The KMI Difference
The differences we offer are in incentive, performance, reporting, and last and most importantly, safety.
KMI Wealth & Tax ManagementWe are investment & tax management consultants. There are four major differences between what we do as consultants from what your broker, banker, financial planner, insurance agent, or any other financial... read more
Our Services
FOR BUSINESS OWNERS
FOR BUSINESS OWNERS. Whether you are a seasoned business owner or just starting a new company, we make your job easier by providing everything your business needs from one trusted source, backed with the strength and experience of our professional advisors.
• Business Consulting• Accounting and Financial Reports
• Payroll Services
• Tax Services
• Financial Management Services
FOR INDIVIDUALS
Over the past several years, we’ve earned the trust and confidence of individuals by serving their personal financial and tax needs. Our commitment to service extends to the information and resources that we provide year-round to help our clients make informed decisions on personal tax strategies, retirement, saving for education, estate planning, personal investments, and much more.
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• Overall Financial Planning • Investment Strategies & Allocation • Tax Planning Strategies • Education Funding • Estate Planning/Wealth Preservation • Trust Review • Retirement Planning |
• 401 (k)s • Profit Sharing Plans • IRAs • Insurance Plans • Real Estate Programs |
Kelley Morgan Inc. (KMI) advisors develop with, and implement financial plans for, their clients. We recognize that each client, family or business has its own unique set of goals and objectives. These specific circumstances drive the customized financial plan we create for each client, and that plan may include elements from any / all or several different planning areas.
Below is a brief description of the six principal different planning areas addressed by our advisors:
Cash & Debt Management
Investment Planning
Retirement Income / Educational Planning
Risk Management/Insurance
Estate Planning
Business Continuation & Succession Planning
1. Cash & Debt Management
One of the foundations of good financial planning is determining the best use of cash and debt. We at KMI will assess your existing cash and debt situation, and offer a recommendation as to the most efficient use of your cash, and whether or not your debt is most optimally structured. We can also assist you in developing a personal budget, if required.
2. Investment Planning
How your investments are structured will, in part, determine your tax situation, your risk exposure and the potential return on your investments. Your portfolio will be assessed, and recommendations will be made based on, among other things, your objectives and risk tolerance. Asset allocation will be discussed, and we will suggest alternative investments to you, as appropriate for your situation.
3. Retirement Income Planning
Personal retirement savings, employer plans, and non-registered investments, generally form the basis for most individuals’ retirement income. All of these areas will be addressed, and recommendations will be made based on your retirement goals, your current and (likely future) tax status, your family situation and your risk tolerance. We will consider the integration of government-sponsored income plans with your personal portfolio in order to structure your retirement income in the most efficient manner possible.
Educational Planning is also one of those areas in which the needs will be addressed. Asset allocations will be recommended as well as funding requirements and which tool(s) is most appropriate i.e. 529 Plans, Stafford Loans etc…
4. Risk Management/Insurance
For many people, protecting their family and assets is of utmost importance. We will analyze your protection needs, assess any existing programs you may have, and advise you of areas requiring attention. These areas may include life insurance, key person insurance (should you be a business owner), disability insurance, critical illness insurance, long-term care coverage and extended health insurance.
5. Estate Planning
Ensuring the orderly transfer of a client’s estate to his or her beneficiaries usually forms a substantial part of that client’s financial plan. We are knowledgeable about the tax laws governing the transfer of investment and other assets at death, and can advise you as to the most favorable manner in which to structure your current holdings. If required, you will also be advised on the subject of “living wills” and powers of attorney, and can be referred to a lawyer for more detailed estate planning at your request.
6. Business Continuation & Succession Planning
Most business owners want to know that, in the event of their death or disability, their business will either (a) continue to operate smoothly under new management/ownership; or (b) will cease operations and an orderly transfer of assets to beneficiaries will occur. Careful tax and investment planning will assist you in meeting your personal objectives for the future of your business.
The advisors at KMI are committed to looking at the big picture. Although (based on your circumstance) some of the areas noted above may not become part of your customized financial plan.
Proactive Financial Advisory Service Offered Through KMI
Our Proactive Financial Advisory Service includes the following:
I. Insurance Advisory Services
A. Insurance Policy Statement – your specific goals for your insurance program.
B. Annual Review of Insurance – to ensure compliance with your insurance policy statement.
1. Life Insurance
2. Disability
3. Health
4. Long-Term Care
5. Property, Casualty, and Liability
II. Income Tax and Cash Flow Advisory Services
A. Tax Bracket Management – Annual review of most efficient way to meet your current and future cash flow needs, while minimizing taxation.
B. Annual Tax Packet – the items noted below are delivered to your accountant to aid in the preparation of your taxes so they can spend more time analyzing your tax information than tracking it down.
1. Investment gains and losses
2. Investment fees
3. Investment interest expense (margin)
4. Family Gifting Summary
5. Charitable Gifting Summary
C. Annual meeting with accountant – review current year tax projection and impact of any current tax reform.
D. Tax sensitive investment advice – focus on after-tax rates of return, tax loss harvesting, and other tax sensitive strategies.
E. Quarterly estimated tax payments – coordinated with accountant as needed.
III. Employer Stock Option Advisory Services
A. Specific tracking of employer stock options.
B. Specific recommendations on what and when to exercise in order to accomplish your goals and objectives.
IV. Investment Advisory Services
A. Investment Policy Statement – documenting your objectives and expectations for investment allocation and portfolio performance.
B. Quarterly Review of Investments – quarterly report comparing your portfolio’s performance to specific expectations and benchmarks, instilling disciplined portfolio management.
C. Investment allocation and reallocation (as needed)
D. Specific investment manager recommendations (as needed)
E. Investment Transaction Administration – detailed tracking of cost basis and transactions for tax purposes.
V. Estate Planning Services
A. Estate Policy Statement – documenting your specific objectives for what do you want to do with your estate and why in order to assist your attorney with the customization of your estate plan (reviewed and updated annually).
B. Estate Flowchart – visual illustration of your current and/or proposed estate plan. Reviewed and updated as necessary to ensure compliance with your estate policy statement.
C. Annual meeting with attorney – review your current estate plan and any significant tax law changes.
D. Family Gifting Summary – annual summary of gifts to family members to be included in your Annual Tax Packet.
VI. Charitable Advisory Services
A. Charitable Gifting Policy Statement – documenting your specific desires for what you want to give, how do you wish to give it, and to whom? This is closely integrated with your estate plan.
B. Charitable Screening – helping to identify the “best” charities based upon specific criteria
C. Charitable Gift Administration – initiating transfers and maintaining detailed records to be included in your Annual Tax Packet
D. Charitable Gifting Summary – current vs. previous years, as well as a comparison to Charitable Gifting Policy Statement
E. Consideration of charitable trusts, foundations, supporting organizations and donor-advised funds
VII. Additional Services
A. Net Worth Statement Preparation – personal, children, trusts, partnerships, etc.
B. Debt Management – efficiently structuring debt to accomplish goals
C. Family Meeting(s) – gathering(s) to openly discuss family and other financial issues
D. Retirement and Wealth Accumulation Illustrations – modeling and monitoring of progress towards wealth accumulation goals
E. Educational Funding – children and grandchildren. Includes analysis of trusts, 529 plans, Education IRAs, and custodial accounts
F. Miscellaneous Services – Annual review of your credit report; annual review of national unclaimed property databases.
