There is no question CPAs have a strong understanding of the financial complexities many clients face when it comes to tax, estate planning, financial analysis and managing cash flow. “As a trusted advisor to our clients, we have insight into the complete picture, both financial and often nonfinancial,” stated Angela Frazier, Managing Partner of EGP Wealth Management.
The complementary relationship between taxation and financial advisory brings many advantages, each impacting the other. Our clients can trust that we are focused on the best interests of their families and businesses so they can have peace of mind in knowing they have prepared for their future and retirement. Working with our firm for both tax and financial advisory services allows for the integration of tax strategies with financial decisions to minimize tax implications. There is simply no substitute for the confidence that comes with the expertise of an experienced advisor.
Angela has more than 25 years of experience helping individuals and businesses with their tax and financial needs. Clients have many questions, like: “Am I at a point where I can retire? How’s my financial health? What does retirement look like for me? As Partner in Charge of Wealth Management, Angela enjoys advocating for her clients as their trusted advisor to answer these questions and to help them chart a course to realizing their financial goals in a tax efficient manner.
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Joe joined EGP WM in June 2024 after spending years in the securities industry. Most recently with Edward Jones and as Owner of Private Executive Wealth Management. Joe spent years in corporate America, servicing some of the world's largest and most demanding firms. Clients love his desire to understand their concerns and his ability to help them manage their market emotions. His approach allows him to properly assess client risk, create laser-focused portfolios and accurately create financial plans in an effort to reach client goals. Joe enjoys great relationships with financial media and personalities. He has had the opportunity to interview many for the Sounds Like Money Show™ and bring that breadth of knowledge to his clients.
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Colin has extensive experience as a CPA and has been a financial advisor since 2009 putting his Personal Financial Specialist certification to work consulting clients on all matters of taxation, financial management, and estate planning. He is also a Certified Valuation Analyst, Certified Construction Industry Financial Professional, and Construction Industry Technician. Colin served as an infantryman in the United States Marine Corps Reserve where he received a field promotion, Combat Action Ribbon and other citations while serving in Iraq in 2003.
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Lindsey has extensive experience as a CPA, her background in audit brings a keen insight to the wealth management team. She has more than seventeen years of experience helping client on issues with accounting, internal control and business processes. She is a native Arkansan and a graduate of Harding University in Searcy, Arkansas. Lindsey began her career with a Big Four firm in its audit practice.
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Stephanie joined EGP Wealth Management in June of 2020. She is excellent in assisting our wealth clients and is here to serve your needs. Prior to joining us, she was an executive assistant at Camp Robinson servicing our military families for nine years. Her major role was accounting director of the Family Readiness Group financial funds. Stephanie is an Arkansas native and enjoys spending time with her husband and their two children.
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Cheryl joined EGP Wealth Management in August of 2024. She is excellent in assisting our wealth clients and is here to serve your needs. Prior to joining EGP, she was an Office Manager at a large local construction firm. She managed all areas that kept the firm running and was loved by her customers. Cheryl is a native of Michigan and moved to Arkansas as a teenager. She enjoys spending time with her husband, her two children, and her granddaughter.
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In our new mode of living - working, playing, and reflecting - we thought of some proactive ideas that might check off a few “financial planning” boxes.
Many of us have planned carefully, but today’s rapidly changing circumstances may give us an opportunity to re-evaluate those plans in certain specific areas. As you consider the matters below, we are here to assist you and talk through any questions you may have regarding:
Tax Planning. The Coronavirus, Aid, Relief and Economic Security Act (CARES Act), was enacted on March 27, 2020 to provide assistance for businesses and individuals. Highlights of the benefits for individuals include tax rebates, special rule for the use of retirement funds and changes to the tax treatment of charitable contribution deductions. There are also numerous benefits for businesses under the act such as availability of net operating loss carrybacks for a tax refund, employee retention credits and delay of payment of employer payroll taxes to name a few.
Estate Planning. When was the last time you read your trust or will? Has anything changed? Deaths, births, marriages or divorces, special needs or new disabilities? Are you still satisfied with how your beneficiaries are treated? Are there any controls or conditions for certain situations? Do you have durable powers of attorney in place? Durable health care powers of attorney? Beneficiary Deeds?
Emergency Funds. Not to sound trite, but we all need that “cash cushion” of liquidity. Some planners say six months to one year’s expenses will suffice. If you are retired, two years of expenses are even better. Where should you keep your cash? Your local bank is the best choice for immediate availability. Rates are historically low, but these funds are for safety, not growth.
Life Insurance: Have you reviewed your life insurance? Depending on your age and family composition, determine your purpose for this insurance. Your age and the presence of spouse and children will determine your need and death benefit amount. What type of life insurance do you own? Whole life, universal, or term?
Buy/Sell Insurance: If you own a business with partners or shareholders, a buy/sell insurance policy can provide much needed liquidity in the event one of the partners or shareholders dies. The policy can provide the cash needed to acquire the decedent’s share of the business. As time goes by, the value of the business can change and partners or shareholders can change so it is important to review these policies to make sure they meet your current needs.
Disability Insurance: This is offered by many employers and usually pays 60% of your most recent salary to age 65. If you are self-employed, you should consider buying your own stand-alone policy or procure one through a professional association.
Long Term Care Insurance (LTC): Long term care insurance is different from disability insurance. It protects you if you need assistance with the activities of daily living (ADLs), such as feeding yourself, bathing, transferring from bed to chair, dressing, toileting, and continence. The usual rule is that if you are unable to perform two of six ADLs, you will qualify for Long Term Care benefits. Senile dementia and Alzheimer’s Disease is also included and do not require the other ADL triggers.
The LTC industry has changed in the past five years as more people are going on claim. If you would like to include this important facet to your financial plan, we can assist you in assessing how large a benefit, length of benefit period, cost of care inflation, and other metrics you might need.
Asset Allocation of Investment Portfolio. In the rude wake up call of COVID-19, we are all experiencing some self-doubt about our true risk tolerance. Now is the perfect time to re-evaluate and question the purpose and need of every security you own. Our tools at EGP Wealth Management include research from TD Ameritrade, Morningstar, and CFRA Research to name a few sources. We are confident that knowledge is power and are always ready to share with you and your family.
Please know that we appreciate you as our client and look forward to your questions or comments as we value them. Our phone number is 501-374-2910. We also have video conferencing capabilities if you would find that convenient. Please contact us to discuss these important matters related to your finances and future.
Stay safe and confident.
www.egpwm.com | Office: 501-320-1021
611 Main Street, North Little Rock, AR 72114