As the saying goes, money can’t buy happiness. Although that’s true for the most part, financial stability plays a crucial part in having a comfortable life, enabling people to navigate sudden changes and enter new life stages stress-free. Granite Bay Wealth Management LLC (GBWM) realizes the importance of strategic financial planning, especially when faced with drastic shifts, such as divorce, retirement, or sending a child to college.
According to Paul, too much focus is placed on investments and trying to outperform an index, neglecting other crucial aspects of financial planning. GBWM strives to help clients achieve their retirement income goals consistently and with as little stress as possible from the inevitable volatility of the market.
One way Paul and his team work towards this goal is by going beyond traditional stock and bond investments to provide income and protection to their portfolio. GBWM uses a disciplined process of writing covered calls on holdings to generate income while determining when to sell the security.* In addition, when investing cash they will frequently use cash-secured put sales to pick an entry point into the holding and generate additional income in the process. While selling options is a strategy frequently employed at the institutional level, GBWM noticed that this area of investing was often overlooked by retail financial advisors. “One of the hardest things to do in investing is deciding when to sell a winning stock,” said Paul. “By determining in advance based on thorough research a price at which you are willing to buy or sell a security you can take the emotion out of the decision.”
Generating income and planning for retirement are not the only places GBWM has experience in helping clients. While going to college is a thrilling chapter of many student’s lives, the financial side of it is often nerve-wracking and difficult to grasp. Granite Bay provides a full-service approach to preparing for college. GBWM helps put together a plan to save for college as early as possible, but the firm doesn't stop there. Once students get closer to applying, there are crucial aspects that need to be considered. These include understanding the FAFSA, positioning assets in correct accounts, and choosing schools with the highest chances of granting merit aid and the greatest likelihood of academic success for the student.
Granite Bay also offers an annual Inspirational Essay contest for high school seniors pursuing higher education. The winning essay receives a $2,500 college scholarship, just one of the ways for the company to give back to the communities it’s involved in.
Passionate about assisting individuals grappling with complex situations, Granite Bay Wealth Management helps numerous individuals going through transition phases, such as divorces, deaths, or major life changes These circumstances are challenging due to multiple moving parts, and assistance from qualified financial advisors softens the impact of these events by reducing the money-related stress.
Founded in 2006 by Paul Stanley CFP® and Joseph Skees CFP®, GBWM is a comprehensive wealth management firm that guides customers every step of the way, ensuring financial goals are achieved, and personal needs are fulfilled. Granite Bay prides itself on serving individuals with the most complex financial situations, illuminating their path to sustainable prosperity.
“The role of wealth management advisors doesn’t end with investment strategies or financial planning,” remarked Paul. “It’s all about coming up with personalized solutions and being a resource for people, someone they can bounce decisions off of on their journey to financial stability.”
*Investing involves risks, including loss of principal. Options strategies generally involve additional costs and do not entirely assure a profit or guarantee against loss. Options are not suitable for all investors. Certain requirements must be met to trade options.
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Contact: Paul Stanley
Email: [email protected]
