Wealth management is a comprehensive financial service that combines financial planning, investment management, tax planning, estate planning, and other financial services to help individuals and families manage and grow their wealth.
A wealth management company typically offers a range of services, including investment management, retirement planning, tax planning, estate planning, risk management, philanthropic planning, and more. The goal is to provide a holistic approach to managing your financial life.
Wealth management services are often designed for individuals, families, and business owners who have complex financial needs and require personalized financial strategies. However, anyone looking to grow and protect their wealth can benefit from wealth management services.
Financial planning focuses on creating a roadmap for achieving specific financial goals, such as retirement, buying a home, or funding education. Wealth management, on the other hand, is broader and includes financial planning as well as ongoing management of your investments, taxes, estate, and other aspects of your financial life.
A wealth manager provides a comprehensive suite of financial services, often to high-net-worth clients, and typically offers a more holistic approach that includes investment management, tax planning, estate planning, and more. A financial advisor may focus more narrowly on investment management or specific financial advice.
A fiduciary is a person or organization that is legally obligated to act in the best interests of their client. This is important because it means that the wealth manager must prioritize your financial well-being above their own interests or the interests of the company.
Wealth management fees are usually structured as a percentage of the assets under management (AUM). For accounts valued under U.S.$500,000 we charge transaction-based commissions. Accounts valued over U.S.$500,000 are charged management fees, on a graduated scale based on AUM.
Asset allocation is the process of dividing your investment portfolio among different asset classes, such as stocks, bonds, hard assets, and cash, to optimize returns while managing risk. The right asset allocation depends on your risk tolerance, time horizon, and financial goals.
Diversification is an investment strategy that involves spreading your investments across various asset classes and sectors to reduce risk. By diversifying, you can minimize the impact of a poor performance in any one investment on your overall portfolio.
A balanced portfolio is one that includes a mix of asset classes, such as stocks, bonds, and cash, to achieve a balance between risk and return. The goal is to provide growth potential while reducing volatility.
Risk tolerance is determined through a combination of factors, including your financial goals, investment time horizon, and comfort with market fluctuations. We work with you to assess your risk tolerance and develop an investment strategy that aligns with your preferences and needs.
Estate planning involves creating a plan for the distribution of your assets after your death. It’s important because it helps ensure that your wishes are followed, minimizes estate taxes, and provides for your loved ones. Estate planning may include wills, trusts, powers of attorney, and more.
A trust is a legal entity that holds and manages assets on behalf of a beneficiary. Trusts can be used to manage and protect assets, reduce estate taxes, and ensure that your assets are distributed according to your wishes. There are various types of trusts, each serving different purposes.
Tax planning involves analyzing your financial situation and developing strategies to minimize your tax liabilities. This can include taking advantage of tax deductions, credits, and efficient investment strategies. Effective tax planning can help you retain more of your wealth.
Retirement planning is the process of determining your retirement income goals and the actions necessary to achieve them. This includes identifying income sources, estimating expenses, and implementing savings and investment strategies to ensure a comfortable retirement.
Philanthropic planning involves creating a strategy for charitable giving that aligns with your values and financial goals. We can help you establish charitable trusts, donor-advised funds, or private foundations to maximize the impact of your philanthropy while also achieving tax benefits.
Legacy planning involves developing strategies to ensure that your values, wishes, and wealth are passed on to future generations. This may include creating trusts, setting up charitable foundations, or implementing estate planning strategies that reflect your legacy goals.
Wealth management for business owners includes services such as business succession planning, risk management, tax optimization, and investment strategies. We help business owners align their personal and business financial goals, ensuring that their wealth is protected and positioned for growth.
Business succession planning is the process of preparing for the transfer of ownership and management of a business. This may involve identifying successors, developing leadership within the company, and creating a plan to ensure a smooth transition, all while maximizing the value of the business.
To get started with wealth management services at Meta Partners, simply contact us to schedule a consultation. During this initial discussion, we’ll discuss your financial goals, assess your current financial situation, and outline a customized plan to help you achieve your objectives.