All-Inclusive Wealth Planning for Starting Out.
Planning the present for your dream future.
You are working hard to build your wealth and have big plans for the future. There are so many choices and you want a financial strategy to create a long and abundant retirement, the opportunity for charitable giving, and to build generational wealth. Working with a financial advisor who understands your goals can make all of the difference, when it comes to your future. Make sure you are making the most out of your financial choices.
CASE STUDY
Brendan and Jennifer are in their late 20’s. Brendan is climbing the ranks at a local technology company and recently was promoted to project manager. Jennifer works in development for a local non-profit company. They both are able to participate in their company retirement and benefit plans. They are recently married and for the first time in their lives, they are joining finances. They have been working hard at paying down their student debt but haven’t been able to establish any consistent savings strategy and believe they are falling behind. They are excited about their future together but with no meaningful tracking plan in place they are feeling overwhelmed and don’t know where to start.
Main Concern - Understanding where their money goes
How we would help – Perform a spending analysis and take a deep dive into their bank checking, debit and credit card statements. This will allow us to discuss priorities, goals and establish an income and spending plan that emphasizes saving first.
Main Concern - Increasing low cash balances
How we would help – Educate around the importance of having a safety net of 6 – 12 months expenses. They could open a joint account and establish automated contributions to build their emergency fund.
Main Concern - Managing liabilities
How we would help – Develop a systematic approach to accelerate the pay down of their debt.
Main Concern - Comparing and maximizing their company benefits
How we would help – Review both of their company offerings and to advise on the optimal combination of each of their plans.
Main Concern - Purchasing a home and having children
How we would help – Open a dedicated savings account that targets higher yielding investments which is automatically funded from their income.
Main Concern - Enhancing general financial wisdom
How we would help – Familiarize them with financial concepts using plain English and making it easy. We would invite both Brendan and Jennifer to attend our seminars to build their financial knowledge.
This case study is hypothetical and for discussion purposes only. It is not intended to represent any specific return, yield or investment. Individual experiences referenced above may not reflect the future experience of any one client. The planning process discussed may not be suitable for your personal situation, even if it is similar to the example presented. Past performance is no guarantee of future results. Investing involves risk including the possible loss of principal.
Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Past performance does not guarantee future results. Be sure to contact a qualified professional regarding your situation before making any investment or withdrawal decision.
Looking for more insight?
Check out the guide curated just for you to assist in your financial planning.
FAQs
Hours & Contact Information:
Our office number is (727) 910-2001. Our hours of operations are Monday-Friday, 9:00 a.m. to 5 p.m. EST (Close at 4 p.m. on Friday). Closed Saturday & Sunday.
Or you may email us anytime at: coastalbaywealth@raymondjames.com
If you have issues accessing your client access account after hours, please call our Client Service Support line at 877-752-2237 Monday through Friday, 8 a.m. to 9 p.m. EST. Saturday and Sunday, 8 a.m. to 5 p.m. EST.
How can I keep an eye on my accounts?
RJ Client Access is your source for a simple, secure way to access your account information on your computer or mobile device – it puts instant insight and control at your fingertips!
See our step-by-step video, “Client Access Enrollment” (link to the video within our “How To” library in the resource center)
You will need to enroll and set up your account; click here to start. (here – link to client access enrollment page)
Enter your personal information & your account number (your account number can be found at the top of your statement).
Who do I contact if I’m having trouble logging into my client access account?
You can call our office at 727-910-2001 Monday-Friday, 9:00 a.m. to 5 p.m. EST (closes at 4 p.m. on Friday), and we would be happy to assist you.
Or you may contact our RJ access service support line at 877-752-2237 Monday through Friday, 8 a.m. to 9 p.m. EST. Saturday and Sunday, 8 a.m. to 5 p.m. EST
How do you charge for your services?
We have two separate service arrangements.
The first method is an advisory arrangement 1, where we charge one transparent fee, which includes the management of all your investment accounts held with us, ongoing retirement, and your vision financial planning. We also offer many other benefits and guidance regarding other financial aspects of your life that we do not directly manage. Have questions about your 401(k)? We can provide general information regarding your 401(k) options. For questions about estate planning, we can offer clarity.
