In life, there are things we expect to happen, and often things we don’t. In the last few years, we’ve learned that our world can change dramatically in a short amount of time. For these unexpected situations, it’s helpful to have a plan in place.
Certified financial planners can formulate multiple paths to stability and success, whether it’s buying a house, putting children through college, or deciding when to retire. “We have deep meaningful relationships with the 400 families we serve, and each of their situations are a little different,” says John M. Egan, CFP, managing director and partner of Hightower Egan Wealth Advisors. “It could be someone selling a business or a divorce or death in the family. Maybe an elderly parent is undergoing long-term care or they have a child with special needs.”
Whatever the situation, John, who was named to the Forbes’ 2022 Best-in-State Wealth Advisors list, and his team meet with clients to develop tailored financial plans. “We really take a deep dive into someone’s facts and figures and also discover what the family’s goals are,” he says. “Our job is to understand each client’s unique situation.”
He says this initially takes two or three meetings, which they prefer to do in person, although Zoom is an option. “It’s really a process to develop the right plan,” says John. “They then usually hire us to implement it, which is key because the document itself is great, but something could change a month later.”
This is why most of their clients meet with them four to six times a year in order to review and possibly revise their plans. “It’s kind of like we build the plans for the house and then we’re acting as the builders too,” he says. “After we build the house, we’re then maintaining it to make sure things stay on track.”
They have a lawyer they work closely with, who can also review wills, trusts, powers of attorney and healthcare directives. “Many times people think they have the right estate-planning documents, but they don’t, so we help with those as well,” says John. It’s important to have these documents prepared before a crisis happens. Otherwise, it might be too late.
Egan Wealth Advisors is part of Hightower Advisors, one of the largest fiduciary financial planning and registered investment advisors in the country. However, their offices in Madison, where they’ve been for over 30 years, and Bay Head, are independently owned. “As fiduciary financial planners, we’re contractually obligated to be on the side of the client,” he says.
Their director of happiness, Mia, can be found in their Madison location. “She’s my beloved bearded Collie,” says John. Seeing her adorable face definitely brings joy to clients.
Egan Wealth Advisors
21 Green Village Road Madison 800-919-5010
Hightower Advisors, LLC is a SEC registered investment adviser. Securities are offered through Hightower Securities, LLC - Member FINRA/SIPC.