Stages of wealth management

Wealth management is about the recognition of change. As our clients move through the four stages of their investment life: accumulation, preservation, utilization and transfer, they are challenged with differing strategies to accomplish these objectives. It is through a thoughtful evaluation of investment risk and return alternatives that we develop appropriate solutions commensurate with their goals.

Evaluating portfolios on a risk-adjusted basis is a task that continues throughout the four stages, while detailed estate planning strategies generally become a priority in the latter stages of their investment life.

Wealth accumulation — In this stage our clients strive to acquire assets in their retirement accounts, stock options, savings and investment accounts with specific goals in mind.

Wealth preservation — In this stage our clients are in their maximum income years and nearing retirement. Our focus may now include tax-efficient and risk-adjusted strategies designed specifically for retirement income and/ or unexpected family challenges.

Wealth utilization — Generally, our clients are now in this stage of utilizing their wealth to provide for retirement expenses, charitable inclinations and their lifelong dreams. This stage often requires a change in investment discipline with an emphasis on income generation.

Wealth transfer — The prudent investing of the first three phases provides the opportunity to assist our clients on their detailed estate planning goals, which often include charitable gifts, tax-advantaged wealth transfer to heirs utilizing trusts, and numerous other strategies commensurate with their objectives.

Obviously, these phases are intertwined throughout each client’s investment life and the successful transition is a result of our continuous evaluation of life events, risk-adjusted investment disciplines and continuous communication throughout all phases. This is our comprehensive approach to wealth management.