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Wealth Management in Cicero NY
70+ Years of Guiding Our Clients Towards a Brighter Future
Your Guide to Wealth Management with DeFreitas & Minsky LLP
Wealth management is the art and science of managing your financial life comprehensively. At DeFreitas & Minsky LLP, we understand that your wealth is more than just numbers – it’s your legacy, your future, and your peace of mind.
Serving Cicero, NY and beyond, our expert team offers personalized strategies that integrate tax planning, estate planning, and investment guidance to help you build and preserve your financial masterpiece.
Why Wealth Management Matters
Effective wealth management helps you optimize your financial resources, reduce tax liabilities, and plan for long-term goals. It brings clarity to complex financial decisions and ensures your assets are protected for generations. With expert guidance, you can achieve confidence in your financial future and a tailored approach that reflects your unique needs and aspirations.
About DeFreitas & Minsky LLP CPA Firm
DeFreitas & Minsky LLP is a trusted CPA firm servicing New York with decades of experience in comprehensive wealth management. Our team brings deep expertise in tax, estate, and financial planning, delivering personalized service that prioritizes your success. Though not physically located in Cicero, we proudly support clients there with remote consultations and strategic financial solutions tailored to their needs.
Understanding Wealth Management
Wealth management is a holistic approach that combines investment management, tax planning, estate planning, and financial advice. It is designed to help individuals and families grow, protect, and transfer their wealth effectively.
Our process includes analyzing your current financial situation, identifying goals, and implementing strategies that balance risk and reward while minimizing tax exposure.
What is Wealth Management?
Wealth management is the coordinated management of all aspects of your financial life, including investments, taxes, estate, retirement, and risk management. It integrates expertise across disciplines to create a customized financial plan aligning with your personal and family objectives.
Core Components of Wealth Management
Key elements include: comprehensive financial analysis, tax-efficient investment strategies, estate and trust planning, retirement planning, and ongoing portfolio monitoring. Our approach ensures your financial plan adapts to changing circumstances and market conditions.
Important Wealth Management Terms
Understanding essential terms empowers you to make informed decisions. Here are some key definitions:
Estate Planning
The process of arranging your assets and affairs to manage and distribute your wealth according to your wishes after death, minimizing taxes and legal complications.
Tax Planning
The strategic analysis of your financial situation to minimize tax liabilities and maximize after-tax income through legal methods.
Investment Management
The professional management of your investment portfolio to meet specified financial goals while managing risk.
Trust Services
Administration of trust arrangements where a trustee manages assets on behalf of beneficiaries, often used in estate planning to protect assets.
Choosing the Right Wealth Management Approach
Wealth management can be approached with either limited or comprehensive strategies. Limited approaches may focus on a single aspect like investment management, while comprehensive services integrate multiple financial disciplines for a cohesive plan.
When a Focused Approach Works:
Simple Financial Needs
If your financial situation is straightforward with minimal assets and uncomplicated goals, a limited focus on investments or tax filing may suffice.
Cost Considerations
For clients prioritizing cost savings over comprehensive planning, targeted services can provide value without the expense of full wealth management.
Benefits of a Holistic Strategy:
Complex Financial Situations
Clients with multiple income streams, diverse investments, or substantial estates benefit from integrated planning to optimize outcomes and reduce risks.
Long-Term Goals and Legacy
Comprehensive services align your financial plan with your long-term objectives including retirement security, wealth transfer, and philanthropic goals.
Advantages of Choosing Comprehensive Wealth Management
A comprehensive approach ensures all aspects of your financial life work synergistically. This reduces inefficiencies, uncovers tax savings, and provides clarity in decision-making.
You gain access to a team of experts who coordinate strategies across investments, taxes, estate planning, and risk management, offering proactive advice as your circumstances evolve.
Integrated Financial Planning
Combining multiple financial services creates a seamless plan that addresses your entire financial landscape, avoiding conflicting strategies.
