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Wyatt Swartz

Personal Finance, Retirement, Investing
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“As the Owner and Primary Investment Advisor at W. Swartz, Co., Wyatt Swartz is committed to helping clients reach their financial goals through more effective asset management.”
Firm:

W. Swartz & Co., LLC

Job Title:

Owner & Wealth Adviser

Biography:

Wyatt takes a holistic approach in providing personalized financial advice for individuals, families, and business owners.

Since 2011, Wyatt has worked with his clients to achieve their financial goals. He has guided clients through major life and market shifts using comprehensive and personalized wealth planning. Wyatt began his career as a Financial Advisor with Renaissance Financial in St. Louis, Missouri. Here, he developed a comprehensive understanding of financial planning and the financial services industry. Wyatt then joined Fisher Investments in San Mateo, California as an Investment Counselor. At Fisher Investments, he had extensive training and experience in portfolio management, capital markets theory, and managed a roster of over 100 high net worth clients. In 2015, Wyatt started W. Swartz & Co., LLC Wealth Management, a fee-only Registered Investment Advisory (RIA) firm. 

Wyatt has a passion for self-study and improvement. Growing up as an athlete combined with his background in history, he’s developed habits which ensure he is constantly refreshing and expanding his knowledge base. He believes in providing real expertise to his clients, as opposed to most in the industry which sell products. Wyatt believes that the modern investor deserves to work with an expert that is always acting as a fiduciary. Wealth management should not be a franchise.

Wyatt and his wife Andrea welcomed their daughter Eloise in February of 2019. They love the joys and challenges of being new parents, and spending time with their family & friends. They enjoy staying active and involved. Andrea is a health and fitness enthusiast and Wyatt is an avid water/snow skier, and golfer. Wyatt gives back as a committee board member for the World Pediatric Project, and as a volunteer football coach.

Education:

BS, Business Administration, University of Missouri – Columbia
BA, History, University of Missouri – Columbia

Fee Structure:

Fee-Only

CRD Number:

256786

All Answers
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    Estate Planning, Investing, Bonds / Fixed Income, Real Estate, Taxes
What are some strategies to minimize the impact of taxes for high earners in a high-tax state?

You and your wife pay a lot in taxes because you are high earners. This is a good problem to have, but it doesn't make the problem any more painful. There are a number of things you should be doing to lessen the burden of taxes while also investing and accumulating wealth. 

  1. Maxing Out Employer Retirement Plans: If you and your wife have an employer retirement plan such as a 401k through work, you each need to be maxing your contributions out. 
  2. Maxing out Health Savings Account (HSA)/Flexible Spending Account (FSA)
  3. Maxing out Non-deductible IRA contributions, and possible converting into a Roth IRA annually: If you and your wife do not have pre-tax (traditional) IRAs you could each make maximum non-deductible contributions to an IRA and convert the account into a Roth every year. If you do have pre-tax IRAs consider conversations and still open another separate IRA to make non-deductible IRA contribuitons. 

You all should certainly be making sizable contributions to a joint brokerage account. This account doesn't have any tax benefits, but it does combine liquidity with an ability to invest in securities. The management of this account needs to be tax conscious.

If you all have children or are connected to children you would like to help with college then 529 Plan contributions could be another option. 

In general I do not recommend permanent life insurance, or life insurance as an investment, but in your scenario buying policies that are tied to a stock market index and maximum funding them over 1-5 years is another option to explore. 

A private family foundation and/or a donor advised fund are potentially perfect for you and your wife depending on how much your living costs are. 

Lastly, buying real-estate perhaps in a separate LLC which you create could give you a way to accumulate a great deal of wealth in a tax efficient way. 

The best advice I can give you is to consult with a combination of your team of experts and review all the options. You team should include a wealth/investment adviser, CPA, and estate planning attorney. If you do not have a team, then you should begin building it right away. You and your wife fall into a category where paying for expertise is a no-brainer. Your wealth is not a DIY project that can be managed on the cheap. 

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