What We Do
Let's Look Forward...Together
Since its founding in 1901, Baystate Financial has provided comprehensive financial services, life and disability insurance, estate planning, business succession planning, retirement funding, education funding strategies, and investment management to a diverse client base.
More than a century of providing guidance, insight, and results has made Baystate Financial one of the oldest and largest wealth management and financial services firms in New England.
Life Sciences Executive
Later to earning years and earlier to retirement, executives in the life sciences face unique financial challenges and opportunities that we assist with.
Pre-Retirees
Looking toward your next chapter, it’s common to feel both excitement and uncertainty. Can you afford to retire? What income will you have? We work with you help you find the answers and develop a plan for your long-term goals.
Business Owner
You wear many hats - we help you balance your personal and professional goals, whatever they may be.
Firefighters
Your job is to save lives - ours is to make sure you're saving, investing, protecting your families, and making the most of your years of service.
Physicians
From managing student debt and navigating delayed income to planning for retirement, we help physicians navigate a complex financial landscape.
Step 1
Initial Meeting to Discover Your Goals and Needs
Through an initial complimentary consultation, we work together to determine if we might be a good fit for a financial planning relationship. We give you an overview of our process and capabilities, answering any questions you may have. We spend most of our time seeking to understand your general financial goals, needs and questions. In a nutshell, we want to know where you're at, how you got there, and where you'd like to go.
The scope of our collaborative work may be a comprehensive or focused financial plan, or we may work specifically in the area of investment or risk management strategies; it may involve individual, a couple, family, multi-generational or business planning. If we mutually agree on the scope of a financial planning relationship, we move to the next step in the process.
Step 2
Gather Information to Understand Your Present Situation and Goals
At this point, we'll seek to obtain as much quantitative and qualitative information as necessary. We'll need to gather various statements and documents. More importantly, we'll specifically identify your financial goals in the areas of education planning, retirement planning, estate planning or other requested areas. Understanding your time frame for various goals and your attitudes toward risk are crucial to developing strategies tailored to your needs, priorities and preferences.
Step 3
Analyze and Evaluate Your Information
We use state-of-the-art technology and a variety of analytical tools to evaluate your financial picture. We perform an asset allocation analysis of your investment portfolios with a review of the various holdings and full review of your various policies. We identify the strengths and weaknesses of your financial situation, and where you stand with respect to your financial goals given your current course of action.
Step 4
Developing Your Personalized Strategy
Based on our analysis, we develop recommendations in the context of the proposed strategy. In addition, we provide alternative scenarios along with solutions to assist you in reaching your financial goals. We will collaborate with you to confirm planning assumptions and get a sense of your thoughts about various strategies along the way.
Step 5
Implementing Your Financial Solutions and Strategies*
We work with you to determine how to best implement each aspect of your financial plan. This may involve collaboration with other financial professionals you currently engage (i.e. CPA, attorney etc.) or recommending appropriate financial professionals to assist you if needed. As a comprehensive financial services firm, we have the ability to use a wide array of providers and solutions to implement your investment, risk management as well as estate and business planning strategies.
*Please note that you can implement your financial plan at the financial institution of your choice.
Step 6
Monitoring Your Financial Plan On an Ongoing Basis
We will continue to monitor the appropriateness of your financial plan and your progress over time, in accordance with the scope of our relationship. We will make appropriate modifications as changes occur in your personal and/or business life or in the market overall. We will always continue to educate you as new strategies and solutions may become available over time.