The volume of business data worldwide doubles every 1.2 years according to estimates from Arizona State University. Access to this information is becoming easier and easier with big data applications, investors are armed with more resources than ever. So why would anyone need to hire a wealth management team?
The answer is simple, peace of mind. In today's interconnected global economy, the right path to reaching your goals can often be difficult to see and follow through on. A wealth management team can be a trusted partner throughout your journey, offering value in numerous ways.
Recent Vanguard research proves that working with a financial advisor can add 3 or 4 percentage points of value in net portfolio returns over time. Advisors add value to their client's lifestyle in three elements: portfolio construction, behavioral coaching, and wealth management.
1: Portfolio Construction. A disciplined portfolio construction process can help you meet your goals while striking a balance between risk and return. Each client has different objectives, therefore, before recommending an overall asset allocation and strategy an advisor must complete a comprehensive diagnosis to determine portfolio details. Ascertaining your individual financial situation and investment goals is the first task in constructing a portfolio. Important items to consider is your lifestyle stage, income needs, time horizon and account type. Clarifying your goals and situation will help the advisor provide personalized recommendations that fit you best. My first responsibility is to understand your needs and help you stay invested during all market conditions.
2: Behavioral Coaching. Advisors act as a circuit breaker for clients reactions and eliminate emotional bias in financial markets, we help prevent blunders. Primarily though, behavioral coaching is the practice of helping clients adhere to their financial plan. Working with an advisor not only helps prevent emotionally driven decision-making, it also provides investors with a guide to the investment process. Investors must be engaged in this process and committed to their long-term financial health, particularly because it is easy to be steered off track. Our mission is to earn your loyalty with genuine and accurate advising.
3: Wealth Management. The most obvious value add which is better described than defined, wealth management includes various duties such as regular re-balancing, distribution planning, asset location and cost-effective implementation. Each household benefits from wealth management differently depending on their lifestyle phase and risk appetite. For example, a young family needs a college savings strategy, which account would benefit them most, Coverdell ESA, 529 Plan or UGMA account? Versus, a retiree who needs investment income to live off, they need a spending strategy so they don't outlive their money and a proper estate plan must be in place.
Professional wealth management lets you live the life you earned through ongoing fiduciary advising, our team's recommendations are always in your best interest. A fiduciary is someone who has the legal obligation to do what is right for the other person in the relationship – like a lawyer, doctor, or accountant. We are empowered to offer these services because WE DO NOT have any profit-sharing agreements in place and our advice is completely independent.
You deserve financial peace of mind, my team and I have an unwavering commitment to helping others.