Personal Wealth and Financial Services

Wealth Management from a Full-Service Financial Firm in Warsaw

money in different glass jars intended for savingAs a business owner, much of your wealth and assets are tied into your business. But while you take steps to get your business in good financial health, are you doing the same for your own finances? At Cathleen Volk CPA, we offer experienced wealth management to business owners in all life stages. We provide the same insightful and strategic thinking to your personal finances as we do to your business, giving you peace of mind and greater confidence in your financial future.

We proudly work with business owners across western New York and the many surrounding counties from our Warsaw office. Contact us to schedule a consultation and learn how our financial care can help you protect and empower your personal finances.

Call Us: (585) 600-4769 Get Your Consultation


Wealth Management Services We Offer

Portrait of designer woman standing in front of small vintage storeIf you’ve had financial planning in the past, you may think that you’ve already seen all that a CPA can do for your personal wealth. However, while financial planning is an essential part of the process, Cathleen Volk CPA can offer so much more.

Our wealth management services not only help you develop strategies for your financial future, but assist in organizing records, assessing your wealth and assets, regularly monitoring your situation, and adapting to changes in circumstance. We answer any questions you have and provide suggestions based on experience and up-to-date information.

When you come to us for wealth management, you can expect to receive:

  • Comprehensive financial planning
  • Personalized accounting and budgeting
  • Year-round tax planning
  • Retirement planning
  • Estate planning

Financial Planning

businessman going over financial charts on computer screenFinancial planning takes a broad look at the state of your wealth and develops strategies to help you optimize your financial health and begin preparing for your future. We provide insight into the financial aspects of your life, evaluate how your wealth is handled today, and compare that against your goals to help protect and redistribute as needed. Our goal is to empower you financially, protect against unexpected hardships, and give you the tools you need to live your best life for today and tomorrow.

Financial planning is all about ensuring that your wealth is working toward the present and future goals that matter to you. We start with a full inventory of your wealth, including assets (liquid and illiquid), real estate, investments, insurance policies, and much more.

Once we know what you have to work with, and what you need to protect, we develop personalized strategies based around your priorities. Are you saving for a child’s education? Is your tax planning as effective as it could be? How would your finances be affected if you got married or divorced? All of these questions and more are the domain of financial planning, and we work with you throughout the year to ensure that you are confident in your personal financial health.


Retirement Planning

Planning for your retirement can be an exciting process, but it can also feel like a daunting one. How much money do you actually need, and what’s the most effective way for you to get and protect it? How soon should you start? What if something unexpected happens to throw off your plans?

Having a CPA on your side can not only help you better understand this process, but can give you peace of mind as you work toward your goal. We take the time to understand what a healthy retirement looks like for you so that our strategies always keep your priorities in mind. We help you revisit your plan regularly to check your progress and adapt when needed.

How Much Do I Need to Save for Retirement?

Grandparents and teens sit on bridge in forestThere’s no definitive answer for how much you’ll need to retire comfortably, because it largely depends on your interests, values, and desired lifestyle. The amount you’ll need to enjoy retirement in your dream beach house abroad will be vastly different from what it’d take if you plan to stay local and take the grandkids on special excursions once a month.

Asking the right questions is key to helping us determine what you need to retire. By building a personal relationship with you, we can better understand your goals and plan accordingly while still leaving room to be flexible as things change.

Some of the questions we commonly ask include:

  1. At what age do you want to retire?
  2. Where do you want to live in retirement?
  3. Do you have hobbies you enjoy or ones you’d like to pursue once retired?
  4. Do you plan to travel regularly?
  5. How will your loved ones factor into your retired life?
  6. Do you have rainy-day savings in case of an emergency?
  7. Are you confident in your health and medical care options?

After we have a clear picture of your goals, we’ll build an estimate of what it will take for you to achieve the retirement you want. This estimate considers factors such as inflation, taxes, and unplanned financial needs, including costs for healthcare and assisted living. Having a visible goal makes retirement feel more achievable and lets you work toward your goal with confidence.


Estate Planning

As a business owner, you spend as much time planning for the future as you do taking care of today. Estate planning is an extension of this, working to preserve the legacy you’ve built over your lifetime. Cathleen Volk CPA provides experienced estate planning to help protect your interest, minimize tax liability, and ensure that as much of your estate as possible ends up in the hands of those that matter to you.

How Does a Wealth Manager Help with Estate Planning?

Comprehensive estate planning comes down to two sides – the legal and the financial. While there can be some overlap, you will typically need the expertise of a lawyer and a financial professional to ensure that all aspects of your estate are in order and that your wishes will be followed.

Man and woman are shaking hands in officeAs your wealth manager, our role is to find strategies and arrange the estate so that your beneficiaries aren’t saddled with unnecessary tax burdens or debt. One advantage of having wealth management is that much of your estate is already organized and categorized, which makes it easier to identify, classify, and title your entire estate.

Titling an estate can be tricky, and it's common for both tangible and intangible assets to be overlooked. This can lead to confusion for beneficiaries, who aren’t sure how these assets should be handled.

As a business owner, your business is one of your most important assets. You’ll need a plan in place to make a transition of ownership or leadership go smoothly if the unexpected happens. We can provide succession planning thanks to our comprehensive knowledge of your business and personal finances, simplifying this step for you.

Finally, we’ll look for opportunities to lower tax liability and address debts so that your beneficiaries can enjoy more of your estate in full. We identify viable strategies you can start using today, help you structure a trust to protect assets, and create a plan of action for paying back loans, credit accounts, and other expenses to reduce the amount of debt that comes with your estate.

Specific Ways We Help with Estate Planning

There are several tasks a wealth manager can undertake to help organize your estate. Some of the ways we help you protect your wealth and assets for the future include:

  • Drafting an estate plan summary
  • Providing a breakdown of the estate plan
  • Calculating estimated estate taxes
  • Retitling accounts and assets to meet desired distribution
  • Reviewing beneficiary designations
  • Providing a forum for family meetings and communications

Comprehensive Wealth Management is Here for You

While you work hard to grow your wealth, trying to manage it on your own on top of running your business can be exhausting, and you may not be as financially secure as you could be. We help you handle your assets and provide peace of mind so that you spend more of your time enjoying your wealth.

At Cathleen Volk CPA, we’re proud to support business owners in all aspects of their financial life. Our approach is founded on a personal relationship with you, understanding your goals and challenges so that you have someone to turn to with questions in good times and hard times. When you work with our team, you’ll know that you have a partner who will have your back year after year.

Discover how a comprehensive partnership can benefit both your business and personal life. Schedule a consultation today to learn more about our personalized strategies and the difference they can make for you!

Call Us: (585) 600-4769 Get Your Consultation

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Welcome to Cathleen Volk CPA firm licensed in New York.

We offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly.
Please call us today at (585) 600-4769. We'll be happy to schedule an initial consultation. Thanks for visiting!

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