Personalized and Adaptive Strategies
Your plan evolves with your life changes, market shifts, and regulatory updates ensuring your financial goals stay on track.
Practice Areas
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Expert Tips for Managing Your Wealth
Start Early and Plan Ahead
The sooner you begin comprehensive wealth planning, the greater the potential benefits. Early planning helps you harness compounding growth and optimize tax strategies.
Regularly Review and Adjust Your Plan
Financial goals and circumstances change. Schedule periodic reviews with your CPA to adjust strategies, incorporate new tax laws, and address life events.
Choose Experienced Professionals
Partnering with a firm like DeFreitas & Minsky LLP that offers comprehensive expertise ensures your financial plan is robust, compliant, and tailored to your needs.
Why Wealth Management is Essential for You
Wealth management is critical to preserving and growing your assets in a complex financial landscape. Expert guidance helps you mitigate risks, optimize tax positions, and prepare for the future.
Whether you are planning for retirement, managing a growing business, or preparing your estate, comprehensive wealth management ensures your financial strategies align with your personal goals.
When Should You Engage Wealth Management?
Certain life and financial situations make wealth management particularly valuable, including:
Significant Life Changes
Events such as marriage, inheritance, or starting a business increase financial complexity requiring strategic planning.
Approaching Retirement
Preparing for retirement demands coordinated planning to maximize income and protect assets.
Estate and Legacy Planning
Ensuring your wealth transfers efficiently to heirs and charitable causes benefits from comprehensive planning.
We’re Here to Serve Cicero and Surrounding Areas
Although DeFreitas & Minsky LLP is based in New York, we proudly serve clients in Cicero with dedicated remote consultations and tailored wealth management solutions designed to meet the unique needs of the Cicero community.
Why Choose DeFreitas & Minsky LLP for Wealth Management?
Our firm combines decades of experience with a personalized approach that prioritizes your financial goals. We provide comprehensive tax, estate, and investment services under one roof.
We stay ahead of evolving tax laws and financial regulations to ensure your strategies are both effective and compliant. Our client relationships are built on trust, transparency, and results.
From high-net-worth individuals to business owners, our team is committed to crafting financial plans that safeguard your wealth today and for generations to come.
Schedule Your Free Wealth Management Consultation Today
Our Wealth Management Process
At DeFreitas & Minsky LLP, we follow a structured process to deliver optimal wealth management services:
Step 1: Comprehensive Financial Assessment
We begin by thoroughly reviewing your financial situation, goals, and concerns.
Gathering Documentation
Collect detailed financial documents including income statements, tax returns, investment accounts, and estate plans.
Understanding Objectives
Discuss your short- and long-term goals, risk tolerance, and family considerations.
Step 2: Strategy Development
Using the gathered information, we develop a customized plan addressing investments, tax strategies, estate planning, and risk management.
Tax Optimization
Identify opportunities to minimize taxes through deductions, credits, and deferrals.
Investment Planning
Recommend diversified portfolios aligned with your risk profile and goals.
Step 3: Implementation and Ongoing Review
We assist with executing the plan and provide continuous monitoring and adjustments as needed.
Coordinated Execution
Collaborate with your other advisors and service providers to implement strategies seamlessly.
Regular Updates
Schedule periodic reviews to adapt your plan to life changes and market conditions.
Frequently Asked Questions About Wealth Management
What is wealth management and how is it different from financial planning?
Wealth management is a comprehensive service that encompasses financial planning, investment management, tax planning, and estate planning to address all aspects of your financial life. Financial planning typically focuses on specific goals like retirement or education funding, whereas wealth management integrates those goals into a broad strategy tailored to your entire financial situation. This holistic approach ensures all components work together efficiently to build, preserve, and transfer wealth.
Why is tax planning important in wealth management?
Tax planning is a critical part of wealth management because it helps minimize the amount of taxes you pay, thereby maximizing your wealth accumulation and preservation. Effective tax strategies can include timing income and deductions, utilizing tax-advantaged accounts, and employing estate planning techniques to reduce tax burdens. Integrating tax planning within your overall financial strategy ensures that investment and estate decisions are made with tax efficiency in mind, enhancing your financial outcomes.
