The advantages of personal financial planning cannot be overstated, as shown by this case study highlighting the journey of a partner at a Pennsylvania architecture firm. Wanting to overcome the uncertainty surrounding their retirement, they worked with Sensenig Capital Advisors to craft a comprehensive strategy aligned with their goals.

This case study underscores how a tailored approach considering individual goals and circumstances can pave the way to financial clarity and confidence. Through Sensenig’s expert guidance, the client integrated various financial aspects into a cohesive plan that will significantly impact their financial trajectory.

Sensenig Capital Advisors had previously helped a Pennsylvania architecture firm find a higher-performing 401(k) option, providing regular education sessions for their 401(k) participants. During a session, one of those participants and a partner in the firm shared that they were looking for an advisor who could manage their entire financial picture. They had worked with financial advisors in the past but hadn’t yet found the right match and felt uncertain about their retirement timeline.

The client’s ambitious retirement goals and the unique circumstances of being a partner in a successful architecture firm made it essential to find someone qualified to pull all their financial assets together into a holistic plan that would allow them to reach their goals. Without a personal financial plan, they had no way of knowing what steps to take to meet their timeline

The team at Sensenig Capital knew this client would quickly see the advantages of personal financial planning and began taking the client through the process:

1. 1. Discovery: data collection and consolidation of accounts to begin forming a holistic overview of their financial picture.
   2. Exploration: a conversation with the client about their goals — when and where do they want to retire? What sort of lifestyle will they want to lead?
   3. Planning: combining the client’s current financial state and future goals to create a plan to reach those goals.
   4. Execution: handling the blocking and tackling of implementing the detailed recommendations for the client.

There are unique financial aspects to having a partnership at an architecture firm. For example, in some instances, partners might need to give notice of their desired retirement date several years in advance. In addition, partnership payouts could be in the form of a lump-sum payment, multi-year payments, or a combination of the two, providing an opportunity for potential tax planning. The ability to sync a partner’s financial details and 401(k)s is uncommon, but their prior experience working with the firm equipped Sensenig to incorporate those aspects and ensure the client’s personal financial plan is customized with the highest possible accuracy. Accuracy is essential to ensuring a partner’s financial plan stays on track especially considering the unique factors described above.

With personal financial planning experts on their side, the client now has a roadmap to help them make decisions and navigate life changes in a way that will keep them on the path to reaching their retirement goals. This is one of the top advantages of personal financial planning: retirement no longer feels like guesswork — instead, they have an accurate, data-driven plan to rely on. To create an even more complete financial plan, Sensenig will also help the client incorporate insurance evaluations, tax planning, and estate planning, focusing on long-term goals and building more retirement confidence for the client.