Drew J. Prescott
President/Wealth Advisor
518-203-1983 Drew@prescottpw.com
Who We Work With
At Prescott Private Wealth, we specialize in serving three distinct groups of clients, each with unique financial challenges and goals. Our personalized approach ensures that we meet the specific needs of each client, providing expert guidance and tailored solutions to help them achieve their financial objectives. Below, we outline who we work with and the unique challenges they face:
Family-Owned Construction and Manufacturing Businesses
Who They Are:
- Owners of successful family-owned construction and manufacturing businesses.
- Individuals with a strong desire to hand their business down to the next generation.
Challenges They Face:
- Estate Planning: Ensuring a smooth transition of the business to the next generation, minimizing estate taxes, and preserving family wealth.
- Defined Benefits and Nonqualified Benefits: Creating retirement plans and nonqualified benefit programs that attract and retain key employees while providing financial security for the business owners.
How We Help:
- We develop comprehensive estate planning strategies that protect your legacy and facilitate the seamless transfer of business ownership.
- Our team designs and implements defined benefit plans and nonqualified benefit plans tailored to the needs of your business and its key employees.
Medical Professionals (Partners with Self-Employment Income)
Who They Are:
- Medical professionals who are partners in their practices and receive self-employment income, typically reported on IRS Form K-1.
Challenges They Face:
- Tax Burden: Managing significant tax liabilities and seeking strategies to reduce annual tax burdens.
- Retirement Planning: Ensuring a guaranteed retirement income that aligns with their high-income lifestyle and long-term financial goals.
How We Help:
- We specialize in designing guaranteed retirement income solutions that not only secure your financial future but also provide tax-efficient strategies to reduce your annual tax liabilities.
- Our expertise in managing self-employment income allows us to offer personalized advice that addresses your unique financial situation and goals.
Highly Compensated Executives at Publicly Traded Companies
Who They Are:
- Senior executives at publicly traded companies, often receiving a substantial portion of their compensation through stock options and bonuses.
Challenges They Face:
- Stock Options Management: Navigating the complexities of stock option exercise and sale to maximize financial benefit and minimize tax implications.
- Efficient Financial Planning: Creating a comprehensive financial plan that efficiently manages their substantial income and investment portfolios.
How We Help:
- We provide expert guidance on the optimal timing for exercising and selling stock options, helping you maximize your financial gain and reduce tax liabilities.
- Our personalized financial planning services ensure that your investment portfolio is aligned with your financial goals, providing a more efficient and effective approach to wealth management.
Why Choose Prescott Private Wealth?
As a Chartered Retirement Planning Counselor (CRPC) and Accredited Wealth Management Advisor (AWMA), I bring a wealth of expertise and experience to the table. We require a minimum account size of $250,000, ensuring that we dedicate our resources to clients who are serious about pursuing their financial goals.
Our clients appreciate the peace of mind that comes from knowing our recommendations are made with their best interests in mind, free from the constraints of proprietary products. At Prescott Private Wealth, we are committed to helping you navigate your unique financial challenges and achieve lasting success.
If you are ready to take the next step towards financial security and success, we invite you to contact us today and discover how Prescott Private Wealth can help you achieve your financial goals.