What is Wealth Management?
In a nutshell it is about planning: planning the financial future of your family. More than just investing properly for the future, it is about coordinating all the advice from your investment, legal, tax, insurance and real estate experts.
Traditionally, each individual advisor has offered their advice separately. In most cases leaving gaps in the implementation and eventual outcomes of the planning process. Gaps that might be expensive in the long run.
Proper wealth management coordinates the efforts of all the advisors so that the process is streamlined and "gap-free".
So, perhaps you've sold your business...you have now a significant amount of money that needs to be managed. You worked hard to build your wealth, you likely want to protect it so that you can enjoy the comfortable lifestyle to which you have become accustomed.Equally as likely you would like to keep some or all of your wealth to pass on to future generations and perhaps give to a charity that is important to you.
You will need investment advice to properly diversify your assets to protect them from risk. You will want to ensure that you are maximizing tax efficiency. You will want to know that your Estate is structured according to your wishes.
Most importantly, you want to make sure that the process is coordinated. Hire an experienced wealth manager, spend a little money to ensure confidence, peace of mind and financial freedom.
About Me
- Private Family Wealth Management
- Prior to joining High Rock Capital Management, I spent 15 years as a Vice President, Senior Investment Advisor, Portfolio Manager and Branch Manager at several Canadian Investment Dealers and as a partner in the Turner Tomenson Wealth Management Group. My main focus was to assist families in assessing and managing their investment risk and ensuring that they were steadily progressing toward their goals. Through the 1980's and 1990's, I spent 20 years as a Vice President, Fixed Income Trader and Risk Manager in both Canada and the United States at leading Banks and Investment Dealers, honing my skills for managing risk. I blend my time between macro research, portfolio management and client service. Most importantly, I am on a mission to bring the public up to date on the very big difference between old school "investment advice" and the more fiduciarily responsible art of portfolio management. I hold a BA in Economics from the University of Western Ontario (1980) and the Chartered Investment Manager designation (2014). I was recently awarded the certificate in Advanced Investment Advice.
My Blog List
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Facing your truth - blindspotting4 years ago
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2 comments:
I think the family wealth manager is the best relationship to have - ten years can fly by and if you do not have some watching the investments and pushing for decisions, opportunities can pass you by.
Great article!
Truly, impressed with these details regarding family wealth management. It’s an important thing to have an annual financial plan if you want to control your expenses. We’ve just got a plan from one of top wealth management group Las Vegas as per our needs.
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