Widow with Limited Financial Management Experience
At age 65, this client was a recent widow with three grown children, and five grandchildren. She and her late husband had owned a business, and he made all of the major financial decisions during their marriage. She was very concerned and anxious that she had no personal finance experience in investing outside of bank accounts. She was afraid to invest in the stock market and wanted to have more control over her financial situation. She needed understanding.
All of her investments were in money markets and certificate of deposits and passbook savings account. Additionally, a trust had been established at her husband’s death for her heirs that required her to allocate to a more growth and income oriented portfolio. She wasn’t really comfortable with the appointed trustee of her assets.
Worth more than any investment product was taking the time to educate our client. She was eager to learn more and be a confident decision-maker for herself. We helped her change trustees on her estate plan, and hire money managers she felt confident in. She put together a college plan for her grandchildren and ultimately gained the control she so desperately needed.
Case study results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. No representation is made as to the accurateness of the analysis.