Helping Individuals Build and Protect Wealth

Plan for a Life Well-lived!

Many people believe that a Financial Adviser is only for the ultra-wealthy or that they are to young to start.

At Daviman Financial, we help successful people at all stages of life prepare to reach their full potential.

We hope that person is YOU!

Would you like…

an Adviser you can call about investing, insurance, and taxes?

to minimize financial risks and maximize opportunities?

to reduce debt and build wealth?

to navigate the complexities of government programs like Social Security or Medicare?

to prepare for retirement?

Ages 18 - 29

These years are critical in developing good habits that will carry through the rest of their life. We often help people in this age range with the following topics.

  • Consolidating and repaying student loans
  • The importance of budgeting and saving
  • Evaluating employee benefits
  • Buying vs Leasing (car and home)
  • Employment opportunity evaluations and strategies
  • Start saving for retirement

Ages 30 - 45

During this period of life people are building careers, getting married, raising children or all of the above. We often help people in this age range with the following topics:

  • Retirement contributions and portfolio optimization
  • College savings plans 
  • Maximizing tax strategies
  • Budgeting and debt reduction
  • Investment portfolio planning
  • Establish Will and basic estate planning

Ages 46 - 65

People in this phase of life are focused on planning for retirement, preparing children for college and achieving the pinnacle of their career. Here’s how we help:

  • Maximizing retirement contributions
  • Maximizing tax strategies
  • Social Security and Medicare registration
  • Investment portfolio refinements

66+

Retirement. The Golden Years. Enjoying the fruits of your labors. Living the rest of our life comfortably and worry free, at least financially.

  • Investment portfolio refinements
  • Charitable donations
  • Estate and Legacy planning
  • Income distribution planning

We Make Financial Complexity... Simple.

No matter where you're at in this journey of life, we can help YOU!

 

Comprehensive Financial Planning

$5000 – $7000 Annually

This is our most detailed and thorough form of planning. It is designed as a collaboration between you and Daviman Financial to ensure your long term financial well being. Defined as a process, not a destination, comprehensive financial planning is about measuring all of your assets, liabilities, risks, and opportunities to create the most efficient path between where you are and where you would like to be.  

Most of our clients do not have a singular goal or destination–they have many they want to pursue together. We help you prioritize your goals by balancing importance and specific timelines to plan the best way forward. 

We utilize a variety of different planning, aggregation, and financial software tools to generate customized reports tailored to key elements important to you and your financial health. We leverage technology to provide you access to the most robust planning experience, but it never replaces the personal relationships that are central to a successful financial plan. Personal interaction and intuition is vital for success as understanding goals and plans can change over time. Having trust and consistent, personal communication is what allows your financial plan to be a living document that evolves with you.

  • Cash Management – Assist in the vetting and evaluation of vendors and/or technology for household cash management and budgeting. Determine how to track and provide guidance for spending in major categories. Model savings needed to prepare for large future purchases or expenses.

  • Debt Management – Organize liabilities based on balances, interest rates, term structure, and tax implications. Calculate the optimal order and amount of repayment to minimize interest and account for tax efficiency.

  • Investment Management – Perform an investment review to include qualified plans (401k, Profit Sharing plans, etc.), stock options, and mandatory stock purchases to satisfy Board or independence requirements, as applicable. Define risk tolerance and make sure all investments are coordinated together and properly balanced. We focus on investment efficiencies based on asset classes and tax implications of each account.

  • Financial Wellness – Benchmarking to include savings rate, debt ratios, and emergency resources are within appropriate ranges to avoid negatively affecting credit scores and the ability to borrow at preferred rates in the future.

  • Estate Planning – Review to ensure the protection and care of minor children. This includes the review of wills, trusts, beneficiary designations, and all legal documents affecting the care and support of dependents. 

  • Trust Planning – Perform a general review of current Trusts and where they fit into the Financial and Estate Plan. If no Trusts exist, a discussion and analysis of where they may fit based on projected goals, desires, and legacies.

  • Retirement Planning – Provide a detailed analysis of current and future savings, spending, and assumptions to predict if the current situation can support a retirement lifestyle equal to your needs. If it falls short, determine the changes needed to match the desired goals.

  • Tax Review – Analyze tax returns and current situation to determine areas for improvement or re-allocation of funds.

  • Risk Management – Evaluate all insurance policies to identify areas of weakness that can disrupt the overall plan. This includes property & casualty insurance as well as life, health and disability policies.

  • Education Funding – Project the desired amounts and vehicle to most efficiently save for higher education including maximizing all available tax credits. Plan for the desired public or private school funding taking into account various funding sources including the recent changes to 529 plan rules.

