- Take a fresh look at your future
- Explore a full range of wealth management services
- Coordinate your financial strategies to help simplify your life
Wealth Planning
We can help you make informed decisions with confidence and stay on track with your goals, even as your needs evolve over time. Our dedicated team provides guidance on a range of investment techniques and will help develop a holistic wealth plan that aligns with your future goals.Business Transition Planning/Advisory Services
Whether you are ready to transition your business to the next generation or just want to explore what comes next, our business advisory and planning specialists can help. The specialists start by assessing and advising you on the value of your interests. Other services can include developing transfer strategies that consider potential tax implications and crafting the right transition plan that integrates needs of the business with your personal wealth management and legacy goals.Family Dynamics
Taking a proactive approach to the nonfinancial aspects of wealth, including communication, relationships and decision making, can be critical for maintaining a successful legacy across generations. Smith Crouse Griffith Wealth Management Group of Wells Fargo Advisors can help you navigate important conversations with loved ones about your estate planning goals, your expectations and your values to strengthen bonds within the family and foster future stewardship of your wealth.Investment and Asset Management
Our investment and asset management professionals can help you optimize your portfolio’s potential while addressing your unique goals, time horizon and risk tolerance. Regardless of your preferred investment style and holdings, you will have access to our deep experience, tailored solutions and diverse strategies across a range of investment sectors, traditional and alternative investments*, and specialty assets.Private Banking**
Based on your specific financial goals, from managing liquidity to leveraging your existing assets—Wells Fargo Bank can develop customized credit and cash management strategies designed to help meet your needs. Your private banker will create a personal plan that can help consolidate your accounts, streamline complexity and unlock new potential.Lending Services
Wells Fargo Bank has specialists who can work with you to develop a lending strategy that meets your specific needs, including securities-based lending, commercial lending, real estate financing and specialized lending solutions.*Alternative investments carry specific investor qualifications, which can include high income and net- worth requirements, as well as relatively high investment minimums. Available to prequalified investors only.
**Wells Fargo Bank, N.A. (“the Bank”) offers various banking, advisory, fiduciary and custody products and services, including discretionary portfolio management. Wells Fargo affiliates, including Financial Advisors of Wells Fargo Advisors, may be paid an ongoing or one-time referral fee in relation to clients referred to the Bank. In these instances, the Bank is responsible for the day-to-day management of any referred accounts.
The Wells Fargo Private Bank (The Private Bank) experience connects clients with products and services provided by Wells Fargo Bank, N.A. and/or Wells Fargo Advisors. Wells Fargo Bank, N.A. provides investment management services as part of its trust and fiduciary services, deposit products, lending products and other bank products. Wells Fargo Advisors provides investment advisory and brokerage services. 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. Wells Fargo affiliates, including Financial Advisors of Wells Fargo Advisors, may be paid an ongoing or one-time referral fee in relation to clients referred to the Bank. For Bank products and services, the Bank is responsible for the day-to-day management of any referred accounts. Eligibility for The Private Bank experience is subject to change without prior notice. Products and services may have qualification or pre-acceptance requirements that are different than the eligibility requirements for The Private Bank experience.
***Lending and other banking services available through Wells Fargo Advisors (NMLS UI 2234) are offered by banking and non-banking subsidiaries of Wells Fargo & Company, including, but not limited to Wells Fargo Bank, N.A. (NMLSR ID 399801) and Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. Certain restrictions apply. Programs, rates, terms, and conditions are subject to change without advance notice. Products are not available in all states. Wells Fargo Advisors is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act and the Arizona Department of Financial Institutions (NMLS ID 0906158). Wells Fargo Clearing Services, LLC, holds a residential mortgage broker license in Georgia and is licensed as a residential mortgage broker (license number MB2234) in Massachusetts.
**** Securities-based lending has special risks and is not appropriate for everyone. If the market value of a client’s pledged securities declines below required levels, the client may be required to pay down the line of credit or pledge additional eligible securities in order to maintain it, or the lender may require the sale of some or all of the client’s securities. For Wells Fargo Bank Priority Credit Line, Wells Fargo Advisors, on behalf of Wells Fargo Bank, N.A., will attempt to notify clients of maintenance calls but is not required to do so. For Priority Credit Line, Wells Fargo Advisors will attempt to notify clients of maintenance calls but is not required to do so. Clients are not entitled to choose which securities in their accounts are sold. The sale of their securities may cause clients to suffer adverse tax consequences. Clients should discuss the tax implications of pledging securities as collateral with their tax advisors. An increase in interest rates will affect the overall cost of borrowing. All securities and accounts are subject to eligibility requirements. Clients should read all Wells Fargo Bank Priority Credit Line and Priority Credit Line documents carefully. The proceeds from the Wells Fargo Bank Priority Credit Line may not be used to purchase or carry margin stock or pay down a margin account debit. Margin stock is defined in Regulation U and includes, principally: (1) stocks that are registered on a national securities exchange or any over-the-counter security designated for trading in the National Market System; (2) debt securities (bonds) that are convertible into a margin stock; and (3) shares of most mutual funds. The proceeds from the Priority Credit Line may not be used to purchase additional securities, pay down a margin account debit, or for insurance products offered by Wells Fargo affiliates. Securities held in a retirement account cannot be used as collateral to obtain a securities-based loan. Securities in a Wells Fargo Bank Priority Credit Line or Priority Credit Line collateral account must meet collateral eligibility requirements.
