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Levy Wealth Management Group
Levy Wealth Management Group:
A family-centered approach to financial planning.
For 40 years, Levy Wealth Management Group, based in Philadelphia PA, has offered comprehensive financial planning and wealth management services to individuals, professionals, business owners and corporate executives. Our goal is to provide trusted financial guidance to help you pursue your financial goals and objectives.
Everything we do begins with you, our valued client. This core philosophy is reflected in the quality of our work and the friendliness of our professional team of associates. We take a caring, “kitchen table” approach to our relationship with you, and have treated our clients like part of our own family for more than four decades.Our success is measured by how well we address your needs. We invite you to join our family of clients and look forward to helping you navigate toward the life you envision.
Objectivity and Independence through LPL Financial
One of the keys to our continued success is our uncompromising approach to objective financial guidance. We are aligned with LPL Financial, one of the nation's leading financial services companies and a publicly traded company on the NASDAQ under ticker symbol LPLA. The firm's mission is rooted in the belief that objective financial guidance is a fundamental need for everyone. LPL does not offer proprietary investment products or engage in investment banking activities; this means advisors affiliated with LPL are not pressured or influenced by LPL to sell its products. Thousands of financial advisors nationwide are able to rely on the firm's tools and resources to help them provide financial guidance and recommendations to help meet their clients' needs. For more information about LPL Financial, visit www.lpl.com.
Our 6-Step approach is one of the most comprehensive in the industry.
We call our planning process “synoptic” because of its exceptional breadth of analysis. To us, financial planning requires the ability to see the big picture, apply it to day-to-day needs, and anticipate change — all while maintaining a steady commitment to pursuing your goals.
1. Getting to know each other. Meeting a new client is an exciting event, because every individual, family or business owner brings unique opportunities and challenges. Some clients require just one or two financial strategies. Others prefer a more integrated plan that incorporates a wide variety of tools and services. Whatever your preference, our advisors are here to help.
2. Gathering Information. This is what we call our “kitchen table” meeting, where we have a casual-but-critical conversation about you, your family and your business. We listen closely so we can fully understand your dreams, your core belief systems, and your resources.
3. Analyzing and Evaluating. Every individual’s financial situation has strengths and weaknesses. We identify and evaluate them, creating strategies and alternatives that are designed to address the most effective and efficient ways to manage your goals and objectives.
4. Strategies and Recommendations. Because we are not affiliated with any particular financial planning product, our recommendations and strategies are tailored to your unique situation. We develop a selection of appropriate strategies designed to work together which are presented to you in a clearly understandable way.
5. Implementing the Strategy. Once we have mutually decided on the best course of action for your needs, we put your plan into action. Attention to detail and frequent status updates are critical during this stage of the process.6. Continual Monitoring. Because life planning is a process, not a singular event, we communicate with you regularly to review and respond to any challenges in the markets or changes to your priorities or circumstances. We believe periodic review meetings allow us to build meaningful long term relationships which are focused on your core values, service needs, and financial plan.
WealthVisionSM Puts Control in Your Hands
As part of our commitment to transparency, convenience and flexibility for our clients, Levy Wealth Management Group offers WealthVision, an innovative platform that lets you track and manage your balance sheet, investments and documents in one convenient and secure location.
With WealthVision, all of your accounts, financial plans, assets and documents (such as deeds, insurance policies and tax returns) can be consolidated in one secure, encrypted and password-protected personal website. Access it at any time to monitor portfolio performance, check your asset allocation and account holdings, manage your cash flow, or view your Net Worth and Estate Plan.
Just as with all of our advice, WealthVision is collaborative. We work closely with you to make sure that your plan will remain firmly on the course you have set.
Wealth management that’s strategic and streamlined.
We believe a diversified portfolio that is consistent with your risk tolerance, time horizon and goals and objectives is essential. Our advisors ensure you are educated on your choices, and we personally engage with you to keep connected and assure that your portfolio is aligned with your financial plan.
Our approach to investments is to elevate your portfolio beyond a one-dimensional strategy and to maintain focus on your big picture. We manage your expectations in the context of your general financial plan & core values. This includes maintaining:
- A Net Worth Statement
- A Cash Flow Structure
- A Savings & Tax strategy
- Retirement cash flow expectations
- Asset allocation strategies at the account level and at the household level
Your unique circumstances and personal objectives dictate the method of investing, as well as the types of strategies chosen. Our independence provides us with the flexibility to offer investments that are suitable and align with your financial plan.
