Services

At Galecki Financial Management, our comprehensive services reflect a process that we believe is ideal for helping clients reach their financial goals. At every step, these services are tailored to meet your specific needs.

We are here to serve you in all of your financial needs.

Initial Financial Overview

In the initial financial overview, we create a complete overview of your current financial situation.

Broad-Based Financial Planning

The process of determining where you are, where you’re going, and how best to get there.

Medical Investment Advisory

Planning and wealth management for physicians and medical groups.

Asset Management

We design and manage diversified portfolios using no-load mutual funds and individual stocks and bonds.

Retirement Planning

We serve as a fiduciary for our clients at all times helping our clients prepare for retirement.

Tax Planning

While we do not prepare tax returns, we provides comprehensive tax planning for both individuals and businesses.

Estate Planning

One of the key pieces of the financial planning process is a review of one’s estate plan.

Divorce/Life Transition Planning

Our experience and expertise provides significant value and confidence at a time when it is much needed.

Initial Financial Overview

The Initial Financial Overview (IFO) is packaged as a two hour review of the Client’s current financial position. It is designed to be an overview of their current situations with projections based on certain assumptions.

Click to download the Initial Financial Overview (IFO) Questionnaire.

The IFO may cover items such as retirement cash flow analysis, education funding and planning, tax planning, insurance analysis, estate planning and investment allocation and planning. The direction of the IFO typically depends on the needs of the Client.
 
The IFO will come with reports outlining the projections and a letter discussing the assumptions, results and recommendations. The fee for the IFO is $775.  If a client utilizes our Asset Management services within 6 months of the IFO, the IFO fee is typically reimbursed to the Client on their first Asset Management invoice.

Unsplash Stock Image
Unsplash Stock Image

Broad-Based Financial Planning

At Galecki, financial planning is the process of determining where you are, where you’re going, and how best to get there. We use sophisticated and complex software to customize a plan to fit your personal situation, goals and objectives. We gather data, we perform in-depth analysis, we quantify your goals and needs, and as the picture comes into focus, we plot out the most effective and efficient use of your economic resources. The result is a financial plan that is designed to help you:

  • Reduce income taxes
  • Meet education goals
  • Plan for retirement needs
  • Increase cash flow
  • Use insurance premium dollars more effectively
  • Better utilize employee benefits
  • Reduce estate taxes

Medical Investment Advisory

Galecki Financial Management also has significant experience in planning and wealth management for physicians and medical groups. Our medical investment advisory services includes employee seminars, diversified portfolio strategies, pooled investment options for employees, performance evaluations and fund selection, and financial planning paid with pre-tax dollars.

Asset Management

At Galecki, we design and manage diversified portfolios using no-load mutual funds and individual stocks and bonds. These financial products do not have sales charges or surrender charges and do not pay commissions. Because our compensation is not based on generating a commission, you can count on the objectivity of our recommendations.

Our personalized investment strategies are long-term in nature and encompass your entire financial situation. We adhere to a disciplined course of investing in which our investment committee uses a rigorous screening process to evaluate, select and monitor investments for your managed portfolio. We focus our research on areas including:

  • Historical returns
  • Low risk relative to other investments in the same category
  • Low risk compared to the market
  • Low expense ratios

Through regularly scheduled meetings, we share with you our strategies and review your portfolio as a whole and the return of each individual investment.

Unsplash Stock Image

Retirement Planning

Because we are fee-only, Galecki Financial Management serves as a fiduciary for our clients at all times. By law, a fiduciary must put clients’ interests before their own, and that’s something we don’t just imply. We put it in writing in all our client agreements.

In addition, Galecki offers retirement plan fiduciary services to companies of all sizes. In these instances, Galecki does not directly manage the assets of the plan, but rather, we:

  • Evaluate the performance of the funds being used by participants
  • Select and recommend funds that should be made available
  • Meet with the board of directors or trustees to review our recommendations and overall fund performances
  • Meet with employees for enrollment and portfolio reviews
  • Review the plan’s chosen trustee
  • Answer any question in a fiduciary capacity

Tax Planning

As part of the financial planning process we will review a client’s tax situation on a periodic basis. While we do not prepare tax returns, Galecki Financial Management provides comprehensive tax planning for both individuals and businesses. We have the knowledge and capability to prepare tax projections and make the appropriate recommendations. We also work tirelessly with the actual tax preparer to ensure the best possible outcome for the client.
 