The second method is a flat dollar structure 2, where we help with various Planning or Investment Consulting service areas. Our Planning services include Financial, Tax, Insurance, Education, Retirement, Estate, and Business Planning. Our Investment Consulting services include creating an investment profile, a portfolio holdings review, asset allocation review, investment strategy recommendations, security, and investment manager research of asset classes and sub-class analysis, sector, style, and historic performance review.
There are investment products with additional fees, such as 529 College savings plans & Life Insurance Products, which will be evaluated when determining the right solution for you.
1 In a fee-based account, clients pay a quarterly fee, based on the level of assets in the account, for the services of a financial advisor as part of any advisory relationship. In deciding to pay a fee rather than commissions, clients should understand that the fee may be higher than a commission alternative during periods of lower trading. Advisory fees are in addition to the internal expenses charged by mutual funds and other investment company securities. To the extent that clients intend to hold theses securities, the internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs. A list of additional considerations, as well as the fee schedule, is available in the firm’s Form ADV Part 2 as well as the client agreement. Services rendered will be dependent on applicable agreements.
2 The Financial Planning or Consulting services listed are generally those offered under the Wealth Advisory Services Agreement. However, fees and services are customized with each client agreement. For a complete list of fees and available services, please consult the most current Form ADV Part 2A and the Wealth Advisory Services Agreement that you may obtain from your Investment Adviser Representative.
Coastal Bay vs. Raymond James, What’s the difference?
Coastal Bay Wealth is an independent financial advisory team; our relationship with Raymond James allows us to offer you the highest level of client service. Raymond James provides business services to Coastal Bay Wealth, such as compliance oversight, technology, statement generation, reporting & securities are offered through Raymond James Financial Services, Inc. member FINRA/SIPC.
Are you a Fiduciary?
Yes. We follow the fiduciary standard on advisory accounts. But more importantly, what is a fiduciary? As a fiduciary, we work in your best interest of you. Non-fiduciaries need only recommend “suitable “products — even if they’re not the lowest-cost or most ideal for you. Beyond the legal definition, Coastal Bay Wealth takes responsibility as a fiduciary for advisory relationships to a more personal level. We believe each connection requires a unique level of service to ensure we are consistently earning our keep and helping to position you for success, both financially and in everyday life.
How do I explore becoming a new relationship?
It all starts with a connection. So, if you aren’t already connected with our team at Coastal Bay Wealth and you find yourself, a loved one, or a friend in need of financial planning and advising services, we would be happy to help!
The best way to start is by scheduling a 15-minute no-obligation phone call by clicking here.
Change to Who Are Your Clients?
Our clients are our friends. We start by engaging in a professional relationship that progresses toward a friendship.
How do we stay in contact?
Our team takes a proactive approach to communicating with our relationships through various delivery methods. Aside from our regular planning meeting, you can expect to receive general information from our team throughout the year, primarily digitally, as well as custom videos and the Investment Strategy Quarterly publications. Additionally, you will receive personal invitations to special events and educational presentations throughout the year. You are always encouraged to contact us with questions or whenever we may be of service. There is never a fee or cost to do so.
Is my account safe?
Accounts are custodied at Raymond James Financial Services, Inc. (RJFS), and all statements and account insurance are provided through Raymond James. You receive statements and online access directly from Raymond James, providing independent third-party reporting. Raymond James & Associates and Raymond James Financial Services are members of the Securities Investor Protection Corporation (SIPC). SIPC protects against the customer’s loss of cash and securities that Are held by a participating brokerage firm that becomes insolvent. Client accounts may be eligible to receive up to $500,000 in coverage through basic SIPC. Of that $500,000, up to $250,000 can be cash.
Raymond James bas purchased Excess SIPC coverage through various syndicates of Lloyd’s, a London-based firm. Excess SIPC is backed by the Lloyd’s trust funds and Lloyd’s Central Fund. The additional protection currently provided has an aggregate firm limit of $750 million, including a sub-limit of $1.9 million per “separate capacity” for cash in excess of basis SIPC limits.
Note: This does not protect your account from market loss.
What can I expect from my relationship with Coastal Bay Wealth?
First, you can expect us to get to know you well. We strive to learn as much as possible about you because it helps us guide you toward better financial decisions. We view this as a long-term partnership focused on your vision.
