on credit cards of any kind. We have a solid umbrella policy..... I collect my pension and social security and Carl continues to build beautiful things for people who appreciate his work...... We will be forever grateful for your sage advice and realize how close to the wire we were living…we did travel to see friends and spent more time than usual in leisurely activities.... You have integrity and knowledge and those will serve you well." T.M. , New Jersey
Please note: In the interest of space and time, we haven't included all the testimonials clients have written about their work with us. Please note that every client is different -- these client experiences may not be typical since everyone has unique financial circumstances.
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