How can DeFreitas & Minsky LLP assist clients in Cicero remotely?
Although DeFreitas & Minsky LLP is based in New York, we serve clients in Cicero and surrounding areas through remote consultations and secure digital communications. Our team uses technology to review documents, conduct meetings, and provide personalized advice without requiring in-person visits. This approach allows us to deliver the same high level of service and expertise regardless of your location, making wealth management accessible and convenient for Cicero residents.
What should I prepare before a wealth management consultation?
Before your consultation, gather relevant financial documents such as recent tax returns, investment statements, insurance policies, estate planning documents, and income details. Having this information ready allows us to conduct a thorough assessment of your current financial situation and identify opportunities for improvement. Additionally, think about your financial goals, concerns, and any questions you have to ensure our meeting addresses your priorities effectively.
How often should I review my wealth management plan?
It is advisable to review your wealth management plan at least annually or whenever you experience significant life events such as marriage, inheritance, job changes, or retirement. Regular reviews allow you to adjust your strategies to reflect changes in your goals, market conditions, and tax laws. Staying proactive with your plan helps maintain alignment with your objectives and ensures your wealth continues to grow and be protected effectively.
Can wealth management help with estate planning?
Yes, wealth management includes estate planning as a key component. Estate planning ensures your assets are distributed according to your wishes, minimizes estate taxes, and provides for your heirs and beneficiaries. We help clients draft wills, establish trusts, and implement strategies that protect wealth and ease the transfer process. Integrating estate planning within your broader wealth management plan creates a cohesive strategy that secures your legacy.
What types of clients benefit most from wealth management services?
Clients with complex financial situations, such as high-net-worth individuals, business owners, and those planning for retirement or legacy transfer, benefit most from wealth management services. These clients often require coordinated strategies across investments, taxes, estate planning, and risk management. However, anyone seeking a comprehensive approach to managing their finances and achieving long-term goals can gain value from our wealth management expertise.
How does your firm stay current with changing tax laws?
Our firm stays current with tax laws through continuous education, professional development, and active monitoring of legislative changes. We participate in industry seminars, subscribe to tax research databases, and collaborate with legal experts to ensure our strategies comply with the latest regulations. This commitment allows us to provide clients with timely advice that leverages new opportunities and avoids pitfalls.
What fees are associated with wealth management services?
Fee structures for wealth management services vary depending on the scope and complexity of services provided. Common models include flat fees, hourly rates, or a percentage of assets under management. During your consultation, we will discuss transparent fee arrangements tailored to your needs. Our goal is to provide clear value that justifies the investment in comprehensive wealth management.
How do you ensure confidentiality and security of my financial information?
We prioritize the confidentiality and security of your financial information by employing advanced data protection protocols and secure communication channels. Our firm adheres to strict privacy policies and complies with regulatory standards to safeguard your data. Additionally, we limit access to your information to authorized personnel only, ensuring your trust in our professional stewardship.
Testimonial
WHAT OUR CLIENTS ARE SAYING!
DeFreitas & Minsky maintains high standards, produces detailed information and gets involved with our company so they can understand the operation on a more personal level. The information they provide is always accurate and current. We have been with them for more than 30 years!
4 years agoThis is my second year filing my taxes with DeFreitas & Minsky. I was referred by a friend. Honestly, It’s a blessing sent. Everyone there is professional and knowledgeable about tax codes. They even keep me abreast via email whenever there’s a new tax law and what it entails. I feel safe and sound when doing business with them.
True professionals and attentive to all of my needs. Manny, Melissa, and Michael are all super helpful. They took the time to help me with my taxes, financial planning, and estate tax needs. I highly recommend them.
We’ve been working with Manny for the last 10 years. Whenever we have a question he’s there and if he’s in a meeting during Tax Season (it happens), Jay is always there. Thank you Gentlemen.