Stoddard Financial provides comprehensive wealth management. This means we offer more than just investment advice. Our clients get customized financial strategies that allow them to enjoy their retirement years without the worry of financial planning. We use an approach that takes your entire financial situation and personal goals into account and strive for results that encompass the “four pillars” of wealth management — investment management, estate planning, tax strategies, and risk management.
Who We Serve
The Tradesperson
Blue collar workers and tradesmen are often good with saving money, but many are unfamiliar with investing or financial planning. At Stoddard, we’re committed to helping these hardworking people get the most from the fruits of their labor.
The Widow
After the loss of a spouse, widows often find themselves dealing with both grief and pressing financial concerns at the same time. At Stoddard, we support women through this vulnerable time and help them step into the next chapter of their lives, feeling confident that they will be okay.
The Single Mom
When it comes to managing money, single moms are often savvy at making a dollar stretch and making sure their family has what they need, but sometimes they lack confidence in investing and financial planning. At Stoddard, we help single moms create financial confidence and clarity.
The Married Couple
When the unexpected happens, your financial and retirement plans may need to change, sometimes dramatically. These events can leave you wondering, “How do I move forward?” or “Where do I even begin?” At Stoddard, we are here to be a resource guiding you through life’s twists and turns.
Onboarding Process
First Appointment: The Introduction
The first meeting is a chance for you to get to know your advisor and our team, to learn about our process, and to ask any questions you may have. By the same token, it is our opportunity to get to know you and to learn about your situation. After this meeting, you and your advisor will be able to determine if subsequent meetings are required. If another meeting is scheduled, your advisor will collect pertinent financial and retirement planning documents, or they will give you a list of documents to collect for the next meeting.
Second Appointment: What are your needs, wants, and wishes?
During this meeting, we will really focus on you. We want to discover your true goals for your retirement: your needs, your wants, and your wishes. Your advisor will take this time to go over all the information you provided. They will identify assets and liabilities that belong to you as well as begin to determine what you are pleased with and what you are concerned with regarding your current situation. If it’s needed, your advisor will request additional information needed to create your full financial plan.
Third Appointment: Summary and Presentation of Results
You will begin to really see your plan take shape during your third appointment. Your advisor will provide you with a complete analysis of your current situation and retirement plan. They will provide you with recommendations to help improve the potential success of your plan. At the end of this meeting, you will see a very clear picture of whether any serious changes need to be made to your plan.
Fourth Appointment: The Action Meeting
Congratulations! If this meeting is scheduled, it means you and your advisor have agreed that there is a good fit between you. In addition, it means that you have both agreed to move forward, together. There are two main purposes to this meeting: (1) To initiate the first action items identified in the results of your plan, and (2) to complete the appropriate paperwork to begin implementing your plan.
Our Client Process
We Believe a Financial Plan is Never Complete
Every person’s and family’s plan requires ongoing reviews and updates when necessary. To facilitate this process, we have engineered a two-year review cycle to help identify when changes need to be made to your plan. While an overall review of your progress is necessary at each and every meeting, it won’t always be the entire focus. We will have multiple meetings over the span of two years, and each will focus on different aspects of your plan, including investments, estate planning, tax planning, and risk management.
The following is a summary of each review to be completed during the two-year cycle.
Risk & Diversification Assessment
Your feelings towards risk can be influenced by the dynamic global economy, the ever-changing political climate, and unpredictable world events. For this reason, we aim to maintain a clear understanding of your tolerance for risk and invest your assets accordingly.
Portfolio Stress Test
Using tools that generate what-if scenarios based on trending, real-life, macro uncertainties, we will stress test your portfolio to project potential outcomes and recommend changes in your portfolio if any are indicated.
Maximizing Social Security Benefits
For most middle-income couples, Social Security makes up 20% – 50% of their retirement income—often upwards of $500,000 in lifetime benefits. There are literally thousands of options for when and how to elect your Social Security benefits. We will help you develop a strategy and show you how to maximize your Social Security benefits.
Estate Plan Review
Effective estate management enables you to manage your affairs during your lifetime and control the distribution of your wealth after death. We work with your estate planning attorney to ensure your estate plan is put into action properly and identify when updates need to be made as your life and plan evolve.
Life, Disability, and Long-Term Care Needs Analysis
Insurance transfers the financial risk of life’s events to an insurance company. A sound risk mitigation strategy can help identify and protect your family from the financial consequences of these events. We analyze your needs and exposures to implement an insurance strategy aimed at protecting your family and loved ones and to help guide your plan towards success.
We Never Take Our Eyes Off Your Investment Portfolio
Over time, some investments will perform better or worse than others. To account for this, we periodically adjust your asset allocation to stay aligned with your unique goals.