Wealth Now & Wealth Later
I want the opportunity to manage your investments and grow your long-term wealth, but in order to do so you need to be financially secure NOW. Otherwise you’re only one emergency away from being broke, which isn’t good for either of us.
Wealth management is a holistic structure built upon a foundation of protection and supported by pillars of financial planning, consulting, estate planning, and tax management to achieve goals — Now, Soon, and Later.
The terms “protection” and “risk management” are generally code words you’ll hear from financial professionals who don’t want to use the word “insurance” because, let’s face it — talking about or buying insurance is right up there next to a used car negotiation or maybe a root canal.
However, as a fee-only RIA and fiduciary advisor, I can objectively advocate for the critical role that insurance plays in a financial plan without trying to sell you anything.
Additionally, I have a focused expertise on estate & business planning, which makes Canopy Financial Solutions a much more competent and easy choice for mass affluent or high net worth clients. Nonetheless, regardless of your net worth, I will consider your situation and objectives and provide honest feedback on my ability to work with you.
My approach to financial planning and consulting is to to give real-world solutions by providing point-in-time advisory services. Based on my time and experience in the wealth management industry, this simplified approach results in more accurate and timely advice and is more cost efficient to the client compared to an ongoing comprehensive planning agreement that many professionals recommend — where their deliverable is a software or A.I.-generated conglomerate of information in an attempt to dazzle and overwhelm with quantity (often as a substitute for quality) content.
Bottom line — you want your assets to grow and some help managing uncertainty along the way.
That’s what Canopy Financial Solutions is about.
Other Pillars of Wealth Management
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Financial Planning & Consulting
I believe that the best financial plan involves an active investment philosophy that is Alpha-focused, and ROI driven. This is what differentiates Canopy Financial Solutions from the mundane alternatives.
As life happens, we’ll address your specific planning needs through either fixed-fee financial planning or hourly consulting to get you to the solution that meets your needs — whether it is a comprehensive retirement forecast, tax distribution strategy, employer benefits review, or some other point-in-time concern that keeps you up at night.
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Protection & Risk Management
Transfer risk from yourself to an insurance company through affordable policies that meet your needs. Whether it’s personal, family or business related, Canopy Financial Solutions can help you close your coverage gaps and objectively recommend insurance needs to make sure you are protected from uncertainty.
Protect your income with Disability Income Insurance.
Protect your family with Life Insurance.
Protect your dignity with Long Term Care Insurance.
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Estate & Succession Planning
Your financial plan shouldn’t stop working for you at the end of your life. In fact, these are most important times to consider how your final wishes and legacy will be carried out.
Estate planning is not just for the wealthy. New legislation and tax code changes are inevitable, which makes it necessary to have updated legal documents in place that align with your goals and wishes.
Examples include: Wills, Trusts, Powers of Attorney, Advance Directives, Charitable Giving, and Life Insurance.
If you’re an entrepreneur, succession and continuation planning is like an estate plan for your business.
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Emergency Preparation & Bucketing
Bottom Line:
Don’t let a common emergency sink you into debt because you weren’t prepared. Start saving your money with a “pay yourself first” mentality. Establish a secure emergency fund and other “buckets” that align with your timeline and goals — things like college savings, new home down payments, or just grow normal life assets for “dream big” goals.
Canopy Financial Solutions investment clients all have access to Altruist Cash, a high yield, FDIC insured (up to $6M) savings account with no fees or expenses — a great place to set aside 4-6 months of monthly expenses to knock out that emergency fund.
If you’re not quite there, ask me how you can improve.
FAQs
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Because of the wide-ranging types of financial services, industry professionals make their money differently — sometimes it’s dictated by the agency or firm, sometimes by personal preference, sometimes by credentials and licensing, and of course sometimes by profit potential.
A fee-only advisor is a financial professional or firm that provides financial planning, investment advice, asset management, or other consulting services and is compensated solely by the client.
Examples include providing advice or consulting at an hourly rate, financial planning deliverables for a flat or recurring fee, or portfolio management services where the fee is based on a client’s total account value (assets under management).
Canopy Financial Solutions does not receive commissions or incentives from trading or selling financial products such as mutual funds, insurance, or annuities.
This means my interests are aligned with yours and not influenced by a third party or commission structure.
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My primary role and value I bring to clients is through investment management. Please see the Investments Strategies page to learn more about my investment philosophy, process and fee details.
Investment clients pay a simple 1% annual fee based on Assets Under Management (AUM).
I provide regular communication when needed and we address basic and common concerns during semi-annual Client Checkpoint Reviews.
If you are already a client and desire more pointed advice and specific planning needs that require analysis, forecasting, or professional research, I will quote a flat fee based on what it will take to satisfy your need and deliver relevant materials.
For comprehensive financial planning, modeling, and forecasting: $250 per hour, which includes advice, plan preparation, plan delivery and presentation with client.
For consulting services where a client does not require a detailed deliverable but just professional advice and recommendations:$200 per hour.
*I will always discuss fee options and make sure we agree on the best path forward before officially engaging.
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No, I am not a lawyer, nor do I offer legal advice or draft legal documents.
As a Chartered Financial Consultant (ChFC), my advanced studies and case work extends beyond traditional financial representative roles and knowledge.
Additionally, I have a fully disclosed role (OBA) as a consultant for Brick City Law, a business and estate planning law firm in Sanford, NC.
Also, proud to disclose that my wife, Jessica, is the founder and the attorney that I trust most to provide expert legal solutions to my clients.
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Everyone has a unique situation that lends to different advice and solutions along the way; however, here’s some examples:
Protect Your Property
Home, auto, and umbrella insurance
Business liability and overhead (if applicable)
Protect Your Income
Establishing a Bucket Strategy and savings plan
Emergency fund with guaranteed growth and protection
Disability income insurance
Protect Your Family
Life insurance (term, universal / IUL, whole, variable)
Protect Your Dignity
Long term care insurance
Protect Your Health
Health / medical insurance
HSAs / FSAs
Medicare
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It is true that most group benefit plans do include many of the insurance coverages listed above.
It’s important to recognize that your “group” coverages are valid only for as long as you are a member of that group. That means if you lose or change employment, you lose that coverage - your protection portfolio is highly exposed to risk along with your family.
Group benefit options often have coverage limits that may not provide adequate protection for your specific needs.
While group benefits are certainly great, they are not customized for any particular person so it is wise to do a complete review or Needs Analysis to identify coverage gaps and create a more enduring protection portfolio.
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I believe it’s necessary to have different “buckets” of money to accomplish different goals.
I’ll try to explain by differentiating between SAVINGS and INVESTING.
Savings means the money you defer or set aside on a recurring basis for certain goals like retirement, emergency fund, college savings, vacation fund, or planned major purchases. It should occur naturally and automatically with a “pay yourself first” mindset.
Investing involves working with me to determine your objectives, risk profile, and time horizon, and then allocating your savings into a portfolio or investment strategy.
A Bucket Strategy helps break down these investment objectives into more appropriate risk/return strategies depending on whether the goal is NOW, SOON or LATER.
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When you have a real life emergency, the last thing you need is more uncertainty.
Your emergency funds should reside in a high yield savings or money-market account where it is safe (FDIC insured) and liquid - able to be converted to cash and typically accessible within 24-48 hours.
All Canopy Financial Solutions investment clients have access to Altruist Cash, a high yield savings account (currently 4%) offered through my chosen asset custodian, and there are zero costs or fees involved.