- Your investments are important. Advisory Services can help them receive the care they deserve.
- Your investments can be professionally managed or a Financial Advisor can help you manage them yourself.
- Wells Fargo Advisors programs allow flexibility to help you reach your goals.
Managing investments
A lot may be riding on your investments: retirement, children’s or grandchildren’s education, your financial legacy. Your investment plan should get the attention it deserves.Some investors enjoy managing their own plan. They are confident in their abilities and have the time to research and monitor their investments’ performance.
You’re not alone if you don’t fall into that category. Like many others, you may want to work with a professional by taking advantage of an advisory program.
Using an advisory program
You can save time and have a professional manage your investments when you use the services of an advisory program.Advisory programs generally fall into two categories. One gives another party the power to make decisions for your account’s day-to-day management. This means you can allow a portfolio manager — in some cases your Financial Advisor — to decide when to buy, sell, and hold investments without consulting you.
Your portfolio manager will make decisions based on a variety of factors:
- Your long-term objectives
- The time you have to reach your objectives
- Your risk tolerance
In the other program, you collaborate with your Financial Advisor. We will provide you with objective advice and guidance based on your needs, goals, and today’s investment environment, to help you make your own buy, sell, and hold decisions.
Fee replaces commissions
So how can an advisory account differ from a traditional brokerage account? One difference is how you pay for the services you receive. In an advisory account program, you generally pay a fee. This is often charged on a quarterly basis based on a percentage of your account’s value. In a traditional brokerage account you would pay a commission for each transaction.
Flexible range of alternatives
You can choose which advisory services program you implement. Wells Fargo Advisors offers an array of programs. You can decide what products you would like to have managed, such as mutual funds, exchange-traded funds (ETFs), stocks, bonds, and commodity-based investments.
We can discuss the programs with you and see what fits your situation – and what makes you feel more confident in helping you reach your goals.
Next steps
Decide if you would like some extra help with making your investment decisions.
Make an appointment to talk with us about advisory accounts.
The fees for advisory programs are asset-based and assessed quarterly in advance. There may be a minimum fee to maintain this type of account. Fees include advisory services, performance measurement, transaction costs, custody services, and trading. These fees do not cover the fees and expenses of any underlying exchange traded fund (ETF), closed-end funds, or mutual funds in the portfolio. Advisory accounts are not designed for excessively traded or inactive accounts and are not appropriate for all investors. Please carefully review the Wells Fargo Advisors advisory disclosure document for a full description of our services, including fees and expenses. The minimum account size for these programs is between $10,000 and $2,000,000.
Passing along your legacy to the next generation can seem like a daunting task with many tactics, roles and guidelines to consider.
At Smith Crouse Griffith Wealth Management Group of Wells Fargo Advisors, we provide access to Wells Fargo Bank Estate Services to help our clients with their trust and estate planning needs. As one of the leading national providers of estate settlement services, Wells Fargo Bank, N.A. can help you pass your legacy on to your beneficiaries.
Click to Learn More
- Insurance is valuable for employees and owners.
- Owners get to retire, too.
- You can begin planning now for retirement, selling your company, or the event of your death.
Wells Fargo Advisors provides products and services, available through your Financial Advisor, that help you manage your assets and plan for the future.
Customized products and services for business owners
We are committed to helping you maximize the success and profitability of your business. Our specialized products and services can help give your business the cash flow and support it needs to thrive.Some of the services we offer and can assist with include:
Employee benefit plans and packages
A competitive employee benefit package helps you attract and keep employees, regardless of the size of your company.Business owner life insurance
As a business owner, it’s important to consider both replacing the income your family depends on, and also providing funds to pay off business-related liabilities.Funding a buy-sell agreement
If your business has more than one owner, you need to understand the risks you may face if one of you dies unexpectedly. A buy-sell agreement sets up how ownership of the business may be transferred if one owner dies.Key person life insurance
Proceeds from this type of business insurance can help offset the loss of sales your business would experience or expenses it may incur if a key person dies.Succession planning and business exit strategies
It can be helpful to start the succession planning and exit strategy process many years in advance.- Selling a business: There are many options to consider in both the sale and how you will generate income after the sale.
- Transferring the business to a family member: There are a variety of succession planning strategies you can use to transfer the business to a family member
Next steps
- Make an appointment with us to talk about your business needs.
- Talk with your family or partners about insurance or succession planning.
- Check the beneficiary designations on your financial and investment accounts.
Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
- Generally you have four distribution choices for your qualified employer–sponsored retirement plan (QRP) assets
- Each has unique factors to keep in mind
- Know all of your options before making a decision
Decide which option is right for you
If you’re changing jobs or retiring, you’ll need to decide what to do with assets in your 401(k) or other qualified employer-sponsored retirement plan (QRP). These savings can represent a significant portion of your retirement income, so it’s important you carefully evaluate all of the options.Generally, you have four options:
- Roll the assets to an Individual Retirement Account (IRA)
- Leave the funds in your former employer’s retirement plan (if allowed)
- Move savings to your new employer’s plan (if allowed)
- Withdraw or “distribute” the money
Roll the assets to an IRA
Rolling your retirement savings to an IRA provides the following features:- Assets continue their tax-advantaged status and growth potential
- You can continue to make annual contributions, if eligible
- An IRA often gives you more investment options than are typically available in an employer’s plan
- You also may have access to investment advice
Before rolling your assets to an IRA consider the following:
- IRA fees and expenses are generally higher than those in your employer’s retirement plan
- Loans from an IRA are prohibited
- In addition to ordinary income taxes, distributions prior to age 59 1/2 may be subject to a 10% IRS additional tax
- IRAs are subject to state creditor laws
- If you own appreciated employer securities, favorable tax treatment of the net unrealized appreciation (NUA) is lost if rolled into an IRA
Leave the funds with your former employer
You may be able to leave your retirement plan savings in your former employer’s plan, assuming the plan allows and you are satisfied with the investment options. You will continue to be subject to the plan’s rules regarding investment choices, distribution options, and loan availability.Keeping assets in the plan features:
- Investments keep their tax-advantaged growth potential
- You retain the ability to leave your savings in their current investments
- You may avoid the 10% IRS additional tax on early distributiosn from the plan if you leave the company in the year you turn 55 or older (age 50 or older for certain public safety employees)
- Generally, have bankruptcy and creditor protection
- Favorable tax treatment may be available for appreciated employer securities owned in the plan
Move savings to your new employer’s plan
If you’re joining a new company, moving your retirement savings to your new employer’s plan may make sense. This may be appropriate if:- You want to keep your retirement savings in one account
- You’re satisfied with the investment choices offered by your new employer’s plan
Withdraw or “distribute” the money
Carefully consider all of the financial consequences before cashing out. The impact will vary depending on your age and tax situation. Distributions prior to age 59 1/2 may be subject to both ordinary income taxes and a 10% IRS tax penalty. If you must access the money, consider withdrawing only what you need until you can find other sources of cash.Features
- You have immediate access to your retirement savings and can use however you wish.
- Although distributions from the plan are subject to ordinary income taxes, you avoid the 10% additional tax on distributions taken if you turn:
- Age 55 or older in the year you leave your company.
- Age 50 or older in the year you stop working as a public safety employee (certain local, state or federal) — such as a police officer, firefighter, emergency medical technician, or air traffic controller — and are taking distributions from a governmental defined benefit pension or governmental defined contribution plan. Check with the plan administrator to see if you are eligible.
- If you own employer securities, a distribution may qualify for the favorable tax treatment of NUA.
- Your former employer is required to withhold 20% of your distribution for federal taxes.
- Distribution may be subject to federal, state and local taxes unless rolled over to an IRA or another employer plan within 60 days.
- Your investments lose their tax-advantaged growth potential.
- Your retirement may be delayed, or the amount you’ll have to live on later may be reduced.
- Depending on your financial situation, you may be able to access a portion of your funds while keeping the remainder saved in a retirement account. This can help lower your tax liability while continuing to help you save for your retirement. Ask your plan administrator if partial distributions are allowed.
- If you leave your company before the year you turn 55 (or age 50 for public service employees), you may owe a 10% IRS additional tax on the distribution.
What to consider if you own company stock
NUA is defined as the difference between the value at distribution of the employer security in your plan and the stock’s cost basis. The cost basis is the original purchase price paid within the plan. Assuming the security has increased in value, the difference is NUA. NUA of employer securities received as part of an eligible lump-sum distribution from an employer retirement plan qualifies for special tax treatment. In most cases, NUA will be available only for lump-sum distributions — partial distributions do not qualify.We can help educate you so you can decide which option makes the most sense for your specific situation.
Next steps
- Learn about your choices before taking a distribution
- Pay special attention to taxes, penalties and fees associated with each action
- Contact us or your tax professional if you have questions about how to proceed
Please keep in mind that rolling over your qualified employer sponsored retirement plan (QRP) assets to an IRA is just one option. Each option has advantages and disadvantages, and the one that is best depends on your individual circumstances. You should consider features such as investment options, fees and expenses and services offered. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with a QRP. We recommend you consult with your plan administrator before making any decisions regarding your retirement assets.
Wells Fargo and Company and its Affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.
- You have many options for investing.
- Investments should work together to help you accomplish your financial goals
Types of investments
Part of the investment planning process is making investment choices that fit your investment strategy. Those investments should work together to help you accomplish your financial goals. We’re dedicated to providing you a wide range of investment products and services to help you meet them.As an investor, you have many options. Common types of investments include:
- Stocks - An investment giving you partial ownership in a company based on the number of shares you purchase. Stocks tend to fluctuate more in the short term, but may perform well over time.
- Bonds - An investment that functions as a loan to a government or institution in return for regular interest payments. Bonds can provide more stability than stocks, even though bonds have historically provided lower returns than stocks.
- Exchange-traded funds (ETFs) - A basket of securities traded throughout the day — just like individual stocks — on a national stock exchange. Like mutual funds, you purchase shares of an overall fund rather than individual investments.1
- Alternative Investment Opportunities- If you are open to other avenues for growth potential, alternative investments2 such as hedge funds and private debt might provide these benefits for your investment plan: historically lower market correlation compared to traditional investments; less-extreme market cycle peaks and troughs; and access to more investment opportunities.
- Mutual funds - A fund allowing you to pool your money with others in a professionally managed portfolio. Mutual funds offer diversification through a mix of investments, such as stocks or bonds.1
- Annuities - A contract between you and an insurance company requiring the insurer to make payments to you, either immediately or in the future. You make contributions to the annuity for a guaranteed income stream.3
- Brokered certificates of deposit (CDs) - Brokered CDs are issued by banks, purchased in bulk by securities firms and sold to clients. Investors do not receive physical certificates for their brokered CDs, but instead receive a periodic account statement detailing their CD holdings.4 Brokered CDs’ market value may fluctuate over time.
