Suburban Life - Bucks/Princeton - Issue #6 (June 2024)

zoom_in

SL_PROFILE_Brandywine Oak_0624_Layout 1 7 / 2 / 24 2 : 42 PM Page 1 BEYOND THE NUMBERS : The Story of Brandywine Oak Private Wealth From lifetime tax planning to family gifting to investment management and everything in between , Brandywine Oak Private Wealth strives to provide a simplified approach to solving the complexities of significant wealth . B Y B I L L D O N A H U E | P H OTO S B Y H E L E N A R A J U ichael Henley , CFP ® , CPWA ® , CRPC ® , RMA ® , Led by Chris Smith , CPA , the firm’s Director of Tax and had a specific vision when he founded Brandy - Founding Tax Partner , Brandywine Oak provides an array of wine Oak Private Wealth in 2018 . He wanted to services designed to alleviate a client’s tax burden : tax - reduction build a team that could address every aspect of a family’s strategies , tax diversification , and annual tax return analyses , financial picture — retirement income planning , charitable among others . M optimization , investment management , asset - protection , lifetime “ We’renot just 1040 tax preparers , although we have prepared tax management , estate planning , and more . His goal was to help returns [ for clients ] in just about every single state this year , ” says wealthy families preserve , enjoy , and protect their legacy , ensuring Chris . “ When new clients come aboard , we find that many had a a seamless transfer of wealth for generations to come . strategy implemented by someone else that has resulted in some He is pleased to say that his vision has become a reality , kind of miscommunication . Sometimes it’s a miscommunication leading to better outcomes for clients . More importantly , the team from one advisor to another , or between a CPA and an advisor . continues to grow , which has enhanced the firm’s ability to serve Sometimes a client might not even know what they should be a select group of sophisticated clients . conveying to their CPA . ” “ When a family hires us , they do so to manage all aspects of Theseoverlooked or misrepresented details can lead to families their financial life , ” says Michael , Founder and CEO of the Kennett bearing a higher - than - necessary tax burden — sometimes tens of Square - based firm . “ We start by asking what matters to the thousands or even hundreds of thousands of dollars . In one families we serve , and we never stop asking that question . Our instance , while reviewing a new family’s prior year’s returns , objective is to understand the client’s entire financial picture and Brandywine Oak discovered that a previous advisor and tax provide a comprehensive written blueprint that we refer to as preparer had completely missed an $ 87,000 overpayment of their Family Wealth Plan . federal taxes due to the Alternative Minimum Tax . Without the “ I have always been extremely focused on taxes throughout firm’s oversight , this money would have been permanently lost . my career , ” he continues . “ Taxes are one of the biggest ways we “ That’swhy , when a client first comes to us , we always review can help clients , because taxes tend to be a wealthy family’s their tax returns from the past three years , ” Chris says . “ That largest expense . The tax laws are written in pencil , meaning allows us to correct any past mistakes and identify potential tax they’re always evolving , and that’s why we make a point of exposures . For an average wealthy family , this exercise can be staying at the forefront of these changes . ” truly eye - opening . ” SUBURBANLIFEMAGAZINE.COM VOLUME 15 ISSUE 10 56 |

