FAQs
While these are meant to provide general guidance, every situation is unique. Please always consult directly with us before making any financial decisions.
Wealth Management
What is Private Wealth Management, and how does it work?
Private Wealth Management is a personalized approach to managing your finances. It includes investment management, retirement planning, tax strategies, estate planning, and risk management. At Flagship Capital Advisors, we take a holistic view of your financial life and build a strategy tailored to your goals.
How do I know if I need a Private Wealth Manager?
You may benefit from a Private Wealth Manager if you have complex financial needs, significant assets, or want a long-term strategy that integrates investments, taxes, and estate planning.
What makes Flagship Capital Advisors different from other financial services firms?
Our approach is client-centered, transparent, and designed to align every part of your financial life with your long-term goals. We take time to understand your complete financial picture, develop a personalized financial plan, and then build investment strategies that work within that plan to help you achieve your goals.
How can a wealth management plan help me retire comfortably?
A wealth management plan helps you create an income plan for retirement. We model your income, savings, investments, and expenses to develop a retirement income strategy.
How do you create a personalized financial plan for clients?
We start by understanding your goals, values, and concerns. Then we build a tailored plan that covers investments, taxes, retirement, and estate planning. We review it regularly to ensure it stays aligned with your needs.
What investment strategies do you recommend for long-term growth?
We focus on diversification, disciplined risk management, and tax-efficient investing. Our strategies are designed to balance growth with protection so your wealth can withstand market ups and downs.
What is the difference between wealth management and financial planning?
Financial planning focuses on understanding cash flow, saving, and specific goals like retirement or college. Wealth management is broader—it integrates investments, estate strategies, and risk management into one coordinated plan.
Life Insurance
What type of life insurance is best: term life or permanent life?
It depends on your needs. Term life is affordable coverage for a set number of years, while permanent life insurance lasts your entire lifetime and can build cash value. We help clients evaluate which option best fits their goals and family needs.
How much life insurance coverage do I really need?
A common rule is 10 to 15 times your annual income, but coverage should be based on your family’s needs, debts, lifestyle, and long-term goals. We run personalized calculations to recommend the right amount.
How does life insurance fit into a wealth management plan?
Life insurance provides financial protection for your family and can also serve as a tax-advantaged tool for estate planning, wealth transfer, and even supplemental retirement income.
Can life insurance help protect my family’s financial future?
Yes. Life insurance ensures your loved ones have money to cover living expenses, debts, education costs, and future financial needs if something happens to you.
What are the tax advantages of life insurance?
Life insurance death benefits are generally income tax-free. Some permanent policies also build cash value that grows tax-deferred and can be accessed tax-advantaged in retirement.
How can life insurance be used in estate planning?
Life insurance can provide liquidity to cover estate taxes, equalize inheritances, or fund trusts. It’s a powerful way to transfer wealth efficiently.
What’s the difference between term life, whole life and universal life insurance?
- Term life: Affordable coverage for a set period of time (10, 20, or 30 years).
- Whole life: Lifetime coverage with guaranteed premiums and cash value growth.
- Universal life: Flexible premiums and adjustable coverage.
Is life insurance necessary if I already have savings and investments?
Yes, because savings can be unpredictable, while life insurance guarantees protection. It ensures your family has immediate funds without having to liquidate investments.
How do I know if my current life insurance policy is still right for me?
You should review your policy regularly. Life events like marriage, children, or retirement may require adjustments. We offer policy reviews to make sure your coverage still matches your needs.
Can life insurance be used to leave a legacy or charitable gift?
Absolutely. Many clients use life insurance to fund charitable donations or leave a legacy for future generations while preserving their other assets.
What are living benefit riders, and how do they work?
Living benefit riders are optional features that allow you to access a portion of your life insurance death benefit while you’re still living, typically in cases of a chronic, critical, or terminal illness. These riders can provide financial flexibility for medical expenses or income replacement during a difficult time, without having to surrender your policy.
Specialized Planning
Does Flagship Capital Advisors work with both individuals and couples?
Yes. We work with individuals, couples, and families at all stages of life. Whether you’re managing finances on your own or making decisions together as a couple, we help create clear strategies that align with your goals.
How do you help couples plan for retirement together?
We take both partners’ incomes, savings, pensions, and Social Security benefits into account. Our goal is to build a retirement plan that provides income for both spouses and protects the surviving spouse financially.
Can you help with financial planning after a divorce?
Yes. Divorce can significantly change your financial situation. We help clients create new financial plans that account for asset division, spousal or child support, tax changes, and future goals. We can also assist with qualified domestic relations orders (QDROs).
Why is it important to review financial plans after divorce?
Divorce affects everything from retirement accounts to insurance policies and estate plans. Reviewing your finances can help ensure your new plan reflects your current needs and can help protect your future.
How can a wealth advisor help maximize Social Security benefits?
We analyze your options for claiming Social Security, including spousal benefits, survivor benefits, and timing strategies. This ensures you receive the maximum lifetime income possible from Social Security.
Can divorced individuals claim Social Security benefits based on an ex-spouse’s record?
Yes. If you were married for at least 10 years, divorced for at least two years, and have not remarried, you may qualify for benefits based on your ex-spouse’s earnings record. We help clients determine eligibility and timing.
How do you help widows and widowers with Social Security planning?
Survivor benefits can provide income after the death of a spouse. We work with widows and widowers to coordinate survivor benefits with retirement income, ensuring financial security during a difficult time.
What is a CEPA, and how can working with one benefit me?
A CEPA, Certified Exit Planning Advisor, helps business owners prepare for transitioning and monetizing their business. With 80% of their net worth typically tied to their business, the goal is to bring liquidity and legacy to this asset while aligning personal, business, and financial goals for a secure retirement. At Flagship Capital Advisors, our CEPA-certified advisor uses the Value Acceleration Methodology™, aiming to maximize value, reduce taxes, and support long-term wealth and retirement goals throughout the exit planning stages.
Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Securities offered through Registered Representatives of Cambridge Investment Research, a Broker/Dealer, Member FINRA/SIPC. Cambridge and Flagship Capital Advisors, Inc. are not affiliated.
Cambridge does not offer tax or legal advice.
Insurance services offered through Flagship Capital Advisors, Inc.