Parks Wealth Advisors
WorkflowTypeCadence
Annual Review Cycle
End-to-end annual review: data refresh, module updates, action items, next-year planning. Coordinates all VPs.
RecurringAnnual · per client
Net Worth Statement Update
Household balance sheet tracked over time. Foundational data read by nearly every other workflow.
RecurringQuarterly · auto-refresh
Cash Flow & Budgeting
Household cash flow, savings rate, surplus/deficit. Foundation for every plan module.
RecurringAnnual + ad hoc
Emergency Fund Review
Sizing, location, liquidity tiering. Runs standalone or as part of Cash Flow.
RecurringAnnual
Tax Projection & Strategy
Current-year projection, multi-year planning window, bracket management, AMT, NIIT.
RecurringMid-year + year-end
Quarterly Estimated Tax
Safe harbor calc, Q1/Q2/Q3/Q4 estimates, withholding adjustment.
RecurringQuarterly · Apr/Jun/Sep/Jan
Tax Loss Harvesting
Lot-level review, wash sale management, bracket optimization. Year-end is heaviest.
RecurringYear-end + opportunistic
Beneficiary Audit
Every account, every policy, every retirement plan. Bad beneficiary forms cause more estate problems than bad trusts do.
RecurringAnnual
Open Enrollment
Annual benefits election: medical/HSA, FSA/DCFSA, disability, life, ESPP, 401(k) structure.
RecurringAnnual · Oct–Dec
Foreign Account Reporting
FBAR (FinCEN 114), FATCA (Form 8938). Annual recurring for cross-border clients.
RecurringAnnual · Apr/Oct
Portfolio Review & Rebalancing
Drift review, tax-lot harvesting, cash deployment, concentration management.
RecurringQuarterly
Model Portfolio Construction
Firm-level models: accumulator, decumulator, tax-sensitive, cross-border, concentrated-stock overlay.
RecurringOngoing
Retirement Projection
Monte Carlo at multiple savings rates, sequence-of-returns scenarios, withdrawal sequencing.
Event-drivenOnboarding + major change
Social Security Optimization
Claim age, spousal/survivor strategy, earnings test.
Event-drivenAges 60–65 window
Medicare & IRMAA Planning
Part B/D enrollment timing, IRMAA brackets, Medigap vs. Advantage.
Event-drivenAges 63–65
Roth Conversion Ladder
Multi-year Roth conversion modeling. TCJA sunset, IRMAA, state arbitrage, beneficiary planning.
Event-drivenPlanning window trigger
Stock Compensation
RSU vest-sell decisions, ISO AMT modeling, NQDC election windows, 10b5-1 plan design.
Event-drivenVest/grant/election events
Concentration Risk Management
Triggered when single position exceeds a threshold. Hedging (collars, exchange funds) and appreciated-stock gifts.
Event-drivenThreshold breach
State Residency & Domicile
NY-to-FL/TX/NV move analysis. Domicile documentation, audit defense, state sourcing rules.
Event-drivenMove consideration
Estate & Trust Review
Wills, trusts, titling, beneficiaries, gifting. Also owns account structure questions.
Event-drivenLife change or 3-year cycle
Account Structure Review
How accounts are titled across household, trusts, LLCs, entities. Beneficiary alignment, creditor protection.
Event-drivenOnboarding + material change
Trust Funding Verification
The trust exists — but did the assets actually get retitled into it?
Event-drivenPost-trust-creation + audit cycle
Insurance & Risk
Life, disability, LTC, umbrella liability review. Needs analysis and gap identification.
Event-drivenOnboarding + life change
Cross-Border Structuring
Pre-immigration planning, dual-status years, FBAR/FATCA/PFIC compliance, trust/entity optimization.
Event-drivenImmigration event
Expatriation Planning
Exit tax analysis (IRC 877A), covered expatriate status.
Event-drivenPre-expatriation
Education Planning
529 vs UTMA vs brokerage, gifting strategy, state deductions, FAFSA positioning.
Event-drivenNew child + each phase
Charitable Giving
DAFs, CLTs, CRTs, QCDs, appreciated-stock gifts, pre-liquidity-event planning.
Event-drivenIncome spike / pre-liquidity
Business Owner Planning
Entity structure, retirement plan selection, QBI optimization, succession/sale prep.
Event-drivenOnboarding + structural change