Wealth Management & Investment Planning Financial Advice

Managing the finances of high net worth family or individual can be a daunting task. The reason being that there are plenty of funds and they need to be invested in a safe secure manner. For this a complete understanding of the market is essential.

Unfortunately, affluent individuals lack the time to keep themselves updated with the ups and downs of the stock market. Also, many are not aware of the nitty-gritty of the complex financial world. Hence they require the help of someone who is knowledgeable in the field.

Fortunately, wealth management and investment planning has developed as a specialized field. There are wealth managers who are qualified and experienced in the field of finance. They can guide their clients to invest in a secure manner.

What is wealth management?

Wealth management can be understood as a service that encompasses different aspects of an individual’s financial life. It includes professional advice for financial management, investments and tax services, retirement planning, legal planning, etc. A wealth manager is also responsible for estate planning, philanthropic counseling, etc.

A wealth manager works with accountants, insurance agents, client’s attorney, and other financial experts to plan the investment portfolio of his client.

How does a wealth manager provide these services?

The aim of a wealth manager is to maintain and enhance the wealth of his clients. He is responsible for planning for the individual’s current and future financial needs. Besides being an expert in his area, he will need to understand his client’s needs to plan his portfolio.

So, a wealth manager spends sufficient to time to understand the financial goals of his client. While planning the portfolio, he has to understand the client’s attitude towards risk. The reason for this is that while some clients are ready to take risks, some others are aversive to it. Based on the temperament, he can suggest secure or speculative investments. The wealth manager should also base the investment portfolio bearing in mind the horizon the client is looking at.

After considering all these factors the portfolio of the client is planned. The financial portfolio should be such that it can be altered according to the changing needs of the client and the fluctuations in the market.

In order to accomplish this, the wealth manager needs to have regular meetings with his clients. He can update the client about the market and tweak the portfolio if required.

Greg Silberman is a leading financial advisor in Georgia, Atlanta. He helps his clients manage their savings and investments to meet their financial goals. His advice his offers client oriented and is based on the market trends.