Navigating divorce, together

Private Wealth Management

Navigating divorce, together

Divorce is difficult. Such an important transition is always an emotional challenge, often coupled with a complex legal process and a major financial adjustment.

We believe this transition is an opportunity to re-imagine your story. Now is the time to take control. Know where you stand and what you want for your future. And realize that you’re not alone on your journey when you work with a team that appreciates what you face and has the experience to help you chart your path forward.

No matter how hard it gets, we will stand by your side as you turn the page and write the next chapters of your story.

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Insights to guide you forward

For every life stage—and every aspect of your finances—you can expect us to bring you important insights and thoughtful perspectives to guide you in moving ahead with more confidence.

Becoming single

How can you take control of your wealth if you suddenly have become single, due to divorce, separation or your partner passing away? These and other considerations can help you take up the reins of your financial life:

1. Choose your legal representation wisely—Speak to, and meet with, various lawyers to find the best fit.

2. Don’t be afraid to ask ‘stupid’ questions—Understanding exactly what’s happening with your finances will help you move confidently into the next phase of your life.

3. Take your time—Tackle the immediate issues first and call on experts and professional advisors to help you deal with longer-term challenges.

4. Assess your current financial advisors—Do you feel fully confident in them?

5. Welcome your new financial responsibility—Recognize that learning about your finances puts you in control of your wellbeing and happiness.

See the financial impact of divorce

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What’s your financial personality?

Are you afraid to take risks even when they might work in your favor? Or are you happy to throw caution to the wind without worrying about things going wrong?

Your financial personality can play a big role in the investments you choose. Some people are financial daredevils, willing and able to risk losing money for the chance of high returns. Others struggle to sleep knowing they’re risking their hard-earned finances. For them, the opportunity to grow their money just a little is a fair price for peace of mind.

So, what’s yours? And how might it affect your wealth?

Explore your financial personality

Five investment mistakes to avoid

We’re all human and we all make mistakes. But there’s a big difference between forgetting an anniversary and picking the wrong place to invest. Here are five common investment errors you’ll want to avoid.

1. Changing your investments too often: People in the investment industry call it ‘timing the market.’ And it’s very easy to get wrong.

2. Not checking and maintaining your portfolio regularly: Ignore your portfolio at your peril.

3. Letting big numbers blind you:Some choose ‘star’ fund managers and investments (alpha) because they’re impressed by how they’ve performed recently.

4. Sticking with losers, not winners:People fear losses more than they enjoy gains.

5. Staying too close to home: Are you missing the chance of growing your money by investing abroad as well as domestically

Learn more about the five common investment errors you’ll want to avoid

All your financial planning needs in one place

We stand ready to meet you exactly where you are as you transition into this new life stage. Our conversations will help you define your priorities as we educate you on planning components such as:

– Liquidity management and cash flow needs

– Asset replacement solutions (e.g., insurance, estate planning strategies)

– Tax and legal structures (e.g., trusts and philanthropic vehicles)

An effective financial plan starts with your goals. Get started on defining what’s important to you.

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Navigating divorce, together

Empowerment Advisors