PROCESS

At Berkshire Wealth Group we focus on who our clients are and what is most important to them. Our process involves:

Introductory Meeting: 

The first step in our process is a general, get-to-know-you meeting where we discuss your goals and needs and determine together if our firm is a good fit to help you to achieve those goals. If we agree that the fit is right, we will move on to the next step.

Planning Meetings:

We meet as many times as needed (usually 2-4 meetings) to create a step-by-step plan to help you reach your goals. 

  • Information Gathering Meeting: At this meeting we gather all relevant financial information (statements of assets, liabilities, tax records, estate planning documents, etc.) to establish a starting point which will be the basis for a personalized plan.

  • Plan Creation Meeting: We work together to come up with a plan to help you achieve your objectives taking into account your time horizon, risk tolerance and cash flow needs. We will model various scenarios and help you choose the one that you feel most comfortable with. Plenty of time is set aside for questions.

Investment Management:

We advocate for fully diversified, tax-efficient portfolios so that clients are never taking on more risk than they are likely to be compensated for over the short and long term. We focus on minimizing investment costs while using more elegant strategies than a traditional ETF or indexing approach. Utilizing Nobel prize winning research our preferred investment managers focus on being at the cutting edge of financial science. Schedule a conversation to learn about how and why our investment management style is different. And read about our value added below.

Implementation: 

Implementing your plan usually involves setting up accounts, transferring money, and executing the purchase of agreed-upon investments. If there are things that need to be done by you (for example, changing your 401k contributions, setting up appointments with your attorney or CPA), we will help guide you toward getting all of these things done. We often arrange joint meetings with other advisors. 

Reviews: 

We will meet with you on at least a regular basis to review your plan and assess your progress relative to your defined objectives, suggesting changes as needed. New information and/or changes to the original goals are discussed and any new facts are integrated into your existing plan. Portfolios will be rebalanced at least annually in order to keep you portfolio in line with your goals and objectives.

Our Value Added

How We Attempt To Deliver Value

We are committed to providing our clients with an investment experience that reduces stress and worry in their lives and comprehensive financial planning. In most situations we aim to accomplish this by focusing on tax efficient and low cost investments.

Evidence-Based Investing

We utilize time-tested research and decades of academic insights when helping clients create investment portfolios. 

Tax-Efficient Strategies

We believe a focus on tax efficient investing can help boost after tax returns. By employing strategies like tax-loss harvesting, asset location optimization, and utilizing tax-managed funds, we aim to minimize your tax burden and maximize your wealth accumulation.

Low-Cost Investment Solutions

We typically embrace investments with low expense ratios and proven track records. We believe by keeping costs down, more of your money can stay invested and working for you over time. This cost-efficiency can compound over the years, potentially adding substantial value to your portfolio.

Comprehensive Financial Planning

Our services extend far beyond investment management. We provide holistic financial planning that encompasses:

  • Retirement planning

  • Estate planning

  • Risk tolerance review

  • Education planning

  • Tax strategy

  • Cash flow analysis

This comprehensive approach helps ensure all aspects of your financial life are optimized and aligned with your goals.

Behavioral Coaching

In our opinion, one of our most valuable services is behavioral coaching. We help you stay disciplined during market volatility and potentially avoid costly emotional decisions.

Working With Your Other Advisors

We frequently do calls to review tax planning strategies and estate planning strategies with clients and their estate attorneys and CPAs.

Why Work With A CFP® Professional

Most people think that all financial planners are “certified”, but this isn’t true. Anyone can call himself or herself a “financial planner.” Only those who have fulfilled the certification and renewal requirements of CFP Board can display the CFP® certification marks.

Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience and ethical requirements. These standards are called “the four E’s,” and they are four important reasons why the financial planning practitioner you select should display the CFP® certification marks.

When selecting a financial planner, you need to feel confident that the person you choose to help you plan for your future is competent and ethical. The CFP® certification can help to provide that sense of security by allowing only those who meet the following requirements the right to use the CFP® certification marks.

