Collaborating with You and Your other advisors
At RCL Advisors, LLC we believe that a well-coordinated team of professionals devoted to serving our clients in an integrated manner is one of the keys to providing successful wealth management services. When requested by our clients, we can play the role of the team quarterback and frequently refer our clients to top attorneys, accountants, bankers, bookkeepers, insurance agents, etc. to meet our clients’ needs, and have no desire to replace any existing qualified team members.
Collaborating with Your Accountant
In order to make sure our clients’ accountants receive the information they need to perform their services, we assign one of our Operations Group professionals to be responsible for providing accountants with the information they request. Our Operations Group seeks to not only respond effectively to accountants’ requests, but to also anticipate the information the accountants require in order to make this process efficient. This information includes, but is not limited to, the following:
- Portfolio interest, dividends, other income received
- Realized portfolio capital gains and losses
- Portfolio fees and other expenses paid
- IRA contributions and Roth IRA conversions
- Charitable contributions of appreciated securities
- Interest paid/received on loans we manage
- Interest paid on loans used for deductible purposes
- List of all K-1s as well as the date expected to be received
- Distributions we implemented from family partnerships
- Assets transferred to non-charitable beneficiaries
- Extraordinary taxable income received or deductions incurred
Collaborating with Your Attorneys
We regularly work with our clients’ attorneys to assist them in acquiring the information they need to efficiently prepare legal documents. In addition, we routinely discuss the provisions of our clients’ estate plans to identify any changes that need to be made to their Wills and other estate planning documents. To the extent that any changes are needed, we remind our clients to get the revisions implemented quickly. In addition, we routinely quantify the amount of current assets we believe they could prudently transfer to their heirs and/or charity and work with their attorneys to implement these strategies in a manner that maximizes the tax-free transfer of their portfolio assets to meet their objectives.
Collaborating with Your Bankers
We routinely work with bankers pursuant to our clients’ requests to negotiate more favorable financing terms and prepare required paperwork for their review and signature. In addition, we regularly meet with our clients’ bankers to enable us to become familiar with all the products and services offered by the banks. Our network of bankers allows us to identify products which may be appropriate to meet specialized client needs as well as negotiate favorable fees and services for all our clients.
Collaborating with Your Insurance Agent
We regularly meet with our clients’ insurance agents to review their policies and confirm that their coverages are cost-effective and sufficient to meet their needs. To the extent that it appears additional coverage is needed and/or any existing coverage should be reduced or modified, we work with their existing insurance agents as well as other insurance professionals to identify appropriate solutions. We then consult with our clients to assist them in making these important decisions.