Search

Term: Wealth Management

In today's world you need more than investment advice... you need a custom plan!

Wealth management is a service that goes beyond simple investment advice. It is a holistic approach to the financial well-being of an individual or family and applies to all aspects of their life.


This will include traditional financial investment advice, as well as budgeting, cash management, and savings. A good wealth manager will look at the entire situation and be able to suggest plan based on the individual or families’ financial and life goals. This may include retirement planning, education planning, and will be specific to what is important to the individual client.


Wealth management may involve legal services to help structure wills, trusts, and other documents as specified or needed by the plan. A wealth manager will get to know the perspectives and goals of each individual client and helped tailor a plan for them specifically. Wealth managers may act in conjunction with traditional investment brokers or as a secondary form of information and or as a “check” on the information being provided.


Wealth managers are typically paid as a percentage of assets under management if they are also handling the actual investment transactions or by a fee for service typically billed on an hourly basis.


The most important part about selecting a wealth management professional is that they take the time to get to know the clients’ goals are and designing a plan specifically for them.

6 views0 comments

Recent Posts

See All