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Wealth Management 

 August 19, 2020

John f. wasik

investment author, "thinking beyond money in retirement"

You can't be nimble with life decisions if you're constantly worried that market volatility will blister your investments. That's why it's important to thoroughly vet your portfolio, estate plan, and cash needs.


What is wealth management?

Wealth management is about having a life well lived and a legacy well left. 

Wealth opens up possibilities for personal realization and fulfillment—but only if it’s managed according to your values, life philosophy, and family priorities.


When it comes to comprehensive financial planning, nothing is simple. Mistakes, no matter how small, can cascade into a frustrating and messy financial situation. It’s all too common to hear stories about overspending and undersaving, being too cavalier about investing, or investing too conservatively for long-term goals. 

No two people share the same financial fingerprint. When you take into account the myriad factors like:

  • The cost of your lifestyle
  • How and when you’d like to retire
  • What sort of legacy you want to provide
  • Your level of wealth
  • The different assets that make up your portfolio

It’s easy to see why it’s necessary to develop a personalized wealth plan.

The best way to arrive at a truly comprehensive and well-informed plan for managing your unique portfolio? Hire a Wealth Manager. 

Did you know?

Experienced Wealth Managers have the benefit of years of academic training and wide-range exposure. We are well-versed in areas such as:

  • Investment research and management
  • Tax-advantaged retirement accounts
  • Cash-free management
  • Tax-free and tax-deferred investing
  • And much more

We’ve seen all sorts of unique financial situations, which makes us well-equipped to take on your portfolio.

Why should you see a wealth manager?

  • Maintaining and growing wealth is just as difficult as acquiring it in the first place.
    Letting your money sit in a bank account is akin to leaving money on the table. Especially if you have significant wealth, there are serious gains to be had by investing intelligently.
  • Insulate yourself from the risk of making emotional financial decisions.
    Decisions should be based on calculated foresight, not emotion. When your portfolio isn’t performing well, sudden market changes for the worse can be unnerving. However, a disciplined, steadfast approach to investing—and making the right investment decisions in the first place—are what lead to long-term success.
  • Make the most of a sudden windfall.
    Sudden wealth can derail even the most prudent people. Inheriting a lot of money can be overwhelming, and there are plenty of tax and legal pitfalls that can trip you up. There is a reason why many lottery winners end up broke and worse off than before they won!

Mastering the financial landscape can feel like a complex, if not impossible task. It's clear why high earners prefer to outsource their money management responsibilities and the stress that comes with it.

You may consider hiring a Wealth Manager if...

  • You value expert advice and understand why Fiduciary Financial Advisors put your interests before their own.
  • You understand the benefit of having a Financial Coach who helps you stay on track to meet your long-term financial goals.
  • You learned that it’s almost impossible to keep up with the ever-changing financial landscape.
  • You’re tired of the stress of the ups and downs of investment research and management.
  • You wish to protect your retirement and legacy using sophisticated investment, tax planning, and wealth preservation strategies.


Finally, it merits attention that the financial world has done a very good job of confusing the public lots of of ambiguous professional titles.

As you explore your options for wealth management, you may come across financial advisors, financial planners, brokers, investment advisors, stockbrokers, wealth managers, and agents. 

For simplicity's sake, we'll split these financial professionals into two categories: Broker and Advisor.

Broker vs. Advisor: What's the difference?

When trying to identify just the right person for your specific financial need, stick to this general starting point:

  • Broker works for an investment firm, and persuades you to buy or sell stocks, bonds, mutual funds, ETFs, and other financial productsThey typically focus on a small component of your financial life. Brokers are not fiduciaries. 
  • An Advisor takes a comprehensive view of your financial past, present, and future. Some, but not all, Advisors are fiduciaries.


Bonus tip: A Fiduciary Advisor is required to always put his/her client’s interests first.

As Fiduciary Advisors, we're legally obligated to act in your best interest. Fiduciary Advisors generally charge a flat fee. Because of the compensation structure, Advisors are seen as having fewer conflicts of interest than brokers.


What's the value in wealth management services?

Wealth Management is the highest, most comprehensive level of financial planning services.

If you value the following:

  • Avoiding hindsight bias, overconfidence, and regret
  • A long-term relationship built on trust, a thorough knowledge of your financial history and goals, and strategies built to meet your unique needs
  • Face-to-face interactions, saving you the frustration of the nameless, faceless robo-advisors or 1-800 advisors
  • Professional investment guidance from an experienced Fiduciary Investment Advisor
  • An efficient way to access objective, relevant, and pertinent financial information.


Then having a trusted and competent Wealth Manager on your side can make all the difference between achieving your financial vision or falling short

Your Wealth Manager will help you invest for growth and protection by:

  • Conducting ongoing in-depth reviews of your overall financial situation
  • Taking the time to understand all your assets and liabilities
  • Optimizing the health of your long-term investing strategies for retirement, investment management, and family wealth
  • Helping you define and prioritize your financial goals, objectives, and preferences
  • Recommending complex strategies—debt reduction, tax minimization, business efficiency, estate maximization, and more—that encompass your complete financial life
  • Setting your plan in motion with the appropriate accounts and funding decisions
  • Helping you provide for the people who matter most to you


Prosperity Financial Group Wealth Planning Services


No matter how much you have in your portfolio, it’s important to optimize every dollar so that you can make the most of your hard-earned assets. There are many ways to maximize your wealth, and at Prosperity Financial Group, we specialize in making your money grow.

Book your complimentary consultation

Having a Wealth Manager on your team means you can worry less and enjoy life more.


Get in touch today to start the conversation!


Our Fingerprint Financial Planning™ Process

Prosperity Financial Group Fingerprint Financial Planning

No two people have the same financial goals; everyone’s financial goals are as unique as your fingerprint. We also believe that If It's Money, It's Personal™. 

Our proprietary Fingerprint Financial Planning™ process allows us to:

  • Discover your goals, deals, and aspirations
  • Gather information about your current financial condition and situation
  • Build a plan that integrates your objectives with advanced financial tools and strategies
  • Establish time frames and implement your personalized plan
  • Confirm, review, and meet on a regular basis


That's why, when you choose to work with us, you’re choosing to work with a trusted partner who can help provide the clarity you need. Every aspect of your wealth plan is informed by your unique situation and filtered through personalized tax strategies and risk mitigation measures.

Our experienced advisors will define your present Financial Fingerprint™ before incorporating the spectrum of financial disciplines to make sure you’re on track to meet your future lifestyle vision. You’ll be connected to our wide range of expertise in areas like:


We Can Help

Wealth management is crucial to achieving lasting prosperity. It’s how you’ll…

  • Meet your financial goals
  • Provide for your loved ones now and in the future
  • Grow your wealth for generations to come


Whether your wealth is destined for your family or for philanthropy, we'll help you design a wealth protection plan so that you can support the people and causes you care most about.

To learn more about how our Fingerprint Financial Planning™ process helps you grow, protect, and preserve your wealth at every stage of life, please fill out the form below and we'll get back to you shortly. We look forward to hearing from you.


DISCLAIMER: Advisory Services offered through Prosperity Financial Group, Inc., an Independent Registered Investment Advisor. Securities offered through Fortune Financial Services, Inc. Member FINRA/SIPC. Prosperity Financial Group, Inc. and Fortune Financial Services, Inc. are separate entities.


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