Dylan is a conservative midwestern family man. He grew up on a farm, but after graduating college, he went into the corporate world. Dylan then worked his whole life for the same large company. He retired several years ago but never sold his shares in company stock. He was unsure about the taxation, and unsure about the other risks he could face. Over the years, Dylan had attended numerous financial advisor seminars. He had read many things on the internet, in magazines and newspapers as well. Recently, Dylan was referred to us from another financial advisor who knew our expertise. We started out providing advice for his single stock portfolio, and how to unwind these positions with less taxes. Quickly, the conversation grew into a deeper conversation about the meaning of money.
We:
Completed a discovery meeting
Gathered all of the information from all the various sources
Learned about the ownership of his shares, some of which were in his company’s retirement plan
Shared with Dylan several paths for him to choose from
Made it clear to Dylan the pros and cons of each path
And we educated him and his wife about advanced planning opportunities that he had heard about, but never completely understood
Dylan says “you guys are a lot of fun to work with and I really appreciate your camaraderie and knowledge.” Dylan chose a middle-of-the-road financial path that reduced his taxes but did not cause too much complexity. Plus, he has the opportunity to make gifts to charities and, someday, bequeath a family foundation. He says, “pretty good for a farm boy.”
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