business & professional

Create a financial plan to
pursue the future you envision

New Center Gems from page 14

Provided By:

The Lott Sheth Farber Hesano Group

UBS Financial Services

T

rying to accomplish your wealth management
goals without a current financial plan is like
trying to navigate without a map: you may
arrive late or even miss your destination.
By providing an integrated view of your
personal and financial goals—not just your investment
portfolio— a plan can help you see where you are today,
and provide ideas on how to pursue the future you envision.
Because personal and financial goals evolve, your existing
financial plan may need to be updated to reflect those
changes. Please consider the following financial strategies
information, which we can discuss further.

ANALYZE YOUR NET WORTH
Once we tally your current assets and liabilities, we can
better assess the likelihood of meeting your financial
goals. This is also the first step in ensuring our approach
is thorough and organized. For example, we may identify
assets that could be consolidated, such as "orphaned"
401(k) accounts at former employers or assets that you
may not own yet, such as unvested equity compensation
and deferred compensation. It's important to note how your
assets are held, whether in your name alone, jointly (with a
spouse/partner, child, etc.) or even in a trust. We can also
evaluate opportunities to repay or restructure your liabilities
and set up a plan for managing that side of your balance
sheet.

QUANTIFY YOUR COST OF LIVING
When planning for your future, it's important to know
whether or not you're saving and investing appropriately
toward your retirement lifestyle goals—and also for the
possibility of unforeseen events. If you keep a budget of
your current expenses, we can begin by reviewing what
goes out on a regular basis. We will look at other planned
expenses and then begin to consider what your future
costs might include, such as healthcare for yourself or
eldercare for an aging parent. If you aren't sure of your
current budget, don't worry; we can help you determine a
thoughtful estimate.

ESTABLISH OR BOLSTER AN EMERGENCY FUND
Your emergency fund should cover at least six months worth
of necessary expenses. Keep the fund in safe, liquid form,
such as assets in a bank account, money market account or
short-term certificates of deposit.

REVIEW YOUR ASSET ALLOCATION
With your goals in mind and a thorough picture of your
assets and liabilities, we can design or update your
investment strategy, one that allocates assets across
various asset classes and takes advantage of opportunities
in the market at a given time. And as your needs change or
the market moves, we can adjust your investment approach
accordingly.

PROTECT YOUR ASSETS
We've noticed that many clients neglect to adjust insurance
coverage as their lives change:

• If you've recently completed home improvements or
renovations, update your homeowners' insurance policy to
reflect your home's increased value. If you've added a pool,
hired household staff or your children have started to drive,
check that you have adequate umbrella coverage to protect
against possible litigation in case of accidents.

• If you've had a child or experienced an increase in salary or
compensation, check the level of income replacement on
your life insurance and disability policies. One rule of thumb
suggests you should plan to replace five to seven times (or
even 10 times) your annual salary, but much depends on your
lifestyle, family size and income.

• Long-term disability insurance is also important if you're
relatively young. You could experience severe hardship if
you cannot work due to illness or an accident. We can do an
insurance review together to make sure your current coverage
meets today's needs.

• If you're over 50 years old, consider buying long-term care
insurance now while you're healthy, as these policies can
become more expensive once you retire. We can also explore
policies that include inflation protection to account for rising
healthcare costs in the future.

UPDATE IMPORTANT DOCUMENTS
If anything significant has changed in your life—such as a new
child or grandchild, marriage or divorce (yourself or your children)
or receipt of an inheritance—be sure to update your personal
documents, such as your will or trusts, living wills or powers
of attorney for property or healthcare. It's also wise to regularly
review beneficiary designations on retirement accounts and
insurance policies. We can work with you and your attorney to
update these documents.

Remember, with a solid plan in place, it's easier to feel more
confident about your future. We'd be happy to work with you to
develop a financial plan that helps ensure you achieve your goals.