- Brokered Liquid Deposit (PDF) – Brokered Liquid Deposit (BLD) is a flexible cash alternative that combines high yield with easy access to funds.
Next steps
- Understand the variety of investments available.
- Talk with us about investment choices.
2Alternative investments, such as hedge funds, funds of hedge funds, managed futures, private capital, real assets and real estate funds, are not appropriate for all investors. They are speculative, highly illiquid, and are designed for long-term investment, and not as trading vehicle. These funds carry specific investor qualifications which can include high income and net-worth requirements as well as relatively high investment minimums. The high expenses associated with alternative investments must be offset by trading profits and other income which may not be realized. Unlike mutual funds, alternative investments are not subject to some of the regulations designed to protect investors and are not required to provide the same level of disclosure as would be received from a mutual fund. They trade in diverse complex strategies that are affected in different ways and at different times by changing market conditions. Strategies may, at times, be out of market favor for considerable periods with adverse consequences for the fund and the investor. An investment in these funds involve the risks inherent in an investment in securities and can include losses associated with speculative investment practices, including hedging and leveraging through derivatives, such as futures, options, swaps, short selling, investments in non-U.S. securities, “junk” bonds and illiquid investments. The use of leverage in a portfolio varies by strategy. Leverage can significantly increase return potential but create greater risk of loss. At times, a fund may be unable to sell certain of its illiquid investments without a substantial drop in price, if at all. Other risks can include those associated with potential lack of diversification, restrictions on transferring interests, no available secondary market, complex tax structures, delays in tax reporting, valuation of securities and pricing. An investment in a fund of funds carries additional risks including asset-based fees and expenses at the fund level and indirect fees, expenses and asset-based compensation of investment funds in which these funds invest. An investor should review the private placement memorandum, subscription agreement and other related offering materials for complete information regarding terms, including all applicable fees, as well as the specific risks associated with a fund before investing.
3Variable annuities are long-term investments appropriate for retirement funding and are subject to market fluctuations and investment risk. Guarantees are based on the claims-paying ability of the issuing insurance company. Guarantees apply to minimum income from an annuity; they do not guarantee an investment return or the safety of the underlying funds.
4Generally, CDs may not be withdrawn prior to maturity. CDs are FDIC insured up to $250,000 per depositor per insured depository institution for each account ownership category. CDs may be issued by out of state institutions.
5Wells Fargo Clearing Services is not an FDIC-insured depository institution. Deposit products provided by Wells Fargo Bank, N.A., Member FDIC. Deposit insurance only protects against the failure of an insured depository institution.
- If you were sick, injured or died, would your family have the resources to achieve their goals?
- Help cover unpredictable financial risks through insurance.
- Life, disability, and long-term care insurance help cover risks that could disrupt your investment plan.
Insurance helps protect assets
You can’t avoid all risks in life. Insurance can play a key role in helping preserve your assets and achieve your financial goals.It’s all about keeping an eye on both assets and liabilities. Insurance allows you to transfer a risk from your balance sheet to an insurer’s. Find out why we recommend insurance as part of your investment plan.
A different kind of risk
When it comes to your financial goals, there are more risks to consider than just market volatility. Insurance can help protect against life-changing events. It can help ensure the financial goals you have made can continue on.We offer life, disability and long-term care insurance to help protect what matters most to you. Each type of coverage can help protect the key areas of your financial life: family, business, retirement, and legacy.
- Life Insurance - Life insurance helps protect the financial security of your family. Each type of life insurance is designed for a specific purpose. There is no “one size fits all”. We offer a wide selection of life insurance products, all from highly rated insurance companies, to help meet your specific protection needs.
Life insurance falls into two main types; term or permanent. Term insurance covers a temporary need in your life, such as until your children are in college.
Permanent insurance provides lifelong coverage. A key feature of many permanent insurance policies is the potential for it to accumulate cash value. This, added with the unique tax treatment of life insurance, can help create a source of supplemental income during retirement or provide funds for other needs such as long-term care. Permanent life insurance can also be a powerful tool when it comes to funding your legacy or charitable giving plans.
- Long-Term Care Insurance - This type of insurance can help pay for the costs of long-term care should you need it. It is important to know that Medicare does not pay the largest part of long-term care services or personal care—such as help with bathing, or for supervision often called custodial care.
Extended care planning is a key component in any retirement income plan. It can help provide a source of income tax-free funds to pay for care, helping protect your retirement savings from the rising cost of care.
- Disability Insurance - Disability insurance is designed to replace a portion of your income if you're unable to work because of a sickness or injury. Even if you could weather a temporary gap in earnings, an extended disability can be financially devastating and put your other goals, such as retirement and college planning, at risk.
How much should I have?
When it comes to the amount of coverage needed to help protect your financial goals, the “right” answer is unique to you. Factors such as your age, who depends on you, and your income and assets, should be carefully reviewed.It’s important to understand the amount may change over time and when major life events occur, making a regular review is critical.
Next Steps
- Research the costs associated with skilled nursing care, adult day care, and other services.
- Understand your annual expenses to help ensure you have the proper disability and life insurance coverage.
- Evaluate how your needs may change over time.
- Call us to see how insurance can play a role in your retirement planning.
Insurance products are offered through non-bank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
Guarantees are based on the claims-paying ability of the issuing insurance company.