Second, you can expect attention to detail, prompt response to letters, calls, and emails, clear reasoning for our recommendations, diligent execution of the tasks, and confidentiality in all matters.
Finally, you can expect absolute honesty and integrity in every meeting, every observation, and every recommendation we make. You can and should expect us to adhere to the highest ethical and professional standards in every aspect of our relationship. We strive to simplify your life and enhance your lifestyle.
Does Coastal Bay Wealth have access to an investment strategy team?
Yes, we utilize a world-class investment strategy team led by Chief Investment Officer Larry Adam, consisting of various Raymond James top thought leaders, dedicated analysts, and support groups.
The mission of the Investment Strategy team is to provide actionable ideas and timely perspectives from the leading investment professionals across the firm. In collaboration with our Chief Investment Officer (CIO) and the Raymond James Investment Strategy Committee, we formulate centralized messaging on relevant investment strategy themes, asset allocation guidance, and timely investment strategy topics. We can provide you with the educational resources necessary to understand better and communicate these ideas while supporting you with practical and objective guidance on implementing our team’s ideas.
What is your investment approach?
Our process starts with your vision. Our approach considers your needs summarized in the following steps:
- We help you establish and articulate your goals and vision.
- We collaborate to determine the appropriate mix of investment types.
- We develop an investment recommendation that focuses on your overall vision for your future.
- We implement and continue to evaluate your portfolio as your needs and vision change over time.
Our success is measured by your future which is why our process is dynamic, so we can assist you as life events occur.
What licenses and designations do your team members have?
Our advisors and associates receive systematic training through continuing education, continuous improvement programs, and the attainment of industry certifications.
Michael Cox, Nicholas Manns, and Nick Bogdan hold various professional designations and licenses, including:
- CERTIFIED FINANCIAL PLANNERTM (CFP®) – Michael Cox
- Series 7 General Securities Representative – Michael Cox, Nicholas Manns, & Nick Bogdan
- Series 63 Uniform State Securities Agent – Michael Cox
- Series 65 Uniform Investment Adviser Agent – Michael Cox
- Series 66 Uniform Combined State Law – Nicholas Manns & Nick Bogdan
- Series 9 General Securities Sales Supervisor – Options exam – Michael Cox
- Series 10 General Securities Sales Supervisor – General exam – Michael Cox
- Series 31 Futures Managed Funds – Michael Cox
- FL 2-15 Life, Health, and Variable Annuities Agent – Nicholas Manns & Nick Bogdan
Raymond James & Associates is a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available upon request or at sipc.org or by calling 202.371.8300. Raymond James has purchased excess-SIPC coverage through various syndicates of Lloyd’s, a London-based firm. Excess SIPC is fully protected by the Lloyd’s trust funds and Lloyd’s Central Fund. The additional protection currently provided has an aggregate firm limit of $750 million, including a sub-limit of $1.9 million per customer for cash above basic SIPC for the wrongful abstraction of customer funds. Account protection applies when a SIPC-member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against market fluctuations.
Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are not FDIC-insured banking entities. FDIC insurance only covers the failure of FDIC-insured depository institutions and does not cover Raymond James & Associates, Inc. or Raymond James Financial Services, Inc. Unless otherwise specified, products purchased from or held at affiliated Raymond James Financial, Inc., companies are not insured by the FDIC or any other government agency, are not deposits or other obligations of Raymond James Bank or TriState Capital Bank, are not guaranteed by Raymond James Bank or TriState Capital Bank, may lose value, and are subject to investment risks, including the possible loss of the principal invested.
References made to FDIC insurance coverage under Raymond James Bank Deposit Program (RJBDP) address FDIC insurance coverage, up to applicable limits, at the insured depository institutions that participate in RJBDP. Funds held at Raymond James Bank (Member FDIC), TriState Capital Bank (Member FDIC), and third-party FDIC-insured banks participating in the Bank Deposit Program are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. The current list of participating FDIC-insured depository institutions can be found here. Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply. The Raymond James Bank Deposit Program relies on the services of IntraFi Network, LLC for the placement of deposits at insured depository institutions. If you maintain funds separately with banks in the program, you should monitor your total deposits at the applicable bank(s) to determine your FDIC coverage. Additional information regarding FDIC insurance can be found at fdic.gov or by calling 877. ASK.FDIC (877.275.3342).