Am I Overdue for a Wealth Review?

In today’s fast-paced world, achieving financial security is essential for a stress-free life. Yet, many individuals overlook the importance of a regular wealth review. Over the past 12 months, you may have conducted a portfolio review or updated your financial plan, but have you considered a comprehensive Wealth Review?

While it might seem similar to financial planning, a Wealth Review serves a distinct purpose. The key difference lies in its simplicity—it’s not as intricate as financial planning but still addresses many critical aspects of your overall financial health. It offers a streamlined yet comprehensive look at your assets, allowing you to evaluate your wealth without the time-consuming task of analyzing every expense or budget detail.

What Should a Wealth Review Include?

A thorough Wealth Review typically covers the following areas:

  1. Assets held with Banyan Wealth
  2. External assets, including investments held outside Banyan Wealth
  3. Retirement accounts: 401(k), 403(b), 457, SEP IRA, SIMPLE IRA, Profit Sharing Plans, and Cash Balance Plans
  4. Company stock, stock options, or restricted stock units (RSUs)
  5. Legacy or orphaned accounts that may have been left untouched
  6. Insurance policies for life, health, or property
  7. Real estate holdings, including rental properties or vacation homes
  8. Business ownership or equity stakes in companies
  9. Illiquid assets, such as collectibles, private equity, or venture capital investments
  10.  Estate Planning/Review: account titling, beneficiary updates

Why is a Wealth Review Important?

A Wealth Review goes beyond just crunching numbers—it provides insights into your financial habits, your money mindset, and your long-term financial goals. By taking the time to review all aspects of your wealth, you can identify areas for improvement, adjust strategies, and reallocate resources to maximize wealth growth and sustainability.

Whether you’re planning to pay off debt, build savings, invest in real estate, or retire comfortably, a Wealth Review is a vital tool for making informed financial decisions. Regular reviews empower you to make smarter investments, manage your money more effectively, and align your strategies with your life goals.

Schedule Your Wealth Review Today

Your journey to financial freedom starts with a clear understanding of your assets and goals. A comprehensive Wealth Review is the first step to optimizing your finances and securing a brighter future.

Contact Banyan Wealth today to schedule your next Wealth Review and take control of your financial health.

JR McCormick, CFP®

Certified Financial Planner™
Director of Financial Planning
Wealth Advisor

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