In today’s rapidly changing and complex financial landscape, it is more important than ever for investors to seek professional advice. At Pinnacle Wealth Management Group, Inc., our team’s ability to guide you towards your goals is founded on experience, expertise, and our steadfast belief that personal relationships are critical to understanding and helping clients meet their investment objectives. To that end, we have developed new and innovative programs and services to further strengthen the relationship between us and our clients. We look forward to helping you achieve your financial goals!
Investment Management
As a fiduciary guided by the Investment Advisors Act of 1940, Pinnacle Wealth Management Group, Inc. offers ongoing, discretionary portfolio management services based on the individual goals, objectives, time horizon, and risk tolerance of each client. Our investment goal is to generate a personalized rate of return that moves you towards your stated objectives. As you move through life’s stages, your needs, priorities, and economic environment will change and so too must your investment strategy. Our focus is on helping you achieve optimal diversification, which creates the opportunity to capture returns wherever and whenever they occur, while minimizing portfolio volatility. In addition, we base our investment recommendations on a variety of other factors, including, but not limited to, performance risk, fees, tax efficiency of different investment strategies, as well as client input and preferences regarding the strategies.
Financial Planning
Understanding you, your needs, your financial circumstances and goals is a key element in our relationship with our clients. All the credentials and training in the world will not bring you any closer to your financial goals if you have an undirected or erratic planning strategy (or no strategy at all). At Pinnacle Wealth Management Group, Inc., our process always begins with developing a comprehensive financial plan, which guides all future decisions.
A fully-integrated financial plan, thoughtfully conceived and reviewed regularly, allows you to respond appropriately to life events and the changing economic tide. It also forms the blueprint of all investment and financial decisions, with built in benchmarks for measuring your progress.
We work with you in four distinct stages to develop and implement a customized financial plan:
- We begin with a thorough discovery to define your goals, your concerns, and your vision of retirement.
- Then we assess and analyze all facets of your current situation that form the pieces of your financial puzzle.
- Tailored solutions are identified and their implementation may involve the coordination of multiple disciplines such as tax planning, asset management, risk management, estate planning and philanthropic wishes.
- With your financial plan in place, we review it annually to adjust it as needed and check your progress towards your specific goals.
Estate Planning
Estate planning is not just for “retired” people or the “wealthy.”
Effective estate management enables you to manage your affairs during your lifetime and control the distribution of your wealth after death. An effective estate can spell out your healthcare wishes and ensure that they’re carried out – even if you are unable to communicate. It can even designate someone to manage your financial affairs should you be unable to do so.
Working either with our team of professionals or in collaboration with your legal and tax advisors, we will help you draft and incorporate a wealth preservation and asset transfer plan. We will also incorporate your legacy goals into your overall estate plan, while helping you prepare the next generation to understand the responsibilities of managing inherited wealth.
Risk Management / Insurance Planning
As you accumulate wealth, you also increase your financial exposure in several areas of your life; just one left unprotected could jeopardize all or a part of what you’ve worked so hard to create for you and your family.
Most families could not withstand the financial burden of unexpected events like a long-term disability, or the death of a family breadwinner, or a major liability claim, any one of which could severely impact financial well-being. A risk management plan should form the cornerstone of every family’s financial plan.
Some of the ways we work with clients to manage life’s risks to protect what they have and ensure a secure financial future include:
- Life: Considers income replacement, as well as business succession funding and estate planning through a vehicle which may be income tax and estate tax free, if structure properly.
- Disability: Protects your income in the event of your inability to work prior to financial freedom.
- Long-Term Care: Provides financial support for Activities of Daily Living (ADL’s) in respite care, adult day care, in-home care, assisted living and nursing home care.
What is an insurance policy review?
A insurance policy review is a complete review of all your insurance coverage. We believe that an insurance review entails more than trying to find you the same coverage for lower premiums. Although saving money is an integral part of an insurance policy review, it is only part of the process. Our consultative approach to policy review means we work in conjunction with our clients to help them determine whether their current insurance coverage is meeting their goals and objectives.
College Planning
Choosing a college is a big and exciting decision. Paying for college, on the other hand, is a big, but not so exciting, obligation.
With college costs continuing to rise faster than the rate of inflation, financing a child’s higher education can be a challenge. At Pinnacle Wealth Management Group, Inc., we work with our clients to develop and implement prudent strategies that can be used to pay college expenses for children or grandchildren, while keeping an eye on your overall financial goals. The two main tax-advantaged vehicles for contributing to college expenses are:
529 College Savings Plans
529 plans are generally state-sponsored and permit after-tax contributions that grow tax-free until distributed. Once funds are withdrawn and used toward qualified education college expenses at an eligible education institution, they are free from federal and, in many cases, state income taxes. However, if funds are not used for higher education, the earnings are subject to taxes and a 10% penalty. In this strategy, you retain control and must invest in the options available in the state-sponsored plan, which are usually mutual funds. You can usually change your allocation only twice per year. These plans are also treated more favorably than other types of savings for federal financial aid purposes.
Coverdell Educations Savings Accounts
Similar to 529 plans, Coverdell accounts take advantage of federal tax-free earnings. They also allow for maximum investment flexibility. Account assets can be held in stocks, bonds, mutual funds, certificates of deposit and many other types of investments. The accounts are open only to those whose adjusted gross income is less than $110,000 for individuals or $220,000 for a married couple. Contributions are capped at $2,000 per year per beneficiary.
As the wise proverb goes, “Give a man a fish, you feed him for a day. Teach him to fish and you feed him for a lifetime.” A college education is the gift that should “feed” your heirs for a lifetime, if not for generations.
Charitable Giving
Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations. Some find comfort in helping others who are less fortunate, while others simply want to share their good fortune. From implementation to governance to ongoing oversight, we offer comprehensive advice and a range of solutions to families at all stages of the philanthropy lifecycle. Partnering with you, we can help you define and truly realize your unique charitable vision.
Social Security Optimization
For many people Social Security has become an afterthought when it comes to their retirement plan. The focus generally centers on their 401(k) and IRA accounts and trying to beat the markets every year. This is largely due to a misunderstanding of how the system works. Choosing the optimal claiming strategy for couples can be confusing considering that there are a variety of different ways to file. At Pinnacle Wealth Management Group, Inc., we assist our clients with determining what the best Social Security claiming strategy is for them, given their unique needs. A great place to start would be to go to the Social Security website and gain instant access to your benefit summary.
Business Planning
We work with business clients to assess their business and liability risks, investments, opportunities, employee benefits and retirement planning needs.
