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Services

Client-driven, goals-oriented planning for lifetime wealth

 

We help clients identify financial goals and we develop a plan to reach them. We identify what you want to accomplish, what resources you will need to make that happen, how much time will be needed to get there, and how much we recommend you save and invest toward your goal.

 

Our complimentary planning service provided to Investment clients includes a projection of the likelihood of achieving your financial goals, typically focusing on financial independence as the primary objective.

 

We charge a one-time fee of $500 to create a financial plan with actionable steps for those individuals who are non-investment clients, with a quarterly fee for advice on outside investment accounts and for ongoing financial planning services.

 

An example of actionable steps for adjusting certain goals includes, but is not limited to: working longer, saving more, spending less, or seeking greater opportunities with your investments.  Any of these, or several in combination, can be employed to reach a client's goals.

 

If you are near retirement or already retired, advice may be given on appropriate distribution strategies to minimize the likelihood of running out of money during your retirement years. 

Investments designed to reach your goals & financial objectives

 

We will help you establish an investment policy, including strategies and types of investments to be used. 

 

In developing our portfolio guidance, we will develop an asset ownership plan to meet clients’ financial goals and risk tolerance, and we will implement strategies that will be employed.

 

We generally believe that moderate risk portfolios will achieve more than high-risk portfolios.  It has been our experience that if one takes outsized risks, one will eventually experience outsized losses. We will construct moderate-risk portfolios that we anticipate will produce returns sufficient to reach clients' financial goals and objectives.  See the article on risk and reward in the Forums tab Money Memos Discussion for more detail.

 

The fixed fee for our investment management service is 1% of assets under management, which is the standard rate for this service.

 

We also review employee stock options and provide guidance on how they can be effectively dealt with, given the tax issues almost always involved.

 

We may assist you in opening an account at a qualified broker-dealer.  

We are opportunistic and defensive investors
We invest for growth when risks are low, or, to preserve capital when risks are high

 

We believe that studying economic and financial indicators can lead to better investment decisions.  These efforts help us manage the degree of risk and reward that comes with different asset classes during different cyclical time periods.

 

We desire to invest in opportunities for growth during lower-risk periods, and we also want to protect client assets from deterioration during higher-risk periods, as determined by our economic and financial research. 

 

Accordingly, we will buy and sell as we perceive the economic environment is changing. 

 

Take the retirement readiness assessment now

Demystify retirement issues like Medicare, and social security

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Clients generally want to know when to take Social Security, and our work employs several financial models to assist clients in arriving at their answers.  It is important that clients understand the many alternatives and the consequences of each of the available options when selecting Social Security payments.

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Many individuals make the wrong decision, sometimes costing them a significant fortune, up to $3,500,000 or more.  We have the knowledge to guide you in choosing the right alternative in this very important financial and lifestyle decision.

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Clients also want an explanation of how Medicare works, how much protection the coverage actually provides, which plan to purchase, and of course, when and how to enroll.  We provide guidance in helping clients make their selections.

Make smart choices with insurance and employee benefits

 

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We will review and analyze if you, as an employee, are taking maximum advantage of your employee benefit plans.  We will explain the features, advantages, and disadvantages of your plan.

 

If you are a business owner, we will consider and/or recommend the various benefit programs that can be structured to meet both business and personal retirement goals.

 

We review existing insurance policies to ensure proper coverage for life, health, disability, long-term care, liability, home, and automobile.  We will look for savings opportunities wherever they exist and have been very successful in lowering client premiums.

 

 

We work with you on cash flow and debt repayment

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We provide clients with an analysis of credit card debts and we develop an optimized plan for early payoff.  We use up to 3 different models to determine the best solution for you. 

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We will conduct a review of your income and expenses to determine your current cash flow surplus or deficit.  We recommend ways to reduce bills that are costing you too much and provide advice on how any surplus should be deployed.  

 

We may also recommend what we believe to be an appropriate cash reserve that should be considered for emergencies and other financial goals.  We will also recommend how these reserves will be invested in various types of accounts.

Income tax and estate planning issues

 

This usually includes an analysis of your current estate plan, which may include whether you have a will, powers of attorney, and other related documents.

 

Our advice also typically includes ways for you to minimize or avoid future estate taxes by implementing appropriate estate planning strategies.
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As part of analyzing your overall financial picture, we also look for ways to minimize your current and future income taxes.

 

For example, we may make recommendations on which type of account(s) or specific investment(s) should be owned, based in part on their “tax efficiency,” with considerations that there will always be future changes to federal, state or local tax rates and tax laws that may impact your situation.