CFP® Certification Requirements: The Four E’s

Education: CFP® professionals must develop their theoretical and practical financial planning knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by CFP Board. Other options for satisfying the education component include submitting a transcript review or previous financial planning-related coursework to CFP Board for review and credit, or showing the attainment of certain professional designations or academic degrees.

Examination: CFP® practitioners must pass a comprehensive two-day, six-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, the exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance.

Experience: CFP® professionals must have three years’ minimum experience in the financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.

Ethics: As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, which sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.

How the CFP Board’s Code of Ethics Benefits You

Through the Code of Ethics, CFP® practitioners agree to act fairly and diligently when providing you with financial planning advice and services, putting your interests first. The Code of Ethics states that CFP® practitioners are to act with integrity, offering you professional services that are objective and based on your needs. They are required to provide you with information about their sources of compensation and conflicts of interest in writing.

Ongoing Certification Requirements

Once certified, CFP® practitioners are required to maintain technical competence and fulfill ethical obligations. Every two years, they must complete a minimum 30 hours of continuing education to stay current with developments in the financial planning profession and better serve clients. Two of these hours are spent studying or discussing CFP Board’s Code of Ethics or Practice Standards. In addition to the biennial continuing education requirement, all CFP® practitioners voluntarily disclose any public, civil, criminal or disciplinary actions that may have been taken against them during the previous two years as part of the renewal process.

Certified Financial Planner Board of Standards Inc. owns the certification marks CERTIFIED FINANCIAL PLANNER®, CFP®, and in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Why Work With A CIMA Professional

Experienced Guidance.

More Confident Investing.

  • Why work with a Certified Investment Management Analyst® professional?

    Certified Investment Management Analyst® professionals are dedicated to elevating their practice through education, experience, examination and the highest standards of ethics. CIMA® professionals have the advanced investment management knowledge necessary to fully serve affluent clients, and they use that in-depth knowledge to analyze and select the investments that make the most sense for your circumstances. They understand the financial complexities and risks that come with being in a high tax bracket, are well-versed in modern concepts of investment advice, and are educated to understand how individual investments work together. They apply this knowledge to analyze and select the investments that make the most sense for your personal situation. Earning a CIMA® designation requires three years of experience in investment management consulting and completion of the demanding educational program put forth by the CIMA® board. To maintain this designation, CIMA® professionals must adhere to a rigorous code of professional responsibility and complete 40 hours of continuing education every two years. These skills, along with a commitment to advanced education, help enable them to provide you with the level of investment guidance you not only need, but deserve.

    What is required to earn a CIMA® designation?

  • The CIMA® designation reflects completion and adherence to the four E’s: experience, education, examination and ethics.

  • Every investment consultant who has earned the CIMA® designation has at least three years of broad experience in the field of investment management consulting, has passed an extensive background check, and has completed the demanding educational program from a top-20 business school. Successful completion of a comprehensive examination is the final step in receiving the designation.

What does the IMCA® Code of Professional Responsibility mean to me?

The IMCA® Code of Professional Responsibility was adopted to promote and maintain the highest standard of personal and professional conduct in the investment and wealth management profession. The IMCA® Code serves to assure public confidence in the integrity and service offered by professional investment and wealth advisors. IMCA® professionals build trust, exhibit credibility, and foster accountability as they act in the best interest of clients. 

Ongoing Certification Requirements

To maintain their designation, CIMA® professionals must agree to and continually adhere to a rigorous code of professional responsibility and complete 40 hours of continuing education every two years.

Investment Management Consultants Association® (IMCA®) is the owner of the certification marks CIMA® and Certified Investment Management Analyst®.  Use of CIMA® or Certified Investment Management Analyst® signifies that the user has successfully completed IMCA’s® initial and ongoing credentialing requirements for investment management consultants.

Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person’s situation.  While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of Raymond James & Associates we are not qualified to render advice on tax or legal matters.