Arthur H. McGonigal. Jr

CFP®, ChFC®, CLU®, CMFC®, CRPC®

Partner & Financial Planner

About Arthur H. McGonigal. Jr

Art’s Biography:

Art McGonigal is a Certified Financial Planner and partner at Heritage Financial Consultants.  For nearly 40 years, Art has helped business owners, wealthy families, and independent professionals fulfill their financial goals. His clients reside throughout the United States and range from burgeoning professionals to those worth hundreds of millions of dollars.

Art’s practice focuses on building comprehensive financial plans for high net worth families.  His team works closely with clients to learn and develop every aspect of their estates.  Drawing from his vast experience, Art guides clients through all matters of their financial affairs, including estate planning, investments, risk management, business succession, tax planning, and charitable giving.  Art’s holistic approach creates personalized plans tailored to achieve each client’s unique objectives.

Art earned a bachelor’s degree in Economics from the University of Virginia and an MBA at George Washington University.  He currently sits on the Gift Planning Council of the University of Virginia.  Art has actively served many nonprofit organizations throughout his career.

Certifications
  • CERTIFIED FINANCIAL PLANNER™ practitioner (CFP®)
  • Chartered Financial Consultant (ChFC®)
  • Chartered Life Underwriter (CLU®)
  • Chartered Mutual Fund Counselor (CMFC®)
  • Chartered Retirement Planning Counselor (CRPC®)
Professional Associations
  • The International Association of Certified Financial Planners
  • The American Society of Chartered Financial Consultants
  • The American Society of Chartered Life Underwriters
  • The Resource Group member (Past Board Member)
Education
  • M.B.A., The George Washington University
  • B.A., The University of Virginia

Art’s Approach:

Financial planning is intensely personal and involves technical knowledge in all the areas noted below.  Attempts to  make decisions using articles or online software can be tempting, but it can also be a critical mistake.  To accomplish outstanding results, a client/couple needs to meet with an experienced advisor, articulate and solidify goals, and incorporate all asset and tax data into a comprehensive plan.  The growth in our practice comes almost exclusively via referrals from existing clients.  If you think we can help and if you are looking for a thorough, professional analysis of your financial life, call us – maybe we can find a connection to an existing client.

My work examines and improves:

Estate Planning
  • Optimize wills, trusts, title, and beneficiary designations to minimize transfer taxes
  • Review existing plans and documents to identify and fix any gaps; explore additional strategies
  • Work to protect assets through generations and from multiple threats (e.g., creditors, divorce, bad decisions, estate taxes)
  • Implement basic strategies for gifting during your life
  • Explore advance strategies of gifting to various trusts, plan for transfer taxes and income taxes that cannot be avoided
  • Examine benefits of charitable strategies
Investments
  • Examine existing portfolio with focus on preserving wealth you have built
  • Design investments that minimize risk for given levels of return, and derive the return you need for independence
  • Tax-efficiently structure your accounts by optimizing asset location
  • Consolidate and establish performance reports to provide adequate “report card” data
Risk Management
  • Identify the risks you and your family face (e.g., taxes, inflation, creditors, poor return, bad management, excessive risk, health events, etc.), and the strategies that decrease the risk
  • Prepare your assets for your children, and prepare your children for your assets
  • Identify entities (e.g., corporations, partnerships, LLCs) that can isolate liability
  • Examine all types of insurance to protect against the risks we cannot eliminate
Business Sucession
  • Review and revise shareholder agreements to cover major life events (e.g., divorce, death, retirement, cessation of employment)
  • Execute runway planning
  • Advise on compensation and equity sharing to attract and retain top talent
  • Provide benefits analysis
Tax Planning
  • Minimize all taxes (e.g., income, capital gains, estate, gift, generation skipping, IRD)
  • Maximize deductions and divert income to lower tax brackets
  • Use charity to redirect taxes to your philanthropic causes
  • Optimize use of qualified and non-qualified retirement plans
  • Coordinate with your CPA, attorneys, and other professionals

CRN-3688416-072621

703-749-5051

8219 Leesburg Pike, Suite 200 Vienna, VA 22182