Technology Professionals & Corporate Executives
At Herrick Wealth Advisory, we understand the unique challenges faced by technology professionals and corporate executives, especially women who balance demanding careers with personal responsibilities. It’s essential to partner with a team that supports your personal financial life, helping you meet your specific needs and goals while maintaining a diversified portfolio. Here’s how we can support you:
Comprehensive Financial Planning: Our holistic approach ensures your financial plan reflects your unique circumstances and aspirations, supporting both your personal and professional growth.
Goal Setting and Life Planning: We encourage you to envision your goals and dreams, helping you articulate and pursue the life you aspire to live.
Quarterly Review and Rebalancing: With your busy schedule, financial planning can often take a backseat. We recommend making it a quarterly practice to review your investment allocations and determine if rebalancing is necessary. This is especially crucial if you hold a significant concentration of stock in your employer.
Asset Location and Tax Planning: Effective asset location is essential for optimizing your after-tax returns. With various account types—such as 401(k)s, brokerage accounts, and Roth IRAs—strategically placing your investments in the right accounts can significantly enhance your overall financial performance. To further maximize your financial efficiency, we partner with your tax preparers to ensure open communication and share insights. This collaborative approach allows us to leverage every available opportunity, ensuring your financial strategies align with your tax planning goals.
Savings and Investment Opportunities: Benefit from our specialized knowledge tailored for technology professionals and corporate executives, including:
Workplace Savings Plans: Maximize the tax advantages, investment options, and employer matching benefits of your 401(k), deferred compensation, and other employer-sponsored retirement plans.
Individual Retirement Accounts: We assist you with deductible IRAs, SEP IRAs, Roth IRAs, and back-door Roth IRA contributions.
Equity Compensation: Navigate the complexities of stock options, equity ownership, and ESPP stakes to optimize your financial outcomes.
Risk Management: We educate you on your insurance needs and solutions, ensuring you’re protected now and in the future.
Personalized Guidance: Experience a relationship-driven approach that prioritizes building strong connections over simply meeting credentials.
Our goal is to empower you to take charge of your financial future with tailored strategies that address your unique concerns. At Herrick Wealth Advisory, we are committed to helping you navigate the complexities of financial planning, allowing you to focus on what matters most—your career, aspirations, and personal life. Together, we’ll build a solid foundation for your financial success that adapts to your evolving needs.
Trial Lawyers, Their Families, Their Law Firms, & Their Clients
With a deep understanding of the unique demands and nuances involved in pursuing legal remedies on behalf of plaintiffs, Herrick Wealth Advisory provides comprehensive financial planning services tailored specifically for trial attorneys, their families, their firms, and their clients.
Why Choose Us?
Few financial planners have the extensive experience we do in personal injury settlement planning. We have consulted on countless personal injury settlements totaling hundreds of millions of dollars, collaborating with attorneys, injured clients, trust professionals, structured settlement brokers, and medical lien experts. This experience assists us not only in serving personal injury plaintiffs but also the lawyers and law firms who represent them.
Healthcare Professionals & Medical Concierge Practices
At Herrick Wealth Advisory, we understand the unique challenges faced by healthcare professionals and concierge doctors, who navigate demanding professional obligations to clients while running business operations and, in many cases, balancing a personal and family life. We support our clients in the healthcare fields as follows:
End-to-End Service Model: Our support for our clients in the medical field extends well beyond their financial planning and investment management. We help business owners in the medical field navigate tax, legal, payroll, and other business operations, freeing up their time to focus on:
Comprehensive Financial Planning: Our holistic approach addresses the unique circumstances and aspirations of our clients, supporting both their personal and professional growth.
Goal Setting and Life Planning: We encourage our clients to envision their goals and dreams, helping them articulate and pursue the lives they imagine.
Specialized Financial Solutions for Healthcare Professionals:
Retirement Planning: Strategies that account for the unique aspects of your profession, including retirement plans that optimize tax efficiency and align with your lifestyle goals. Our clients often take advantage of back-door Roth IRA contributions and other tax-advantaged solutions in their retirement planning.
