Published On : 07/01/2024

Spend It, But Safely: The Secret to Managing Funds for a Happy Retirement

Renowned financial advisory firm Watermark Wealth Strategies LLC is breaking the mold by encouraging safe spending in retirement years.

It might sound counterintuitive but Kyle Richardson, the Founding Partner of award-winning financial advisory firm Watermark Wealth Strategies LLC, helps his clients make the most of their retirement years by encouraging them to spend their spoils. “I like to help my clients make amazing memories by creating a retirement plan that allows them to spend their profits safely,” Richardson says.

Based in Chandler, Arizona, Watermark Wealth Strategies LLC tailors retirement and legacy plans to each client using a tried-and-tested 4 step process. “The discovery phase is all about us getting to know the client,” Richardson explains. “We sit down to learn everything about where they are now and where they want to be. We factor in savings, tax planning and legacies for children and grandchildren if that’s the case.”

The second phase concerns strategy. Using bespoke goals and information, Richardson will set out a long-term plan for that client and discuss it with them. “We then implement this strategy as the third phase,” he says. “We are available 24/7 to our clients for their peace of mind, it really is a white glove service.”

Responding to events has to be considered in any sound financial planning, so the fourth phase is monitoring and adjustment. “Our skilled team will constantly be in touch with the health of the portfolio, adjusting as necessary if global events change things,” Richardson says. “Our flexible investment approach and client communication means that our clients rest assured they are spending money in the most efficient way possible.”

For example, if someone wanted to buy an RV in a few years’ time, it would be encouraged and incorporated into their personal spending plan. “We hear all the time that we are the only financial planning firm that is encouraging them to spend more,” smiles Richardson. “We make sure our plans allow for safe spending, so our clients can enjoy their lives with a feeling of total security for them and their families.”

Family is a key word in the ethos of Watermark Wealth Strategies LLC. With a client base of almost 100% referrals, the relationships they build are essential to their success. “We have never had a client return to work in 25 years,” says Richardson. “We run a full analysis and give conservative projections that cover many variables.”

This careful strategy is also family-related. “My mom told me once, ‘Imagine I’m sitting in that client’s chair every single time.’ So I treat the client like I would treat my closest family member and it has changed everything,” Richardson says. This notion of clients as family is not just lip service. Watermark Wealth Strategies LLC stays connected with their clients through monthly Happy Hour events.

“We get food trucks at these get-togethers and stay in touch with our clients in a relaxed atmosphere,” he says. “We get to know each other much better over a glass of wine than in a conference room and this ultimately builds trust, which can only support these relationships.” Clients bring family, friends or colleagues who also might be looking for comprehensive retirement planning, so they can meet and greet each other more informally.

Taking on 30 to 35 new clients each year, Watermark Wealth Strategies LLC are growing in a highly strategized manner and creating a community of retirees or soon-to-be retirees that are making their hard-earned savings work for them. Working across a variety of industries including tech, microchip, schools, healthcare and aerospace, Watermark Wealth Strategies LLC are expertly managing 401(k)s and profit sharing for employees, including an exclusive partnership with Southwest Airlines.

“We are accessible and knowledgeable,” says Richardson. “I am a Certified Financial Planner (CFP) with fiduciary duties I take very seriously. I have been in the business so long that the language of it all is second nature to me, but I can still explain the concepts clearly to incoming clients who need reassurance after being scarred by other firms. We show them the integrity of our operation.”

Care is a crucial ingredient in the first-class team that runs these portfolios. Richardson has assembled a staff that genuinely cares about doing the best for their clients. “We commit to our existing clients,” says Richardson. “That is why the referral system works so well that we don’t need to spend resources on much marketing. We focus on our client base and it grows from there.” One such clientele that has reaped the benefits of working alongside Watermark is Southwest Airlines, with whom the company has shared a 20-year partnership.

In terms of advice on retirement in general, Richardson asserts that it is never too early to start saving. With a prestigious award from LPL Financial (the largest independent broker dealer in the US) in summer 2024, Watermark Wealth Strategies LLC are gaining attention in the industry because of their outstanding leadership that saw them grow $230 million of assets under management to $1.5 billion in 14 years.

These astounding numbers speak for themselves but it is Richardson’s warm and humane approach to retirement planning that leaves the lasting impression.

For more information on how Watermark Wealth Strategies LLC can transform your retirement years, check out their website.

Jessica Weisman-Pitts

Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.