Navigate Your Financial Life Through Divorce
Divorce or separation is not only emotionally challenging for you and your family, but it also impacts many key areas of your financial life, including maintaining your lifestyle and your ability to reach your long-term financial goals. We’ll not only help you find answers to important financial questions you may have about your assets and your future, we’ll also empower you with the tools and planning skills to make suitable and sustainable choices when circumstances may leave you feeling out of control. From healthcare to insurance planning to retirement and estate planning strategies, our team has the experience to help guide you toward the next phase of your life, at a pace that is comfortable for you.
STEP 1: DISCOVERY CONVERSATIONS
We'll conduct an in-depth meeting to review and document our client's financial assets, liabilities and ongoing spending needs and goals. This includes collecting investment statements, tax returns, wills, trusts and insurance for further analysis post meeting. This information forms the detailed personal “Total Client Profile.”
STEP 2: INFORMATION, ORGANIZATION AND ANALYSIS
At our client's request, we can work with their attorney, CPA or lifestyle analyst to compile historical income and spending data based on categories they have defined. We'll identify appropriate firm-approved software for ongoing data consolidation and analysis and assist the client in setting this up. This assessment can give us consolidated spending and income reports and real-time reporting of all financial activity going forward.
STEP 3: THE INVESTMENT PLAN*
Using our assessment of the data we’ve gathered and organized during our discovery conversations, we’ll create a customized investment plan. Our plan generates a detailed financial report that includes:
- Net worth summary
- Asset allocation
- Expected income and spending
- Detailed cash flow model
- Projected success/ability to fund lifestyle
- Multiple “What If” scenarios to determine success parameters
- Will, trust and insurance document review by in-house experts
Your report is based on various assumptions including financial information, personal preferences and other information provided by the client. The report details the assumptions upon which the plan is based. Important: The projections and other information generated by our report regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.
*IMPORTANT: The projections or other information generated by [name of investment analysis tool] regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time.
Envision methodology: Based on accepted statistical methods, the Envision tool uses a simulation model to test your Ideal, Acceptable and Recommended Investment Plans. The simulation model uses assumptions about inflation, financial market returns and the relationships among these variables. These assumptions were derived from analysis of historical data. Using Monte Carlo simulation, the Envision tool simulates 1,000 different potential outcomes over a lifetime of investing varying historical risk, return, and correlation amongst the assets. Some of these scenarios will assume strong financial market returns, similar to the best periods of history for investors. Others will be similar to the worst periods in investing history. Most scenarios will fall somewhere in between. Elements of the Envision presentations and simulation results are under license from Wealthcare Capital Management LLC. © 2003-2018 Wealthcare Capital Management LLC. All Rights Reserved. Wealthcare Capital Management LLC is a separate entity and is not directly affiliated with Wells Fargo Advisors.
**Trust services available through banking and trust affiliates in addition to non-affiliated companies of Wells Fargo Advisors. Insurance products are available through non-bank insurance agency affiliates of Wells Fargo & Company and are underwritten by non-affiliated Insurance Companies. Not available in all states. Rudin & Rubin Financial Group of Wells Fargo Advisors and Wells Fargo Advisors and its affiliates do not provide legal or tax advice. Any estate plan needs to be prepared and reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.