Cash
Investment Guidance for Inherited Wealth
Inherited Wealth Management in Chicago
Receiving an inheritance can change your financial picture quickly, but that does not mean every decision needs to be made just as quickly.
Gold Coast Capital Management helps individuals and families in Chicago understand inherited investment assets, evaluate their existing financial position and develop a thoughtful strategy for managing wealth going forward.
Work directly with Dragan Mark Filipovic, CFA®, to determine how inherited assets fit within your goals, risk tolerance and long-term investment strategy.
01A Thoughtful Next Step
Financial Guidance After Receiving an Inheritance
An inheritance may arrive in many forms, including cash, investment accounts, individual securities or a combination of financial assets that were managed according to someone else's objectives. Once those assets become part of your financial life, they need to be evaluated in the context of your own goals and circumstances.
That can create important questions:
Gold Coast Capital Management works with Chicago individuals and families managing inherited wealth to bring those decisions into a coherent investment strategy. The first step is understanding what you received and what you want the wealth to accomplish.
Questions to Consider
01
Should inherited investments be kept or changed?
02
How much should remain in cash?
03
Is the inherited portfolio properly diversified?
04
Does it expose you to more risk than you are comfortable taking?
05
How should inherited assets fit with investments you already own?
06
Could selling investments create tax consequences?
07
Should your existing investment strategy change now that your financial circumstances have changed?
02Start With Clarity
Start by Understanding What You Inherited
Before making major investment changes, it can be useful to look at the complete picture. Inherited financial assets may include:
Brokerage accounts
Stocks
Bonds
Mutual funds
ETFs
Retirement assets
Concentrated investment positions
Accounts held at multiple financial institutions
An inherited portfolio may have made sense for the person who originally owned it, but that does not necessarily mean it is appropriate for you. Your time horizon, tolerance for investment risk, income and liquidity needs, tax circumstances and financial goals may be very different.
Our role is to help evaluate inherited investment assets within your financial picture rather than simply continuing a strategy designed for someone else.
03Our Process
How We Help With Inherited Wealth
01
Review the Inherited Portfolio
We begin by understanding the assets you have received and how they are currently invested.
A portfolio review may consider areas such as:
Current asset allocation
Investment diversification
Concentrated holdings
Overall investment risk
Account structure
Investment expenses
Unrealized gains and losses where relevant
How inherited investments relate to assets you already own
The goal is to understand where you stand before deciding what should happen next.
02
Define What the Wealth Needs to Accomplish
An inheritance does not come with a universal investment strategy. One person may want to incorporate the assets into a long-term retirement portfolio, while another may need greater liquidity or intend to keep the wealth invested for decades.
Before deciding how inherited assets should be managed, we consider factors such as:
What role should this wealth play in your financial future?
When might you need access to the money?
How much investment volatility are you comfortable and financially able to accept?
How does the inheritance change your overall financial position?
How much should remain readily accessible rather than invested for the long term?
These considerations provide the foundation for a personalized investment strategy.
03
Build a Coordinated Investment Strategy
Inherited wealth should not necessarily remain separate from the rest of your financial life. Once your circumstances are understood, we can evaluate how the new assets should fit alongside the investments you already own.
That may involve considering:
Overall asset allocation
Portfolio diversification
Investment risk
Concentrated positions
Liquidity
Investment costs
Tax awareness
Long-term portfolio objectives
The objective is to move from simply owning inherited assets to having an investment strategy for the wealth.
04Inherited Securities
What If You Inherit an Existing Investment Portfolio?
It is common to inherit investments rather than cash, which can make the decision-making process more complicated. You may own securities you did not select and may know very little about.
Some positions may fit comfortably within your broader strategy, while others may create unnecessary concentration or expose you to risks that are inconsistent with your circumstances.
A More Useful Question
The answer is not necessarily to sell everything immediately, nor is it necessarily to leave everything untouched. A more useful question is:
If you were building your portfolio today, would these investments belong in it?
Gold Coast Capital Management can help evaluate the inherited portfolio alongside your existing investments and determine whether changes may be appropriate.
05Tax Awareness
Be Thoughtful About Taxes When Changing an Inherited Portfolio
Investment changes can have tax implications, so before restructuring inherited investments, it is important to understand the assets and relevant tax considerations rather than making decisions based solely on recent performance or personal preference.
