Getting a wealth manager can be important for individuals who have substantial assets and complex financial situations. A wealth manager is a financial professional who provides personalized advice and services to help you manage and grow your wealth. Here are some reasons why getting a wealth manager might be important:
Expertise and Knowledge: Wealth managers are typically well-educated and experienced professionals with deep knowledge of various financial strategies, investment options, tax planning, estate planning, and more. Their expertise can help you make informed decisions tailored to your financial goals.
Personalized Financial Planning: A wealth manager takes the time to understand your unique financial situation, goals, risk tolerance, and preferences. They can create a customized financial plan that aligns with your objectives and guides your investment and financial decisions.
Diversification and Investment Strategies: Wealth managers can help you diversify your investment portfolio to manage risk and potentially enhance returns. They have access to a wide range of investment opportunities that may not be readily available to individual investors.
Risk Management: Managing risk is a crucial aspect of wealth management. A skilled wealth manager can help you assess and manage risks associated with your investments, as well as provide strategies to protect your assets from unforeseen events.
Tax Efficiency: Wealth managers often have a strong understanding of tax laws and regulations. They can help you structure your investments and financial transactions in a way that minimizes your tax liability, potentially leading to increased after-tax returns.
Estate Planning: If you have significant assets, estate planning becomes essential. A wealth manager can work with you to create an estate plan that ensures your assets are distributed according to your wishes and minimizes the tax implications for your heirs.
Time Savings: Managing wealth can be time-consuming and complex. By delegating the financial intricacies to a wealth manager, you free up your time to focus on other important aspects of your life.
Emotional Discipline: During times of market volatility or economic uncertainty, emotions can drive impulsive investment decisions. A wealth manager can provide an objective perspective, helping you stay disciplined and avoid making rash choices.
Regular Monitoring and Adjustments: Wealth managers continually monitor your financial situation and investment performance. They can make necessary adjustments to your strategy as market conditions change or your goals evolve.
Access to Networks: Wealth managers often have access to a network of professionals, including tax experts, attorneys, and other specialists, which can be valuable in addressing various financial needs.
It's important to note that while wealth managers can offer many benefits, they also come with costs, including fees for their services.
Ultimately, the decision to hire a wealth manager depends on your individual financial situation, goals, and preferences. If you have complex financial needs, a substantial portfolio, and limited time or expertise to manage your wealth effectively, a wealth manager could be a valuable addition to your financial team.
Basic checklist for hiring your Certified Wealth Manager:
Is he/she an internationally certified Wealth manager?
Is he/she Licensed by the Government?
Is he/she accredited by a Financial Institution?
Is he/she has enough experience in the field?
Is he/she an expert in other financial aspects?
What to watch for:
Agents/Advisors pretending to be Wealth Managers
No International Certification, Accreditations and Training
No License or Limited license that focuses mostly on basic planning
Not enough experience in the field
Commission based agents
In Summary, Wealth management is important in supporting your growth. Having your own Finance department to watch your finances and maintain your lifestyle is important in building your wealth.
Apply for a Wealth Management service with SJ&P today.
Starts at Php 2.5 Million Cash Investment.
Consider your benefits
International Certified and Licensed Financial Planner
Access to a wide range of Financial professionals
Access to SJ&P Financial Planning Software
Access to SJ&P VIP Client Portal
Access to a wide range of financial products available only for VIP Clients
Up to date Cash Management Planning
Up to date Net Worth Monitoring
Financial Forecasting
*Optional Concierge Service
Other VIP Services
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