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Financial planning

We help investors and professionals from many industries develop holistic financial plans.

Financial planning
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Even for sophisticated investors, managing wealth can be challenging.

The greater your wealth and the more dynamic your circumstances, the more valuable financial planning can become.

A financial plan can help you understand your current situation, define your goals and set out a strategy for achieving them.

A detailed statement of net worth, an evaluation of your portfolio in light of the allocation we recommend for you, and a multi-year cash flow analysis are among the insights we provide.

Our financial planners can also help you prepare better for expected and unexpected major outlays, such as a second or vacation home, a private jet or a new business venture.

If you are seeking to sell your interest in a business, diversify a concentrated holding, or manage another liquidity event, we can advise how to make it work best for your wealth.

To customize your plan, we draw upon some of the most advanced resources available, such as the work of our asset allocation and portfolio analytics specialists.

The resulting financial plan is a living document, which should evolve alongside your situation over time.

We will therefore periodically discuss this framework with you to address life events and changes in your overall goals and objectives.

We work with Bankers, Investment Counselors and other product specialists to create, implement and monitor customized financial plans.

Luke Hadzima
Head of Financial Planning - North America
How we serve you
Actionable insights
Effective planning begins with a detailed assessment of the present.

We therefore produce a net worth statement, giving you a comprehensive understanding of your current situation.

This statement can subsequently help us to determine realistic financial goals and aid in monitoring your progress towards them.

It can also give an estimate of your retirement income and the potential inheritance for your heirs, as well as reducing the impact of any unexpected events.

Cash flow analysis
With often intense focus on assets, cash flow sometimes fails to get the attention it demands.

Even the wealthiest investors can thus experience mismatches between their available liquidity and their requirements.

We offer a cash flow plan for you and your family, which provides detailed analyses of income and expenses.

Such a plan can help determine ability to maintain current lifestyle in retirement, accommodate large expenses or unexpected events, such as medical or long-term care expenses, evaluate wealth transfer and gifting capacity, and plan for survivorship income and expenses.

Your cash flow plan is revisited periodically to address changes in goals and can include corporate benefits modeling, such as pensions, deferred compensation, and restricted stock/options.

Wealth protection beyond your lifetime
Having an estate plan can provide essential protection for your family and assets during your lifetime and beyond.

We can work with your independent advisors to help develop an estate plan that reflects your objectives and maximizes the wealth that passes to your heirs and chosen causes.

Such a plan can also help enhance confidentiality and potentially minimize taxes.

In partnership with external specialists, we can enable the delivery of integrated insurance solutions to address a wide variety of wealth transfer concerns.

These include arranging for equitable distribution of illiquid assets like fine art or real estate, establishing a charitable legacy, planning for business succession and liquidity provision for taxes and debt.

Meet our people

Luke Hadzima caricature
Global Head
Luke Hadzima
Head of Financial Planning
North America
“We work with Bankers, Investment Counselors and other product specialists to create, implement and monitor customized financial plans.”

Luke leads a team dedicated to developing and delivering comprehensive financial planning strategies to help address clients’ wealth management goals around cash flow needs, estate planning strategies, asset allocation positioning, retirement, and education.

Prior to joining Citi Private Bank in 2010, Luke was an Associate Director and Financial Planner at UBS Financial Services, Inc., where he worked on creating and presenting comprehensive financial plans for the firm’s Ultra High Net Worth clients. Before UBS, he worked as a Financial Planner at Summit Financial Resources, Inc.

Luke is a graduate of Plymouth State University in Plymouth, NH. He is a Certified Financial Planner practitioner and a Chartered Financial Consultant.

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Luke Hadzima caricature
Global Head
Luke Hadzima
Head of Financial Planning
North America

Luke leads a team dedicated to developing and delivering comprehensive financial planning strategies to help address clients’ wealth management goals around cash flow needs, estate planning strategies, asset allocation positioning, retirement, and education.

Prior to joining Citi Private Bank in 2010, Luke was an Associate Director and Financial Planner at UBS Financial Services, Inc., where he worked on creating and presenting comprehensive financial plans for the firm’s Ultra High Net Worth clients. Before UBS, he worked as a Financial Planner at Summit Financial Resources, Inc.

Luke is a graduate of Plymouth State University in Plymouth, NH. He is a Certified Financial Planner practitioner and a Chartered Financial Consultant.