- Take a fresh look at your future
- Explore a full range of wealth management services
- Coordinate your financial strategies to help simplify your life
Wealth Planning
We can help you make informed decisions with confidence and stay on track with your goals, even as your needs evolve over time. Our dedicated team provides guidance on a range of investment techniques and will help develop a holistic wealth plan that aligns with your future goals.Business Transition Planning/Advisory Services
Whether you are ready to transition your business to the next generation or just want to explore what comes next, our business advisory and planning specialists can help. The specialists start by assessing and advising you on the value of your interests. Other services can include developing transfer strategies that consider potential tax implications and crafting the right transition plan that integrates needs of the business with your personal wealth management and legacy goals.Family Dynamics
Taking a proactive approach to the nonfinancial aspects of wealth, including communication, relationships and decision making, can be critical for maintaining a successful legacy across generations. Smith Crouse Griffith Wealth Management Group of Wells Fargo Advisors can help you navigate important conversations with loved ones about your estate planning goals, your expectations and your values to strengthen bonds within the family and foster future stewardship of your wealth.Investment and Asset Management
Our investment and asset management professionals can help you optimize your portfolio’s potential while addressing your unique goals, time horizon and risk tolerance. Regardless of your preferred investment style and holdings, you will have access to our deep experience, tailored solutions and diverse strategies across a range of investment sectors, traditional and alternative investments*, and specialty assets.Private Banking**
Based on your specific financial goals, from managing liquidity to leveraging your existing assets—Wells Fargo Bank can develop customized credit and cash management strategies designed to help meet your needs. Your private banker will create a personal plan that can help consolidate your accounts, streamline complexity and unlock new potential.Lending Services
Wells Fargo Bank has specialists who can work with you to develop a lending strategy that meets your specific needs, including securities-based lending, commercial lending, real estate financing and specialized lending solutions.*Alternative investments carry specific investor qualifications, which can include high income and net- worth requirements, as well as relatively high investment minimums. Available to prequalified investors only.
**Wells Fargo Bank, N.A. (“the Bank”) offers various banking, advisory, fiduciary and custody products and services, including discretionary portfolio management. Wells Fargo affiliates, including Financial Advisors of Wells Fargo Advisors, may be paid an ongoing or one-time referral fee in relation to clients referred to the Bank. In these instances, the Bank is responsible for the day-to-day management of any referred accounts.
The Wells Fargo Private Bank (The Private Bank) experience connects clients with products and services provided by Wells Fargo Bank, N.A. and/or Wells Fargo Advisors. Wells Fargo Bank, N.A. provides investment management services as part of its trust and fiduciary services, deposit products, lending products and other bank products. Wells Fargo Advisors provides investment advisory and brokerage services. 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. Wells Fargo affiliates, including Financial Advisors of Wells Fargo Advisors, may be paid an ongoing or one-time referral fee in relation to clients referred to the Bank. For Bank products and services, the Bank is responsible for the day-to-day management of any referred accounts. Eligibility for The Private Bank experience is subject to change without prior notice. Products and services may have qualification or pre-acceptance requirements that are different than the eligibility requirements for The Private Bank experience.
***Lending and other banking services available through Wells Fargo Advisors (NMLS UI 2234) are offered by banking and non-banking subsidiaries of Wells Fargo & Company, including, but not limited to Wells Fargo Bank, N.A. (NMLSR ID 399801) and Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. Certain restrictions apply. Programs, rates, terms, and conditions are subject to change without advance notice. Products are not available in all states. Wells Fargo Advisors is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act and the Arizona Department of Financial Institutions (NMLS ID 0906158). Wells Fargo Clearing Services, LLC, holds a residential mortgage broker license in Georgia and is licensed as a residential mortgage broker (license number MB2234) in Massachusetts.
**** Securities-based lending has special risks and is not appropriate for everyone. If the market value of a client’s pledged securities declines below required levels, the client may be required to pay down the line of credit or pledge additional eligible securities in order to maintain it, or the lender may require the sale of some or all of the client’s securities. For Wells Fargo Bank Priority Credit Line, Wells Fargo Advisors, on behalf of Wells Fargo Bank, N.A., will attempt to notify clients of maintenance calls but is not required to do so. For Priority Credit Line, Wells Fargo Advisors will attempt to notify clients of maintenance calls but is not required to do so. Clients are not entitled to choose which securities in their accounts are sold. The sale of their securities may cause clients to suffer adverse tax consequences. Clients should discuss the tax implications of pledging securities as collateral with their tax advisors. An increase in interest rates will affect the overall cost of borrowing. All securities and accounts are subject to eligibility requirements. Clients should read all Wells Fargo Bank Priority Credit Line and Priority Credit Line documents carefully. The proceeds from the Wells Fargo Bank Priority Credit Line may not be used to purchase or carry margin stock or pay down a margin account debit. Margin stock is defined in Regulation U and includes, principally: (1) stocks that are registered on a national securities exchange or any over-the-counter security designated for trading in the National Market System; (2) debt securities (bonds) that are convertible into a margin stock; and (3) shares of most mutual funds. The proceeds from the Priority Credit Line may not be used to purchase additional securities, pay down a margin account debit, or for insurance products offered by Wells Fargo affiliates. Securities held in a retirement account cannot be used as collateral to obtain a securities-based loan. Securities in a Wells Fargo Bank Priority Credit Line or Priority Credit Line collateral account must meet collateral eligibility requirements.
- Your investments are important. Advisory Services can help them receive the care they deserve.
