Trusted Wealth Management Consultants

Trusted wealth management consultants are skilled financial advisors who take a holistic approach to meet the needs of affluent clients. They work with a client to understand their goals and situation, then create an investment strategy that utilizes a variety of products and services to help them achieve those goals. These comprehensive services can include investment management, financial planning, tax services, estate planning, philanthropic advice, and more. Wealth managers can work independently or with a larger firm, such as a private bank. Those who are in the direct employ of an investment firm typically have more knowledge of investment strategies, while those who are in the employ of a large bank may have more expertise with credit options, overall estate planning, or insurance options.

Trusted Wealth Management Consultants: Finding the Right Experts

The term “financial advisor” is a general one that doesn’t have any specific qualifications or regulatory authority attached to it, so make sure you vet potential advisors thoroughly. You want to ensure they have a strong track record and are held to high ethical standards. Also, consider whether you prefer an independent advisor who charges a transparent fee based on assets under management or an advisor who works on commission and earns through the sale of investments.

Some people have complex family situations that require a more hands-on approach from their wealth manager. They might need assistance managing the tax ramifications of a business, for example, or they might have complicated legal issues related to inheritance. For these individuals, you might find it more helpful to work with a wealth management consultant who can coordinate multiple specialists on behalf of a client.