Financial Planning Guide 2024
Hear what our experts have to offer in regard to your financial plans.
Financial Planning is for Everyone
Social media is rife with so-called financial planners offering free advice that may not fit everyone. But in real life, financial planners are professionals with the know-how to match specific clients with the right products and services. Once they know their clients’ hopes and challenges, financial planners can tailor plans customized for specific needs over time, whether those clients are employees planning for retirement, small-business owners looking to maintain work-life balance, or nonprofits seeking assurance that they can pursue their missions over the long term. They give their clients baseline understandings of their current financial situations and clear pathways to the future.
Hawaii State Federal Credit Union: Pensions Are Just the Beginning
Employees with pension benefits may be rare, but financial advisors at the Hawaii State Federal Credit Union see them every day. While the credit union serves a broad market, state employees still constitute their largest base. “Our financial advisors are well versed in building a plan based on their pension, deferred comp, Social Security benefits” and can fill potential gaps, such as in long-term care coverage, insurance or estate planning, says David Kimura, HSFCU Investment Services vice president and program manager.
Sean Umetsu, an HSFCU senior financial advisor and certified financial planner, says that employees with pensions can become complacent about opportunities to grow their money and further improve their lives. By adjusting how they invest, they might find they can comfortably afford more of the things they enjoy, like nice dinners or traveling to new places. “During planning, sometimes we come across situations where they may be investing their funds too conservatively for their situation,” Umetsu says. In those cases, by repositioning investments according to their time frames, their goals and their risk tolerance, “we find adjustments that add value to their retirement, or even ultimately their beneficiaries.”
WestPac Wealth Partners: Peace of Mind, and Time to Spare
WestPac Wealth Partners focuses on comprehensive financial planning for small business owners, families and nonprofit organizations. This means creating a relationship with clients, customizing appropriate strategies, and connecting those clients with a variety of specialists as their aspirations evolve.
According to Spencer Dung, WestPac’s managing director, “Small-business owners are challenged with how to manage personal and business finances, figuring out where one starts and the other ends, and vice versa.” These owners, he says, are often busy running day-to-day operations and don’t have the opportunity to explore their options for financial planning.
Nonprofits experience similar pressures, Dung says. “People are so passionate about their mission that they sometimes forget it’s still a business, just with a different tax treatment. Just because you’re a nonprofit doesn’t mean you shouldn’t try to be efficient with your finances.” For both, investing time upfront for comprehensive financial planning can free them to fulfill their primary purposes for years to come. “Having a plan actually gives you more time back, it gives you the freedom to redirect your energy to spending time with your family, building your team and taking your organization where it needs to go,” says Dung.
WestPac® Wealth Partners offers comprehensive financial planning for business owners, families, and individuals, tailoring strategies to individual needs.
With a commitment to understanding your specific goals, we provide personalized solutions that adapt over time and incorporate wealth management, retirement planning, estate planning, and risk management; all aimed at protecting your financial future. We leverage our experience and work with numerous professional partners to navigate financial complexities to ensure clarity and confidence in every decision. Through education and proactive guidance, WestPac Wealth Partners empowers clients, fostering enduring financial success.
WestPac Wealth Partners is an Agency of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Securities products and advisory services offered through Park Avenue Securities, LLC (PAS), member FINRA, SIPC. OSJ: 5280 Carroll Canyon Rd., #300 San Diego, CA 92121 619.684.6400. PAS is a wholly owned subsidiary of Guardian. This firm is not an affiliate or subsidiary of PAS. Insurance products offered through WestPac Wealth Partners and Insurance Services, LLC, a DBA of WestPac Wealth Partners, LLC. | CA Insurance License #0I29680 | 7031825.1 Exp. 09/26
WestPac® Wealth Partners
500 Ala Moana Blvd Suite 3-400
Honolulu, HI 96813
(808) 695-2100
www.westpacwealth.com/hawaii
