No two clients are the same, and no two financial plans are the same, either. Read our stories to gain insight on how Girard has navigated our clients’ life journeys, better prepared them for their future, and supported their efforts to achieve their financial goals.
The Business Owner
Bob came across an opportunity to expand his business and needed capital quickly, but the financing he was able to secure fell short of what he needed. He turned to Girard to discuss his options.
After talking with Bob, we discovered he had investment assets from his time at another firm that had not been looked at in years. We transferred them over, managed them in line with Bob’s risk level, and our parent company bank arranged a line of credit against those assets. This gave him the extra liquidity he needed to take advantage of a timely business opportunity.
We were also able to provide Bob—and several of his employees—much-needed insurance to help ensure that the business will still thrive if any key personnel unexpectedly pass away.
The Busy Family
John is a pharmaceutical executive and the sole wage earner, while Lisa stays at home to care for Max, their special needs child. Concerned about the future, especially after watching John’s parents struggle in retirement, the couple met with Girard to help them complete a financial plan. By doing the plan, they identified parts of their financial life that needed to be adjusted in order to help ensure their future security.
First, we consolidated several outside investment accounts to Girard. That way, they only needed to work with one advisor. Next, we secured life insurance for John since he’s the sole wage earner in the household. Lisa and John then spoke to our Trust Services group, who helped them establish a Special Needs Trust that provides assets, care, and direction for Max, in case his parents should predecease him.
Finally, John gifted highly appreciated company stock to the Univest Foundation to create a Donor Advised Fund in his parents’ memory. Distributions from this fund will help local charities in need.
Nancy recently lost her husband of 52 years. Jim handled all of the investment accounts, and while Nancy was aware the accounts existed, she wasn’t sure how to manage them without Jim.
Nancy’s son suggested she meet with Girard. We discovered that Nancy was exposed to extra risk because her holdings were not well diversified across asset classes and sectors. To help correct this, we proposed a restructuring of her holdings that would be more consistent with her risk tolerance. However, this restructuring involved the sale of her existing holdings which could result in large capital gains. In order to help assure we were implementing this strategy in the most advantageous way possible for this client, we met with Nancy’s CPA to better understand her tax situation and potential liability from the capital gains. With the assistance of her CPA, we were able to proceed with our plan to restructure the portfolio in a tax intelligent manner.
Nancy’s account is now well allocated and diversified. With regular management and rebalancing of her portfolio, Nancy is more confident knowing her assets are prudently managed and strategically allocated.
The Doctor Nearing Retirement
Dr. Smith has run a successful oncology practice for many years, and has a complex estate including assets that produce a sizeable income. Now in his early 60s, he is nearing retirement and the potential sale of his practice in coming years. He has a large amount of cash at his local bank and realized he needed to be invested properly for growth, so he turned to Girard.
We met with Dr. Smith to discuss his situation, our process, and how we could help him efficiently manage his assets, focusing on growth for the long term. Dr. Smith completed our risk questionnaire, which confirmed his ability to take on a higher level of risk. He wanted a portfolio of individual equities, and together, we decided to invest his funds in our existing growth portfolio. Dr. Smith receives quarterly updates from us and has a well-structured managed equity account.
Through this process, we also learned that Dr. Smith needed to purchase equipment for his practice. We discussed how he intended to fund the purchase, and some options available to him. Through our parent company bank, we set up a meeting with a private banker who was able to provide Dr. Smith a solution with an asset backed line of credit that allowed him to borrow funds at a very competitive interest rate against his investment account. This required minimal paperwork and was a low-cost, quick, and easy way to access funds.
Case studies are for illustrative purposes only. Actual results may vary, there is no guarantee that similar results can or will be achieved.
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation or advice of any kind. The information contained herein may contain information that is subject to change without notice. Any investments or strategies referenced herein do not take into account the investment objectives, financial situation or particular needs of any specific person. Product suitability must be independently determined for each individual investor.