PROGRAMS and SERVICES
Our College Financial Planning Services
Whether your child is a new born or going to grad school, our College Planning Service can help you sort through the confusion of funding their college education. We will show you that you do have choices and resources that you may not have known about.
We'll connect you with our Certified College Planning Specialist and member of the National Institute of College Financial Planners (NICCP), who will review your family's financial information and create a college funding plan tailored to your specific needs. What's more, Financial Mangagement, Inc takes advantage of cutting-edge technology with our Wealth Management software that integrates all of your investments into one secure web location, updated nightly to give you up-to-date information on your total financial picture.
Your customized plan will include specific recommendations in these targeted areas:
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Tax Planning
We can help you reduce or eliminate the tax cost of saving and paying for college by recommending strategies such as transferring income from parents to children and taking advantage of education tax incentives. Your tax reduction review and plan may include:
- The best timing to achieve tax benefits related to your business, income-producing property, and assets.
- Tax-efficient use of assets to help pay for college expenses.
- Strategies for business owners, including how to receive a tax deduction for college costs that are paid through their business.
- Ways to use income-producing property, such as rental property, to generate tax benefits to help pay for college.
- How to maximize your eligibility for education-tax incentives.
- Summary of the tax consequences and potential benefits of implementing the recommended strategies.
Cash Flow
Your advisor will teach you how to allocate your income and assets more efficiently to free up money for college. You'll learn how to save for the future and still have cash for your immediate needs. Your cash flow review and plan may include:
- Ways to reduce your current monthly expenses.
- Strategies to increase your cash flow without compromising your current lifestyle.
- Tips to generate college savings.
- Benefits of using home equity for debt consolidation.
- A summary of all income, assets, and expenses, including home financing details (if applicable).
- Before-and-after scenarios detailing how much money you can save each month.
Investment Planning
Because it involves long-term strategies, this area is particularly useful to parents of young children. We will teach you about investments that can help you work toward achieving your college savings goals over time and provide the opportunity to integrate your cash flow, retirement and college planning to assure you are working towards you needs, goals and desires. Your College Investment Review and Plan may include:
- Strategies to increase the after-tax rate of return of your financial investments.
- Ratings for each of the following financial investments, based on your family's specific needs:
- 529 plans -- College savings plans established and maintained by the state.
- UGMA/UTMAs -- Custodial accounts in which one person holds money or investments for another who is not yet of legal age.
- Individual Retirement Accounts (IRAs) -- Retirement savings accounts which may reduce the amount of your taxable income.
- Roth IRAs -- Non-deductible IRAs with possibility of future tax-free withdrawal.
- Annuities -- Contracts, sold by commercial insurance companies, which pay regular benefits.*
- Mutual Fund Accounts as investment planning.
- Asset Allocation -- Planning for your investment risk by a properly diversified investment allocation.
- Retirement Planning -- Affirm that your retirement dreams are in line with your resources.
*Based on the claims paying ability of the insurance company
Financial Aid
Particularly helpful for parents of high school juniors and seniors, this area focuses on your child's eligibility for both need-based financial aid and merit-based scholarships. Your financial plan may include:
- The types of available financial aid and how your child's eligibility is determined.
- Common pitfalls to avoid that might jeopardize your child's eligibility.
- How major changes in your family's financial situation (such as inheritance, job change, etc.) could affect your child's eligibility.
- The computation of the Expected Family Contribution (EFC), based on the amount of your family's income and assets.
- How to appeal your financial aid package if the data you reported on your financial aid application does not clearly reflect your ability to pay for college.
- The comparison of your child's eligibility for need-based aid from public, private, or elite private colleges.
When you talk with one of our Certified College Planning Specialists, you'll be surprised at the real difference professional guidance can make when it comes to how (and what) your child will pay for college. Read inspiring stories from families like yours.
Career Planning and Student Positioning
We will teach you the strategies that can position your student to be at a competitive advantage when it comes to college admission and acceptance. Increase the likelihood of getting into a college of your choice but with an increase in merit aid.
- Learn how our Career and College Planning System is a necessary tool designed to help you and your students find the right college for them based on their career aspirations.
- You will have career assessment tools that will allow your student to identify a career path that will meet their personality and select a major that will be emotionally satisfying.
- We partner with leading professional student educational service providers to assist students looking to get into select colleges with competitive offers.
- College prep course strategies and resources to help with the academics of SAT's and ACT's.
- Free scholarship search opportunities.
- Step-by-step guide on student positioning.
Career planning prior to college selection can lead to a significant reduction of college costs and help reduce costly educational choices! Students who receive career planning prior to college selection and attendance have fewer major switches and college transfers and graduate on time. They also are more goal-focused, motivated and have higher academic achievement while in college.
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No information on this site is intended to constitute an offer to sell or a solicitation of an offer to buy shares of any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under securities laws Registered Representatives of Linsco/Private Ledger may only discuss securities with or transact business with persons who are residents of the following states: AZ, CA, CO, HI, ID, KS, NM, NV, OR, UT, WA.
Securities and financial planning offered through LPL Financial, member of Securities Investor Protection Corporation (SIPC). For an explanatory brochure, please visit SIPC.org. LPL Financial is also a member of FINRA and An Investment Advisor.