Somerset Wealth Strategies


We help clients manage, mitigate, and transfer risk, not assume or increase it.

Scroll down the page or click the links below to read more about all our services. Click here when you're ready to get started on your financial plan.

Our Services

Retirement Planning

Manage the Risk of Outliving Your Assets

One of the greatest risks facing investors today isn't dying too soon — it's living too long. Baby boomers are enjoying the best health and the longest life expectancy of any generation in history, and you need your income to last as long as you do. With health care costs rising at more than twice the rate of inflation, you need to know that you can have access to the best medical care possible without risking the financial health of your spouse and your heirs.

Income Solutions: You can build tax-deferred funds for retirement and then, for the rest of your life or a specified period, receive an income stream backed by the creditworthiness and claims-paying ability of an insurance company.

Estate Planning: Life insurance can help your heirs pay any immediate expenses, such as estate taxes, and cover future needs. At Somerset Wealth Strategies, we will perform a comprehensive assessment to determine how much insurance your family will need after you are gone.

Long-Term Care Insurance: Health care costs could easily erode your entire life's savings. We can help you evaluate your finances to determine whether you are a good candidate for long-term care coverage.

Investment Management

We Simplify Your Financial Life

First and foremost, Somerset offers investment advice: We make recommendations and manage your portfolio on an ongoing basis. But wealth management doesn't stop there. So we offer you expert advice on related concerns, such as protecting your loved ones with insurance, charitable giving techniques, and estate planning.

In addition to bringing our own expertise to bear on different aspects of wealth management, Somerset has professional relationships with a network of specialists outside our firm—attorneys who can draft documents, CPAs who can assist with tax matters. This network allows us to provide advice as in-depth as you require. So we can be a single source of advice for all of your financial concerns.

Somerset's comprehensive range of services seeks to eliminate the problems that can occur when you must manage multiple advisors. We make wealth management simpler for you.

Insurance Protection

Advice You Can Trust

We work exclusively with top-rated insurance companies. But we are not captive to any one insurer and are free to find the right coverage at the right price to meet your needs. We work closely with you every step of the way, making sure that you understand exactly what you are buying and that you are comfortable with your decisions.

We will meet with you in your home or in our office. And once we have a plan in place, we will meet with you regularly to make sure your long-term strategy continues to fit your current needs. We work with your accountant and estate planning attorney to ensure all of your financial goals are covered.


Insurances Versus Assurances

An annuity is a contract between you and an issuer whereby you agree to give the issuer principal and in return the issuer guarantees you fixed or variable payments over time. While annuities are not insurance policies, they are issued by insurance companies. An annuity is similar to a retirement plan in that you can fund it in a lump sum or a little at a time, and all capital in an annuity grows and compounds tax-deferred until you begin making withdrawals. Annuities offer insurances and guarantees to help mitigate your risk.

*Fixed annuities are long-term investment vehicles designed for retirement purposes. Guarantees are based on the claims-paying ability of the issuing company. Withdrawals prior to age 591/2 may be subject to a 10% federal tax penalty on the gains. Earnings are taxed as ordinary income upon withdrawal.

Estate Planning

Reduce Taxes & Risk & Maximize Your Inheritance

It is critical for business owners and high net worth individuals to address Estate, Business, and Tax Planning, and Asset Protection in order to manage what has been built. Preserving wealth is as essential as creating it.

Estate Planning is about staying in control of your wealth by establishing a clear plan for its preservation across generations.

In nearly every case where the planning is started early enough, clients, heirs and their estate are in better financial position than if no planning was done. Estate Planning is a process. With a few strokes of a pen and through the use of properly structured techniques, taxation can have little impact on the net estate passed on to one’s heirs. Starting early also provides the greatest latitude for flexibility. Remember, people change, things change.

As financial planners, the most common mistake we see is an inadequate or incomplete estate plan.

Customizing a Tailor-Made Plan for You

At Somerset Wealth Services, it all starts with three questions.

  • Who are you?
  • What do you care about?
  • What do you want to accomplish?

Mapping out how much to pass on and when can only happen after those questions are addressed. As a team, we work closely with your other advisors (e.g. attorneys & accountant) to create a custom plan centered around your goals versus a cut and paste version of someone else’s plan. Looking at the whole picture and addressing the overall plan in opposition to focusing on each singular issue is critical to making the plan work for you.

Taking it to the next level

A sound estate plan is fundamental to any well designed financial plan. Many business owners and high net worth individuals already have will, trusts, and other estate planning documents in place. Somerset Wealth Services can review these documents to ensure the documents accurately and effectively reflect your goals.

Once we know we where you are, what you care about and what is important to you, we can start to develop a plan that fits your goals and objectives with respect to the following topics:

  • Minimizing Federal and State Estate Taxes
  • Business Succession Planning
  • Income Tax Planning
  • Charitable Planning
  • Asset Protection Planning

Somerset Wealth Services does NOT operate in the gray. Any business or individual tax reduction techniques used are done with a clear cut understanding and in accordance of the IRS Tax laws.

Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investments mentioned may not be suitable for all investors. You should discuss any tax or legal matters with the appropriate professional. Please consult a Financial Advisor before implementing any Investment strategy.