UBS

UBS Financial Services
325 North Old Woodward, Avenue, Suite 200
Birmingham, Michigan 48009
Work: +1.248.645.7897 Mobile +1.248.755.4302
Fax +1.855.792.5111 Toll free 888-262-4803
http://financialservicesinc.ubs.com/tearn/lsfgroup

This article has been written and provided by UBS Financial Services Inc. for use by its Financial Advisors.

We offer both investment advisory and brokerage services, each of which is separate and distinct, differs in material ways, and is governed by different laws and separate contracts. In providing a financial plan, we may act as a
broker-dealer or investment adviser, depending on whether we charge a fee for the service. Financial plans provided free of charge are a service incidental to our brokerage relationship and the service terminates upon delivery of
the plan. We provide financial planning services as an investment adviser for a separate fee pursuant to a written agreement, which details the terms, conditions, fee and scope of the engagement. For information about our fee-
based financial planning services, see the Firm's Financial Planning ADV Disclosure Brochure. Note that financial planning does not alter or modify in any way the nature of a client's UBS accounts, their rights and our obligations
relating to these accounts or the terms and conditions of any UBS account agreement in effect during or after the financial planning service. Clients are not required to establish accounts, purchase products or otherwise transact
business with us to implement any of the suggestions made in the financial plan. Should a client decide to implement their financial plan with us, we will act as either a broker-dealer or an investment adviser, depending on the
service selected. For more information please visit ubs.com/workingwithus.

UBS Financial Services Inc., its affiliates, and its employees are not in the business of providing tax or legal advice. Clients should seek advice based on their particular circumstances from an independent tax advisor.

CUBS 2014. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. D-UBS-CF3C8B12 120711-3810 aby-FP

1986720

lead for the recent Detroit-based invest-
ment.
Adam Feldman, a 24-year-old recent
graduate of the University of Michigan,
has been at HFZ for a little more than a
Is year and is very excited
about this asset as
well as the potential
in Detroit, specifically
"the value opportunity
of this transaction and
the increased economic
opportunities in the
Adam Feldman city tied to the M1 Rail.
Mass transit will be
huge in the years ahead with many more
people living Downtown and commuting
throughout the New Center area:"
The M1 Rail will offer public transit via
streetcars on Woodward. It will go from
Congress Street Downtown to West Grand
Boulevard, at the New Center. It's expected
to launch next year.
"Another appealing economic develop-
ment trend lies in the expanded reach of
Henry Ford Medical Center," Feldman said.
HFZ and Redico are both talking to
all sorts of people involved as they plan
substantial upgrades for the facilities; the
transaction is expected to close this month.
The Albert Kahn Building and the
Fisher Building — both designed by
noted architectural firm Albert Kahn and
Associates — are listed in the U.S. National
Register of Historic Places.
On Oct. 1, 1961, the Fisher Theatre
opened in the Fisher Building. David T.
Nederlander and his sons, James and
Joseph Nederlander, managed the Shubert
and Riviera theaters and other theaters
throughout the country. The Nederlander
Organization, whose founder grew up
in Detroit and which has strong roots in
the city, would go on to become the most
prominent producers of Broadway produc-
tions in America.
The "FIN 321" course at the University
of Michigan deserves a surprising amount
of credit for this recent transaction. It was
in that course, where Adjunct Professor
Steve Morris, managing principal of Axis
Advisors, taught the intricacies of financial
modeling to students at the University of
Michigan's Ross School of Business. One
of his students was undergraduate Adam
Feldman, who would find out about the art
of the deal from his former professor and
go from student of real estate to co-owner
of a Detroit gem in a matter of years.
Constructed for $9 million in 1928,
Max Fisher and Louis Berry acquired the
Fisher Building for a reported $10 million
through Seyburn and Berry in 1962 and
sold it for $20 million in 1974. Southfield-
based FK Acquisitions LLC acquired the
Fisher and Kahn buildings for around $30
million in 2001 but defaulted on its mort-
gage in 2014.
The changing ownership of the Fisher
Building seems like a play we've seen
before, but this time the story line of the
city and its future are being watched by the
world.

❑

16 July 23 • 2015

