To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Read our editorial policy and terms of service to learn more. Wealthtender is not a client of these financial services providers.
➡️ Find a Local Advisor | 🎯 Find a Specialist Advisor
It’s an exciting time when you’re approaching retirement and preparing for the next phase of your life. You’ve likely spent decades working towards this milestone and have a vision for how you’ll spend your days, perhaps enjoying more time with grandchildren, traveling, or volunteering in your community.
But retirement comes with a cost and knowing how you’ll afford to live comfortably while preserving your savings to last a lifetime is no easy task.
If you’re thinking about hiring a financial advisor who can help you make the most of your golden years, you may be best served choosing an advisor who specializes in helping people nearing retirement like you. With their experience, credentials, and knowledge of retirement planning strategies and pitfalls to avoid, you may find your life in retirement includes one less worry so you can enjoy your days more.
Let’s learn more about financial advisors who specialize in helping near-retirees to help you decide if a retirement advisor may be right for you.
🌞 Get to Know Retirement Advisors Who Specialize in Helping Near-Retirees
This page is organized into sections to help you quickly find the information you need and get answers to your questions:
- Q&A with Financial Advisors Who Specialize in Helping Near-Retirees
- Get Answers to Your Questions About Hiring a Retirement Advisor
- Browse Related Articles
Get to Know:
Retirement Advisor Showcase:
– Nick Covyeau –
Three Questions with Nick Covyeau
We asked financial planner Nick Covyeau to share insights based on his experience helping people over age 50 pay less in taxes throughout their retirement. Based in Costa Mesa, California, Nick works with many clients in-person locally and meets with others nationwide online.
Q: As the founder of Swell Financial Partners, you’ve chosen to specialize in working with people who are over the age of 55 and ready to retire in the next 5 to 10 years. What is a common financial planning challenge you often encounter when you begin working with new clients? And how do you help them overcome this obstacle?
Nick: I see a lot of clients struggle with being able to see the entire picture and knowing where they’re at financially and how close (or far) they are from retirement. Thus, organization and clarity are by far the two most important elements to every plan.
Before any technical work can begin, we must start first with identifying what an ideal retirement looks like and then get an inventory of where each person or family is starting from.
Our process starts with framing the intention of our work together by going into a series of intentional questions designed to zero in on what’s most important to each person. Though every plan and each client’s situation and circumstances are different, the process and outcome remain the same.
Once we’ve identified their purpose and vision, we can then begin to comb through statements, documents, and tax returns to begin organizing their picture, consolidating accounts, and simplifying the complex.
Last, we present multiple options and recommendations for clients to choose from as we believe financial planning is a collaborative process and each plan has many ways towards achieving a successful outcome.
Get to Know Nick Covyeau:
View Nick’s profile on Wealthtender or visit his website to learn more.
Q: How do the services you offer distinguish Swell Financial Partners from other advisory firms people in their fifties might be considering?
Nick: Planning for retirement is all we do. It’s all we think about and all we read about.
By narrowing our focus to only work with individuals and families preparing for retirement, allows us to go much deeper in our planning work than most traditional firms that serve a wide array of clients.
We have created an entire process dedicated to centering around all the major events one would need to think about in preparing for the years leading up to retirement such as how to pay less in taxes throughout your entire lifetime, how to build an investment account so that you don’t outlive your money, creating a coordinated withdrawal strategy to the timing of Social Security and Pensions and last, understanding the impact of Medicare, taxes and new legislative changes.
Q: How do you coordinate with other professionals like accountants and estate planning attorneys to help your clients feel more confident and less stressed about their retirement plans?
Nick: Communication and teamwork are critical. It takes an entire village worth of professionals to get our clients to retirement. We help to assemble a team around our clients or partner together to work with their existing relationships to collaborate and all get on the same page for our clients.
In working with CPA’s, we are actively communicating to work on reducing their lifetime taxable income by figuring out where the timing of various tax planning techniques like Roth Conversions, Donor Advised Funds or Charitable Trusts make sense.
Throughout the year, we continue to be a second set of eyes on tax returns, discuss current tax thresholds and monitor how future changes to Income or Retirement dates will impact Medicare thresholds, possible deductions, or the timing of Social Security.
With respect to Estate Planning, we are actively involved in the discussion and the implementation of Trust, Wills, and various Estate Gifting vehicles.
Each year we review our client’s current Estate Plan to ensure accuracy and verify that their wishes were drafted correctly and that all of their assets and beneficiary continue to match.
Q: In circumstances when older clients pass away, do you offer to provide ongoing financial planning services to their children who may not yet be in their fifties?
Nick: Each circumstance is unique, and it all comes down to the relationship we have with the family and the children. It is our promise to always provide guidance and counsel to our client’s children, especially during a time of transition and loss.
Through our process, it is very common for us to be in contact with our client’s children and have an established relationship with them.
Thus, if there’s a mutual fit and a relationship, then yes, it’s very common for children of clients to continue working with us. We understand that not every situation makes sense, nonetheless, we always strive to make ourselves available and provide prudent advice in the process.
🙋♀️ Have Questions About Financial Planning For Your Upcoming Retirement?
📰 Browse Related Articles
About the Author
Brian Thorp
Founder and CEO, Wealthtender
Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.
With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.
To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Read our editorial policy and terms of service to learn more. Wealthtender is not a client of these financial services providers.
➡️ Find a Local Advisor | 🎯 Find a Specialist Advisor