A Dedicated Wealth Management Team Working For You
Shore Morgan Young Wealth Strategies, a talented wealth management firm, can help guide you towards reaching your goals. We believe that it is our responsibility to help you make the most of your income and assets, and also to help you make the most of your life. It's our plan for your future.
Our overriding wealth management philosophy is to help prosperous individuals and business owners build, preserve and enjoy the work of a lifetime.
Our philosophy was conceived over 40 years ago, at our inception in 1974, and still drives our business today. Conviction in what we do, the courage to get our clients to take action, competency based on continuing education and training, and communication that builds understanding and trust - these are the key qualities of our philosophy. These are the commitments we make to you when you choose to retain us as your wealth management firm.
With Shore Morgan Young Wealth Strategies, we believe our clients receive the best of two worlds: the experience and vast resources of a long-standing financial institution, and the individual service that comes from having a personal wealth manager.
Who We Are
For more than 40 years, Shore Morgan Young Wealth Strategies has helped families preserve and enjoy their success with proactive and personalized wealth management within an ever-changing financial landscape.
Lew Shore, Chief Executive Officer, began in the insurance and investment business by emphasizing to his clients the importance of setting goals, and paying themselves first. Today, he still teaches this philosophy, but on a much more sophisticated level, serving clients in Ohio and across the country. This expansion began as client families relocated and introduced other highly successful families to the firm.
With this growth, it became apparent that busy executives needed efficiencies to allow them to spend more time enjoying their success. Lew, and his business partners, Jon Morgan and Marya Young, understand that most successful people are surrounded by professional advisors, all of whom may do a good job in their own areas, but rarely coordinate their activities. Not only does this result in none of them “being on the same page”, but it is also time consuming. This is one of the key elements that differentiate Shore Morgan Young from other wealth management firms.
What We Do
Utilizing a team concept, Jon, Lew, and Marya have drawn together professionals under one roof with knowledge in financial planning, taxes, estate planning, as well as investments and insurance. The philosophy is similar to that of a football team, where you have a head coach, assistant coaches, an offensive coordinator, and a defensive coordinator--all with expertise in their own areas. At Shore Morgan Young, Lew, Jon, and Marya serve as the head coaches, and coordinate the rest of the team to the greatest benefit of each individual client, whether they live in our Ohio home state or elsewhere in the nation.
How We Work
The first step is to gather the necessary data to ensure a thorough understanding of your situation. This becomes the basis for the creation of a financial model, which is used to evaluate your current financial situation. It will show your current asset allocation, your net worth, the direction and rate of its change, your cash flow, income and estate tax liability and other items. Also, your wealth manager will review your wills, trusts, life and disability insurance, and any other legal arrangements you have created.
The second step in the wealth management process for this Ohio firm. Step two is to develop your personal financial objectives. Frequently, our clients say "I want to make sure that I have a source of income that I cannot outlive, and secondarily, I want to leave a legacy for my family and perhaps the community". But often this complex process involves thinking about wealth management in a way that you have never addressed. We assist you in this process by prompting you to answer questions that you may not have previously considered.
The third step in the wealth management process for this Ohio firm. Step three consists of identifying problems in your current plan. This is basically a process of reconciling the likely outcome based upon your current arrangements, with your desired outcome as described in your objectives. It is in this third step that the full benefit of the planning process becomes apparent. Issues that you have never taken into account and shortfalls that you never realized will be identified by your wealth manager.
The fourth step in the wealth management process for this Ohio firm. Step four entails the development of recommendations in the form of specific wealth management strategies for implementation. The provided economic model will help you to determine the impact of these strategies so that you will be in the best position to determine which is right for you. Many strategies you will elect to implement, some now, some in the future, others you will reject but the decision will be yours. The agreed upon strategies will be reduced to writing in a comprehensive report.
The fifth step in the wealth management process for this Ohio firm. The fifth step is implementation, where your wealth manager will be most instrumental. You will have a specific written course of action. During this step, all of your advisors including your attorney and CPA can work from the same plan toward a common, concise goal.
The sixth step in the wealth management process for this Ohio firm. Step six is the ongoing review process. At least annually, an update of your plan should be done to encompass any changes to your personal situation, economic conditions or tax law. This process ensures a continuously current private wealth management plan.
For Whom We Do It
Our clients are successful business owners, highly compensated executives or retired individuals that have substantial income and net worth. They are individuals who understand and appreciate the value of an integrated approach to their wealth management. Whether they live in Ohio or elsewhere in the nation, client families find our firm to be accessible, thorough and focused on delivering quality service as their private wealth manager.