Business Description

FINANCIAL PLANNING AND COUNSELING Summit assists business owners, executives and high net worth individuals prioritize their financial goals and objectives, evaluate their current income and net worth and develop the plans and products necessary to achieve their goals and objectives. Summit also considers retirement planning an essential service. As the population ages, longevity increases and the economy withers, a need exists to evaluate retirement assets and income to determine the best structure for insuring sufficient resources during retirement years. This division also provides “eldercare protection” and “business financial planning”. Included, as an important component of these services is “Effective Retirement for Family Business Owner-Manager”. In addition to financial planning, this division offers “Financial Counseling” consisting of developing financial strategies and financial solutions to rectify specific financial problems or develop an overall financial strategy without the inherent risk associated with developing a financial portfolio. The Financial Division consists of two groups:  Financial Planning.  Financial Counseling Summit Financial Services Group, Inc. Office: 257 South Middletown Road Telephone: (845) 627-0003 Nanuet, New York 10954 Toll Free: (877) 281-8342 FINANCIAL PLANNING PROJECT Problem: Client considering early retirement needed assistance in reviewing his retirement assets and projected income streams. Solution: Performed comprehensive retirement planning including the risk factors associated with his portfolio and the projected return on his investments. Lowered the return on investments, suggested more conservative asset allocation and developed an income stream based on a lower interest rate and an annual lower cost of living. Also recommended long-term care insurance for both him and his spouse. Results: Planning reflected that he could retire earlier, achieve the living style proposed and trade off some risk on his investments and possible future health problems. Summit Financial Services Group, Inc. Office: 257 South Middletown Road Telephone: (845) 627-0003 Nanuet, New York 10954 Toll Free: (877) 281-8342 FINANCIAL COUNSELING PROJECT Problem: Client brought in “Living Trust” to review because she was unsure that this was the appropriate document for her estate. Solution: Reviewed and prioritized her concerns, goals and objectives. Based on her concerns requested that she discuss her objectives with those family members contained in the trust. Results: Based on this discussion it became clear that the “Living Trust” was inappropriate for her requirements. Decided that her original will should remain in place and that she consider disposing of special items to particular family members by “gift giving”. Problem: Newly weds needed to start a financial program to consider their present assets, liabilities, income and expenses and future goals. Solution: Reviewed and prioritized their concerns, goals and objectives. Analyzed their liabilities, income and expenses. Reviewed the cost of their present and future goals. Reduced discretionary spending, developed a solution to repay debts without using present assets and set up guidelines to generate funds for future goals. Results: Plan showed their mutual goals and objectives and assisted in resolving the goals and objectives that differed. In addition, they agreed on which spouse would be financially responsible for implementing the plan, adhere to the guidelines for paying off the debt and insuring saving guidelines were met.

Services Offered

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