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Wealth is rarely managed in isolation. Relationship management involves ongoing communication with your financial advisor and coordination with other professionals, such as accountants, and estate attorneys. A strong advisory team ensures that all aspects of your financial life work cohesively—providing clarity, alignment, and peace of mind.

Example from Nik Gumeson, First Federal Bank Wealth Management Advisor:

About a year and a half ago, I started working with a couple who were newer to the area. The relationship started with managing their IRA’s but has evolved. One of the individuals started their own business in which their income is commission based. I was able to introduce them to a local CPA who assisted them in entity structuring as well as tax filing.

Since then, we have implemented a Solo(k) – which is a 401(k) type of retirement plan for eligible individual business owners. I now coordinate with their CPA quarterly to determine contribution amounts from the individual as well as the business.  

A little bit of leg work and the right introductions created a solid wealth management foundation for these customers.  

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