At the center of our investment process is our investment committee. By meeting weekly, we discuss the larger issues, such as current events and trends that could affect portfolios. Quarterly performance reports provide clear, concise information about your investments and give you the opportunity to review your investments and determine whether your current portfolio correctly reflects your long-term financial goals.
We look at the “big picture,” insuring that your objectives are addressed in your portfolio and that your future path is always in focus.
You get only one retirement. We can help you prepare for it.
It’s never too early to find out whether you’ll be able to make your retirement dreams reality. And we’d like to help.
The retirement planning process helps define what a successful retirement looks like for you. We begin by taking a look at your objectives within the context of your current income and expenses, future cash flow projections and your overall financial resources. You will gain a reasonable expectation of what you need to do now, and the levels of risk you are willing to take on, as you seek your goals. We understand that asset management is not the only consideration, we also can help you plan for a smooth transition from employment income to retirement income or from employer provided health insurance to Medicare and supplemental insurance. Whatever stage you are in now, our professionals can help you with a plan that is appropriate and realistic.
Your financial needs continue to change throughout your life. Perhaps you began with an insurance policy, then graduated to a comprehensive financial plan. Your assets grew. Your business flourished.
Now it’s time to look at estate and tax planning, and at your desire to create a legacy.
Our advisors can meet with you and your team of professionals to design an approach that will define your desires and create strategies to make them reality. We understand the often complicated interests involved in a family’s estate. By asking the right questions, we can help to resolve many issues and design a plan that addresses as many of your needs as possible.
Taking down the shingle: Transitioning into retirement.
What do you do when it’s time to retire from your professional practice?
We have helped many doctors, dentists and other professionals decide on the most appropriate way to deal with their business when it’s time to retire.
Monetizing one’s career often triggers conflicting emotions. Should the practice continue? Should you sell the practice and work part-time? Should you turn it over to the next generation? Or is it time to cash out and move to a more temperate climate?
As a family business, we know the questions to ask, the issues that could become critical, and the opportunities you should consider. Working with you, your attorneys and accountants, we can help to facilitate a strategy that will work best for you.
*Levy Wealth Management Group, LLC and LPL Financial do not provide legal or tax advice or services. Please consult your legal or tax advisor regarding your specific situation.
Supporting your fiduciary responsibilities
When you sponsor a retirement plan you assume certain fiduciary responsibilities. Our retirement plan advisors will help you fully understand these responsibilities to help your plan run in a compliant manner. We can also assist you with some of the more burdensome fiduciary obligations, allowing you to focus on your business.
The right platform
Once we have determined the goals of your plan, we put together a team of professionals who are best able to address these goals. The Levy Wealth Management Group team will help you choose the platform that provides a quality investment lineup, administrative process and participant services that are appropriate for you and your employees. In addition, we help you develop a process to monitor and review your Investment Policy Statement (IPS), and monitor your plan’s investment selections through ongoing analysis.
Outstanding client service
We will coordinate everything from enrollment meetings, investment recommendations, periodic review meetings and general support of your plan. Your advisor will periodically meet with the plan’s trustees and participants in an effort to ensure that the plan objectives are being met.
Full documentation through a respected third-party administrator
In situations where a Third-Party Administrator (TPA) is being utilized for plan design and compliance oversight, we will work with them as a liaison as they facilitate drafting plan documents, distribution processing, annual valuations and tax reporting. Our goal is to support the day to day operations of your retirement plan to ensure your goals and objectives are met.
Encouraging employee awareness
We will customize participant education to address your plan’s employee demographics in order to encourage participation in the plan. As a result, your communications plan will speak directly to your employees in their language, clearly demonstrating to them the benefits of retirement preparation, and motivating them to become “retirement ready.”
Fee Monitoring and Benchmarking
We completely explain all fees associated with your plan, and work hard to ensure that they are not only within industry standards, but provide maximum value. We will help facilitate the Request for Proposal (RFP) process for all appropriate vendors based on your unique profile.
We strive to remain fully up-to-date with industry, legislative and regulatory changes. In conjunction with the TPA and the investment platform, we will work together to help you ensure your plan is managed efficiently and effectively.
These provisions may include, among others:
- Entry dates
- Vesting procedures
- Timely distribution of required notices
- Timely contributions