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Optimize Your

True Wealth

Advisors planning

We define true wealth as the satisfaction and emotional fulfillment of knowing your assets are structured to support your personal values. Our planning process will help you optimize your true wealth with clarity, comfort and peace of mind. Your individual goals, needs and desires become our priority in the development of solutions. 

Financial Planning for individuals, small, and midsize business owners is the focus of what we do. When planning for individuals and families we follow a personalized seven step process. For business owner(s), we utilize a team approach to direct the planning process of structuring/mapping out the growth, transition, succession and/or exit strategy to obtain results for the owner(s), the owner(s)’ family, the business, and other stakeholders.

Today's business owner generally has the majority of their wealth trapped in their privately-held business, and is uncertain as to how to monetize this illiquid asset. The transition or sale of a closely-held business can be one of the largest financial and emotional transactions of their lives, requiring a high level of support and guidance for a successful result.


MISSION

Help clients optimize their true wealth and leave a stable lasting legacy.

VISION

Utilize our expertise, augmented with the right resources at the right time, providing guidance on your journey.

VALUES

We inspire trust by Serving First. We maintain fiduciary standards, offer personalized attention, and keep integrity and ethics topmost in our practice.

Services

Wealth Management & Financial Planning

We help enable individuals, families and business owners to articulate, identify and achieve their desired life goals in both the short and long term. Together, we will create and monitor your financial plan as outlined below. This unique approach incorporates much more than your money and encourages you to understand how we can help optimize your true wealth.

CLICK HERE FOR AN OVERVIEW OF
FINANCIAL PLANNING PROCESS:

Financial Planning
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FINANCIAL PLANNING

As a client-focused financial services leader, Individual Financial Services strives to provide the highest level of financial planning and wealth management services available. While developing a customized financial program, we will walk you through a step-by-step process that will help make you feel confident in your decisions.


YOUR GOALS AND OBJECTIVES

Clearly defining your long and short-term goals is essential and we’re here to help you define your financial goals such as planning for your retirement, buying a vacation home, saving for your children’s education, or making sure you’ll have enough for your child’s dream wedding. You talk and we’ll listen so that we understand your needs and concerns. Your portfolio should stand on a solid foundation taking into account your goals, timelines, and your tolerance for risk.

Advisors planning


Advisors planning

CUSTOMIZED FINANCIAL PLAN

Once your goals have been established, we will customize appropriate strategies to suit your vision and objectives. We are also able to help you execute a sound customized financial program utilizing a team approach and a breadth of product and services choices. We have access to local, regional and national support resources to provide the highest quality service possible.

There is much personal value in knowing that your loved ones won’t face an administrative nightmare when you’re gone.

It may take some time and careful planning but getting your estate plan in order can provide confidence you have taken care of your affairs.

Through our network of relationships, we can provide you access to investment management services, mutual funds, and financial products from an abundant list of investment and insurance companies.


Financial Planning Services We Provide Include:

Comprehensive Financial Planning

We take a snapshot of your current financial position and use sophisticated tools to build a custom strategy for you.

Risk Management

We strategize ways to reduce your risk exposure and help to protect you from unforeseen events.

Asset Protection

We work with you to protect what you already have and build a plan to grow your net worth.

Investment Management

We are committed to an objective fiduciary process and standards to help address your investment objectives.

Business Planning

We work to help business owners grow and transfer the equity value from the business balance sheet to your personal balance sheet.

Estate Planning

We work with estate planning attorneys to make sure your assets are protected, and are transferred to the people you want them to go to in a tax efficient manner, protecting your legacy.


people analyzing risks

Risk Management

Risk management is the process of identifying, analyzing, evaluating and controlling financial, legal, strategic and security risks to an individual’s or a business’s capital and earnings. You can choose to:

  • Accept Risk
  • Limit Risk
  • Manage Risk
  • Transfer Risk

LIFE INSURANCE

The major function of life insurance is to create capital and to solve problems through the use of that capital and the income it can produce. Once potential problems are identified, it is the task of the financial planner to pick a life insurance product that solves them. The appropriateness of life insurance to solve a specific problem involves three distinct analyses. First, we must consider what functions life insurance may serve. Second, we consider what factors affect the amount of insurance the client needs, the type of insurance the client needs, and the appropriateness of life insurance in solving the clients’ individual problems. Third, we consider the various types of life insurance products that may be used to solve a particular problem, and analyze each individual product for its suitability. Existing life insurance policies should go through a policy review and be analyzed for their original purpose and cost effectiveness.

