Wood Smith Advisors, a Registered Investment Advisor (RIA), is a fee-only comprehensive financial services firm that partners with its clients to simplify their financial lives. We do this by providing investment advice and tax management, and financial, estate, and business planning.
We start our planning based on your life right now. Are you financing college, merging two families, or a busy executive? Then we explore ways to help you realize your distinct passion for the future whether it is a gourmet bakery, philanthropy, travels, or freedom to enjoy an active retirement. Realistic plans are developed to address your goals.
Financial Planning Services are customized for each client depending on their needs but will typically include the following:
Wood Smith Advisors works closely with each client to establish an initial plan, which may be comprehensive or focused based on their needs. Once a plan and action steps are established, Wood Smith Advisors is available on an ongoing bais to implement the recommendations, monitor those recommendations, and regularly update the plan based on the client's changing needs.
Engagements with new clients typically begin with, or include as part of the investment advisory services, a financial plan to determine where the investment advisory services fits in the implementation of that plan. The initial plan is separate from the advisory services fee. This process generally takes 8 to 12 weeks, and is defined by the Personal Financial Specialist Discipline of the American Institute of Certified Public Accountants, and the Board of Certified Financial Planners as follows:
We help our clients define their goals and determine, through financial planning, what may be required to achieve them. Education is an important part of the process, assisting our clients in understanding the pros and cons of actions and options available.
Wood Smith Advisors' Wealth Management clients receive discretionary management of their investment portfolios in addition to ongoing Financial Planning. Saving and Investing are an important part of financial planning. Determining suitability of investments based on a client’s liquidity needs, tolerance for risk and how long the funds are to be invested are essential, as is establishing the proper savings amounts and investment vehicles.
Wealth Management Services established for Financial Planning Clients will include:
Wood Smith Advisors also provides financial consulting services on an hourly basis. At times, hourly consulting may be more appropriate than fixed fees. We strive to deliver value and will work to ensure the most efficient method to aid our clients.