By Thomas Britt

It’s probably safe to say that we will all be happy to wrap up 2020 and embrace 2021 with a renewed sense of positivity and hope. That being said, hardship can also bring opportunities to grow, adapt, and reprioritize what’s most important to you. We believe there are many reasons to be grateful this year, despite the many challenges we have faced.

Look For The Good

Let’s reflect on the good things we’ve experienced in 2020! Our firm had a successful year, welcoming a number of new clients into the Benchmark family. We are grateful to our existing clients who refer friends and family, and we consider this the highest compliment we can receive. We appreciate the opportunity to expand our client base and to share our holistic approach to financial planning and wealth management with those who are new to us.

Market volatility and COVID-19 did cause us a few sleepless nights; however, our emergency preparedness planning and business continuity plan allowed us to provide you with the service you’ve come to rely on without interruption. While we remained in the office, we moved the majority of our client meetings online and will continue to offer this as an option in the coming year. Thank you for your willingness to embrace new technologies. It’s amazing what can be done when we all work together!

We have been working on an updated, refreshed website and look forward to sharing it with everyone at the beginning of the year. We hope that our new site will act as a conduit to financial information and resources you may find helpful and, at the same time, offer you the opportunity to learn more about our philosophy and how we do business.

Thank You For A Wonderful Year!

This year has served to remind us how important human connection is in our daily lives, and we want you to know how much we value our interactions with each and every one of you. We are grateful for the opportunity to work with, and for, you.

We hope that in serving you we have provided your family comfort in knowing that we are here to help whenever you have questions or concerns. We understand that life changes can happen at any moment, and we want you to rest easy knowing that when you need advice, guidance, or simply someone who will listen, we’re here for you.

As we prepare to enter a new year, we look forward to continuing to help you achieve your financial goals in 2021. Here’s wishing you joy and laughter during the holiday season and a happy new year!

Let’s Connect!

If either Rick or I can answer any questions, offer our insight, or if you’d like to review where your finances stand and adjust what to focus on in the coming months, please don’t hesitate to reach out. Appointments can be scheduled by calling 860-434-6890 or emailing us directly at thomas.britt@bwmllc.net or richard.stout@bwmllc.net.

We extend our very best wishes to you and yours during the festive season.

About Thomas

Thomas J. Britt is managing director of Benchmark Wealth Management, LLC, with 20 years of experience in the financial industry. He specializes in executive financial planning, retirement planning, investing, as well as the management of trusts and endowments. Thomas is a CERTIFIED FINANCIAL PLANNER™ (CFP®) professional and holds the Master Planner Advanced StudiesSM (MPAS®), Certified Investment Management Analyst (CIMA®), and Chartered Retirement Planning Counselor (CRPC®) designations. He earned a Bachelor of Science in Finance from the University of New Haven, an MBA in financial technology from Rensselaer Polytechnic Institute, and a Master of Science in Personal Financial Planning from the College for Financial Planning. He is also a proud veteran of the United States Navy Submarine Force. Learn more about Tom by connecting with him on LinkedIn.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2, available upon request or at the SEC’s Investment Advisor Public Disclosure site, www.adviserinfo.sec.gov/firm/160192

Securities offered through Private Client Services, Member FINRA, SIPC in the following states: AZ, CA, CT, FL, KY, MA, ME, MI, MN, NH, NJ, NY, RI, TX. (Securities-related services may not be provided to individuals residing in any state not previously listed) Advisory services offered through Benchmark Wealth Management, LLC a Registered Investment Advisor. Private Client Services is an unaffiliated entity.

By Richard W. Stout III

If you are looking for a fresh start with your financial plan, you are not alone. 2020 has been a year of reflection, with many investors reconsidering priorities, how well they are prepared for the unexpected, and how they can remove anxiety from their financial lives. What does the loss of a job, an unexpected illness, an unexpected expense, or a historically turbulent stock market mean for your financial plan?

Our clients have living financial plans that permit us to answer these questions, and others, quickly, accurately, and assuredly. Knowing where one stands, both now and well into the future, is a tremendous relief and can assist in dealing with the unknowns we all face. A living financial plan accomplishes this. Here are some important considerations as you review your financial plan and how it is positioned entering 2021.

Is Your Financial Planner a True Fiduciary?

Financial professionals can operate under two sets of standards: the regulation best interest standard and the fiduciary standard. Under the fiduciary standard, financial professionals are required by law to act in their clients’ best interests at all times. The regulation best interest standard, which took effect last June, aimed to elevate the level of transparency between financial professionals, broker-dealers in particular, and their clients. It is a move in the right direction, but the regulation best interest standard is still roomier in terms of its restrictions compared with the fiduciary standard. Do you know if your financial planner is a true fiduciary? You can search the SEC database to find out. If your financial professional’s firm shows up when you search for them using this tool, they are operating as a Registered Investment Advisor and bound by the fiduciary standard.

How Much Are You Paying in Investment Fes?

When was the last time you asked your financial professional about fees? Make sure you understand how much you are paying them to manage your financial plan and your investments supporting your plan. Understand what your investments’ expense ratios are, the existence of any front-end sales loads, and if these expenses include 12-B1 fees. If your financial professional is not operating under the fiduciary standard, are they making recommendations based on your best interest only? Ensure you understand the fees you pay in totality and seek out a second opinion if you are unsure about any of them.

