Financial Planning

Korving & Company is a financial planning and investment management firm with financial advisors in Virginia Beach whose specialties are working with couples and retirees — including women who have recently lost a spouse — who would like to enter into and commit to the retirement-planning process.

Korving’s comprehensive financial services and friendly certified financial planning experts can help you hedge against losses and build a solid future for your post-retirement years. Get in touch today so we can develop an individualized plan for your financial planning and investment needs.  

Our Areas of Expertise

Services we offer include retirement planning, succession and estate planning, income planning, wealth management, college planning, comprehensive financial planning, and general investment advice to meet financial goals.

More detailed explanations of each of these terms are here:

  • Retirement Planning — This encompasses all the steps necessary to build savings that will be sufficient to support a person for the rest of his or her life after retirement.
  • Succession and Estate Planning — Succession is determining who inherits assets when a person dies. That person could be a spouse or a close relative. The estate is the assets they leave behind when they pass away. Typically, a substantial estate must be managed competently for its assets not to be reduced or lost over time.
  • Income Planning — This is the process of determining which investment vehicles will earn funds and at what rate, typically for retirement purposes. Generally speaking, income has to meet certain thresholds to be acceptable for a retirement plan.
  • Wealth Management — Some people would like to invest or manage their assets separately from any planning for retirement. Wealth management is the process of protecting these assets and developing them responsibly.
  • College Planning — College is typically a considerable expense for families. In many cases, multiple sources of income need to be drawn upon to pay for college. Planning and paying for college can be easier when assets are invested the right way.
  • Comprehensive Financial Planning — Comprehensive financial planning takes into account all aspects of a person’s needs at various life stages. Someone who is 30 years away from retirement will have different needs than a person who is ten years away from retiring, for example.
  • General Investment Advice — A financial planning professional can offer sound advice about nearly every type of investment and/or financial asset. These can include (but are not limited to) stocks, bonds, mutual funds, commodities, real estate, pensions, and life insurance.

Who Is Korving & Company?

Korving & Company is a Registered Investment Advisor firm comprised of a father and son team, business owners Arie and Stephen Korving, who have between them more than four decades of investment management experience. Korving & Company’s goals are to provide personalized service with a high degree of integrity. In 2021, Korving & Company was chosen as Suffolk, Virginia’s Small Business of the Year by the Hampton Roads Chamber of Commerce.

Business partner Arie Korving has more than three decades of investment and wealth management experience. Before co-founding Korving & Company, he was a First Vice President of Wealth Management at UBS after serving in various management positions at General Electric. Arie is a graduate of Michigan Tech, where he majored in chemistry. He is married and has two children and five grandchildren.

Business partner Stephen Korving is the son of Arie Korving. Like Arie, Stephen also previously worked in the wealth management department of UBS as a financial advisor. Before UBS, Stephen worked at investment firm Cambridge Associates, where he advised wealthy individuals and institutions with multi-billion dollar portfolios, learning firsthand about portfolio construction and implementation — skills he uses today at Korving & Company. Stephen is a graduate of Virginia Tech, where he earned a business degree. He is married and has three young children.

Why Is a Financial Advisor Necessary?

Many Americans don’t have savings set aside for their retirement. Or, if they do have savings set aside, the assets are not in investment vehicles that are safe enough or profitable enough on a long-term basis to grow the funds to the amounts that will be needed when the person who is saving retires.

Some people approaching retirement age believe that their Social Security benefits will be enough or nearly enough to sustain them in their later years. But even if this were the case, the Social Security system itself is getting shakier and shakier; a preponderance of independent observers have predicted that the U.S. government’s Social Security reserve funds will be depleted in 15 years.

If the U.S. Congress doesn’t fix this issue, most Social Security benefit payments will have to be reduced. At the same time, health care costs are expected only to increase. This means that a larger and larger proportion of one’s Social Security benefits will go toward paying for bills like Medicare. As things currently stand, Medicare Part B premiums are deducted automatically from a person’s Social Security checks.

Beyond Social Security, many Americans own their own homes, so they may feel this gives them some baseline financial security. However, in most cases, this homeownership is only partial; one or more banks own the part of the home that’s still covered by the mortgage, which in most cases won’t be fully paid for years. Mortgage payments, credit card payments, and even old school loan payments make up significant debts that Americans will have to manage going forward while they seek to improve their financial standing and save for their retirement.

For those who aren’t familiar with investment advisory services, financial planning can initially appear overwhelming. If you don’t have qualified assistance in these matters from an investment advisor or fiduciary coach, it’s easy to lose money on investments or suffer financial losses in any number of ways.

Every client has their own set of needs and vision for what type of financial planning management is right for them. To find out what type of financial planning is right for you, try taking the short quiz on this page.

Korving & Company Can Help

While all the above may sound like a lot to think about, Korving & Company has made it its mission to help those who wish to stabilize and improve their financial status and position themselves better for their retirement. Whether you’ve been anticipating your needs for years or have had to figure things out suddenly in the wake of a major life event, Korving & Company is likely able to assist you, regardless of your financial situation.

