We believe wealth management is an advanced level of financial planning services. Wealth management generally includes comprehensive investment management alongside financial advice, tax guidance, risk analysis, retirement cash flow planning and estate planning.
Wealth management is straightforward. From the affluent individual’s perspective, wealth management is simply the science of solving or enhancing your financial situation. From the financial advisor’s perspective it is the ability of an advisor to deliver a full range of financial services and products to an affluent client in a consultative way. By being consultative, wealth managers are truly client-centered. A good wealth manager meets with a client without any presupposed ideals of what financial products or services are appropriate for the affluent individual.
Wealth managers typically specialize in topics that pertain to affluent individuals with complex financial needs. Rather than seek out multiple professionals, you can work with a wealth manager who might coordinate with other experts on your behalf. For instance, a wealthy individual who has been married and divorced, owns multiple properties and has a plethora of investments and accounts to manage may need expertise in legal matters, property taxes and investments. A wealth manager could create a holistic financial plan that takes each of those needs into consideration, either on their own or with outside counsel.