Seamark Financial Services provides Comprehensive Financial Planning and Investment Advisory services which are fully integrated to provide total Wealth Management. We believe that our clients’ financial needs are best met when we can integrate and coordinate all aspects of their financial picture. We work closely with our clients’ attorney(s) and tax advisors, coordinating all the endeavors of the financial team.
Comprehensive Financial Planning
What is financial planning?
At the beginning of each new Wealth Management relationship, we work with our clients to prepare a Comprehensive Financial Plan. The Plan serves as a baseline to organize your financial picture and provides the roadmap for achieving your financial goals and objectives.
What areas are covered in the Financial Plan?
The major areas of the Financial Plan include General Planning Issues, Retirement Planning, and Estate Planning. As you might imagine, every individual comes to us with a different set of goals and concerns. Within the General Planning area we would examine net worth, cash flow, insurance, education and other planning goals (new boat, second home, etc.). Our retirement analysis will help determine how much is necessary to meet your income needs during retirement and where the money will come from. In our estate planning overview we will be looking to see that your estate documents are current and in keeping with your wishes. For people who are concerned with the cost of estate taxes we will explore ways of addressing this issue. In addition to all of the above many of our clients come to us with business and succession planning issues, real estate questions, beneficiary concerns, etc. We are happy to work with you on any area of concern and to bring in the necessary expertise to accomplish the goal.
Investment Advisory Services
How do you go about constructing a portfolio for me?
Our first step is to work with you to determine the long-term rate of return that you require to meet your financial goals, consistent with your need to sleep at night. That discussion will lead us to the appropriate overall balance between the three major asset classes: cash, stocks, and bonds.
From that point forward, our job is to do the research to find the best possible managers to fill out all the different assets classes in your portfolio. When evaluating managers, we look for consistency over time, a clearly stated investment philosophy, and a rigorous investment process. We also like managers who think like owners, so we expect them to have significant amounts of their own funds in the investment vehicles that they run. We further expect them to provide their advice for a reasonable, shareholder-friendly fee, and that they communicate openly and freely, celebrating their successes and sharing the lessons learned from their failures.
What investment vehicles do you recommend?
For most of our clients’ portfolios, we recommend the use of no-load mutual funds. We do have a number of individual stocks in many clients’ portfolios. These are typically “legacy” investments that were in the portfolio when the client came to Seamark. In these cases, we typically recommend repositioning the portfolio over time to have the individual stocks represent a “core” domestic large company stock portfolio which we will then further diversify by introducing funds in other investment classes such as small company and international stocks. We do not recommend the purchase of new individual equities in our clients’ portfolios.
What role do I have in making investment decisions?
Seamark Financial Services accepts limited power of attorney to act on a discretionary basis on behalf of our clients. A limited power of attorney allows us to execute trades. We will, however, make every reasonable effort to contact clients prior to each trade to obtain approval. In that sense, we are true investment advisors. You are free to accept or reject our advice. The vast majority of our clients, of course, do accept most of our recommendations. But not always, and that is a truly good thing, because it means that we have had a detailed discussion and you, the client, has exercised the option to make your own, independent decision.