How Our Advisors Bring Value and Expertise to Our Clients
How Our Advisors Bring Value and Expertise to Our Clients
At Centura Wealth Advisory we bring value and expertise to our clients by deeply understanding their goals and objectives on both personal and financial levels.
When client goals are addressed and discussed thoroughly from the beginning, then the process of managing their wealth becomes a collaboration. So, what does our typical client look like, and how do we separate ourselves from other wealth advisories?
How Centura Serves Our Client Base
Our niche clientele falls into four unique groups.
Although all our clients are typically high-income earners, this includes families, businesses, and individuals. High-income earners generally make $500,000 or more annually, however, it depends on the situation.
Individuals Experiencing Money in Motion Events
A large portion of our clientele base is people experiencing money-in-motion events. In other words, there are life or business events that are going to involve large amounts of money coming to an individual. Some examples of money in motion events are:
- Inheriting large sums of money, property, or business assets
- Businesses changing ownership
- Business growth
- Mergers and acquisitions
High Estate Values
Many of our clients have high estate values (which is considered 25 million or more). We add value by implementing diversification in their portfolios while addressing tax abatement and legacy planning geared to these high-value estates.
Clear and regular communication with all clients is important, but it is especially important with high estate value clients because there are often multiple generations involved and increased business, real estate, and legacy complexity.
The constantly changing tax laws can negatively impact the value of these large estates. Because of this, we are always adjusting tax strategies to optimize our clients' planning for minimal taxes.
High net worth individuals and those with large estates, have to plan efficiently and with enough lead time to implement intelligent tax strategies. We have some strategies for talking to your aging family members about wealth and inheritance. Read our blog to learn how to create the space to have healthy conversations with your loved ones when there is significant wealth on the line.
Business Owners and Executives
Business owners and executives are already dealing with the stress of their industry constantly changing, so it’s crucial for them to partner with a wealth advisor that can help alleviate some of the stress of running a business.
From the perspective of the advisor, being proactive and understanding the changing market is integral to providing valuable insights.
How Does Centura Create Connection with our Clients?
Many of our clients come to us through our trusted referral partners. Because we strive to provide real answers to the questions high-income earners, high-net-worth individuals, and families with large estates face, we are always working to build trust and connection.
Our Liberated Wealth® process provides the blueprint for our ongoing engagements with clients. Initially, we evaluate what level of technical expertise is needed for each client’s individual plan, and assess what the timeline might look like for them. Our plans address strategies for the long term and short term, addressing goals as well as what may be coming in the next six months.
Planning requires that we look not only at the life-goals of clients but also: What are the most actionable things we can do for near-term benefits?
What Problems Do Our Clients Face?
At a high level, our clients typically face four problems:
For clients who come to us with an annual income of $1 million or more (if they reside in California) without strategic tax planning, they could pay up to $400 hundred thousand in income taxes. With well-designed tax strategies, however, we can help them save 20 to 50% of that tax burden.
Wealth Transfer Taxes
Wealth transfer taxes are also referred to as the Generation-Skipping Transfer Tax (GSTT) applies to transfers of more than $11.5 million dollars (2021). We help clients navigate the costs and understand direct and indirect transfers when dealing with GSTT.
Balance Sheet Optimization
Most clients require some level of balance sheet optimization. Our advisors look at assets and liabilities and how our clients’ wealth is insured against certain risks.
State Tax Administration
Our wealth advisors know the importance of staying on top of the California Department of Tax and Fee Administration. This means evaluating their portfolio and cash flow plan and providing the kind of administrative work that takes the burden off of clients.
At Centura Wealth Advisors, we recognize that simply uncovering an issue in a portfolio is not where we bring our value, our value lies in presenting the right path forward for our clients. Our Liberated Wealth® process, elevates planning and provides a blueprint for processes and communication with our clients facilitating an understanding of our clients on a deeper level.
How We Keep our Clients Engaged with Planning
Since market and tax environments are always changing, we at Centura are dedicated to being proactive, offering solutions that are timely and relevant to each client’s portfolio and situation.
Part of establishing long-term relationships with our clients is understanding their investment and estate planning goals and gaining deep knowledge of their business and wealth structures. Knowing our clients on a personal level helps us understand why our clients have the goals they have and what is important to them. Some of the key questions and points we consider when communicating with our clients include:
- What are they passionate about
- How do they like to communicate
- How do they best process information
- (i.e. One client might value a visual white paper, while others prefer a verbal or video explanation)
Having a diverse client base means being able to pair the right communication style, cadence, and method for the right client.
Are you worried about what changes are coming for Estate taxes in 2022? Learn what to expect from the upcoming changes on our blog.
Centura Wealth does not make any representations as to the accuracy, timeliness, suitability or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.
We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.
For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.