Click Here To Schedule A Call

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older person with medical professional

LONG TERM CARE

Long-term Care, or “extended care” is the type of assistance a person needs as a result of a long-term impairment. Sometimes we refer to this as extended care, not long-term care, because the term “long-term care” can carry many misconceptions and negative assumptions. The need for extended care begins with an impairment. When we become mentally or physically compromised, we need extended care. There are two types of impairments: Acute and Chronic. Extended care is not a place or a condition. It is a life-changing event.

Click Here To Schedule A Call

DISABILITY INCOME INSURANCE

Disability income insurance is designed to protect your most valuable asset, your earned income. A disability can be due to injury or illness. Disability is triggered if you can’t perform the substantial and material duties of your regular occupation even if you are engaged in another job or occupation for wage or profit. How would a disability and the loss of your earned income impact your lifestyle? You may have employer provided benefits that address this risk.

Click Here To Schedule A Call

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ANNUITY(S)

What is an annuity?

  • An annuity can provide an income stream that is guaranteed for life.
  • An annuity can provide for income deferral.
  • A regular annuity can moderate investment risk.
  • An annuity provides tax-deferred accumulation of interest.

You may hate annuities; but you may love what they can do.

A review of any existing annuities, and the original purpose of the annuity, may be beneficial to your financial plan.

Click Here To Schedule A Call

TAX PLANNING

No financial plan is complete without attention to tax planning. Our team can educate and guide you on Roth conversion, IRA’s, Capital Gain harvesting, Health Savings Accounts, distribution planning, and changes in residence.

Tax planning involves giving general information on settled tax law as well as projecting the impact of potential strategies on your financial plan.

Tax Planning ≠ Tax Advice. We can work with your accountant to include tax planning parameters in decision making.

Click Here To Schedule A Call

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SOCIAL SECURITY PLANNING

  • Understand the role Social Security plays in your overall retirement income and the importance of getting the most out of your benefit.
  • Understand the complexities of the Social Security system and why it’s crucial to make the right claiming decisions. We can illustrate the monetary consequences and benefits of claiming early versus delaying.
  • Know the key spousal decision and benefits surrounding marriage, divorce, and death.
  • Learn how Social Security is structured to help combat inflation but can potentially add to your liabilities in retirement.

Click Here To Schedule A Call

MEDICARE

The costs of health care in retirement come as a surprise to many retirees. Retirees need to be aware of IRMAA (Income-Related Monthly Adjusted Amounts) and navigating IRMAA to avoid paying higher Medicare premiums in the first two years in retirement. Our team can help guide you to the best choices in Medicare and supplemental health insurance that fit your circumstances and overall financial plan.

Click Here To Schedule A Call

older person with medical professional

Investment Planning

Your investments should provide you with the best probability to meet your financial goals. Our investment approach is designed to offer highly diversified, tax efficient, and low-cost portfolio management. What is your Risk Number? Does your portfolio fit you? Is your portfolio aligned with your risk number?

Click Here to view a short video to understand the Risk Analysis process.

We believe you should be a part of the investing process and not an outside observer to the management of your portfolio. With our transparent investing strategies, you will have an Investment Policy Statement; with our ongoing reporting, you will be aware of where you are and monitor the progress towards your goals. We align a client’s Risk Number with their portfolio to meet their goals. Click on the link to get your Risk Number.

Free Portfolio Risk Analysis

Older couple looking at their investments


Click Here To Schedule A Call

Retirement Planning

We help people answer four questions that everyone will ask at some point in their life.

  • When can I retire?
  • Can I live the life I want to in retirement?
  • Am I prepared for a 30-year vacation?
  • I’ve been accumulating assets for years…now what?

Millions of Americans are at or nearing retirement, and face the daunting task of securing an income stream that lasts an entire lifetime.

Income Distribution Planning is a separate and distinct specialty within the financial planning profession. We carefully design and customize your retirement portfolio by using an intricate mix of financial products and tools to provide growth, tax efficient income, and liquidity for unexpected expenses.


People enjoying retirement


Employer Sponsored Retirement Plans

Customized Design & Services

We’re able to further assist you in building a successful retirement for you and your employees. Retirement Plans may include: 401(k) Plans, Roth 401(k), 403(b), Profit Sharing, Defined Benefit, Cash balance, Non-Qualified Deferred Compensation Plans. Individual Financial Services, LLC recognizes the fiduciary responsibilities of the plan sponsors acting as a fiduciary for institutional assets.

Retirement readiness for you, your employees/plan participants include protection for the plan sponsor and plan fiduciaries from claims associated with the plan’s investments. Our process will be to evaluate the effectiveness of investment committees, investment advisors, and the prudence of plan investments to IRS and DOL rules and trust laws.