- Your investments can be professionally managed or a Financial Advisor can help you manage them yourself.
- Wells Fargo Advisors programs allow flexibility to help you reach your goals.
Managing investments
A lot may be riding on your investments: retirement, children’s or grandchildren’s education, your financial legacy. Your investment plan should get the attention it deserves.Some investors enjoy managing their own plan. They are confident in their abilities and have the time to research and monitor their investments’ performance.
You’re not alone if you don’t fall into that category. Like many others, you may want to work with a professional by taking advantage of an advisory program.
Using an advisory program
You can save time and have a professional manage your investments when you use the services of an advisory program.Advisory programs generally fall into two categories. One gives another party the power to make decisions for your account’s day-to-day management. This means you can allow a portfolio manager — in some cases your Financial Advisor — to decide when to buy, sell, and hold investments without consulting you.
Your portfolio manager will make decisions based on a variety of factors:
- Your long-term objectives
- The time you have to reach your objectives
- Your risk tolerance
In the other program, you collaborate with your Financial Advisor. We will provide you with objective advice and guidance based on your needs, goals, and today’s investment environment, to help you make your own buy, sell, and hold decisions.
Fee replaces commissions
So how can an advisory account differ from a traditional brokerage account? One difference is how you pay for the services you receive. In an advisory account program, you generally pay a fee. This is often charged on a quarterly basis based on a percentage of your account’s value. In a traditional brokerage account you would pay a commission for each transaction.
Flexible range of alternatives
You can choose which advisory services program you implement. Wells Fargo Advisors offers an array of programs. You can decide what products you would like to have managed, such as mutual funds, exchange-traded funds (ETFs), stocks, bonds, and commodity-based investments.
We can discuss the programs with you and see what fits your situation – and what makes you feel more confident in helping you reach your goals.
Next steps
Decide if you would like some extra help with making your investment decisions.
Make an appointment to talk with us about advisory accounts.
The fees for advisory programs are asset-based and assessed quarterly in advance. There may be a minimum fee to maintain this type of account. Fees include advisory services, performance measurement, transaction costs, custody services, and trading. These fees do not cover the fees and expenses of any underlying exchange traded fund (ETF), closed-end funds, or mutual funds in the portfolio. Advisory accounts are not designed for excessively traded or inactive accounts and are not appropriate for all investors. Please carefully review the Wells Fargo Advisors advisory disclosure document for a full description of our services, including fees and expenses. The minimum account size for these programs is between $10,000 and $2,000,000.
Passing along your legacy to the next generation can seem like a daunting task with many tactics, roles and guidelines to consider.
At Smith Crouse Griffith Wealth Management Group of Wells Fargo Advisors, we provide access to Wells Fargo Bank Estate Services to help our clients with their trust and estate planning needs. As one of the leading national providers of estate settlement services, Wells Fargo Bank, N.A. can help you pass your legacy on to your beneficiaries.
Click to Learn More
- Insurance is valuable for employees and owners.
- Owners get to retire, too.
- You can begin planning now for retirement, selling your company, or the event of your death.
Wells Fargo Advisors provides products and services, available through your Financial Advisor, that help you manage your assets and plan for the future.
Customized products and services for business owners
We are committed to helping you maximize the success and profitability of your business. Our specialized products and services can help give your business the cash flow and support it needs to thrive.Some of the services we offer and can assist with include:
Employee benefit plans and packages
A competitive employee benefit package helps you attract and keep employees, regardless of the size of your company.Business owner life insurance
As a business owner, it’s important to consider both replacing the income your family depends on, and also providing funds to pay off business-related liabilities.Funding a buy-sell agreement
If your business has more than one owner, you need to understand the risks you may face if one of you dies unexpectedly. A buy-sell agreement sets up how ownership of the business may be transferred if one owner dies.Key person life insurance
Proceeds from this type of business insurance can help offset the loss of sales your business would experience or expenses it may incur if a key person dies.Succession planning and business exit strategies
It can be helpful to start the succession planning and exit strategy process many years in advance.- Selling a business: There are many options to consider in both the sale and how you will generate income after the sale.
- Transferring the business to a family member: There are a variety of succession planning strategies you can use to transfer the business to a family member
Next steps
- Make an appointment with us to talk about your business needs.
- Talk with your family or partners about insurance or succession planning.
- Check the beneficiary designations on your financial and investment accounts.
Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
- Generally you have four distribution choices for your qualified employer–sponsored retirement plan (QRP) assets
- Each has unique factors to keep in mind
- Know all of your options before making a decision
Decide which option is right for you
If you’re changing jobs or retiring, you’ll need to decide what to do with assets in your 401(k) or other qualified employer-sponsored retirement plan (QRP). These savings can represent a significant portion of your retirement income, so it’s important you carefully evaluate all of the options.Generally, you have four options:
- Roll the assets to an Individual Retirement Account (IRA)
- Leave the funds in your former employer’s retirement plan (if allowed)
- Move savings to your new employer’s plan (if allowed)
- Withdraw or “distribute” the money
Roll the assets to an IRA
Rolling your retirement savings to an IRA provides the following features:- Assets continue their tax-advantaged status and growth potential
- You can continue to make annual contributions, if eligible
- An IRA often gives you more investment options than are typically available in an employer’s plan
- You also may have access to investment advice
Before rolling your assets to an IRA consider the following:
- IRA fees and expenses are generally higher than those in your employer’s retirement plan
- Loans from an IRA are prohibited
- In addition to ordinary income taxes, distributions prior to age 59 1/2 may be subject to a 10% IRS additional tax
- IRAs are subject to state creditor laws
- If you own appreciated employer securities, favorable tax treatment of the net unrealized appreciation (NUA) is lost if rolled into an IRA
Leave the funds with your former employer
You may be able to leave your retirement plan savings in your former employer’s plan, assuming the plan allows and you are satisfied with the investment options. You will continue to be subject to the plan’s rules regarding investment choices, distribution options, and loan availability.Keeping assets in the plan features:
- Investments keep their tax-advantaged growth potential
- You retain the ability to leave your savings in their current investments
- You may avoid the 10% IRS additional tax on early distributiosn from the plan if you leave the company in the year you turn 55 or older (age 50 or older for certain public safety employees)
- Generally, have bankruptcy and creditor protection
- Favorable tax treatment may be available for appreciated employer securities owned in the plan
Move savings to your new employer’s plan
If you’re joining a new company, moving your retirement savings to your new employer’s plan may make sense. This may be appropriate if:- You want to keep your retirement savings in one account
- You’re satisfied with the investment choices offered by your new employer’s plan
Withdraw or “distribute” the money
Carefully consider all of the financial consequences before cashing out. The impact will vary depending on your age and tax situation. Distributions prior to age 59 1/2 may be subject to both ordinary income taxes and a 10% IRS tax penalty. If you must access the money, consider withdrawing only what you need until you can find other sources of cash.Features
- You have immediate access to your retirement savings and can use however you wish.
- Although distributions from the plan are subject to ordinary income taxes, you avoid the 10% additional tax on distributions taken if you turn:
- Age 55 or older in the year you leave your company.
- Age 50 or older in the year you stop working as a public safety employee (certain local, state or federal) — such as a police officer, firefighter, emergency medical technician, or air traffic controller — and are taking distributions from a governmental defined benefit pension or governmental defined contribution plan. Check with the plan administrator to see if you are eligible.
- If you own employer securities, a distribution may qualify for the favorable tax treatment of NUA.
- Your former employer is required to withhold 20% of your distribution for federal taxes.
- Distribution may be subject to federal, state and local taxes unless rolled over to an IRA or another employer plan within 60 days.
- Your investments lose their tax-advantaged growth potential.
- Your retirement may be delayed, or the amount you’ll have to live on later may be reduced.
- Depending on your financial situation, you may be able to access a portion of your funds while keeping the remainder saved in a retirement account. This can help lower your tax liability while continuing to help you save for your retirement. Ask your plan administrator if partial distributions are allowed.
- If you leave your company before the year you turn 55 (or age 50 for public service employees), you may owe a 10% IRS additional tax on the distribution.
What to consider if you own company stock
NUA is defined as the difference between the value at distribution of the employer security in your plan and the stock’s cost basis. The cost basis is the original purchase price paid within the plan. Assuming the security has increased in value, the difference is NUA. NUA of employer securities received as part of an eligible lump-sum distribution from an employer retirement plan qualifies for special tax treatment. In most cases, NUA will be available only for lump-sum distributions — partial distributions do not qualify.We can help educate you so you can decide which option makes the most sense for your specific situation.
Next steps
- Learn about your choices before taking a distribution
- Pay special attention to taxes, penalties and fees associated with each action
- Contact us or your tax professional if you have questions about how to proceed
Please keep in mind that rolling over your qualified employer sponsored retirement plan (QRP) assets to an IRA is just one option. Each option has advantages and disadvantages, and the one that is best depends on your individual circumstances. You should consider features such as investment options, fees and expenses and services offered. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with a QRP. We recommend you consult with your plan administrator before making any decisions regarding your retirement assets.
Wells Fargo and Company and its Affiliates do not provide tax or legal advice. This communication cannot be relied upon to avoid tax penalties. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your tax return is filed.
- You have many options for investing.
- Investments should work together to help you accomplish your financial goals
Types of investments
Part of the investment planning process is making investment choices that fit your investment strategy. Those investments should work together to help you accomplish your financial goals. We’re dedicated to providing you a wide range of investment products and services to help you meet them.As an investor, you have many options. Common types of investments include:
- Stocks - An investment giving you partial ownership in a company based on the number of shares you purchase. Stocks tend to fluctuate more in the short term, but may perform well over time.
- Bonds - An investment that functions as a loan to a government or institution in return for regular interest payments. Bonds can provide more stability than stocks, even though bonds have historically provided lower returns than stocks.
- Exchange-traded funds (ETFs) - A basket of securities traded throughout the day — just like individual stocks — on a national stock exchange. Like mutual funds, you purchase shares of an overall fund rather than individual investments.1
- Alternative Investment Opportunities- If you are open to other avenues for growth potential, alternative investments2 such as hedge funds and private debt might provide these benefits for your investment plan: historically lower market correlation compared to traditional investments; less-extreme market cycle peaks and troughs; and access to more investment opportunities.
- Mutual funds - A fund allowing you to pool your money with others in a professionally managed portfolio. Mutual funds offer diversification through a mix of investments, such as stocks or bonds.1
- Annuities - A contract between you and an insurance company requiring the insurer to make payments to you, either immediately or in the future. You make contributions to the annuity for a guaranteed income stream.3
- Brokered certificates of deposit (CDs) - Brokered CDs are issued by banks, purchased in bulk by securities firms and sold to clients. Investors do not receive physical certificates for their brokered CDs, but instead receive a periodic account statement detailing their CD holdings.4 Brokered CDs’ market value may fluctuate over time.
