A wealth manager can be a single source that gathers data from several resources to help you make sound financial decisions. Wealth management often combines information from a variety of sources, including financial advice, real estate planning, and retirement planning to help you make the best overall decisions for your financial needs.
MORE THAN ADVICE
Wealth management is more than advice; it can help you integrate and structure assistance from a number of products to help coordinate and manage your financial resources today and into the future for yourself and your family. A wealth manager can be the one person you turn to when you need to solidify one answer from multiple resources. He or she can offer a professional, experienced, and objective view that can often lead to better decision-making on your part.
While many wealth managers frequently combine many services into one approach, others in the wealth management field choose to focus on just one particular area of investment strategy. Some wealth managers may be part of a small business structure, while others may be part of a larger financial investment firm. They are sometimes also referred to as financial advisors or financial consultants. They will begin their assessment by developing a plan specifically with your financial goals in mind. Regular meetings between both of you will help ensure your financial goals are on track.
Accountants, insurance agents, and your own personal attorney can also be allowed in your investment circle when your wealth manager is assessing opportunities and risks for your financial strategy. By incorporating all aspects of services that you utilize, you will get a much better and much more well-rounded investment plan that will allow you to build your wealth.
Wealth management services are most appropriate for those individuals with a high net worth. While there is no exact figure that defines “high net worth,” typically use figures that incorporate liquid assets over a specified figure; that figure can differ from one financial institution to another. If you are interested in learning more about wealth management, give us a call today.