Korving & Company’s comprehensive financial services include retirement planning, income planning, college planning, financial planning, and all types of investment advice. As Certified Financial Planners (CFPs, see below), Korving & Company can also help with estate planning services, insurance products, and investment management.

Even if your needs lie purely in investment portfolio and/or wealth management services, Korving & Company can help you. Korving & Company takes the time to get to know each and every client and their personal goals to tailor investment strategies just for you.

What Does a Financial Advisor Bring to the Table?

Attempting to navigate the world of asset allocation and investment planning alone can be incredibly daunting. A professional financial planner acting as a personal investment advisor can help guide you through even the riskiest economic landscape to meet your financial needs.

You may have heard of investment professionals with all types of lettered titles after their names, like CPAs, CLUs, and ChFCs. But the title that really matters is CFP, or Certified Financial Planner. A CFP can help you assess your position in a wide variety of financial situations and guide you toward financial security. Both Arie and Stephen Korving are CFPs registered with the Certified Financial Planner Board of Standards.

CFPs work with banks, brokerage houses, investment broker-dealers, and other financial groups and institutions to manage client assets. They do all the hard work and perform necessary background tasks like qualifying investment funds and making sure FINRA BrokerChecks have been done, so you don’t have to think about the details of your assets under management.

Our Financial Planning Process

The first step in Korving & Company’s process is a discovery meeting, in which we can get to know you and can assess your financial status. We’ll talk to you about your short-term, medium-term, and long-term goals, as well as any additional concerns or expectations you may have. By the end of the meeting, you’ll have a clear idea of our costs and what to expect when working with us.

For the next step, we’ll email you a link to a website where you can enter your data into our planning system at your leisure. Some of this data will include information about your present financial status, while other parts will deal with your financial goals and what you’d like to accomplish in terms of providing for your future. Once all the data is entered, just click a link, and we’ll review what you’ve input.

After we’ve had a chance to review your information and assess your financial goals, we’ll start to put together a financial investment plan that’s customized for you. This process typically takes one week from the time we receive your information.

Once we’ve had a chance to finalize our recommendations, we’ll set up a follow-up meeting with you to go over our plans, and we can answer any questions you may have at that time. You’ll receive a printed copy of our plans for you, including all necessary disclosures (such as SIPC coverage and FINRA/SIPC enrollment where applicable) that you can take home and review at your leisure. You’ll also get access to our planning software that will let you simulate how different variables can affect your investments over time.

After these steps have been taken, you’re able to get in touch with us anytime. Still, we especially encourage you to engage with us every two to three years, or when a major life event (such as a job change, a new birth, a retirement, or a death in the family) occurs, to review what’s happening with your assets and investments. While you’re focused on the rest of your life, we’ll make sure you’re staying on track with your financial goals.

Korving & Company: Financial Advisors You Can Trust in the Suffolk/Norfolk/Newport News/Hampton Roads/Virginia Beach/Chesapeake Bay Area

Korving & Company’s years of experience in financial planning allow us to act as trusted investment advisers. We help clients determine ideal investment strategies for long-term success in growing net worth and implementing tax planning, life insurance, and risk management to protect the total assets under management.

For retirement planning, succession and estate planning, financial planning, income planning, college planning, and general investment advice — especially in the Virginia Beach, VA 23462 or Virginia Beach, VA 23452 areas — request a free consultation today by calling 757-638-5490, or completing this online contact form to speak with an experienced, friendly Korving & Company CFP.

Financial planning is offered as a stand-alone service or as a complement to our asset management services. Whichever way you prefer, our process is the same.

We know that financial planning can be a little overwhelming.

That’s why we offer it as a stand-alone service or as a complement to our asset management services. But whichever you choose, our process stays the same, so you know exactly what to expect.

Download a sample financial plan by filling out the short quiz below.

Step 1 of 6

Here’s how it works:

Discovery Meeting

We get to know you as an individual and as an investor. We’ll take a look at your current financial situation, your financial goals, and your concerns and expectations. By the end, you will have a quote for our services and a clear picture of what it will look like to work with us.

Enter Your Data

After our discovery meeting we will email you a personalized link to input your data into our planning software at your leisure. When you’ve completed this step, you will click a link to alert us and we will review the data to make sure it’s complete.

Create Your Plan

After we have a full look at your current data and your goals, we begin putting together your personalized financial plan. Once the data is complete, this usually takes about a week.

Review Your Strategy

Once we’ve finalized our recommendations, we’ll schedule a follow-up meeting with you to review the plan and answer any questions you have. You’ll have a paper copy to take home as well as access to our planning software that let’s you simulate different variables as time goes on.

Stay In Touch

While you are always able to get in touch with us, we recommend that we do a review every 2-3 years or whenever a major life event occurs (new birth, death, job changes, retirement, etc.) We will help make sure you stay on track and achieve your financial goals!

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Start taking control of your financial future.

To schedule a consultation or ask additional questions,
please call (757)638-5490
or e-mail info@korvingco.com.

If you’d like to schedule a consultation or ask additional questions, please call (757)638-5490

info@korvingco.com

©  Korving & Company, LLC