What is Wealth Management?

Wealth management can be loosely defined as a consultative service designed to help clients protect and grow their net worth. A good wealth manager is familiar with the full range of financial services products available on the market, and is able to tailor his or her recommendations to each client’s existing and projected financial picture, needs, and goals.

Why Financial Advice Apps Aren’t Enough

As a way to save money or start investing for the first time, some people have opted to use financial advice apps on their smartphone or tablet instead of working with a professional financial advisor. While a financial advice app can be a good supplementary advice, it can’t replace the value of working with a professional and experienced financial advisor. Here are some of the ways that a financial advice app fails to live up to the real thing.

Financial Planning for Young Adults

Financial planning services are important for young adults, whether they plan on going to college or entering the workforce for the first time. From knowing how much to contribute to your employer matched 401(k) to determining the right amount of money to save for a down payment on a house or car, financial planning services can help young adults have bright financial futures. Here are some of the ways that financial planning can help.

4 Life Events Financial Advisors Help With

There are certain times in your life when you’re more likely to reach out to a financial advisor. However, it’s beneficial to have a financial advisor to help you no matter which phase of life you’re in. Here are four life events your financial advisor can help you with.

Traits to Look for in a Financial Advisor

When it comes to choosing a financial advisor, two firms might seem the same on paper. Perhaps both financial advisors hold similar credentials or claim to have the same perspective on investing. However, choosing the right financial advisor consists of more than just identifying their credentials. You should find someone that has the right personality to be a good financial advisor. Here are some traits to look for.

What Can Happen if You Don’t Save Enough Retirement Money

There are three important aspects of your retirement plan: what you’ve personally saved and invested, employer contributions and pension plans, and social security. With the future of both employer-sponsored retirement plans and social security in question, the burden of saving for retirement largely falls on you as the retiree. If you are stuck between making a frivolous purchase or investing in your retirement account, consider what can happen if you don’t save enough money for retirement.

The Role of Financial Advisors in Family Finances

Financial advisors are not just for the ultra wealthy. Financial advisors can help everyday families in numerous ways, from saving for retirement to general financial advice. Here are some of the ways that a trusted financial advisor can help with your family finances.

Wealth Management for $5 Million: How to Choose the Right Advisor

With a net worth of $5 million or more, you are probably familiar with the basics of wealth management. You know that you need a diverse portfolio, estate planning assistance, and careful guidance as you make the financial decisions that could have a long-lasting effect on you and your family. However, you may still be searching for just the right advisor. Here’s what to look for.

Wealth Management for $10 Million: Planning Your Legacy

If you have an ultra high net worth of $10 million or more, you probably already understand the basics of wealth management. Yet the bigger your estate, the more critical each decision can be, not only for you but also for your heirs. Take some time with your wealth manager to review and rebalance your portfolio to be sure you are maximizing your investments, and then sit down to create a careful estate plan.

6 Estate Planning Mistakes to Avoid

If you have a high net worth, you probably already know how critical it is to have a fully realized financial plan that you revisit regularly. Yet high net worth individuals are not immune to common wealth management mistakes. Because your portfolio is likely complex, it can be confusing, and you stand to lose quite a lot if you miss certain key factors. Some of the most common mistakes that high net worth people tend to make are in the areas of estate planning.