The goal of the LRVS Advisory group was to identify the goals of the client, both short and long term, and create a fluid plan to a successful path to achieve these goals.
First, the LRVS advisor looked at the couple’s savings strategy. The couple was saving as much as they could into cash. The LRVS advisor created a staged savings strategy, meaning depending on the time of their lives the amount they save would be different. For example, the couple was saving about $5,000 a month before they had children. When their first came along they decided they would need an extra $1,000 a month for childcare expenses, and when they had their second child, they allocated another $1,000 that they would need, leaving them saving $3,000 a month. Once their children went to school, they would save more each month.
Next, the advisor looked at the couple’s investment assets. The couple had a large, concentrated position in both of their employee stock, around 80% of their total investments. The team diversified and systematized their investment process. The advisor created a tiered limit order for the couple’s company stock, taking the stress and emotion out of selling the stock. A tiered limit order set into place automatic selling of the company stock if it hit a certain amount and defined date.