- Brokered Liquid Deposit (PDF) – Brokered Liquid Deposit (BLD) is a flexible cash alternative that combines high yield with easy access to funds.
Next steps
- Understand the variety of investments available.
- Talk with us about investment choices.
2Alternative investments, such as hedge funds, funds of hedge funds, managed futures, private capital, real assets and real estate funds, are not appropriate for all investors. They are speculative, highly illiquid, and are designed for long-term investment, and not as trading vehicle. These funds carry specific investor qualifications which can include high income and net-worth requirements as well as relatively high investment minimums. The high expenses associated with alternative investments must be offset by trading profits and other income which may not be realized. Unlike mutual funds, alternative investments are not subject to some of the regulations designed to protect investors and are not required to provide the same level of disclosure as would be received from a mutual fund. They trade in diverse complex strategies that are affected in different ways and at different times by changing market conditions. Strategies may, at times, be out of market favor for considerable periods with adverse consequences for the fund and the investor. An investment in these funds involve the risks inherent in an investment in securities and can include losses associated with speculative investment practices, including hedging and leveraging through derivatives, such as futures, options, swaps, short selling, investments in non-U.S. securities, “junk” bonds and illiquid investments. The use of leverage in a portfolio varies by strategy. Leverage can significantly increase return potential but create greater risk of loss. At times, a fund may be unable to sell certain of its illiquid investments without a substantial drop in price, if at all. Other risks can include those associated with potential lack of diversification, restrictions on transferring interests, no available secondary market, complex tax structures, delays in tax reporting, valuation of securities and pricing. An investment in a fund of funds carries additional risks including asset-based fees and expenses at the fund level and indirect fees, expenses and asset-based compensation of investment funds in which these funds invest. An investor should review the private placement memorandum, subscription agreement and other related offering materials for complete information regarding terms, including all applicable fees, as well as the specific risks associated with a fund before investing.
3Variable annuities are long-term investments appropriate for retirement funding and are subject to market fluctuations and investment risk. Guarantees are based on the claims-paying ability of the issuing insurance company. Guarantees apply to minimum income from an annuity; they do not guarantee an investment return or the safety of the underlying funds.
4Generally, CDs may not be withdrawn prior to maturity. CDs are FDIC insured up to $250,000 per depositor per insured depository institution for each account ownership category. CDs may be issued by out of state institutions.
5Wells Fargo Clearing Services is not an FDIC-insured depository institution. Deposit products provided by Wells Fargo Bank, N.A., Member FDIC. Deposit insurance only protects against the failure of an insured depository institution.
- If you were sick, injured or died, would your family have the resources to achieve their goals?
- Help cover unpredictable financial risks through insurance.
- Life, disability, and long-term care insurance help cover risks that could disrupt your investment plan.
Insurance helps protect assets
You can’t avoid all risks in life. Insurance can play a key role in helping preserve your assets and achieve your financial goals.It’s all about keeping an eye on both assets and liabilities. Insurance allows you to transfer a risk from your balance sheet to an insurer’s. Find out why we recommend insurance as part of your investment plan.
A different kind of risk
When it comes to your financial goals, there are more risks to consider than just market volatility. Insurance can help protect against life-changing events. It can help ensure the financial goals you have made can continue on.We offer life, disability and long-term care insurance to help protect what matters most to you. Each type of coverage can help protect the key areas of your financial life: family, business, retirement, and legacy.
- Life Insurance - Life insurance helps protect the financial security of your family. Each type of life insurance is designed for a specific purpose. There is no “one size fits all”. We offer a wide selection of life insurance products, all from highly rated insurance companies, to help meet your specific protection needs.
Life insurance falls into two main types; term or permanent. Term insurance covers a temporary need in your life, such as until your children are in college.
Permanent insurance provides lifelong coverage. A key feature of many permanent insurance policies is the potential for it to accumulate cash value. This, added with the unique tax treatment of life insurance, can help create a source of supplemental income during retirement or provide funds for other needs such as long-term care. Permanent life insurance can also be a powerful tool when it comes to funding your legacy or charitable giving plans.
- Long-Term Care Insurance - This type of insurance can help pay for the costs of long-term care should you need it. It is important to know that Medicare does not pay the largest part of long-term care services or personal care—such as help with bathing, or for supervision often called custodial care.
Extended care planning is a key component in any retirement income plan. It can help provide a source of income tax-free funds to pay for care, helping protect your retirement savings from the rising cost of care.
- Disability Insurance - Disability insurance is designed to replace a portion of your income if you're unable to work because of a sickness or injury. Even if you could weather a temporary gap in earnings, an extended disability can be financially devastating and put your other goals, such as retirement and college planning, at risk.
How much should I have?
When it comes to the amount of coverage needed to help protect your financial goals, the “right” answer is unique to you. Factors such as your age, who depends on you, and your income and assets, should be carefully reviewed.It’s important to understand the amount may change over time and when major life events occur, making a regular review is critical.
Next Steps
- Research the costs associated with skilled nursing care, adult day care, and other services.
- Understand your annual expenses to help ensure you have the proper disability and life insurance coverage.
- Evaluate how your needs may change over time.
- Call us to see how insurance can play a role in your retirement planning.
Insurance products are offered through non-bank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.
Guarantees are based on the claims-paying ability of the issuing insurance company.
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