Is a Wealth Management Firm Right for You?

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Sometimes it's beneficial to take a look at the basics to ensure they're still working for you. For high-income earners, like physicians, who aren't utilizing a wealth management firm, here's what you're missing out on.

Sometimes it’s beneficial to take a look at the basics for clients who either never bothered to learn what was being done with their money or for recent graduates who suddenly find themselves with more money than they have ever had before.

High-income earners can really benefit from hiring professionals to look after their money. Wealth management integrates comprehensive financial planning with customized portfolio management in an all-encompassing service to accomplish the long-term financial goals of high-net-worth individuals and their families, charitable foundations and trusts. Financial planning is the process that assesses a client’s current economic condition, and helps them structure realistic long-term financial goals.

Portfolio management provides the means of managing clients’ wealth so they can accomplish those goals while minimizing risks, taxes and expenses along the way.

The objective of the financial planning process is to gather, organize and analyze a client’s existing financial information and create a comprehensive plan that will enable them to achieve their unique goals. The plan must be vigorous enough to accomplish those goals, but flexible enough to meet their changing needs.

Portfolio management is the design, implementation and on-going management of a client’s financial assets. Client benefits include:


• Earning enough money to achieve goals

• Staying in control of financial future

• Reducing the amount of time it takes to manage wealth

• Selecting the investment products that are most likely to achieve goals

• Monitoring investment performance, both risk and return

• Accommodating risk tolerance level and unique constraints

• Eliminating unnecessary investment risks

• Controlling investment expenses

• Effectively managing tax liability

• Coordinating and controlling their trusts and foundations

• Staying abreast of new developments and new investment products

• Updating the investment strategy when it is beneficial for the client to do so