A client’s tax situation will evolve as they enter different stages in their lives. During one’s peak earnings years we will evaluate the most effective ways to defer income into future, potentially lower tax years. These types of strategies involve evaluating different types of retirement plans, itemized deduction planning and identifying potential tax credits that are available. As individuals begin to move into their retirement and semi-retirement years new opportunities arise. These opportunities include Roth Conversion and distribution planning. Once a client enters retirement we pay particular attention to what their current tax situation is and what it is projected to be in the future. This allows us to maximize their after-tax cash flow each year.
 
The most satisfying parts of the tax planning process are helping families begin to identify the most tax advantaged assets to leave behind for future generations. In addition to this, helping clients identify the most tax efficient methods of giving to charity also provides significant tax advantages for the client. This may allows them to give more than they originally thought they could afford.

Andrew (Andy) Young, CPA/PFS, CFP®

Estate Planning

One of the key pieces of the financial planning process is a review of one’s estate plan. Estate planning can be an arduous process which is often overlooked due to the complexity and depth of what should be reviewed. However, there is nothing more personal than knowing to whom and how ones assets will pass upon death. Accumulation of wealth occurs throughout a lifetime regardless of value and it would be a travesty to not plan accordingly.

The main goal of our Fort Wayne Estate Planning team is to sort through all of the various areas that one should review – account titling, beneficiary designations (ex: Life, Annuities, IRAs, 401k, 403b), and current estate planning documents to ensure that a client’s wishes are actually being carried out upon their passing.

Our Fort Wayne estate planners review a client’s estate plan every few years and prepare a customized presentation pulling out the key components of their Last Wills, Revocable Trusts, Irrevocable Trusts, Durable Powers of Attorney, Health Care Powers of Attorney, and Living Wills. We discuss each document in detail to ensure that the same goals and objectives are being met today as existed when the documents were drafted.  Often, client’s financial and family dynamics change in such a way that changes are needed. We then work directly with the estate planning attorney to update and adjust the documents to best fit their needs.

We also illustrate for the client a detailed analysis showing how each asset on the balance sheet will be handled according to the current estate plan. Fort Wayne estate planner show what taxes might be paid, which assets might fund various trusts established upon passing, or to whom IRAs might be inherited.

Estate planning also anticipates future wealth creation and offers the potential to minimize taxes. In an effort to be forward thinking we might model out how implementing a Grantor Retained Annuity Trust (GRAT) or an Irrevocable Life Insurance Trust (ILIT) will impact their plan and what the benefits and downfalls might entail. By looking individually at each client’s personal needs, wants, and desires we can customize an approach that best fits them. Fort Wayne estate planner role is to have an understanding of the top estate planning techniques in the industry given current tax and estate planning laws and showcase those to each client.

Kevin Chandler, CFP® 
Unsplash Stock Image

Divorce/Life Transition Planning

The repercussions of a divorce can be devastating. The negative effects can be experienced through financial stress, as well as emotional trauma.

Given the economic complexities of divorce, more individuals and attorneys are relying on financial planners who specialize in these transitions to help sort through the monetary consequences. Through her training as a Certified Divorce Financial Analyst, Melanie can analyze and provide expertise on financial issues of divorce, helping to facilitate equitable divorce settlements and provide emotional support and guidance throughout the process.

Some of the factors she will take into consideration include, but are not limited to:

  • Determining tax implications on the sale of the marital home and real estate.
  • Determining if the client can afford to retain the marital home, and if not, what amount they can afford.
  • Determining earnings capabilities and cash flow needs.
  • Establishing assumptions for projected inflation and rate of return on investments.
  • Analyzing pension benefits and retirement plan allocations.

Because of her strong working knowledge of the fiscal issues related to divorce, Melanie can lend considerable support to the legal team in the divorce litigation process. With this information, she can provide the client and attorney with projections that show the financial impact of proposed divorce settlements.

If you are going through a major life transition such as divorce, Melanie’s experience and expertise could provide significant value and confidence at a time when it is much needed.

Melanie Colwell, CFP®, CDFA®
Owner/Principal