Whether you are an attorney in a large firm or a solo practitioner, you have one thing in common: time constraints. Whether due to the demands of litigation or the pressure to increase billable hours, you may find that you have little time to properly manage your money and plan for financial independence. We often see that professionals like actors and athletes have dedicated business managers to help oversee and guide their financial lives, yet attorneys who are equally successful and equally focused on their careers seldom hire a business manager.

At Silver Oak, we recognize that each attorney will eventually reach a time when thoughts trend toward what life after the law will look like. That time marks the start of a significant transitional period. This transition in thinking may trigger the recognition of a need for new decisions such as whether to renew the office lease for another five years, or retain the same number of staff. And this transition in thinking often becomes a distraction, causing stress and raising uncertainties about the future.

Attorneys In Transition

Silver Oak has created a specialized niche in providing investment, wealth, and financial transition management services to attorneys as a result of Joel Framson’s many years as a practicing CPA for numerous law firms. Based on our extensive research and experience, we have developed a process to assist attorneys in creating a plan to building and maintaining wealth. While much of the process is equally applicable to any busy and successful person, our services recognize the unique profession-wide obstacles and pressures impeding many attorneys from reaching financial security.

For example, Silver Oak recognizes that your 401K or Profit Sharing Plan often represents your largest liquid investment. However, due to your busy schedule, the management of this asset is usually overlooked, leading to a lost opportunity for growth in good times, and leading to the likelihood of avoidable losses during market corrections. Silver Oak has developed proprietary software tools to directly manage the investment decisions and asset allocation for attorneys in these qualified plans.

The Wealth Management Process includes a number of additional steps when specifically tailored to you as an attorney. For example, Silver Oak may assess the benefits provided by the law firm, including any 401K or other retirement plan options, buy/sell agreements or other retirement provision in the partnership agreement, asset protection and risk management, and the portability of benefits.

In addition, Silver Oak also coordinates with the top law firm consultants in Los Angeles to leverage their expertise on behalf of our attorney clients.