To provide our clients with innovative financial planning services, we’ve designed Life Plan 20/20® to offer a wide-range of financial strategies for all areas of your personal and business lives. We’ve taken portfolio management, estate and retirement planning, tax and insurance advice and other important financial services and combined them into one comprehensive program designed to help keep your life goals on track.
As the name suggests, Life Plan 20/20® brings clarity to your financial situation, and begins with an in-depth analysis of your stage in life, your goals and your potential for success. Our process is focused on performance while managing risk, securing retirement while maintaining lifestyle goals as well as sustaining financial independence.
The result is a tailor-made strategy to fit your life plan managed by an experienced and knowledgeable advisor backed by a professional network of some of the most respected experts in the industry.
What to expect as a Life Plan 20/20® Client:
- You’ll feel your overall finances are more organized
- You’ll know your estate plan is up-to-date
- You’ll have someone working with you to reduce your tax burden
- You’ll know you have enough life insurance and are paying a competitive premium
- You’ll know what your retirement cash flow will look like
- You’ll have a greater feeling of overall financial security
Life Plan 20/20® Features
- Access around the clock to comprehensive, consolidated reporting of your assets
- Aggregated Asset Allocation
Investment Planning & Management
- Customized investment plans
- Asset Allocation
- Regular Performance Reviews
- Online Updates
- Goals and Objectives
- Cash Flow Projections
- Benefit Elections
- Rollover Options
- Social Security Planning
- 529 Plans
- Savings Analysis
Income Tax Planning
- Tax Reduction Strategies
- Use of Approved Stock
- Intra-Family Transfers
Legal & Estate Planning
- Update wills, trusts, and POA’s
- Achieve Legacy Goals
- Tax Strategies
- Access to in-house attorney
- Life Insurance
- Disability Coverage
- Long Term Care
- Property-Casualty Insurance
Charitable Gift Planning
- Donor Advised Funds
- Charitable Trusts
- Gift Annuities
Enter your information below to get in touch with a D.B. Root & Company financial advisor and get started with Life Plan 20/20®!
Life Plan 20/20® FAQs
What is Life Plan 20/20®?
Life Plan 20/20® is a comprehensive planning service offered exclusively by D.B. Root & Company. We work hand in hand with clients to gain a full understanding of their current financial position and their goals, then help them implement and take action on our recommendations. Life Plan 20/20® is an ongoing client service, which does not end at the implementation of recommendations.
How does this differ from other planning services?
Life Plan 20/20® never sleeps. We aren’t just available for questions as needed. We take a proactive approach to getting things done by staying plugged into the impact of tax and policy changes, how to take advantage of changes to retirement plans, the impact of ongoing fluctuations in financial markets to client portfolios and other factors we need to keep you informed of. Unlike what you may find elsewhere, our fee schedule is completely transparent, so you will always know exactly what you are paying for.
What type of software does Life Plan 20/20® use?
Life Plan 20/20®’s sophisticated planning software, Money Guide Pro, simulates thousands of scenarios to illustrate a series of probable outcomes based on client goals and input. We can provide up to the minute analysis of your projected social security income, pension and deferred compensation plans, stock option and restricted stock, investment assets, employer sponsored retirement plans, life insurance, disability insurance or any other part of your plan. Interactive software allows you to see plan outcomes change in front of your eyes based on certain adjustments (increased savings, increased spending during retirement, purchasing a second home, etc.).
What information is required?
Any plan is only as good as the accuracy of the information we gather together. Our comprehensive checklist makes sure we cover all bases. All data collected is obtained for a reason, whether it be analyzing the type and amount of life insurance you have or examining your beneficiaries to ensure that they are up to date. We request account statements, insurance policies, wills, trust documents, powers of attorney, tax returns, social security statements, pension offerings, and other pertinent information. In addition, Life Plan 20/20 can keep your household organized by serving as an office for these important documents, which are available upon request.
What type of service can I expect?
Our introductory meeting spells out Life Plan 20/20® and what you can expect from us as well as what is needed from our clients. During this meeting we collect data and information, learn about what is most important to you, prioritize your goals, and discuss next steps. You then receive a written summary of our meeting and a contract agreement. After collecting additional data, if necessary, we present your plan and our recommendations. We then determine the review schedule and begin to implement the action items.
What will I receive?
- Statement of Financial Position – Net Worth
- Cash flow analysis
- Insurance analysis – Life, Disability, Group, Umbrella, Long Term Care
- Asset allocation analysis
- Tax return analysis
- Hard copy of the plan
- Online access to the planning software
- List of action items
- Accountability ledger – reflects completed items and outstanding items for completion
- Personal introduction to other professionals – Attorneys, CPAs, Bankers, P&C Insurers