Gold Coast Capital Management takes a tax-aware approach to investment management and considers relevant tax factors when appropriate as part of the portfolio-management process.
Professional Scope
We do not provide individualized tax or legal advice, prepare tax returns or provide estate administration. When specialized tax or legal guidance is needed, clients should work with their CPA, attorney or other qualified professional.
Investment management
Relevant tax factors
CPA, attorney or other qualified professional
06Retirement Context
Inherited Wealth and Retirement
Receiving an inheritance can also change your retirement outlook.
An inheritance may affect:
For someone approaching or already in retirement, these changes may justify reviewing the broader investment strategy rather than simply adding inherited assets to an existing portfolio.
Gold Coast Capital Management works with retirees and pre-retirees to evaluate investment portfolios within the context of their retirement objectives.
The amount of assets available for retirement
Your expected investment horizon
Your overall portfolio allocation
Your ability to tolerate investment risk
Future liquidity needs
How existing and newly inherited investments work together
07Independent Perspective
Already Have a Financial Advisor?
Receiving an inheritance can be a natural time to get another perspective on your financial strategy. You may already have an advisor but want an independent professional to review:
The inherited portfolio
Your existing investments
Overall diversification
Investment risk
Advisory and investment costs
How the new assets change your financial position
You do not need to leave your current financial advisor simply to ask another one for an opinion. Gold Coast Capital Management offers a complimentary portfolio review for investors who want an independent perspective before making significant investment decisions.
Get a Financial & Portfolio Second Opinion08The Gold Coast Relationship
Why Work With Gold Coast Capital Management?
Direct Access to Dragan Mark Filipovic, CFA®
Every Gold Coast Capital Management client works directly with Dragan Mark Filipovic, CFA®, Founder and Chief Investment Officer, without a handoff to a junior advisor or rotating service team.
Personalized Investment Management
Your inheritance is considered within the context of your goals, existing assets, time horizon, risk tolerance and broader circumstances. The investment strategy is built around you rather than simply continuing the portfolio you inherited.
Independent Fiduciary Advice
Gold Coast Capital Management provides investment advice within a fiduciary relationship without proprietary investment products or sales quotas.
Transparent 0.50% Advisory Fee
Gold Coast Capital Management charges a straightforward 0.50% annual advisory fee for ongoing advisory services.
Independent Charles Schwab Custody
Client assets remain independently custodied at Charles Schwab and held in the client's name, while Gold Coast Capital Management manages the investment portfolio without taking custody of client assets.
09Questions & Answers
Frequently Asked Questions About Inherited Wealth
A significant inheritance can change your overall financial position and introduce investment decisions you have not previously needed to make.
An advisor can help you understand inherited investments, evaluate how those assets fit with what you already own and develop an investment strategy based on your own objectives.
There is no single answer that is appropriate for every investor. Before making significant changes, it can be useful to understand what you own, the portfolio's allocation and risk, your own financial goals and any relevant tax considerations.
Yes. Gold Coast Capital Management offers a complimentary portfolio review that can provide an independent perspective on inherited investments and your broader portfolio.
There is no obligation to transfer assets or become a client simply because you request a review.
Gold Coast Capital Management focuses on investment planning, portfolio management and related wealth-management services. The firm does not provide individualized legal or tax advice, and clients should work with qualified attorneys and tax professionals when those services are required.
Yes. Gold Coast Capital Management works with individuals and families throughout Chicago who are managing inherited investment assets, as well as clients nationwide where the firm is properly registered or exempt from registration.
Schedule a Consultation
Turn Inherited Assets Into a Long-Term Investment Strategy
An inheritance can create new possibilities, but you do not need to make every financial decision at once. Start by understanding what you own, how it fits with your existing financial picture and what you want the wealth to accomplish.
Speak directly with Dragan Mark Filipovic, CFA®, for an independent review of your inherited assets and investment portfolio.
Speak Directly With Your Advisor
(847) 899-7986
info@goldcoastcapm.com
Serving Chicago, IL and clients nationwide.
Gold Coast Capital Management, LLC is a registered investment adviser. Registration does not imply a certain level of skill or training. Advisory services are offered only to clients or prospective clients where Gold Coast Capital Management, LLC and its representatives are properly registered or exempt from registration. Nothing on this website should be construed as personalized investment, tax, or legal advice. Past performance does not guarantee future results.