In addition to a personal Financial Advisor, your Financial Services Team includes dedicated CERTIFIED FINANCIAL PLANNER™ professionals, insurance and annuity specialists, and experienced investment management analysts—all working to create a solid plan to give you the confidence to worry less about the future, and live more for today.

Click Here to meet our Financial Services team.

 

Financial Planning

Since a good financial plan starts with your personal situation, we begin by listening to you.  After outlining your life goals, quantifying expenses and financial resources, and defining your investment risk temperament, we customize an analysis to help you prepare for tomorrow—whether that includes saving for a child’s education, planning for retirement or passing on your estate.

Here are some helpful resources for you to get started.

Financial Planning Basics

Financial Planning Life Stages 

Estate Planning Checklist 

Family Preparedness Booklet 

Medicare

MoneyGuidePro®

Social Security 101

Tax Planning Guide 

Year End Checklist

 

 

Personal Retirement Plans

Saving for retirement is one of the most important financial decisions you can make. We specialize in retirement planning for individuals and businesses, and offer guidance and investment solutions to help make your goals a reality.

If you’re not taking advantage of an Individual Retirement Account (IRA), you may be missing out on an exceptional opportunity to save for a secure retirement.  Depending on your income and personal situation, you may qualify for one of the following accounts:

ROTH IRA

  • Contributions are not tax deductible, but your money can accumulate tax free.
  • Tax-free and penalty-free withdrawals of annual contributions may be made at any time.
  • Tax-free and penalty-free withdrawals of earnings may be made after five years:
    • Upon reaching age 59½
    • For purchasing a first home (up to $10,000)
    • In case of death or disability
  • No requirement to begin taking distributions at age 72, and you can continue making contributions if you’re still working.

TRADITIONAL IRA

  • Contributions may be tax deductible depending on your earned income.
  • Your savings benefit from tax-deferred growth (withdrawals are subject to tax).
  • Penalty-free withdrawals are available for post secondary education, first home purchase (up to $10,000) and certain medical expenses.

If you’re not sure where you stand toward reaching your retirement goals, establishing a Davenport IRA rollover account can help you get a consolidated view. Benefits include:

  • Simplified recordkeeping.
  • Ease of setting asset allocation and periodic rebalancing.
  • An experienced financial advisor to consult on the progress toward your goals.
  • Access to professional investment management and monitoring.

There may be fees associated with establishing and maintaining an IRA. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets. Information has been complied form sources believed to be reliable: however, Davenport does not guarantee the accuracy or completeness of the information presented. Davenport & Company is a financial services firm and does not provide tax or legal advice. Please consult your professional account or legal advisors prior to acting on any information provided by us that may have an effect in these areas. 

 

Corporate Retirement Planning

The IRS and Department of Labor guidelines give significant tax advantages and other incentives to businesses that establish retirement plans. Our experts serve as consultants and facilitators to make sure your company’s needs and concerns are carefully considered when developing your plan.

REPRESENTATIVE CORE SERVICES

  • Plan Selection and Design
  • Plan Installation
  • Plan Documents
  • Provider Search and Analysis
  • Participant Communication and Education Support
  • Plan Recordkeeping and Administration
  • Investment Alternatives to Address Particular Needs

THREE POPULAR PLANS

  • Simplified Employee Pension Plans (SEPS-IRAs)
  • SIMPLE IRAs
  • SoloKs

PLAN INCLUSIONS

  • Profit-Sharing Plans
  • Traditional 401(k) Plans
  • Safe Harbor 401(k) Plans
  • Defined Benefit Plans

Davenport & Company is a financial services firm and does not provide tax or legal advice. Please consult your professional accounting or legal advisors prior to acting on any information provided by us that may have an effect in these areas.

 

Insurance

Due to the potential complexity of insurance planning, we offer a complimentary review of existing life, disability and long-term care insurance policies. Our analysis of your insurance needs will provide additional comfort that you have the protection you need for your assets and loved ones, and if necessary, deliver cost-effective solutions appropriate for your desired level of coverage.

 

Annuities

As a long-term investment vehicle, annuities* offer valuable retirement and legacy-planning benefits.

If you’re looking to grow an asset with a protected value for your spouse or other heirs, variable annuities offer the ability to invest your funds with many well-known investment managers, while providing a minimum value that will pass to your beneficiaries, regardless of investment performance.

Are you concerned about running out of money or market fluctuations’ controlling your retirement? What if you could invest today, and know exactly how much income to expect at retirement? What if that income had the ability to grow? Annuities are uniquely designed to provide lifetime income for you or joint lifetime income for you and your spouse.

If you’re seeking tax deferral, protection of your assets for heirs, or lifetime income, we offer fixed and variable annuities* from highly rated insurance companies and professional money managers. Ask your financial advisor for more information to determine if an annuity might be right for your overall plan.

If you already have an annuity, we can provide a complimentary review to determine if it’s still on track with your long-term goals. Our Financial Services Department offers more than 15 years of experience evaluating annuity contracts—experience we can put to work for you.

 

*Annuities are long-term investments intended for retirement planning. Withdrawals of earnings and other distributions of taxable amounts are subject to ordinary income taxes, and, if taken prior to age 59 ½, an additional 10% premature withdrawal penalty may apply. Fees and expense for these products may be higher, and the surrender period may be longer than contracts without these enhanced features and benefits. Annuity contracts may not be appropriate for some clients. You should carefully consider whether an annuity is right for you after a thorough discussion with your Financial Advisor. Certain benefits may provide reduced values at advanced ages, and insurance companies may force annuitization at a certain age. Please consider these items carefully before purchasing any annuity contract.