One client inherited significant wealth in his mid-fifties when his father died. Suddenly he had to start managing numerous accounts and advisors with no prior experience. He described how he had been instructed to appear at a lawyer’s office on his 18th birthday and sign new documents that kept the assets out of his control. He did not want his kids’ financial education to be deferred until his death, and he asked us to work with them. Incrementally, we gave the boys increasing levels of money, responsibility, and skills. Their father had the bravery and foresight to empower his children to manage their finances even though his own training had been non-existent.
Kayaking and financial planning? We have been exploring the Maine coast for years, so when it was time to name the business, some of our favorite places were natural choices. Ridley Cove is in Casco Bay, an area with a smattering of islands evoking places much farther up the coast. A kayak adventure is an appropriate metaphor for financial planning and investment management: a safe and successful trip takes some effort, and often the conditions turn challenging. Preparation is essential. Also, when we spend a day on the water, we come home with a renewed sense of clarity, purpose and commitment. Finally, we like the connotation of a cove as a safe place. We aspire to take some of the administrative burden off of your shoulders and give you the space to define what is important to you. Welcome to Ridley Cove.
We will establish a customized investment strategy for you that is designed to participate in gains and limit losses. We achieve this by building diversified portfolios and maintaining a disciplined approach. Our allocations begin with a thorough understanding of your current situation and future goals. We will work with you closely to identify how much risk you need to accept. We recognize the futility of trying to time our increasingly complex and interconnected markets, but we regularly assess threats and opportunities, and we pay attention to valuations. We will recommend investments that are understandable, liquid, and reasonably priced.
We can provide a one-time review of your financial situation and investments, or on-going financial advice and investment management. Tell us what you need.
We follow a comprehensive checklist to ensure that you are protected from the issues that threaten economic security. We will:
We will work closely with your existing accountants, estate attorneys, and insurance agents or recommend skilled and responsive advisors as needed.