Westbrook Financial Services, Inc. is an independently owned/operated wealth management and financial services firm.
WFS offers a customized suite of financial services including Financial Planning, Estate Planning, Wealth Management, Investment Consulting/Communication, and Personal Protection Planning. We also offer solutions for corporate clients and their employees including Executive Benefits (consulting, design, implementation), Business Succession Planning, and Retirement Planning.
Why is financial planning important? A customized financial plan serves as a framework for organizing the pieces of your financial picture. With a financial plan in place, you will be able to focus on your goals and understand what it will take to reach them.
One of the main benefits of having a financial plan is that it can help you balance competing financial priorities. A financial plan will clearly show you how your financial goals are related - for example, how saving for your children's college education might impact your ability to save for retirement. Then you can use the information you've gleaned to decide how to prioritize your goals, implement specific strategies, and choose suitable products or services. Best of all, you will have the confidence that comes from knowing that your financial life is on track.
Investment Advisory Services
Investment Resources: As your investment advisor, our goal is to understand your financial circumstances and create a customized investment strategy to help achieve your desired objective. Throughout this process, we will work closely with you to keep you informed and in control of your investment portfolio. By carefully allocating your investable assets, monitoring the progress of your portfolio, and communicating with you regularly, our aim is to ensure that you fully understand the progress of your portfolio toward meeting your goals. We work within the context of a formal consulting process:
- Introductory Meeting
- Discovery Session
- Investment Proposal Presentation
- Implementation Meeting
- 45-Day Review
- Quarterly Reviews
Personal Protection Planning
Protecting Your Loved Ones With Life Insurance: What immediate financial expenses (e.g., debt repayment, funeral expenses) would your family face upon your death?
How long would your dependents need support if your were to die tomorrow?
Disability Income Insurance: Consider what might happen if you suffered an injury or illness and couldn't work for a day, months, or even years.
Long-Term Care: Approximately 40% of people will need long-term care at some point during their lifetimes after reaching 65(according to America's Health Insurance Plans (AHIP), the industry association.)
By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives.
At your death, you leave behind the people that you love and all your worldly goods. Without advance planning, you have no say about who gets what, and more of your property may go to others, like the federal government, instead of your loved ones. If you care about (1) how and to whom your property is distributed, and (2) ensuring that your property is preserved for your loved ones, you need to know more about estate planning.
Consulting, Design, Implementation: A principal challenge to employers is to attract, motivate and retain key employees (and executives in particular). These goals can be promoted by providing executive benefit plans to key employees.
- Executive Financial Planning Services
- Nonqualified Deferred Compensation Plans
- Employee Stock Ownership (ESOP)
- Buy-Sell Agreements Funding/ Business Continuation
- Key Employee Protection
Retirement Plans Design for Businesses
If you are self-employeed or own a business and you haven't established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future.
With a dizzying array of retirement plans to choose from, each with unique advantages, you'll need to clearly define your goals before attempting to choose a plan.
- Simplified Employee Pension Plan
- SIMPLE IRA
- Defined Benefit Plan
- 401(k) Plan
- Profit Sharing Plan