CALAID – a structured planning, investment and risk assessment philosophy is the basis of the Northstar Companies approach to all clients and their unique situations. Investing without understanding the goals for the money or the demands that may be placed on it and when those demands may present themselves is a lot like driving blind. We would much prefer to know our clients and how they see their future and that of their family or business before investing. Our strategy is simple but the process is thorough and insightful for all parties.

COMPREHENSIVE.  
A plan begins with the declaration of the end goal(s). Then all facets of an individual or company are examined in a holistic manner to determine what assets and savings can be brought to bear to achieve those stated goals. 

ANALYSIS.
Things in our lives are dynamic and move with time. As such goals and their accompanying plans are subject to ongoing change. Periodically analyzing the instituted plan from a ground up perspective ensures the plan stays on target to the goals. An existing plan may have been initially developed and implemented in a comprehensive fashion but by consequence of time and change has become outdated.

LIABILITIES.
We all have liabilities to contend with and understanding the full extent of the pressure on personal cash flows is an important and necessary part of planning. Long term liabilities and short term expenses will change over time positively and negatively impacting planning strategies. Goal funding for retirement, college etc is a result of multiple aspects of income planning but also cost control. Control comes from the knowledge created by an in depth review of one’s real cost situation.

ASSETS.
Savings, work retirement plans, home equity, inheritance and windfalls, trusts, and annuity contracts or pensions are just some of the elements that constitute your assets. Understanding the full extent of your Assets and Liabilities allows us to construct your Personal Balance Sheet. Understanding all the streams of income and the outgoing cash flows for a period in your life enables us to detail your personal Profit/Loss statement. 

INSURANCE.
Insurance is the mechanism by which the potential of risk is managed and mitigated. Life, Health, Disability and Long Term Care are all concepts of risk coverage that we understand. But this is an overly simplistic view of insurance and every family and individual situation is unique and dynamic. As our liabilities and assets grow so too do the related risks of loss. Whether it be actual realized loss like loss of income, permanent or temporary, a change in your health or a loss of the coverage itself such as a move to a self employed position. Insurance coverage needs to identify the risks each client cannot personally handle from assets and cash flow and cost effectively manage that risk.

DESIRES.
Retirement, college for kids, paying down debt, a second home and many other wishes and dreams we have can be planned for and managed as long as they are understood, qualified and expectations addressed with honesty and  the developed plan respected.  Developing a financial plan takes time and a commitment by the client as much as by the financial planner. By taking the time, life’s ups and downs can more easily be accommodated and the emotional stress of “not knowing” dramatically reduced.