 

NOTE: We always recommend that our clients consult with a qualified tax or estate professional before initiating any strategies.  We may provide advice regarding issues to explore and discuss with accountants or attorneys with these specialties.  We will participate in meetings or phone calls between clients and their professionals, at client request.

 

Retirement savings and withdrawals

 

Saving for retirement is tax-advantaged in multiple ways, and there are many types of accounts you can choose from.  Be sure that you understand the details of the available options with our help.

 

Individuals inheriting IRAs must adhere to a set of strict rules in the year of a decedent's death, so be sure to contact us for assistance immediately - penalties can be severe.

 

Clients want to understand their retirement plan withdrawal requirements.  We help you establish a withdrawal strategy that will yield the best results for both a long-lived account and tax minimization.  Failure to make required withdrawals carry large tax penalties when filing your tax return, so it is important to put your withdrawal plan into action asap.

 

New rules went into effect in 2020, and it is important that you take a look at the Forum tab to review these changes.

 

Occasionally, clients may need to borrow from their retirement accounts, although it is not recommended if there are better alternatives.  We can advise you on how to select the lowest cost, most tax-efficient choices.

 

Education Planning - secondary school or  college, and beyond

 

Certain types of non-retirement investment options are available to fund education in secondary school and beyond.  In addition, there are tax advantages to those who seek education related to their career.

 

Be sure that you know the factors that will help you determine which of the half-dozen options is the right one for you.

 

Through good financial planning, it may be possible for you to pre-fund all your children's college educations costs. 

 

If that is not possible, saving to pre-fund up to half those costs is important.  Then seek funding from other sources with our help. 

 

After years of effectively managing your credit, you may be eligible to get low-rate loans for education expenses. 

 

Let us show you all the available options.

 

 

Holman Wealth Management - The Defensive Advisor

Dallas, TX 75229 

To email us ... click here

972-702-6032 

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Last Edited: July, 2024

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Holman Wealth Management LLC is a registered investment adviser offering advisory services in the State of Texas. Registration does not imply a certain level of skill or training. The information shared on this page shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute.
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HWM advisors are fiduciaries and as such, always put the client's needs and interests above their own.  All HWM advisors are fee-only advisors.
 
The written content and opinions voiced herein are for general information only and are not intended to provide specific advice or recommendations for any individual without HWM having complete knowledge of that individual’s total financial profile.  Material presented herein is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. 
 
To determine what is appropriate for you, consult HWM or a qualified professional financial advisor.  While we provide general tax and legal information, please consult with a tax professional or attorney on tax and legal issues before proceeding on such information.  No investment strategy guarantees success or assures against occasional losses.

 

CFA - Chartered Financial Analyst (or CFA®): The CFA charter is the gold standard for the investment industry. CFA charterholders enjoy a mark of the highest distinction in the investment management profession, a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. Passing the three six-hour cumulative CFA exams (Levels I, II, III) is a difficult feat that requires extensive study (successful CFA candidates report spending an average 3,000 hours of study to become a CFA). Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision making in today’s quickly evolving global financial industry.

 

To earn the CFA charter, candidates must master a broad-based curriculum of investment principles and commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct. The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning.

 

The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, require CFA charter holders to:

  • Place their clients’ interests ahead of their own

  • Maintain independence and objectivity

  • Act with integrity

  • Maintain and improve their professional competence

  • Disclose conflicts of interest and legal matters

 

CFA® charterholders who fail to comply with the above ethics, professional standards and other requirements may be subject to the CFA Institute’s enforcement process, which could result in censure or permanent revocation of their CFA® charter.

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CFP® (Certified Financial Planner): The CERTIFIED FINANCIAL PLANNER™:
The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 71,000 individuals have obtained CFP® certification from the CFP Board in the United States. 


To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements: 
  ●  Education – a) Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and b) attain a bachelor’s degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning; and
  ●  Examination – Pass the comprehensive CFP® Certification Examination. The examination includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real-world circumstances; and
  ●  Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and  
  ●  Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals. 
Individuals who become certified must complete the following ongoing education and ethics requirements to maintain the right to continue to use the CFP® marks: 
  ●  Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the CFP Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and  
  ●  Ethics – Renew and agree to be bound by the CFP Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients. 

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CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification. 

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Proud member of XY Planning Network! Advisors displaying this badge have been accepted into XY Planning Network by vowing to adhere to strict fiduciary standards and by carrying the CFP® designation. XY Planning Network is the leading financial planning platform for fee-for-service financial advisors who want to serve their Gen X and Gen Y peers by providing comprehensive financial planning services without commissions, product sales or asset minimums. 

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