Lay the foundation for the next generation
Receive a complimentary financial plan assessment and see if you’re saving enough for a loved one’s education.
We can help you save early and save smart.
Paying for a child’s education is a significant undertaking and educational costs continue to rise. With us by your side, you can develop a flexible strategy that helps prepare you and the student for the future.
Newly released research from M&T Bank’s 2021 U.S. Emerging Affluent Survey finds that, as the pandemic recedes and affluent Americans reengage, 20% of respondents are increasing savings for college while 25% are reevaluating school choices due to rising costs. What are you doing to prepare? We can help you consider your short- and long-term goals and create a plan to help you pursure your most important financial goals.
We always start with you.
As part of your comprehensive financial review, you and your advisor will
discuss your education funding goals, how you’re saving for them today, and
the type of schools your children might attend.
Analyze, adjust, and update.
With the help of Wealth Goals, we layer in information about education expenses in the future, along with information about your entire financial picture, to uncover how likely you are to fund your education goals and ways you can adjust your current plan to better position yourself for success.
Together, you and your advisor will identify a customized mix of strategies for you that fit within the context of all your long-term goals.
Education Expenses Only
Also known as qualified tuition plans, “529s” are tax-advantaged savings plans that offers tax-free earnings growth and tax-free withdrawals when used to pay for qualified education expenses. Tax treatment at the state level may vary. You may also benefit from tax savings by making qualified contributions to the plan.
Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program.
Coverdell Education Savings Account (ESA)
An ESA is a trust or custodial account that offers tax-deferred earnings growth and tax-free withdrawals when used to pay for qualified education expenses for the designated beneficiary of the account. Contributions are not deductible and the total contribution per beneficiary in a given year is capped at $2,000.
All forms of funding, including scholarships, grants, loans, and work-study programs that help students attend and pay for higher education in the United States. A student may qualify for financial aid on a need- or merit-based basis, but 100% funding isn’t guaranteed.
Uniform Transfers to Minors Act (UTMA) and Universal Gifts to Minors Act (UGMA)
UTMA and UGMA accounts enable parents to save, invest, and maintain full control of money for their children without creating a trust. These options have limited tax benefits, but can be used for any expense, offering more flexibility than other options.
A trust offers the greatest flexibility in how money and other assets are managed and distributed, but doesn’t come with education-related tax benefits. It can be a useful tool for parents who want to set provisions as to how money is spent and under what conditions.
Change of plans?
Speak with your advisor who can bring in a team of specialists to help address your unique needs.
We can help you prepare for the unexpected.
A well-designed financial plan doesn’t end if you or a loved one passes away.
It merely evolves. Our estate planning specialists can help you craft an estate
plan for the unique circumstances you and your family face.
Our personalized planning process starts with a deep understanding of your goals and your entire financial picture, not just your investments. Together, we’ll build and test a plan to address your unique needs.
You’ve worked hard to get where you are. We’re ready to assist you with creating a long-term plan geared toward helping you retire your way.
Insurance is an important component of a healthy financial plan. When was the last time you reevaluated your existing policy? Our advisors can work with you to help mitigate your unique risks.
Investing involves risks and you may incur a profit or a loss. There is no assurance that any investment strategy will be successful.
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