Wealth Management

What services are provided?

Many firms call their services wealth management but really only provide investment management with some window dressing. That may be what you seek. But if what you require is wealth management defined as integrated financial planning, of which investment planning is just one important component, you will want to dive deeper. Wealth management should also include retirement, estate, income tax, corporate executive, business succession, and insurance/risk management planning. If these are services you require, be sure your advisor has the professional skills and experience to provide them.

How are those services administered?

Ask to see sample output such as sample investment update reports and cash flow pro forma that are critical to making investment, retirement, estate, and tax planning decisions. Ask about the frequency of reporting and contact. Additionally, ask who will be on your service team, so you are assured that you can always speak to professional staff members who are intimately familiar with your affairs.

Will the Investment Planning and Reporting consider assets not held (custodied) or directly managed by the firm?

Do they consider and report on investment assets, which are held or managed by other firms – for instance in your retirement plan? In order to properly allocate a client’s portfolio for optimum outcomes, all assets must be considered as a whole.