Aim to Turn Sudden Wealth Into Long-Term Prosperity
You've just had a life-changing financial windfall or inheritance, and while it's exciting, it can also be daunting.
Let's ensure that your wealth is thoughtfully optimized to benefit you and your loved ones for years to come.
At 360 Financial, we can create a personalized financial plan and investment strategy that aligns with your goals and values, preserving your sudden wealth with the aim to turn it into long-term prosperity
Sudden Wealth Creates Unique Challenges
Navigating a sudden wealth event can feel overwhelming, with new responsibilities and options at every turn.
You may feel like you finally have the chance to experience financial security for the rest of your life, but you're worried that you might waste this opportunity.
We'll address these unique challenges together, ensuring that your financial decisions are aligned with your long-term objectives.
Choose 360 Financial as Your Sudden Wealth Advisory Team
At 360 Financial, we have over 30 years of experience.
Our team of financial professionals are specialists who work together to provide you with all aspects of wealth management, from financial planning to tax planning to estate planning. You won't have to cobble together a team of professionals; instead, you'll have everything you need under one roof.
We have experience managing sudden wealth as well as slow-growing generational wealth. And we provide tailored plans based on your specific situation. There are no cookie-cutter solutions, and as fiduciaries, we always act in your best interest.
Sudden Wealth Management Services
✅ Your LifeWealth Plan
With 360's LifeWealth Planning Process, we help you explore how your inheritance or increase in wealth aligns with your life’s purpose and values, addressing meaningful questions about your goals and the impact of money on your life choices. We help you clarify what's important and create a plan that brings that to life.
We develop a customized financial plan that addresses your current wealth and plans for long-term stability and tax-efficient income streams.
✅ Education Funding Strategies
If you have family members whose education you would like to fund, we ensure resources are in place for family members' educational aspirations, from private schooling to higher education.
✅ Advanced Estate and Tax Planning
You shouldn't have to navigate the complexities of estate and tax implications of sudden wealth alone. As your wealth management team, we aim to ensure your legacy and assets are preserved and efficiently managed.
✅ Generational Wealth Planning
Your sudden wealth can become generational wealth with the right strategies. We create a plan to implement strategies to transfer wealth across generations, which may include setting up trusts and family governance structures.
✅ Customized Investment Management
You will not have a cookie-cutter portfolio. Instead, you'll get personalized investment advice and portfolio management that reflects your unique financial situation and risk tolerance.
✅ Philanthropic Strategy and Charitable Giving
We can design a charitable giving plan that reflects your values, maximizes the impact of your contributions, and provides you with tax benefits.
✅ Retirement Planning for Financial Freedom
When dealing with a sudden influx of wealth, it's important to adjust and optimize retirement strategies aiming to secure and enhance your lifestyle in the future.
✅ Comprehensive Risk Management
We will identify and manage financial risks associated with sudden wealth, including insurance. It's important to make sure you and your family are covered no matter what curveballs life throws your way.
✅ Tailored Tax Strategies and Management
We can work with your account to help implement effective tax strategies to manage liabilities and maximize the benefits of your wealth under current tax laws.
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FAQ:
What is sudden wealth syndrome?
Sudden wealth syndrome refers to the stress and emotional turmoil that can accompany unexpectedly coming in a large amount of money. It often leads to feelings of confusion and anxiety about managing the new wealth responsibly.
What should I do when a lot of money suddenly appears in my life?
Take a deep breath, and don't rush into any big decisions. It's a good idea to assemble a trusted team of financial advisors, including a financial planner or wealth manager, to help you plan your next steps carefully.
Should I work with a Certified Financial Planner or a wealth advisor?
Both can be beneficial. A Certified Financial Planner can help you with broad financial planning, while a wealth advisor might offer more specialized investment advice. Depending on your needs, working with both could provide comprehensive guidance. At 360 Financial, you will have access to a wealth advisor and CFP as part of our wealth management services.
Can you help me understand what my options are?
