IAFF Wealth Management Initiative

Begin working with an approved IAFF-FC Advisor today.

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What is the IAFF Wealth Management Initiative?

Baystate Financial, a MassMutual firm, has partnered with your IAFF Financial Corporation to bring members and their families financial strategies to assist in making timely decisions at each stage in life. With MassMutual offices located nationwide, we are committed to delivering the personalized attention and accessibility IAFF members and their families deserve. We believe that a financial strategy begins with education first, and is about providing you with guidance, insight, and results.

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Insurance

Protecting your family and your assets is a core part of the financial journey. In addition to planning long-term and investing your wealth appropriately, ensuring that you have the right insurance protection is critical.

 

An insurance risk assessment is available to all IAFF members at no cost.  

 

Investment Advisory

One of the important parts of planning for your financial future involves making educated decisions about managing your savings to grow your wealth. For those who start financial planning at a younger age where there may be more appetite for risk, we will guide you accordingly. As you near retirement, protecting your assets becomes more important as the runway for recovery in the market decreases, encouraging a more conservative approach.

 
Financial Education for Firefighters

PlanWell™ is a no-cost financial education program designed to help the IAFF-FC bring financial well-being to you. It provides a one-on-one, personalized financial experience through customized workshops, classes, webinars, and professional guidance. We work around your schedule and can offer PlanWell at your firehouse or virtually!

 
Our Four-Step Financial Planning Approach

01.

Listen to an IAFF member’s financial objectives

02.

Design a holistic plan

03.

Implement the plan through appropriate products & strategies

04.

Review and update the plan and service products

Every engagement begins with a 30–60 minute complimentary discovery meeting. We will help you understand your current financial position and work with you to understand what planning option makes sense according to your goals, current position, and resources.

Under the plan designed by your IAFF-FC, each financial planning tier listed below reflects a $500 reduction in the standard fee. This is a voluntary member benefit, and the reduced financial planning fee is fully paid by the member. (When engaging in a financial plan, a tiered planning model is offered, providing members flexibility when deciding their preferred level of engagement.)

Silver Plan - $1,000

This plan is designed for those just getting started and wanting to better understand their finances. We will help with prioritizing and reaching financial goals such as debt reduction, wealth accumulation and protection. Deliverables may include the following: • Financial goals assessment & gap analysis • Detailed balance sheet • Cash flow management & budgeting • Debt management • Protection planning & risk management • Employer benefits analysis • Basic asset allocation • Basic estate planning/wills

Gold Plan - $1,500

This plan is designed for individuals or couples who are beginning to accumulate wealth and looking for help tying it all together. Like the Silver Plan, we will help you prioritize your goals and design a roadmap to reach of them. In addition to the Silver Plan topics, deliverables may include the following: • Detailed asset allocation strategies based on specific goals, time horizon & risk tolerance • Tax management • Education planning for children/grandchildren • Retirement savings strategies • Pension income analysis • Estate planning & creditor protection

Platinum Plan - $2,000+

The Platinum Plan is designed for those with more complex financial situations. It is appropriate for households with multiple streams, higher net worth, and those looking for retirement income strategies. In addition to the Gold Plan topics, deliverables may include the following: • Tax-efficient investment strategies • Capital gain or loss review & income tax analysis • Retirement income & distribution strategies • Estate distribution analysis & trust planning • Gifting strategies & charitable planning • Projected estate taxes & strategies to minimize transfer costs

Personal Financial View®

While your local advisor is always a phone call or email away, you also have access to all of your key financial data and critical documents with our technology platform, Personal Financial View®. PFV® streamlines the organization and management of your financial plan, from spending and budgeting; to accessing a full suite of reports; alerts, and alarms to ensure you stay on track; and an online vault that stores, organizes, and secures your important legal, financial, and personal documents in one place. PFV® is a complimentary service to IAFF members.

Your Free Benefits When Utilizing the
IAFF Wealth Management Initiative 

  • Free initial discovery meeting to help you understand your current financial position and work with you to figure out what planning options make the most sense for you.​

  • Access to free PlanWell™ financial education at your local fire station: learn how to make the most of your money and plan for the future with our firefighter-specific financial workshops.

  • Complimentary access to Personal Financial View (PFV): While your local advisor is always a phone call or email away, you also have access to all of your key financial data and critical documents with our technology platform. PFV® is a complimentary service to IAFF members engaged in a financial plan.

  • Discounts of at least $500 on financial planning for IAFF members

  • Free financial planning as part of Line of Duty Death support

  • Free Life Insurance needs analysis

 
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Get Started

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As part of our commitment to IAFF members and their families, those that serve on America’s frontlines, we are honored and humbled to provide a comprehensive financial plan and risk assessment at no cost to LODD survivors, along with fiduciary asset management to ensure the resources of survivors are managed appropriately.

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