The following scenarios are hypothetical composites drawn from common client situations. They illustrate our approach — not guaranteed results.
Married physicians, mid-40s, combined income $850,000, $2.4 million portfolio held at a national wirehouse brokerage.
Paying 1.15% advisory fees plus 0.65% in underlying fund expenses plus $3,200 per year in trading costs. No tax-loss harvesting. No integrated financial plan. The couple spoke to a rotating "team" — never the same person twice.
Consolidated to a single tax-efficient portfolio built around low-cost index and institutional share-class funds. Implemented systematic tax-loss harvesting across all taxable accounts. Built a comprehensive financial plan covering retirement projections, education funding for three children, a disability insurance gap analysis, and updated estate documents.
Reduced all-in investment costs by 62%.
"Within the first year, the restructured portfolio captured $47,000 in tax-loss harvesting opportunities that had been missed. The annual fee savings alone exceeded $18,000. But the physicians reported that the most valuable change was knowing exactly who to call — and that person knowing their name."
Software founder, early 50s, sold his company for $12 million in after-tax proceeds. First time with significant liquid wealth.
Three banks competing for the account, each proposing proprietary products and structured notes. No one had asked about his goals beyond "growth." A significant portion of net worth remained concentrated in a single stock during the transition period.
Designed a 90-day structured unwinding of the concentrated position using tax-aware lot selection to minimize capital gains impact. Built a diversified portfolio anchored to a written financial plan with explicit goals, risk tolerances, and withdrawal assumptions.
Coordinated with estate attorney on trust structure, a gifting strategy for adult children, and generation-skipping provisions to preserve wealth across three generations.
"The disciplined unwinding saved an estimated $340,000 in capital gains taxes versus the 'sell everything Monday' approach one bank recommended. Two years later, the founder's portfolio had weathered a 20% market drawdown with a maximum decline of 11% — because the plan was built for it."
Dual-income couple — a finance executive and an attorney — late 50s, $4.8 million portfolio, relocating from Manhattan to Fort Lauderdale.
Still paying New York state income tax despite spending most of the year in Florida. Prior advisor had never flagged the domicile documentation requirements. No homestead protection filed on the new primary residence.
Conducted a comprehensive residency audit and assembled the documentation required to establish Florida domicile. Filed homestead exemption on the primary residence. Restructured portfolio for Florida-favorable tax treatment and coordinated with the couple's CPA and estate attorney on updated trusts reflecting the new state of residence.
"Annual state income tax elimination: approximately $67,000. Homestead protection on their new primary residence: unlimited under Florida law. The couple's prior advisor had never raised the issue. The total planning value in year one exceeded the advisory fee by a factor of four."
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Begin ConversationImportant Notice. These scenarios are hypothetical composites for illustrative purposes only. They do not represent any specific client or guarantee of results. Individual outcomes vary based on market conditions, timing, and personal circumstances. Past performance and hypothetical illustrations are not indicative of future results. All investment strategies carry the potential for profit or loss.
Important Disclosures. Wolfson Private Wealth, LLC ("WPW") is an investment advisor registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. All investment strategies have the potential for profit or loss. Past performance is not indicative of future results. Diversification does not guarantee a profit or protect against loss.
Information presented on this website is for educational and informational purposes only, does not constitute investment, tax, legal, or accounting advice, and should not be construed as a solicitation, offer, or recommendation to buy or sell any security. Any client scenarios described are hypothetical composites for illustrative purposes only and do not represent any specific client, actual performance, or guarantee of results.
WPW does not offer tax or legal advice. Clients should consult qualified tax and legal professionals regarding their individual circumstances. Assets are custodied at Interactive Brokers LLC, a qualified custodian. WPW is not affiliated with Interactive Brokers LLC. The presence of a link to a third-party website does not imply endorsement.
Florida tax and asset protection commentary represents general information as of the publication date and is subject to change by legislative or regulatory action. WPW encourages all readers to obtain situation-specific counsel. Our complete disclosure brochure (Form ADV Part 2A) and Form CRS are available upon request and on the SEC's Investment Adviser Public Disclosure website.