Wealth Management is the systematic process of building wealth and protecting / preserving it. It involves expertise in: financial planning, investment management, insurance, tax management, and estate planning. The ideal candidate organization for wealth enhancement service is as interested in preserving hard-earned wealth as with growing it.
Because there have been less than favorable press associated with stock brokers, many wealth management companies are merely a re-labeled stock brokerage. Typically stock brokers have a reduced scope and talent set than those providing wealth management services.
Since many of the so-called certifications in this industry don’t amount to much, investors are left at a disadvantage when selecting advisors. What is most important is an understanding of these points:
- Will the person you are considering hiring sign a statement disclosing any conflicts of interest and stating they will always act in your best interest / as a Fiduciary? If the answer is anything but yes, please move on.
- 2007 – 2009 saw the worst stock market crash since the 1930s. How did the person/company manage to preserve client wealth during this period? Did they force their clients to hold on to their existing investments and suffer massive volatility, or did they take action to mitigate losses and preserve capital?
- What charges will you incur from the advisor, the investment or insurance company, the custodian, and any other parties?
- What will you get in return for these charges? Will their services begin and end at selling you a product? Or, will they help you with ongoing portfolio monitoring, business planning, tax planning, estate planning, and other financial planning needs?
Want to learn more?
You can view our Form ADV Part 2 brochure and our Investment Management Agreement on this website. These documents explain our fees and services in detail and are located at the bottom of this page along with our contact information. Call or email us with any questions.
Ready to meet?
We understand you have a hectic schedule. Our meeting times and locations are extremely flexible. We do house calls. We do lunch and dinner meetings. Just call us and we will work it out.
At our first meeting, we want to get to know each other and to assess your situation, needs, and goals. (It is helpful for you to bring information regarding your current financial picture such as tax returns, account statements, estate planning documents. If you do not have these documents available, we will have to work with what you know.) Once we have developed a plan that you are comfortable with, our team will help walk you through the paperwork and answer any questions you might have.