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Marcum LLP
Marcum LLP
Tax & Business

Personal Financial Management

Personal Financial Management
 
  • Do you have enough to retire?
  • Is your portfolio tax efficient?
  • How seamless will you transfer your wealth?
  • Are you maximizing Social Security/Medicare benefits?
  • Are you protected from the unexpected?
  • Will your assets outlive you?

Marcum's Financial Wealth group is focused on your total financial wellness.

Whereas a tax accountant offers tax return preparation and planning and a financial advisor reviews retirement and financial planning, our professionals work together to unlock strategies aimed at enhancing your financial well-being. Our tax, financial planning, and legal expertise cater to your specific needs and incorporate a combination of integrated services, strategies and planning techniques to provide you with optimal guidance and consultation, monitoring and oversight.

This "one-stop" approach allows the advisors from each discipline to work together, resulting in more expedient and beneficial consultation. We aim to move beyond tax preparation and portfolio management to become the planner, advice giver, problem solver and intellectual capital warehouse.

At each level, clients are provided with both the initial analysis and strategy creation and ongoing monitoring and progress reporting packages that are combined to provide clients with ongoing, intrinsic insight into their financial roadmap.

GET IN TOUCH
Contact one of Marcum's regional representatives.

ASK MARCUM

Our Services
Our services include, but are not limited to:

  • Tax planning & strategy.
  • Wealth tracking.
  • Retirement planning.
  • Performance overview.
  • Education and major expense planning.
  • Estate planning.
  • Cash flow and debt management.
Personalized Options
Since your needs are unique, our services are nimble and flexible. We take into consideration the many factors involved, including:

  • Life stage.
  • Demographics.
  • Type of returns.
  • Net worth.
 
The Marcum Personal Financial Management Process

M

MISSION

Defining a concise statement of your personal goals.

A

ADVICE

Developing strategies to guide prudent actions for the future.

R

RELATIONSHIPS

Understanding how your personal connections affect your goals.

C

CUSTOMIZED

Modifying the plan to suit your particular needs.

U

UNIFIED

Joining together all aspects of your financial, tax and legal plans.

M

MANAGEMENT

Controlling and monitoring the outcome of your plan.

Your Personalized Financial Management Options

INITIAL

Options

Description

Core

Enhanced

Concierge

 
Retirement Goal Planning and Monitoring
A basic retirement plan built on an analysis of your existing assets, future income and retirement goals and objectives.
Core, Enhanced and Concierge
 
Tax Return Review
An overview of your income tax returns for the previous year and advice on planning steps to mitigate taxes.
Core, Enhanced and Concierge
 
Education Planning
An analysis of the education needs of your family and funding strategies.
Core, Enhanced and Concierge
 
Net Worth Statement
A basic net worth statement capturing both your retirement and non-retirement assets. Includes investable and personal assets and liabilities.
Core, Enhanced and Concierge
 
Budget Guidance
A template budget and guidelines on how to create and stick to a budget.
Core, Enhanced and Concierge
 
Risk Management Needs Analysis
A review of the amount of life, disability and long- term care insurance needed to protect the family in the event of unforeseen events.
Core, Enhanced and Concierge
 
Total Asset Allocation Strategy
An in-depth review of your asset current allocations and recommendation on a strategy most suitable to meet your desired objectives.
 
Enhanced and Concierge
 
Investment Policy Statement
Creation of a household Investment Policy Statement guiding investment choices, asset allocation, and performance criteria for the portfolio.
 
Enhanced and Concierge
 
Estate Plan Review
A review of your existing estate planning documents and suggested steps to mitigate estate taxes and implement next-generation wealth transfer planning.
 
Enhanced and Concierge
 
Tax Return Review including AMT and NII Analysis
An overview of your income tax returns for the previous year and advice on the planning steps to mitigate taxes.
 
 
Concierge
 
Social Security and Medicare Analysis
A review of social security benefits and identification of claiming strategies to maximize social security payout.
 
 
Concierge
 
Estate Plan Review
An review of your existing estate planning documents, review of asset protection strategies, charitable planning and suggested steps to mitigate estate taxes and implement next-generation wealth transfer planning.
 
 
Concierge
 
Debt Analysis and Restructuring
A review of existing loans to identify ways of reducing loan servicing costs. Debt consolidation recommendations to reduce payments and enhance tax efficiency of interest payments.
 
 
Concierge
 
Life and Liability Insurance Review
An analysis of your existing insurance needs and review of your policies for performance and features needed to cover your loved ones.
 
 
Concierge
 
Gifting Analysis and Strategies
The creation and development of an asset and tax-efficient philanthropic plan that reflects and reinforces a family legacy of giving.
 
 
Concierge
 

RECURRING

Options

Description

Core

Enhanced

Concierge

 
Annual Tax Return Preparation
A basic income tax return preparation that includes wages, 3-4 brokerage statements, 2 non-hedge fund K-1's, itemized deductions and one resident state income tax return.
Core, Enhanced and Concierge
 
Semi-Annual Performance Report and Education Goal Tracking
A mid-year report providing a high level overview of your asset allocation, accumulated rate of return and variance report with your retirement return benchmark.
Core, Enhanced and Concierge
 
Annual Insurance Needs Analysis
Track against major life events and / or changes to net worth to see if the needs have changed.
Core, Enhanced and Concierge
 
Tax-Harvesting
An annual evaluation of your total insurance needs and tax-harvesting for minimizing capital gains during Q4.
Core, Enhanced and Concierge
 
Annual Tax Projections
An annual tax projection during Q4 advising you of your projected tax liability for the year and steps to mitigate them, if possible.
Core, Enhanced and Concierge
 
Annual Performance Report and Net Worth Statement
A year-end report providing a high level overview of your asset allocation, accumulated rate of return and variance report with your retirement return benchmark and well as an annually updated Basic Net Worth Statement.
Core, Enhanced and Concierge
 
Cash Flow and Budget Tracking
(available with Raymond James accounts only)
A report providing details of cash in-flows and out-flows and how they correspond to an annual budget.
 
Enhanced and Concierge
 
Annual Credit Report
Obtain copies of an annual credit report and review for negative factors lowering credit score.
 
Enhanced and Concierge
 
Mini Life Book
A compilation of the most important elements of your personal and financial life that leaves a footprint for loved ones when they need it most.
 
 
Concierge
 

Fees will vary based on the exact services that are part of a customized engagement.
The personalized options are examples and the exact services may vary by client and are subject to change without notice

THE RAYMOND JAMES ADVANTAGE *

The decision to hire a professional financial team should take into account the quality and professionalism of the firm that stands behind them. In choosing to do business with our team, you are also doing business with Raymond James.

Our team utilizes the extensive resources of Raymond James to effectively meet the needs of our clients. This approach allows us to provide a wide range of solutions by leveraging the expertise of Raymond James professionals.

* Securities are offered exclusively through Raymond James Financial Services, Inc., member FINRA/SIPC. Marcum Financial Services LLC is independent of Raymond James Financial Services.

Newsletter

Beyond the Numbers

Roundup of business and tax planning ideas

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Contacts

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Steven Brett

President
Marcum Financial Services
Melville, NY
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Joseph Perry

Partner-in-Charge
Tax & Business
Melville, NY
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ABOUT MARCUM LLP

Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.

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