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Case Studies

 

Independent Planning

  A family asked us to provide an independent assessment of their overall finances in a comprehensive manner.

They wanted advice about how they were doing and what they should be doing differently across all of their financial life. The family wanted an arrangement that provided them advice for a fee with no strings attached. They wanted to be able to take this advice, have it explained in a simple and organized fashion, and be able to implement ideas on their own. After getting an in depth understanding about them, their goals, and their resources, we analyzed their situation as if we were in their shoes and worked to create a plan of action. They were able to adjust many aspects of their finances to improve their situation and provide greater understanding. Upon the completion of our financial planning process they shared how much of an eye opening experience this was and how they really didn’t understand their situation as well as they had originally thought.
 

Organize. Simplify. Plan.

A new client who owns a successful business, but didn’t have a lot of free-time, hired us to prepare a comprehensive financial plan for their family & practice.

We were able to identify and share in easy to understand and implement ways, ideas to make the most of their financial resources. RFC helped ensure that they were preparing smartly for their upcoming and future financial goals. We suggested various risk management strategies for their personal and business finances. Because they didn’t have much time to dedicate to this task, they greatly appreciated our thoroughness and organization so they could quickly and decisively make decisions plus have the understanding that they were doing the right things.
  

Retirement

 An independent woman engaged our services to evaluate whether she was on track and able to retire at age 65 as she had hoped.

She had an investment advisor that she was satisfied with but wanted an independent assessment. Her main concerns were whether she had been saving and earning enough to stay ahead of inflation and provide income throughout retirement. She also wanted to understand and create an income plan accounting for Social Security, her employer retirement (401k and pension options) and health care benefits/costs. Having saved her whole life, she was very nervous about transitioning from collecting a paycheck to having her investments generate an income. We analyzed her financial situation and generated a comprehensive financial plan that laid out a step by step retirement plan. She then knew she could retire at the age of 65 without worry and possibly even enjoy an improved lifestyle in retirement. RFC Financial Planners implemented the recommended strategy and consolidated her investments. Just as planned, at age 65, she kicked off retirement by fulfilling her life-long dream of a trip to Italy.
  

Investment

 A widow hired RFC for comprehensive financial planning and investment management services.

Having had no kids, her primary concern was having her money generate income and growth to sustain income needs adjusted for cost of living/inflation. Prior to hiring RFC Financial Planners, she handled her investments on her own through accounts held at a large, national firm. With a fair amount of investment knowledge, she drilled the CERTIFIED FINANCIAL PLANNER™ professionals at RFC with questions and analysis until finally realizing she was in good hands. A consolidated investment strategy was implemented creating a simpler way for her to view her accounts, including easy access to CFP® professionals and staff members. Through a variety of independent institutional investment managers and other investment strategies and tools, she now has a well balanced investment strategy. RFC continually monitors and provides active investment management for her accounts and notifies her directly when updates or changes are needed.
  

University Fidelity & TIAA CREF Accounts

 A University of Michigan employee requested a complimentary initial consultation to evaluate her University of Michigan benefits and retirement 403(b), 401(a), and 457(b) plans.

It was evident that she was not aware of some major limitations with a specific investment option within the TIAA CREF accounts. She had been allocating a majority of her retirement contributions into the TIAA Traditional Account which only offers restrictive withdrawals even after retirement no matter what age. Since RFC has University faculty, staff and employees as clients, we had the documents on hand and notified her HR department to make adjustments to her retirement contributions. An investment strategy was developed and implemented to initiate the transfer and consolidation of her TIAA CREF accounts over time into her Fidelity retirement accounts which RFC actively manages. She also wanted a firm that knew the details of her employer retirement plan but could also continue helping her with these accounts and other investments if and when she left this employer. RFC continually monitors and provides active investment management for her accounts.
  

Risk Management

 A new client asked why his annual life insurance cost continued to increase over the past few years. It was getting difficult for him to afford the cost, but he still wanted to keep his coverage.

We discovered that his policy, and its past fixed cost structure, had matured and his costs had been increasing each year since then and would continue to rise in cost annually for the length of coverage. It was determined that he needed to keep the amount of his insurance in place to provide for his wife and that his current health prevented us from working with many insurance companies. However, through diligence and communication with various insurance company underwriters we were able to secure a new policy with a lower annual fixed cost for the length of his coverage.

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