At Barrons, we assist our personal clients in creating and preserving their wealth by providing objective, qualified advice aimed at maximizing capital growth. Whether you are in need of a personal or business strategy, our experienced advisers show you the best way to manage, grow, conserve and ultimately transfer your hard earned money.
Most people have never given serious thought to their families’ broader objectives or financial principles. Fewer know what to do about them. So we ask clients a wide range of questions about their life priorities and aspirations. Out of that discussion, a set of financial principles and life goals emerge.
This information is used to create a customized strategy for you. It becomes the framework for all decisions, from a simple single need insurance solution to full comprehensive financial planning.
Each client’s life situation, goals and constraints are unique. We review both assets and liabilities carefully to determine the best way to meet individual long- term capital objectives. In fact, we believe asset management depends upon a clear understanding of liabilities and future commitments.
We believe in working with highly-qualified professionals who help us by providing service to our clients in their areas of specialty. Central to this strategy is the fact that no single firm can be the expert in every discipline.
We rely on these external advisors to bring their technical expertise in law, tax, asset management and banking. Our role is to identify areas requiring specific external expertise, then involve those professionals as needed.
Often we work with our clients’ existing accountants and lawyers, especially where a trusted relationship has existed for years. Where clients don’t have a trusted professional advisor in a particular discipline, we will introduce them to one from our wide network of accountants, lawyers, discretionary asset managers and bankers, who can best meets their needs.
Even when an individual has clear objectives, a solid plan and good intentions, these alone will not get the job done. Busy schedules, lack of direction, and the absence of a professional to manage the process often lead to less-than-satisfactory results. At Barrons, we help ensure that the solutions we design with clients get implemented and achieve the desired results.
A Summary of Our Personal Business Process
- Establish the Engagement: Define the Terms of the Engagement
Details about each party’s responsibilities, the time frames of the engagement, compensation, and Conflicts of Interest should be set out in writing in a formal Engagement Letter or in a Letter of Understanding, signed by both parties.
- Gather Client Data: Identify the Client's Goals, Needs and Priorities - Discovery
- Gather Client Data: Obtain the Client’s Information
- Analyze the Client’s Financial Information: Analyze the Information with Respect to the Client's Goals, Needs and Priorities
- Develop and Present the Financial Plan: Identify and Evaluate the Financial Planning Strategies
- Develop and Present the Financial Plan: Develop and Present the Financial Planning Recommendations
- Implementation of the Financial Plan: Agree on Implementation Action, Responsibilities and Time Frames
- Implementation of the Financial Plan: Implement the Financial Plan
- Review the Financial Plan: Agree on Responsibilities and Time Frames for the Review and Re-Evaluation of the Financial Plan
- Review the Financial Plan: Monitor and Evaluate the Financial Plan