Table of Contents
What is Wealth Management?
Wealth management is about having a life well lived and a legacy well left.
This begins with establishing financial goals for you and your family.
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.
Wealth opens up possibilities for personal realization and fulfillment—but only if it’s managed according to your values, life philosophy, and family priorities.
If you’ve ever tried to create your own wealth management plan, you’ve probably realized that most of the advice fails to align closely with your situation. You may have become frustrated with the lack of curated insights, and perhaps, that’s the reason why you began searching for a Wealth Management Firm, someone you can trust!
That’s because 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.
Experienced Wealth Managers have the benefit of years of academic training and wide-range exposure. We’re 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.
We’ll help you secure a prosperous financial future through an ongoing collaborative process with your trusted Fiduciary Financial Advisor.
Why Should You See a Wealth Manager?
Maintaining and growing wealth is just as difficult as acquiring it in the first place. Most people are aware that letting your money sit in a bank account is akin to leaving money on the table. Especially for those with significant amounts of wealth, there are serious gains to be had by investing intelligently. It’s not about being conservative or aggressive, but rather about being smart and personal.
One of the biggest mistakes that you can make as an inexperienced investor is engaging in impulsive financial decision-making. It’s all too easy to make rash decisions based on emotion rather than on calculated foresight. It’s to be expected; when your portfolio isn’t performing well, and the stock market is notoriously unstable, sudden 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. Asset Allocation and long-term thinking work the best.
Another common tricky financial situation is dealing with sudden wealth. A financial windfall can derail even the most prudent people. Oftentimes, this can lead the beneficiary to descend into the lifestyle inflation trap. 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 than before they won.
Mastering the financial landscape can feel like a complex, if not impossible task. Many people would prefer to outsource their money management responsibilities and the stress that comes with it. That’s why most high net worth individuals turn to Finance Professionals to help manage their nest egg.
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 close relationship with a Fiduciary Financial Advisor who can maintain Financial Goals for you and your family.
- 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 desire a Financial Advisor to review the results and processes with you often.
- You are at your best while doing what you do best.
- It’s of paramount importance to have a Fiduciary Financial Advisor keeping you on track to meet your long-term financial goals.
- Your life and family savings deserve a Professional Team of Advisors watching your money every day and communicating information back to you in a timely manner.
It merits attention that the financial world has done a very good job of confusing the public with a multitude 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. Luckily, we can simplify these professionals into two categories: advisor and broker.
What’s the Difference Between a Wealth Advisor and a Broker?
When trying to identify just the right person for your specific financial need, stick to this general starting point: a Broker typically focuses on a small component of your financial life, whereas a Wealth Advisor takes a comprehensive view of your financial past, present, and future. And a Fiduciary Financial Advisor is required to always put his/her client’s interests first.
As Fiduciary Advisors, we are legally obligated to act in your best interest. Fiduciary Advisors usually charge a flat fee. Because of the compensation structure, advisors are seen as having fewer conflicts of interest than brokers.
A Broker is a professional working for an investment firm, who persuades you to buy or sell stocks, bonds, mutual funds, ETFs, and other financial products. Brokers are not fiduciaries.
Are Wealth Management Services Worth It?
Wealth Management is the highest, most comprehensive level of financial planning services. If you value the following:
- 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
- Avoiding hindsight bias, overconfidence, and regret avoidance
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 debt reduction strategies, tax minimization strategies, business efficiency strategies, estate maximization, and other complex strategies 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
For the business owner, retiree, or high-income earner, it’s a smart move to seek the professional assistance of a Fiduciary Wealth Manager. You may be surprised at the affordability and the benefits that this relationship can yield to the safety and security of your personal finances.
The right investment decisions, portfolio construction, asset management, retirement planning, and estate planning are just a few of the things that comprise intelligent wealth management. There are many ways to maximize your wealth, and at Prosperity Financial Group, we specialize in making your money grow.
That’s why having a holistic plan—one that integrates your tax, retirement, investment, estate, and cash flow planning—is key to managing your financial portfolio. A comprehensive financial plan gives clarity about your target investment returns to achieve your financial vision. 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. That way, each new decision you make serves to strengthen your financial picture with every passing year.
Our Fingerprint Financial Planning™ Process
That’s why we use our proprietary Fingerprint Financial Planning™ process 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
We believe that If It’s Money, It’s Personal™. 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
Our broad and deep expertise of wealth planning allows us to tailor recommendations to achieve your specific objectives. 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 our Fingerprint Financial Planning™ process so that we can help 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.