Absolutely! We can look at everything from investment strategies to estate planning aiming to ensure your financial stability. We'll discuss your goals and tailor a plan that suits your new financial landscape.
How can we ensure this money lasts and benefits my family for generations?
By establishing a solid estate plan and considering trusts or other financial structures, we seek to help secure your wealth across generations. Regular reviews and adjustments to the plan will ensure it remains aligned with your family's evolving needs.
I need advice on taxes and how much I should be setting aside; can you help with that?
Planning for taxes is crucial. We'll analyze your new financial situation to forecast your tax liabilities and suggest how much you should set aside, considering various tax planning strategies.
I'm worried that investing involves risk. How can I reduce risk when investing?
Understanding and managing risk is crucial. We can tailor an investment strategy that fits your risk profile, focusing on diversification and choosing investments that align with your comfort level and financial goals.
What kind of team do I need to manage all these aspects of wealth?
A comprehensive team usually includes a financial planner, investment advisor, tax professional, and an attorney. Depending on your needs, you might also consider a risk management consultant and a private banker.
How do we get started with estate planning? What documents do I need?
We begin by discussing your long-term wishes and objectives. Key documents we'll need to prepare include a will, trusts, healthcare directives, and powers of attorney.
Schedule a 15-minute call with a 360 Financial advisor to find out if we're the right fit, how we can help you, and how the process works.
Speak with a Financial Advisor about Your Sudden Wealth
Get the best financial guidance for your exact situation and goals. No more cookie-cutter solutions or high-cost products.
Here's How It Works
Getting Started
Here’s how the process works:
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Schedule a call with a 360 Financial advisor.
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Have a 15-minute fit call to ask questions.
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Meet for a more in-depth follow-up call with your advisor.
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Get started with your new financial advisor.
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We create a financial plan for you and begin pursuing your investments.
Personal Finance after a Sudden Wealth Event
If personal finance wasn't your focus before, it probably is now that you've come into sudden wealth or a substantial inheritance.
Feeling the pressure to make smart choices and protect your money is natural, and you might worry about who to trust and whether people are just after your money.
The key is to make calm, logical decisions that truly fit with your lifestyle and goals.
Remember, it's okay to take your time and avoid jumping into risky investments or anything that doesn't feel right.
What Is Sudden Wealth Management?
Sudden wealth management involves advising and guiding anyone who has unexpectedly come into significant financial resources.
You may have come into a windfall through an inheritance, business sale, sudden professional success, legal settlement or other sudden wealth event.
In this case, working with a wealth management team is likely a wise move. In particular, we recommend working with a fiduciary financial advisor so you can relax knowing that your advisor is always working in your best interest.
Sudden wealth management focuses on addressing the unique challenges of managing large sums of money.
When dealing with sudden wealth, there are potential tax implications and lifestyle changes. Your advisor should be focused on helping you to pursue long-term financial stability and reliable income streams.
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Navigating an Increase in Wealth with Ease
At 360 Financial, we are an independent advisory firm that offers all the wealth management tools you'll find at a big-box firm but with personalized service that is tailored to your family's exact needs. We are a group of fiduciary financial advisors — CFPs and AIFs — who care deeply about providing the best possible service and strategies to our clients.
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All investing involves risk including loss of principal. No strategy assures success or protects against loss. 360 Financial and LPL Financial do not offer legal advice or services. This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
Planning Your Financial Future
What is the financial planning process?
At 360, our process consists of three meetings:
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Discovery
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Design
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Deployment
1) Discovery: The first step is to get to know you and your family, as well as your complete financial picture. We need to answer the question: What is important to you?
2) Design: Next, we design a LifeWealth Plan that is customized to your needs.
3) Deployment: Now it's time to execute. We put your plan into practice, knowing that the strategy and plan are covered.
The next stage is ongoing management and review. A plan is never one-and-done. After we set the plan in motion, we monitor it. We'll meet annually or bi-annually to review and realign.