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WEALTH MANAGEMENT

ONYX Financial is counted on by all kinds of individuals to help them create and implement financial plans, and we have also developed a special expertise in addressing the unique needs of business owners.

Businesses have unique challenges and unique opportunities for creating wealth. As a result, managing that wealth requires much more than most people think. Our years of wealth management planning, along with our thriving group insurance and group retirement practices, allow us to better serve the extensive planning needs of business owners.

Our Wealth Management Planning Approach

Managing wealth is different than having wealth. The purpose of wealth management is to ensure that one makes the best use of the wealth they’ve created; to protect it; and to grow it. It requires a certain level of discipline to do this, but it becomes easier when there’s an intelligent and practical plan in place.

Working in tandem with your accountants and lawyers, we’ll help you develop a wealth management plan that is actionable and relevant.

The ONYX Wealth Management Process has evolved out of a few decades of working with clients to help them craft an approach to funding their future, while protecting their assets along the way. It involves three phases.

 

The Wealth Profile™

Our initial step is to understand your current situation, your goals, your key areas of concern, the risk management issues you might be facing, as well as your earnings and family budget. Having an accurate wealth profile creates the foundation for all planning. It clarifies where you are, and where you want to go.

The Insight Advantage™

After we develop The Wealth Profile™ together, our next step is to conduct an extensive analysis of your information to identify opportunities and approaches to meet your goals and objectives. The Insight Advantage™ involves running financial scenarios, risk assessments and data modeling to find the most important areas that will have the biggest impact.

Future cash flow requirements, financial structures (trusts and corporations), tax considerations, asset allocation, and protection strategies flow out of this analysis and reveal the key insights that will make the difference in achieving your goals.

The Future Formula™

The final stage of the process is The Future Formula™. Based on our analysis, we will present a summary of clear options that can support the achievement of your objectives. Our clients are accustomed to evaluating their alternatives and making decisions. As such, the analysis we provide includes the “pros & cons” of each option so that you can make informed decisions; ones where you’re in control.

We’ll then provide prioritized recommendations that will create an action plan to help you act on your objectives. In addition to this, The Future Formula™ uses a regular system of ongoing assessment, update and revision to address changing conditions that would affect your goals.

Plans are not static; they change over time. However, having a plan allows you to know if you’re on track and how to adjust when necessary.

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