401(k)/Qualified Plans: We consult with our clients and third-party administrators to design a qualified plan that utilizes the internal revenue to the benefit of our business-owner clients.
Cash Balance Plans: We often implement cash balance plans to provide our clients with a defined benefit option that can significantly enhance retirement savings and tax deductions, especially beneficial for high-income earners.
Insurance and Risk Management: Comprehensive evaluations of your insurance needs, including malpractice, disability, and life insurance, to safeguard your financial future.
Investment Opportunities: Access to specialized investment options that consider your high-income status and liquidity needs, including stocks and bonds, direct indexing, private equity and alternative investments tailored for high-earning professionals.
Our goal is to empower healthcare professionals to take charge of their financial future with tailored strategies that address their unique concerns. At Herrick Wealth Advisory, we are committed to helping busy healthcare professionals navigate the complexities of financial planning, allowing them to focus on what matters most—patient care, career aspirations, and personal and family life. Our clients appreciate the peace of mind that a high-touch service model offers.
Business Owners & Entrepreneurs
At Herrick Wealth Advisory, we understand the unique challenges faced by entrepreneurs and tech founders. Our specialized support in liquidity and exit planning aims to help you secure your legacy while maximizing your wealth, preparing you for the complexities that come with significant financial transitions.
Tax Minimization Strategies
Pre-Transaction Planning: We provide business advisory services and capital gains tax strategies to prepare you, your family, and your business for a successful exit.
Exit Strategies: Our comprehensive tax and estate planning covers liquidity events, business exits, initial public offerings, acquisitions, and succession planning.
Tax-Efficient Portfolios: Enjoy personalized wealth management, charitable planning, and asset allocation tailored to your specific objectives, risk tolerance, and future plans.
Cash Flow Strategies
Paycheck Replacement: We develop strategies to create sustainable cash flow, regardless of market, economic, or interest rate cycles.
Disruptive Innovations: Explore private investments and industries poised for exponential growth, enhancing your portfolio’s potential.
Diversification: A well-diversified portfolio is essential for creating a stable income stream that supports your financial independence.
Our comprehensive approach ensures you are well-prepared for the financial complexities of your entrepreneurial journey. At Herrick Wealth Advisory, we are dedicated to empowering you with the knowledge and strategies necessary to navigate significant financial transitions. Together, we will build a robust financial foundation that secures your legacy, enhances your wealth, and supports your long-term aspirations.
Young Professionals & Families
At Herrick Wealth Advisory, we understand the unique personal and financial challenges that young professionals and families encounter. Here’s how we can support you:
Comprehensive Financial Planning: We ensure your financial plan reflects your unique circumstances and aspirations, supporting both your personal and professional growth.
Goal Setting and Life Planning: We encourage you to envision your goals and dreams, helping you feel the life you aspire to live.
Budgeting, Spending, Saving & Investing: We collaborate with you to analyze your after-tax income, spending habits, and savings strategies, while identifying tax-advantaged investment opportunities tailored to your needs.
Tax Planning: We partner with your tax preparers to maintain open communication, share insights, and leverage every opportunity available to maximize your tax efficiency.
Risk Management: We educate you on your insurance needs and solutions, ensuring you're protected now and in the future.
Savings and Investment Opportunities: Benefit from our specialized knowledge tailored for business owners, legal, academic, and medical professionals, as well as tech professionals, including:
Workplace Savings Plans: Maximize the tax advantages, investment options, and employer matching benefits of your 401(k) and other employer-sponsored retirement plans.
Individual Retirement Accounts: We assist you with deductible IRAs, SEP IRAs, Roth IRAs, and back-door Roth IRA contributions.
Equity Compensation: Navigate the complexities of stock options and ownership stakes to optimize your financial outcomes.
Personalized Guidance: Experience a relationship-driven approach that prioritizes building strong connections over simply meeting credentials.
Our goal is to empower you to take charge of your financial future with tailored strategies that address your unique concerns. At Herrick Wealth Advisory, we are committed to helping you navigate the complexities of financial planning, allowing you to focus on what matters most—your career, aspirations, and personal life. Together, we’ll build a solid foundation for your financial success that adapts to your evolving needs.