Individual Wealth Management

Wealth Management is a refined approach to integrating all aspects of your financial life.

At the Feliciano Financial Group, our mission is to make professional financial advice and investment services accessible to everyone. We believe in putting our clients first, by explaining complex financial topics in easy-to-understand language and helping those in need.

We bring together an integrated team of knowledgeable professionals to help you build, manage, preserve and transition your wealth. This team provides strategies to address your unique financial situation and pursue your needs.

Attending a seminar, reading books on personal finance, casual discussion of money management or using computer software can help understand the process. But consider putting together a 1,000-piece puzzle without the cover picture to guide you. That’s what it’s like for individuals with no financial plan or goals. The complex process of balancing portfolio management, retirement planning, estate planning, and tax planning is what makes wealth planning so crucial.

We Follow a Simple Four Step Process:

  1. Discovery: First, we listen. Our personal planning process always starts with a conversation. We want to know what’s important to you. It comes down to knowing which questions to ask, and most importantly, actively listening to you as you answer our questions. Throughout this process we capture objective data (legal documents, financial statements, tax returns, etc.) and discuss your goals, dreams and aspirations. Only after we understand the concrete and intrinsic elements of what makes up your financial world can we begin a thorough analysis.
  2. Analysis: Once the Discovery process is completed, we analyze the information to determine where you are today – including what planning you’ve done prior to meeting us, as well as the objectives, priorities and expectations you have moving forward. This provides the groundwork to identify any missed opportunities and eliminate potential obstacles that could make it difficult to reach your ideal financial destination.
  3. Plan: Next, we build a team and a plan. As we understand your needs, your advisor may assemble a multidisciplinary team for your multi-faceted financial life. Together, we’ll develop your personal financial strategy. After reviewing your priorities and a detailed analysis of your current and future finances, we present our recommendations in an actionable, written plan. Your plan is presented so that you and your family will clearly understand your present situation, and your short- and long-term objectives. The plan will serve as our shared reference to take actions and implement strategies that will help move you toward your final destination in a meaningful way.
  4. Implementation: After the planning process is complete and we’ve delivered your financial action plan, we move to our final step: Implementation. It’s here that our recommendations are put into place. When necessary, this includes initiation of product strategies and involvement of advisors to create, change or update documents. Clearly, this step is the most meaningful in the process, because it is the real payoff to a transparent and concise effort to make your life everything it can and should be.

Once Implementation is complete, we monitor your plan on an ongoing basis. As the markets, economy and your life changes, we’ll adjust your plan accordingly. Life and the markets may fluctuate, but we’ll remain focused on helping you achieve your financial goals.

Sales Person or Financial Planner

A product salesperson (insurance and securities) who is compensated entirely by the commissions on purchases, or a qualified financial advisor who may charge a fee for the time required to prepare any analysis and develop a report for your consideration.

There is certainly nothing wrong with a salesperson receiving commission on purchases. That is how people are generally compensated in the financial product area. After all, if you purchase a Certificate of Deposit at a local bank, you don’t for a minute believe that the tellers and officers are working for free. Their compensation is derived from the difference (you could call it a commission) between what the bank earns on its investments and what is credited to your account.

However, working with a financial advisor before making a purchase is more likely to leave you feeling informed and confident about a product without the pressure to buy, simply for the commission.

A qualified financial advisor can separate the advice stage from the actual purchase. What are the qualifications that you should look for in such a person? How do you go about finding and selecting a person who can help chart your path through the financial dilemmas?

The person you select should have:

  • Sufficient experience guiding personal financial affairs
  • Professional education, both initial and ongoing
  • Standing in recognized financial associations
  • Adherence to the developed professional standards
  • A commitment to client service and objectives
  • The capacity to help you fulfill your current and future needs
  • Sufficient staff, facilities and computer equipment
  • Ability to provide comprehensive analysis and ongoing services
  • An ethical posture
  • An ability to communicate effectively

Of all the requirements listed above, perhaps the most important is the capacity to communicate with you, to clarify your attitudes and to help you understand all the ramifications of the alternatives.

