Client Case Studies

Business Owners – Mark, the goals oriented CEO

With twenty years of experience in the healthcare industry, Mark successfully launched his own company and was enjoying his fifth year of double-digit earnings growth. Mark sought out Rockwood because he was upset with his former Advisor’s lack of proactivity, poor service, and the absence of a comprehensive view of his financial picture. Mark knew that if his Advisor could not understand his unique concerns and needs, then the Advisor would be of limited value in helping him achieve his long-term goals.

During our Mutual Discovery Meeting we explored Mark's concerns about his retirement trajectory, upcoming college expenses, complex tax return, lack of coordination in his asset protection program, failed business succession plan, and desires for the conservation of his estate. Through the discovery process we were able to uncover that Mark was missing crucial opportunities to optimize his financial resources and lacking the confidence needed to transition his business to the next stage of growth.

Since becoming a Rockwood client, Mark has implemented an improved 401(k) retirement plan for his business, established recurring contributions to 529 accounts to ensure his daughters education is met in a tax-efficient manner, optimized his compensation structure to take advantage of the Qualified Business Income deduction, established a succession plan with appropriate buy/sell life insurance contracts, opened a Donor Advised Fund to improve the tax efficiency of his charitable giving, amended his Estate Planning documents to provide for thoughtful trusts for his daughters.

The process of working with Rockwood to develop and continuously update his comprehensive wealth management plan has granted Mark a renewed confidence in the attainment of his goals and has reinvigorated his businesses.