Graham (56) is a Tampa-based corporate executive for a multinational firm that does business in several South American countries. He is married to Susan (55), who runs a successful marketing agency. Their son is entering his final year of college, and their daughter, who is out of college, is expecting a child soon.
Graham receives a considerable base salary along with corporate compensation benefits. He has been a diligent saver in a company-sponsored retirement plan over the years, as has Susan. They both feel they are moving in the right direction to retire in the next five to ten years.
Their money and investments are currently managed by a large, brand-name bank with whom they have had a relationship for several years. Over the past few years, they have noticed service decline and multiple new advisors involved in managing their assets: they felt they were no longer a priority in their bank’s eyes, suspecting the size of their portfolio was no longer large enough after spending on schooling for their children and covering the cost of a wedding.
Between not great performance and the lack of customer service, Graham and Susan look for a different solution that places their needs first.
In addition to building up his retirement plan, Graham and Susan have invested in several rental properties throughout the Tampa area over the years. Additionally, they own two condos in Orlando that they list regularly on Airbnb. These properties have generated passive income for Graham and Susan.
While Graham and Susan have worked hard to get where they are, they are concerned about shifts in the economy they are beginning to see. Recent market volatility has impacted the value of their savings (both retirement and non-retirement). Inflation is also a cause for concern. For instance, their Orlando condos, typically rented out through most of the year, have been sitting dormant as the cost of theme parks in Orlando has risen so much.
While Graham is confident his position is stable, his company has started announcing hiring freezes and potential layoffs as economic changes continue. Given these changes, they want to diversify their assets better to protect themselves against future market instability.
Challenges
- Graham and Susan are looking for a highly customized and attentive wealth management team to put them first and provide excellent customer service.
- Graham and Susan are concerned that the United States economy may soon experience a recession
- Their current portfolios are mainly slanted towards US-based stocks, and they don’t want to have all of their “eggs in one basket”- they feel the need to be better diversified.
- Perception to be treated as “second-level” clients as if their account’ size made their priorities and needs misaligned from the bank’s ones.
- They are considering selling their Orlando condos but aren’t sure what to do with the proceeds.
- They are concerned that they may have too much equity in real estate holdings should a U.S.-based recession impact the housing market.
Solution
Graham and Susan were introduced to the LFA team. Upon talking with them, they realized that their investment needs were carefully analyzed and taken care of, and the customer service standards offered by LFA were also aligned with their expectations.
After much discussion and analysis, the decision was made to sell the Orlando condos and invest the proceeds in a blend of international investments, US-based investments, and Swiss francs.
Graham and Susan both valued the stellar customer service of working with LFA, as they felt that the team went above and beyond their expectations. They were always communicative and easy to talk to, and they enjoyed the personal human touch they brought to the table, as many people they have worked with in the past seemed inaccessible and not as personable.