  • Charitable Giving – Create a formal plan for giving. Discuss major areas of interest and passions to focus on. This may involve including all family members to instill many giving ideas for the family and understanding the significance of each particular charity. We also review setting up a “family fund” for planned giving where the family acts as the Board of Directors and chooses how to allocate the gifts for each year.

  • Young Family Financial Education – Introduce concepts such as the save/spend/give philosophy. Incorporate charitable giving, investing, and personal spending for the younger generations.

  • Business Planning – Review business documents, create a succession plan, and discuss items relevant to business entity creation including Board Resolutions, annual minutes, and tax strategies.

  • Legacy Planning – Ensuring future trusts and wills are prepared for trustees to adequately administer properly including Investment Policy Statements, loan provisions, future family business interests, and other grantor intentions. 

Core Financial Planning

$1200 – $3000 Annually

We realize everyone may not need full comprehensive financial planning at this stage in their life. Our introduction to financial planning service is great for those just getting started, such as young professionals or those farther along in their career who just want to know where they stand. While this process does not have the same depth as our comprehensive financial planning, we review your entire financial life and focus on those few areas which may be of most concern. 

We use the same personal, goals-based approach to planning to help clarify where you stand and the next steps needed to help you analyze and move forward. Everyone’s goals and planning experience will be tailored to their needs; however, here are some of the major areas commonly addressed in our introduction to financial planning:

  • Cash Management – Determine how to track and provide guidance for spending in major categories. Model savings needed to prepare for large future purchases or expenses.

  • Debt Management – Organize all liabilities based on balance, interest rates, term structure, and tax implications. Balance the optimal order and amount of repayment to minimize interest and account for tax deductibility.

  • Investment Management – Perform an investment review to include all investment options. Define risk tolerance and make sure that when all investments are aligned they are focused on the goal. Focus on investment efficiencies based on asset classes and tax implications of each account.

  • Financial Wellness – Benchmarking to include savings rate, debt ratios, and emergency resources are within appropriate ranges to not negatively affect credit scores and the ability to borrow at preferred rates in the future.

  • Risk Management – Evaluate all current insurance holdings to identify areas of weakness that can disrupt the overall plan.

  • Education Funding – Project the amount and location to most efficiently save for higher education including maximizing all available tax credits. Plan for current private school funding, taking into account various funding sources, such as the recent changes to 529 plan rules.

  • Retirement Planning – Provide an analysis of current and future savings, spending, and assumptions to predict if the current situation can support a retirement lifestyle equal to the client’s needs. If it cannot, determine what changes need to be made to match or adjust the desired goals.

Hourly Financial Planning

$100 – $250 per Hour

Hourly financial planning is best suited for answering specific financial questions or performing isolated financial work. After discussing your goals and questions, we can typically provide an estimate of how much time would be required to complete the research and necessary analysis.

Following are common questions, calculations, or situations well suited to hourly planning:

  • Student loan consolidation / repayment planning

  • Understanding employee benefits at work

  • Investment portfolio reviews

  • Business reviews

  • Insurance reviews

  • Social Security claiming options

  • How much house can I afford?

  • Should I take my pension as a lifetime income stream or a lump sum?

  • You are a do-it-yourself finance person and simply need to discuss assumptions and concepts and want an independent and objective review.

Why Daviman Financial?

 

Our advisors hold multiple industry accreditation's, which means, we are well versed in advising you on the following topics.

 

AIF®, ChFC®, CLU®, CFP®, MSFS

Investing
  • What rate of return should I expect?
  • How “safe” is the stock market?
  • How much risk should I be taking?
  • Roth IRA / 401k or Traditional IRA / 401k?
  • How do I diversify my investments?
Financial Planning
  • How much should I be saving for retirement?

  • When can I retire?

  • Will I run out of money?

  • How do I save for my kids’ college education?

  • What should I be doing in my business to lower my taxes?
Insurance
  • How much life insurance do I need?

  • Should I take the group disability policy offered through my work?

  • If I retire before 65 what are my options for health insurance?

  • What does a personal umbrella liability policy protect me from?

  • At what age should I consider long term care insurance?
Life Events

Life happens and often it has a way of impacting our goals. We help you plan for the ones you dream about and navigate the challenges it can throw at you. Either way, we're here to help you.

  • Getting married
  • Receiving an inheritance
  • Buying a home/vacation home
  • Starting a family
  • Paying off student loans
  • Consolidating debt
  • Making major charitable donations
  • Long-term care events
  • Losing a job or changing employers

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5975 Castle Creek Parkway North Dr
STE 440
Indianapolis IN 46250-4377
(317) 207-0175

©  Daviman Financial LLC - 2019 - All Rights Reserved