Wealth Management’s objective is to give you peace of mind knowing your investments, taxes, insurance and estate plans are working together to enhance your well being, allowing you to devote more time to your family, business and personal endeavors.
Wealth Management includes the following processes:
Retirement Planning – Assess your readiness for retirement by making a realistic assessment of what you will need when you are no longer working and consider the special issues you might face before and during your retirement.
Tax Planning – Optimize and coordinate investment strategies to minimize the tax impact of growth and accumulation.
Portfolio Management – Deploy disciplined investment strategies to grow your wealth while successfully managing risk.
Insurance and Risk Management – Identify the risks that could derail your financial goals and then seek to transfer those risks to insurance companies when appropriate. Some of the more common risk transfer methods include life insurance, auto insurance, homeowners insurance, disability insurance and longevity insurance (preventing you from outliving your money).
Estate Planning – Consider what you would like to achieve with the assets you’ve accumulated over your lifetime and how to soften the impact of your death on those you leave behind. Another objective is to minimize the estate tax burden by utilizing various estate planning devises to ensure that the maximum transfer of wealth to the next generation is achieved.
Why should you take a comprehensive approach to financial planning?
The reason is that these individual areas of personal finance (investments, taxes, insurance and estate planning) all affect each other in some manner, either adversely or beneficially. The same could be said regarding medicine — would you allow a doctor to prescribe medication without undertaking a thorough assessment of how one medication may react to other prescribed medications?
Wealth Management is not a one-time solution to achieving financial goals; instead, it is a dynamic process. Therefore, investors should have the mindset of patience, discipline and consistency to achieve their goals with maximum success. Personal situations and objectives change over time, so we must periodically assess your progress in reaching your goals and making adjustments as needed.