What’s new regarding financial planning in 2025? Any changes from 2024? Not much has changed from the operations of financial planning going into 2025, and the focus continues to be on client goals and figuring out what is important to them. There are different tools that may be used, but the main idea is the same: have short-, medium- and long-term goals, and the investment strategies will follow.
What do you foresee as the most important aspect(s) of planning for 2025? The most important aspects of planning for 2025 will be estate planning and tax efficiency. There may be a couple of different laws being put into place once the new presidential team gets put in place.
What is your advice for people just starting to formulate a financial plan? Know where you want to go first! Investment strategies are curated more on what our individual goals are first. You have two points you need to focus on and know first. Point A: where you are now… Point B: where you want to go. The stuff that happens in between will be largely determined by understanding how close Point A and B are to each other.
How often should people meet with their financial advisor to review/adjust their financial plans? We typically have quarterly meetings with our clients to review their portfolios and their plans to see if there are any adjustments that need to be made. We will revisit their financial plan typically once a year, unless there is a large adjustment for our clients. Whether it is a new house, new child, new job, etc., we will revisit the plan to ensure we are still on track!
Is there a certain time of year you recommend people take stock of their finances/meet with their advisors? We usually meet quarterly, but we find that our clients like meeting either at the beginning of the new year or in the summer (when schedules are typically more open).
Can you share some advice/guidelines regarding the following for 2025:
· Saving: We like the 50/30/20 method: 50% of your income should be used for your needs (mortgage, food, utilities); 20% for savings (401K, emergency savings, investments); and 30% for anything else (entertainment, travel).
· Investing: This is really more specific to each client and what they are looking to do, so this is a little hard to answer. Typically, you will want your long-term money aiming for more growth, whereas your short-term money you will want to keep safe for when you need to use it.
· Debt: There is good debt, bad debt and a way to effectively use debt to help achieve your goals. This depends on each person (again), but most people should keep an eye on how much they are paying for their debt. If you are making more than you are paying in debt rates, that’s great math! If you are not making as much as you are paying in debt rate, it may be time to take a look and see if there is another option.
· Gifts/Charitable donations: This may be changing! With new leadership and old laws adjusting, charitable donations and gifts may get a little more complicated, especially if you are close to the Lifetime Gift Exemption. It is prudent to speak with your advisor /estate attorney/tax professional to determine what is right for you.
What do you like about being a financial advisor? It allows me to be knowledgeable about all aspects of someone’s financial needs and picture, rather than just focusing on one area. Tax efficiency is just as important as investment strategy, which is just as important as estate planning strategies… and the list goes on. By truly understanding how all of these categories work together and being able to dictate this to another person so that they can understand is amazing! It also feels great when your plan is successful, and you change someone’s life because of it!
What is challenging about it? There is a lot to know, and information is always coming down the pipeline. It’s a lot to keep track of, which is why I like being on a team. This allows us to each have a certain focus that we can put together.
Laura Marie is a Senior Vice President Financial Advisor, Alternative Investments Director and Co-Founder of The Lake Avenue Group at Morgan Stanley. With passion and conviction, she serves as the team leader, shaping the group’s strategic vision. Laura Marie believes in the strength, partnership and comradery of teams. She strategically built The Lake Avenue Group to utilize the strengths of each team member, seeking to ensure clients have all the resources they need to address their financial concerns and circumstances from one complete team.
As a CERTIFIED FINANCIAL PLANNERs™, Laura Marie is committed to earning the trust of families by focusing on multigenerational wealth transfer and managing family dynamics. Serving as a financial advisor, she helps clients create strategies for almost all aspects of their financial lives—from putting children through college and preparing for retirement to caring for aging parents and leaving a lasting legacy. Laura Marie prides herself on providing the highest level of service. She has a particular knack for taking a bird’s-eye view, finding the most effective and efficient route to achieving each client’s goals. Her flexibility and passion for connecting with others enables her to quickly pivot when the situation calls.
Laura Marie earned her Bachelor of Science degree in business administration and has been with Morgan Stanley since 1997. In 2020 and 2021, she was chosen by Forbes magazine as one of the top women wealth advisors in the country. In 2021, she was chosen by Forbes magazine as one of the Best-In-State wealth advisors. In 2022, she was chosen by Forbes magazine as one of the Best in State Women Advisors. Laura Marie lives in Westlake Village with her husband and business partner, Darius, and their dogs, Honey, Freddie and Charlie and commutes to the Westlake office. Never meeting a challenge she didn’t like, she runs marathons, rides bikes and snowboards. Laura Marie also enjoys reading, country music and sailing on their boat, Liberty, on Westlake Lake.
2021 Forbes America's Top Wealth Advisors Source: Forbes.com 2021 Forbes America's Top Wealth Advisors ranking awarded in 2021. Each ranking was based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher). This evaluation process concluded in March of the year the award was issued having commenced in March of the previous year. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to SHOOK Research LLC to obtain or use the ratings. These rankings are based on in-person and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the opinions of SHOOK Research LLC and these rankings may not be representative of any one client’s experience. These rankings are not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with SHOOK Research or Forbes. For more information, see www.SHOOKresearch.com.
2020-2021 Forbes America's Top Women Wealth Advisors & Forbes Top Women Wealth Advisors Best-In- State (formerly referred to as Forbes Top Women Wealth Advisors, Forbes America's Top Women Wealth Advisors) Source: Forbes.com 2020-2021. Forbes America's Top Women Wealth Advisors & Forbes Top Women Wealth Advisors Best-In- State ranking awarded in 2020-2021. Each ranking was based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher). This evaluation process concluded in September of the previous year the award was issued having commenced in September of the year before that. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to SHOOK Research LLC to obtain or use the ranking. This ranking is based on in-person and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the opinions of SHOOK Research LLC and this ranking may not be representative of any one client’s experience. These rankings are not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with SHOOK Research LLC or Forbes. For more information, see www.SHOOKresearch.com.
Laura Raulinaitis is a Financial Advisor with the Global Wealth Management Division of Morgan Stanley in Westlake Village, CA. The information contained in this article is not a solicitation to purchase or sell investments. Any information presented is general in nature and not intended to provide individually tailored investment advice. The strategies and/or investments referenced may not be suitable for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. Investing involves risks and there is always the potential of losing money when you invest. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley Smith Barney LLC, Member SIPC, or its affiliates.
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Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
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"Tax efficiency is just as important as investment strategy."