Seeking a trusted wealth manager?

Finding a good wealth manager could mean financial stability for multiple generations and may be one of the most important decisions you’ll ever make.

Choosing the right wealth manager is not a decision to be taken lightly. Find a team you feel comfortable with and one you trust will put your interests first. A team that will develop an effective investment strategy to meet your financial goals. Here are a few items for you to consider when making a decision:

• Integrity and reputation: The most important characteristic of a great wealth manager is one with integrity. They do what’s best for you. Ask around about their’s a tell-tale sign. Do they make decisions that are in your best interest?

• Educated and accredited: Obviously, they should have passed their securities exams and hold an insurance license. You should check the FINRA and SEC websites to make sure they have no industry complaints.

• Experience: Managing wealth requires a strong understanding of the big picture. A well-rounded wealth manager will consider more than just investments and asset allocation. They will have a cohesive plan for how their investments come together and integrate with your long-term goals.

• Leveraging expertise: How does your wealth manager access expertise that pertains to your case? Is their team deep enough to service all of your needs?

• How they invest your wealth: Is it only stocks, bonds and cash? If so, you may want to explore the idea of using someone with institutional asset-management availability. Reaching your financial goals while incurring the least amount of risk and tax impact is optimal.

• Family matters: Will your advisor work with you, your parents, children and grandchildren to incorporate strategies that optimize the wealth for your entire family? This is especially useful as it pertains to avoiding complications with diminished capacity. This is quickly becoming one of the biggest hurdles for managing family wealth.

• Chemistry: After interviewing a few good teams, you should hire the wealth management team you have the best chemistry with, the team you trust the most to look out for you and the one you feel will take the time to do the work. Ask yourself, are you an ideal client for them? It’s good to know you fit well with clients they tend to work with.

• Business model: Do they have a process containing checks and balances to take you through all of the steps and stages required to manage every angle of your wealth? A good wealth manager will have a tried and true process on how to work with every client.

• Communication: How often will you see or hear from your wealth manager and do they communicate in a fashion you understand and comprehend? Do they ask you questions about all complexities of your case? Do they completely understand what it is you’re looking for?

• Conviction: You must work with a wealth manager who is confident and convicted in their advice.

Contact us to learn more about how we can help you reach your financial goals.