Data security is a continual concern to individuals and businesses alike. It is in the headlines every day. At SWP we take data security very seriously. Below are some of the steps that our firm takes to manage your personal information.
Regular employee training
Ongoing client education, tips and notices to our clients
U.S.-based cloud computing with redundant back-up systems through our IT provider
Internal controls on paperwork – locked and secured
Client call-back verification for any emails, faxes and letters received to change email address, mailing address, phone numbers, and to administer third-party checks and wires
Third-party vendor reviews of privacy policies and internal controls
Awareness of industry threats and trends through Focus Financial Partners network and custodians
Encrypted password vault for all firm passwords
Encrypted email and vault for file sharing
Monitoring of employee access to key systems
Client-approved verification forms for sending data to interested parties
Cyber Security Insurance
While no firm can completely guarantee that information will never be breached, we strive to do everything we can to prevent it through deploying best practices, technology, and training.
In the world of financial planning, the federal estate tax tends to get a lot of press, but what often surprises some clients (and will impact more of them) is that states themselves also have their own estate or inheritance taxes. For clarity, an estate tax is levied and paid by the estate of the deceased, while an inheritance tax is paid by the heirs receiving the inherited property (with spouses generally exempt).
In today’s fast-paced world, it's easy to get caught up in the noise of predictions, forecasts, and market speculation. It's tempting to listen and react to predictions, but successful investing and sound financial planning involve tuning out the noise and taking a more disciplined, strategic approach.
Often referred to as the “Great Wealth Transfer,” studies show that roughly $84 trillion in assets amassed by baby boomers will change hands over the next 20 years. When examined more closely, a third of today’s high-net-worth individuals inherited their wealth. According to the UBS Billionaire Ambitions Report, in 2023, more new billionaires were created by inherited wealth rather than entrepreneurship. This trend looks to continue in the years to come for many wealthy families (not just billionaires).