Dear WSP Family & Friends,
Is it time to get control of your assets in “no man’s land”?
When we sit down with families during their financial planning meetings, one of their biggest challenges and frustrations is trying to find their “no man’s land” assets. So, what exactly are they?
If you’ve ever made one of the following statements, you have an asset in “no man’s land”:
- “Well, I had this old retirement plan at my previous employer. I no longer get statements and I have no clue what the password is. Whenever I have time, I need to take care of that.”
- “I have an account at a brokerage firm and the original advisor left 5 years ago. They have passed my account to three or four people since. I don’t even know who the advisor is anymore.”
- “I inherited this account from my favorite uncle and it is still at his old brokerage firm, but he has never talked to his advisor.”
- “I went through a divorce and the assets were split, but everything is with my ex spouse’s advisor who never talks to me.”
- “I have a 401(k) plan at work that has become a major part of my retirement and I am not getting any advice. I don’t even know how it is being invested.”
So, why is it important to get control of your assets in “no man’s land”? Once you add them up, they become a major and important piece of your wealth management planning. They need to be managed properly to ensure accurate asset allocation and proper diversification. Consolidating these assets also creates greater viability/reporting, simplified bookkeeping, and eliminates conflicting advice.
Almost all of us have something in “no man’s land”. Luckily our team has the experience to easily help you consolidate them and ensure they are managed efficiently and strategically as part of your overall planning.
It’s important to rescue these from “no man’s land” in order to keep your house in order. Let us help make it easy! Make an appointment today by replying to this e-mail or calling our office.