As a CFP®, Certified Financial Planner ProfessionalTM and AIF®, Accredited Investment Fiduciary, we are held to, and operate our practice under the fiduciary standard, which means that we are required to place your interests above all else.

FIDUCUARY:

Someone who is managing the assets of another person and stands in a special relationship of trust, confidence, and/or legal responsibility.

A plan fiduciary has a responsibility and duty to the participants in the plan for the selection and monitoring of plan investment. We can help manage and improve your retirement plan offerings. We partner with other experts in the field who know ERISA, DOL, & IRS regulations inside and out.

  1. ERISA
  2. Fee & plan cost disclosure
  3. Investment Monitoring

ERISA:

The responsibility of providing a retirement plan to employees can be overwhelming. ERISA laws are complicated and place liability on the plan’s sponsors’ shoulders. Fiduciary decisions must always be in the best interest of plan participants.

FEE & PLAN COST DISCLOSURE:

With our team on your side, you can count on lower fees and lower risk for both you and your participants. Our commitment to fee transparency, and dedicated single point of contact generate value for employers and their employees.

INVESTMENT MONITORING:

Given the increase in retirement plan litigation and Labor Department investigations, business owners and other plan fiduciaries can have an independent assessment that checks (a) the prudence of the investments, (b) The quality of the investment provider, (c) any potential liability if they fail to act in removing underperforming funds.


Our comprehensive approach establishes and maintains a compliance process ensuring that employees’ best interests are paramount and allows the employer to remain focused on day-to-day business activities.

If you have unengaged 401(k) participants, generic enrollment materials and a plan web portal that nobody uses, then it’s time to take control of participant education.  Our individual Retirement Analysis can quickly create personalized retirement projections for each 401(k) participant. Before our meeting is done, your participants will know if they are on track for retirement and, if they’re not, exactly what they need to contribute to get on track. Does your participants investment risk tolerance align with how they are invested? We don’t let the participants wonder if their risk preference will allow them to achieve their goals, we calculate their probability and build a road map to success and illustrate the bigger picture.


Fees

Do you know the all-in fees associated with your 401k Plan?

Fiduciary

Do you know if you are meeting the Fiduciary Responsibilities under the law?


Fund Selection

Are you confident your Funds are performing and your 401k is using the proper share class available to you?

Pitfalls for Plan Sponsors

Given the increase in retirement plan litigation and Labor Department investigations, business owners and other plan fiduciaries now have an independent assessment tool that checks:

  • The prudence of their investments
  • The quality of their investment provider
  • Any potential liability if they fail to act in removing underperforming funds


Click Here To Schedule A Call

Exit Planning & Succession Planning for Business Owners

People working on the computer

As a business owner, you’re going to have to decide when will be the right time to step out of the business and how you’ll do it. There are many strategic planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the business or keep it until you die. As a business owner who is thinking about a future transition, would you like to know your ‘readiness’ to have a successful transfer?

Many business owners have the majority of their wealth trapped inside their privately-held business, and they are uncertain as to how to monetize this illiquid asset. The transition or sale of their business is one of the largest financial and emotional transactions of their lives, requiring a high level of support and guidance for a successful result.

Where do you see yourself today? Are you mentally ready and financially ready to exit your business? We begin the process with a comprehensive financial plan to help guide you to determine the end goal that best aligns your needs and interests. Is there a value gap? We can help you get there, from the first step to final signature.

How we work with Business Owners: CLICK HERE
Business Owner
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Business Succession Planning must include ways not only to ensure the continuity of your business, but also to do so with the smallest possible tax consequences. We consult with tax professionals as well as estate planning attorneys to explore all possible solutions and strategies.

Business Succession Planning: CLICK HERE
Business Planning
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How much of your business and operations is dependent on you personally being there? Click on the survey link below to take our 20-question survey.

ODI – Owner Driven Index

father and son working together

In a Family Business you address:

  • Best of circumstances?
  • Worst of circumstances?
  • Deconstructing conflict.

You may be financially ready to retire but choose to stay. The GPI survey may help to determine how you can continue to grow your business. Click on the survey link below to take our 20-question survey.

GPI – Growth Index

Business Valuation

Knowing the true value of your business is critical to proper business planning and achieving personal goals. Through our valuation process, we can help answer the questions that will lead you to make informed decisions for your future.



Family Business Venn Diagram

Family Business Ownership

The intersection of very different, yet highly interrelated dynamics need to be addressed.

Conflict is an inevitable part of business and life. When they intersect, as they do in family businesses, it is essential to anticipate and deal with problems, so that family relationships can thrive and the business succeed. Conflict is a key reason why family businesses fail to succeed to the next generation. When properly managed, however, conflict can actually strengthen the family and ensure that both the family and business remain healthy.