view text

zoom_in

SL_PROFILE_Brandywine Oak_0624_Layout 1 7 / 2 / 24 2 : 42 PM Page 2 We want to help alleviate anxiety families have over financial decisions , and we’re here to execute on their behalf so they can focus on what matters most to them . ” — Michael henley , Founder and ceo oF Brandywine oak Private wealth , shown with alison dorsMan , co - Founder , co - ceo , and Private wealth advisor As opposed to advisory firms that tend Brandywine Oak’s commitment to ways to foster a culture of success , too . to offer investment recommendations empowering its clients through education “ A year and a half ago we created a without having a clear understanding of goesbeyond client meetings , encompassing leadershipteam that includes Chief Invest - the tax ramifications , the Brandywine Oak awide range of in - person and virtual events . ment Officer Peter Kim , Chief Compliance tax team works hand in hand with members Forexample , the company hosts a YouTube Officer Brittany Kalsky , and Director of of the wealth advisory team . Clients benefit channel that offers “ Oak Insights ” on topics MarketingDionna Poluch , ” she says . “ That as a result , according to Alison Dorsman , ranging from health savings accounts and hasled to several distinct benefits , including CFP ® , CRPC ® , Co - Founder , Co - CEO , and legacy planning to cryptocurrency . creating more open communication Private Wealth Advisor . The firm practices what it preaches by between Michael and me , as well as with “ Michael and I work closely together prioritizingprofessional development . Team the entire firm . We receive feedback on to establish a customized tax strategy [ for members are dedicated to continuing edu - areas that can be improved upon , enabling each client ] at the start of a year , ” she cationand sharpening their respective skill us to address them promptly . This approach says . “ We share those projections with sets . Recently , they attended the AICPA has created a culture where we all strive Chris , and let him know if there are any ( American Institute of Certified Public to excel at the highest level . ” expectations for charitable donations , qual - Accountants ) Engage conference in Las Brandywine Oak’s commitment to ified distributions , or anything else that Vegas and the Wealth Management EDGE excellence has resulted in numerous could change their tax projections . It’s conference in Boca Raton , Florida . These national accolades over the years . These really consistent and an ongoing collabo - eventshave equipped them with advanced accolades include being featured on pres - ration between the two entities . ” knowledge in investment strategies , tigious lists such as Forbes Top 250 Wealth advanced tax strategies , asset protection , Advisors , Barron’s Top 100 Independent Who They Serve and complex estate planning , enabling Advisors , Barron’s Top 1200 Financial Advi - The firm’s typical client is someone age them to better serve their clients . sors , Forbes TopWomen Wealth Advisors 50 or older with $ 2.5 million or more in Best - In - State , Forbes Top Next - Gen Wealth investable liquid assets . Michael says the A Culture of Winning Advisors , RIA Edge 100 list , and USA Today’s firm prefers to work with clients who have Since its founding six years ago , Brandywine Best Advisory Firms list . earned their wealth through years of hard OakPrivate Wealth has continually achieved “ Wehave a great group of people here work and personal sacrifice , including cor - new levels of sophistication and growth . with innate qualities that make them good porate executives . While some clients rely As the firm’s assets under management at what they do , ” Michael says . “ We want on Brandywine Oak for specific aspects of have grown — well over $ 1 billion , as of to help alleviate anxiety families have over their financial lives , such as taxes or wealth mid - 2024 — sohas its team . Approximately financial decisions , and we’re here to exe - management , most utilize all of the firm’s three - quarters of its 20 - person staff are cute on their behalf so they can focus on resources and capabilities . women , which Michael describes as a what matters most to them . ” ? No matter the need , Brandywine Oak deliberate choice to counter the traditional ? involves the client in every phase of the makeup of a wealth management firm . process : planning , implementation , and To ensure every family receives the evaluation . This approach ensures trans - best possible service , each family benefits For more information parency and empowers clients to take an from the guidance of a designated Rela - about Brandywine Oak active role in their financial affairs . Brandy - tionshipManager who serves as a primary Private Wealth , visit wine Oak aims to answer questions such point of contact . The Relationship Manager as : “ Am I overpaying in taxes ? ” “ Can I serves as a conduit , connecting clients BrandywineOak.com eliminateor minimize financial blind spots ? ” with the various credentialed professionals or call ( 484 ) 785 - 0050 . and “ Can I afford to retire and perhaps within the firm . even improve my lifestyle in retirement ? ” Alison says the firm has adopted other SUBURBANLIFEMAGAZINE.COM VOLUME 15 ISSUE 10 | 57

view text

input

view_module

keyboard_arrow_left

keyboard_arrow_right