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Insights

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Global citizens

The Private Bank exists to serve a very special community. Hear the stories of global citizens in their own words.

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Global Citizens
Experience creator
ALAN FAENA

“Giving new life to a city is one of the most beautiful things that anyone can do,” says Alan Faena, as he looks out on the Miami neighbourhood that now bears his name. “It’s one of the things I’m most proud of, both here and back home in Buenos Aires. These are my gifts to the people, not only for today’s generation but also for future generations.” And what a gift the Faena District is indeed.

Spanning five blocks adjacent to the white sands of Miami Beach, the neighborhood is nothing less than an urban oasis of sensory delights. Its buildings – old and new – somehow fuse perfectly with their natural surroundings. Absolutely nothing is mundane here, not even the multistory parking garage, whose exterior could easily pass for that of an ultra-modern cultural center or designer shopping mall. Incidentally, the Faena District also possesses both of those things.

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Global Citizens
Adriana Cisneros
ADRIANA CISNEROS

“I think it’s something like less than one third of family businesses that make it from the first to the second generation and half of those don’t make it to the third generation,” says Adriana Cisneros. “I’m the third generation in our business, so I really hope I’m going to be one of those that survives. Who knows, I might completely mess up, but hopefully not.” Messing up seems a rather unlikely prospect going by Adriana’s record to date. The company is in robust health under her leadership. She has recently returned from a whistle-stop tour of Central and South America, where Cisneros Interactive has become the sole reseller of Facebook in nine countries, the only nations on earth where the social media giant will not manage its own sales.

Facebook chose to work through Cisneros Interactive because it already has the region’s most advanced advertising network. “I started Cisneros Interactive, our digital division four years ago,” says Adriana. “Our aim from the outset has been to create the largest advertising network in Latin America and also the smartest. When we began, others were trying to do similar things, but in a very country-specific way. No one really dared to do it pan-regionally. I used the same architecture to build the business that my father did when he brought satellite television to Latin America three decades ago.”

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Global Citizens
The Brown family & NFI: Keeping North America running
SID BROWN

I went to Georgetown University, where I majored in finance. After graduation, I went to New York, where I worked for two years in investment banking at Morgan Stanley, before attending Harvard Business School. At that point, I had to decide if I wanted to go back into investment banking or return to the family business. It was 1983 and NFI was primarily a trucking business with very small warehousing, real estate, and truck leasing components.

I’m not completely sure exactly what I was thinking at the time, but I probably felt a certain obligation to join the family business. I’d kind of grown up within NFI. From junior high school onwards, I’d always helped out at the company during summer vacations. I’d worked in the maintenance shop and as a loader in the warehouse. We had always discussed business around the family table as far back as I can remember. So I guess you could say it was in my blood.

When I entered the business, I also had two brothers and a sister working alongside me. So I not only had to figure out how to work with my father, but also with my siblings too. As we were coming up through the ranks, our father wisely refused to appoint any of us as his successor. ‘If I pick one of you,’ he said to us, ‘the others will always resent me and our relationship will suffer.’ Instead, he told us to work it out among ourselves, after which he would sell the business to us.

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Global Citizens
Fighting an asymmetric war
MOHAMED AMERSI

Problem-solving and progress-making are second nature to Mohamed Amersi. For many years, he worked as a lawyer for two of the world’s leading firms, focusing upon highly complex equity-related deals. He subsequently set up his own advisory and investment firm specializing in technology, media, and telecoms. In 2015, he and his family created the Amersi Foundation, which particularly supports causes relating to education, poverty, conflict, and social cohesion.

The pandemic has definitely felt like a war at times. But it’s an unusual, asymmetric kind of war. The enemy we’re fighting is one that we can’t see or touch. It doesn’t deploy tanks, fire bullets or have a nuclear arsenal. But it does have hidden bases in pretty much every single part of the Earth. And our current weaponry is unable to defeat this enemy – an enemy that is only interested in killing us.

Like most people, I have had to learn a lot very quickly about COVID-19. I had no in-depth understanding of what ‘triaging,’ ‘social distancing,’ and ‘self-isolation’ were all about. We’ve all learned a completely new lexicon, a new way of living and have a new way of thinking about things. It’s a strange paradox, but we’ve had to stay apart in order to come together against this pandemic.

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