  • What is fair is not equal and what is equal is not fair
  • People not employed in the business, including family, should not be “voting” shareholders
  • Parents are not capable of objectively evaluating the competence of their children

Click on the survey link below to take our 20-question survey:

Business Exit Readiness Index: BERI Report is customized for you
based on the responses to a survey.

Business Exit Readiness Index

Click Here To Schedule A Call

Alliances

eMoney Advisors
Riskalyze
Financial Planning Association New Jersey


CFP Board
Certified Business Exit Consultant Badge
Tax Planning Powered By Holistiplan


Network of Expertise

At Individual Financial Services, we liaison with your attorneys and accountants as valued and trusted contributors to your planning team.


A TEAM Approach:


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Accountants

Our extensive experience has enabled us to build relationships with accounting professionals who specialize in areas of business that add value to the planning process.

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Attorneys

Our extensive experience working with attorneys has allowed us to consult with those who specialize in areas of business, estate, and trust planning, as well as Special Needs planning.

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Business Consultants

Our extensive experience working with Business Consultants has enhanced our planning in business development, marketing, and growth with small, medium and family-owned businesses.

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TPA's - Third Party Administrators

Our extensive experience working with TPA, third party administrators, has allowed us to put our clients in the best position to manage complex and highly regulated retirement plans.

About Us

John J Crosby Photo

John J Crosby

CFP®, AIF®, ChFC®, CLTC®, CRPC®, CBEC®

Email: JCrosby@Individual-Financial-Services.com

           JCrosby@AICinvest.com – Securities & Investments


John J. Crosby, CFP®, AIF®, ChFC®, CLTC®, CRPC®, CBEC® is a CERTIFIED FINANCIAL PLANNERTM Professional, Accredited Investment Fiduciary, Chartered Financial Consultant, and holds a Certification in Long Term Care, Chartered Retirement Planning Counselor and Certified Business Exit Consultant. John was also certified as an Annuity Specialist in 2006 by the Institute of Business and Finance. Since entering the financial services industry in 1983, John has earned significant recognition and accolades over his many years in practice.

John’s focus is to optimize true wealth, including family wealth transfer, business exit and legacy planning, retirement income distribution and estate planning. He has built a clientele comprised of individuals and business owners by developing strategic financial plans that help clients reach their goals.

John was the Director of Financial Planning for Commerce Capital Markets, located in NY, NJ, PA & FL. Prior to joining Commerce he was a Senior Financial Planner for Citibank, Private Bank – Law Firm Group for NY and Washington, DC. John served as a consultant for several insurance companies on product development, education and training in the areas of retirement income and distribution planning.

He is a past member of the Board of Directors for the American Heart Association NJ. He served as chairman of the Planned Giving and Major Gifts Committee for the AHA NJ affiliate and has spoken on the tax advantages of Charitable Giving. John has written articles for the American Heart Association that were published in their national newsletter.

A former resident of Middletown NJ, now residing in Cape May Court House, NJ, John is a member of the Financial Planning Association and served as an active volunteer for the FPA Pro Bono committee. John contributed financial literacy workshops for numerous groups, including veterans, the recently incarcerated, and multicultural communities in Central NJ. John has lectured on financial fraud, especially regarding senior citizens. He was the Director of Advocacy / Government Relations for the FPA NJ, and worked with the NJ legislature to advise on proposed legislation for protection of seniors and the vulnerable from financial exploitation. John also served nationally on a Legislative & Regulatory Issues Committee for FPA National.

John is a graduate of Rider University with a Bachelors of Science degree in Commerce and minor in Business Law. John is a member of the Financial Planning Association of New Jersey, The Estate and Financial Planning Council of Central New Jersey, and served as past President of Society of Financial Services Professionals, Monmouth-Ocean Chapter.

John holds FINRA Series 7, 24, 63 & 65 and is licensed in life, health and disability insurance.

  • Recipient of the New Jersey Heart of Financial Planning Award – NJ Chapter of the FPA
  • Recipient of the National Heart of Financial Planning Award – Financial Planning Association
  • Recipient of the Lifetime Achievement Award – Financial Planning Association

For additional information on the awards listed above visit the following: Disclosure & Criteria for FPA Awards

Individual Financial Services, LLC
15 South Main Street – Suite 4
Cape May Court House, NJ 08210
Office – 732-706-0912 • Fax 732-957-9404

John J. Crosby offers products and services using the following name: Individual Financial Services, LLC – insurance and financial services | Ameritas Investment Company, LLC (AIC), member FINRA/SIPC – securities and investments | Ameritas Advisory Services (AAS) – investment advisory services. AIC and AAS are not affiliated with Individual Financial Services, LLC.

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