Our Fees and What We Offer

At Benchmark Wealth Management, we believe in transparency. We also believe that a financial planner should only do well when their clients are doing well. That is why we utilize a simple percentage-based fee schedule on assets under management to both create and monitor their financial plan and build an investment portfolio to support it:

Household Assets Annual Fee

$1,000,000 and below 1.000%

$1,000,001 – $2,000,000 0.875%

$2,000,001 – $5,000,000 0.750%

$5,000,001 and above Custom pricing

Utilizing this type of approach encourages a transparent and objective partnership with our clients. We are here to help with all your complete planning, investment management, estate, and retirement needs, and we offer compelling value delivered with exceptional service.

Is Your Financial Plan Ready for 2021?

Make sure your financial plan is ready for the unpredictability of 2021 and beyond. With market volatility, election cycle fallout, active global pandemic, unemployment, and business cycle uncertainty, 2021 will likely be another anxious year for investors. Is your financial plan positioned to meet your goals today and throughout your and your loved ones’ lifetime?

Your financial plan’s strength should be built to withstand market corrections, uncertainty, and be based on reasonable assumptions. By addressing those inputs that can be managed, and making conservative, reasonable assumptions for those areas that appear uncontrollable, a living financial plan keeps you on track, reduces the anxiety uncertainty brings, and prevents the reactive decisions that regularly derail proper planning. Good plans do not have a “PANIC” section.

Get Started Now!

Get on track for 2021 with a fresh start to your financial plan by scheduling a meeting with us today. At Benchmark Wealth Management, our goal is to deliver unsurpassed wealth management to our clients. With our commitment to proactive and responsive service, a transparent fee schedule, and a range of service offerings, we’re dedicated to providing the highest levels of service and value our clients deserve. Please call 860.434.6890 or email me at richard.stout@bwmllc.net to schedule a consultation.

About Rick

Richard W. Stout III is managing director of Benchmark Wealth Management, LLC, with 25 years of experience in the financial industry. He specializes in financial planning and asset management for individuals, families, and institutions seeking to build and monitor durable and sustainable plans for their financial futures. Rick is a Certified Financial Planner™ professional and holds the Accredited Investment Fiduciary (AIF®) designation. He has earned a Master of Science degree in Personal Financial Planning from the College for Financial Planning and holds the Master Planner Advanced StudiesSM (MPAS®). He obtained his MBA from Rensselaer Polytechnic Institute and his BA in Economics and Anthropology from the University of Connecticut. He also completed the Accredited Wealth Management Advisor (AWM®) program through the Estate and Wealth Strategies Institute at Michigan State University. He has extensive background experience in lending, credit review and analysis, and real estate and partnership management. Learn more about Rick by connecting with him on LinkedIn.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2, available upon request or at the SEC’s Investment Advisor Public Disclosure site, www.iapd.com, searching with our company name or unique identifier, CRD # 160192. Past performance is not a guarantee of future results.

Securities offered by Registered Representatives through Private Client Services, Member FINRA, SIPC in the following states: AZ, CA, CT, FL, KY, MA, ME, MI, MN, NH, NJ, NY, RI, TX. (Securities-related services may not be provided to individuals residing in any state not previously listed) Advisory services offered through Benchmark Wealth Management, LLC a Registered Investment Advisor. Benchmark Wealth Management and Private Client Services are unaffiliated entities.

By Richard W. Stout III and Thomas Britt

At Benchmark Wealth Management, we believe that there is more to wealth than just building it. We have a long history of community involvement and we’ve made the habit of doing good for others part of our business philosophy. We’re fortunate to be able to use our resources and our firm’s influence to make a difference in our community and, in so doing, serve as a catalyst to others. From volunteering time and expertise to making financial contributions, the impact of giving can be substantial and truly create a success that is shared.

Help For The Vulnerable

Benchmark has been a proud supporter of the Lymes’ Youth Service Bureau (LYSB) since our firm’s founding. When COVID-19 shutdowns began, we partnered with them to provide financial support for the most vulnerable residents of Lyme and Old Lyme. Funds raised ensured essential needs such as groceries, fuel, and rental assistance were met. We stand arm in arm with our community in both good times and times of need.

Supporting Our Local Therapeutic Riding Organization

Old Lyme is home to an extremely valued resource in our community, High Hopes Therapeutic Riding, providing beneficial services for those with physical, emotional, and developmental disabilities. As a sponsor of the annual High Hopes Holiday Market, one of their major fundraising events, we are grateful for the opportunity to aid them in raising awareness and funding for their vital programs.

Generosity Is Always Worth It

It’s because of your support of Benchmark Wealth Management that we can give back to our community in such impactful ways. We encourage you to think of ways you can pay it forward to those around you, especially during these trying times. If you want more information about our firm, our role in the community, or how we can help you build charitable giving into your financial plan, we’d love to hear from you. Appointments can be scheduled by calling 860-434-6890 or emailing us directly at thomas.britt@bwmllc.net or richard.stout@bwmllc.net.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2, available upon request or at the SEC’s Investment Advisor Public Disclosure site, www.adviserinfo.sec.gov/firm/160192

Securities offered by Registered Representatives through Private Client Services, Member FINRA, SIPC in the following states: AZ, CA, CT, FL, KY, MA, ME, MI, MN, NH, NJ, NY, RI, TX. (Securities-related services may not be provided to individuals residing in any state not previously listed) Advisory services offered through Benchmark Wealth Management, LLC a Registered Investment Advisor. Benchmark Wealth Management and Private Client Services are unaffiliated entities.