Eight years ago, Wayne Holt, Darrell Petter and Matt Slaton formed Insight Financial Group, a boutique financial firm designed to guide clients through the intricacies of wealth management.
“We were all in financial services, but we each have unique perspectives, skill sets and talents,” said Slaton. “We knew each other outside of business, have all been here in Argyle for some time, and finally realized that it would be a great idea if we utilized everyone's talents in a single entity.”
Insight Financial Group uses a multi-dimensional approach to meet the needs of each client, ensuring education is part of the process so each person knows when to utilize certain assets or tools.
“We look at strategies and work on helping people understand how to move their assets and money (toward) what they've worked so hard for,” said Holt. “Affluent people worked on climbing this mountain, but no one ever taught them how to get back down on the distribution side.”
As a team, they focus on strategies, not products, and work to develop unique solutions for each client and portfolio.
“I love teaching people and introducing a different idea they've never heard or seen before,” said Petter. “When I work with a client, I do in-depth research, understand what they want, and then put strategies in place that help them sleep well at night.”
Drawing on their combined 90-plus years of experience, Insight Financial Group has developed tips for ensuring healthy financial fitness that brings a lifetime of benefits.
Know where your money is going by tracking expenses, expenditures and savings while identifying wants versus needs. Look for opportunities to save, whether that is increasing your accessible cash flow in savings accounts or saving for retirement using specialized tools. Additionally, maintain a lifestyle supported by current earnings to avoid debt.
Make it a priority to pay down any debt and avoid getting stuck in the cycle of high-interest rates on credit cards. Whether it's a mortgage, car payment or a small business loan, seek understanding about debt servicing.
Understand the tax situation
Understand how saving to a 401K or an IRA with tax deferment works alongside property, sales, income and capital gains taxes. Take advantage of available resources to mitigate tax liabilities appropriately.
Be sure to invest wisely and diversify investments beyond mutual funds, exchange traded funds (ETFs), and/or bonds and utilize the tools available to help with diversification. Doing so will ensure a reasonable gain without as much volatility built into your assets.
Protect your assets through strategic estate and business planning, specifically making sure probate paperwork, such as a will, is up to date. Become educated on what happens to your assets when you are gone, and update beneficiaries and/or beneficiary information annually.
Put finances on autopilot
Regardless of financial status, use banking tools designed for automatic deposits and funneling money into savings or specific accounts for required expenditures. Having multiple accounts makes it easier for people to manage their finances.
For more information and guidance implementing these tips, visit www.insightfg.com or call 940-489-5600.
"We each have unique perspectives, skill sets and talents."