Professional Qualifications

Several professional designations, degrees or memberships indicate that the financial advisor has met educational, experience and ethical qualifications. The following (selected from a list of 80 designations, 72 associations) list is presented for your benefit – not as an endorsement, or in any order of ranking or preference:

CFP – Certified Financial Planner
Completed an educational program, passed certifying exams, meets continuing education requirements and licensed by the CFP Board of Standards.

RFC – Registered Financial Consultant
The RFC professional financial planning designation is awarded to those who meet requirements of education, examination, experience, licenses, a clear record of business conduct, significant annual continuing education, business integrity and adherence to the RFC Code of Ethics.

ChFC – Chartered Financial Consultant
A ChFC has completed an educational program, passed certifying exams and meets experience, ethical and continuing education requirements.

CEP – Certified Estate Planner
A professional designation awarded by the National Institute of Certified Estate Planners to persons completing a comprehensive program of advanced study. The NICEP offers a six-day intensive curriculum, separated into two three-day sessions, each followed by a comprehensive exam. Graduates agree to a standard of ethical performance and continuing education.

CFA – Chartered Financial Analyst
Has completed exams on securities and portfolio management and meets reference and experience requirements.

RIA – Registered Investment Advisor
Not a professional designation. A Registered Investment Advisor is a person or firm that has filed with the Securities Exchange Commission and adheres to certain disclosure requirements. This qualification is necessary for the rendering of investment advice.

CLU – Chartered Life Underwriter
Has completed examinations covering the application of life and health insurance in filling needs for survivor income, estate planning, business continuation and employee benefits.

RHU – Registered Health Underwriter
Has qualifications and experience with disability and medical insurance.

CPA – Certified Public Accountant
Has met educational qualifications, passed examinations and met experience qualifications in the area of public accounting. A few CPAs have also taken additional financial planning study and are Accredited Personal Financial Specialists.

FPA – Financial Planning Association
A professional membership organization. A key mission of the FPA is to promote the value of financial planning to the public and to serve as a voice to the financial planning profession.

IARFC – International Association of Registered Financial Consultants
Professional membership group of the Registered Financial Consultants (RFC). Formed to foster public confidence in the financial planning profession.

Even if we as individuals were to remain the same, the financial world around us changes so frequently that constant monitoring is a necessary part of the planning process. The political, tax, legislative and economic changes increase in frequency.

The on-going review and reporting also holds the planning firm accountable to you the client. Quarterly reviews also ensure that any necessary adjustments are made before it is too late.

Investing involves risk, including the loss of principal. No investment strategy can guarantee a profit of protects against loss. Neither Lion Street Financial, LLC, nor its registered representatives, offer tax or legal advice.

What about all the other pages under Wealth?
  • Asset Protection
  • Cash Flow Management
  • Charitable Tax Deductions
  • College Panning
  • Investment Planning
  • Private Family Foundations
  • Professional Specialties
  • Tax Planning
  • Wealth Planning

 

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Tyler Office  |  1828 East Southeast Loop 323, Suite 200, Tyler, TX 75701-8340  |  Mon-Fri: 8:00 AM - 5:00 PM  |  Sat-Sun: By Appointment

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by Advisor Launchpad to provide information on a topic that may be of interest. Advisor Launchpad is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Securities offered through Lion Street Financial, LLC., member FINRA/SIPC. Investment advisory services offered through Lion Street Advisors, LLC. Fixed and traditional insurance offered through Feliciano Financial Group (FFG). Medicaid planning and consulting offered through Geriatric Care Solutions (GCS). FFG and GCS are not affiliated with Lion Street Financial, LLC.

This site is published for residents of the United States only. Registered Representatives and Investment Adviser Representatives of Lion Street Financial, LLC and Lion Street Advisors, LLC respectively, may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed.

DOL ERISA: Effective June 9, 2017, all individuals who provide advice to retirement plans, including Individual Retirement Accounts (IRAs), must abide by the fiduciary standard.  What does the fiduciary standard mean?  This means that your advisor must put your interests first before their own or that of the firm, make prudent recommendations, charge reasonable compensation and make no misrepresentations to you regarding recommended investments.  The recommendations made by your advisor must be based upon your specific investment needs and objectives.  The fiduciary standard is applicable to any recommendations that your advisor makes to you, the client, for your retirement account.  Please note the firm does have policies and procedures in place to monitor this level of fiduciary responsibility for our clients.

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