wealth management puzzle

Several months ago we bought some baseball caps to give away with our company name and logo on them. On the weekends I usually wear mine on one of my weekly visits to Lowe’s, McCoy’s or Home Depot, or down in Rockport fishing. I’m constantly asked, and I quote, “What is Wealth Management?” CIS staff members are getting the same question when they wear their caps. It is not a simple answer. Wealth Management cannot easily be defined in just one sentence because it is so complex.

Here are several ways some of the staff summarize it:

“Wealth Management is the process of coordinating and consulting with a holistic look at a person’s financial needs.”

“Wealth Management is a combination of personal investing, financial advice, and planning in the present with the future in mind.”

“Wealth Management is a professional service which is the combination of financial/investment advice, accounting/tax services, and legal/estate planning.”

My personal definition:

“It is the sum of all the financial pieces of a person’s life working together in harmony – financial planning, investments, banking services, retirement planning, tax planning, risk management, insurance services, estate planning, multi-generational planning and planned giving.”

What a wealth manager does:

The wealth manager acts as the main trusted financial advisor for coordinating the complete team of financial service professionals to act for the benefit of the client as needed. This qualified and experienced team can consist of a CPA, attorney, institutional investment managers, a certified financial planner, a qualified insurance and risk management professional, a bookkeeper, an experienced banker and a planned giving specialist for philanthropic causes. The family hires the trusted wealth manager to handle all their financial affairs for their benefit so they can pursue what they are passionate about – their life dreams, goals and gifts. Examples include business owners, CEO’s of large companies, surgeons, physicians, athletes, entertainers, and entrepreneurs who have neither the time nor the ability to coordinate all the members of a qualified financial team. A qualified trusted wealth manager and their team of advisors will more than financially pay for themselves through good management of resources and planning. I’ve seen firsthand many times that the savings from using a qualified financial team are more than the cost of their services.

Do you fall into the category of needing a trusted wealth manager and team so you can pursue your special talents, gifts and passions? For a no obligation phone, online or in person appointment to learn more, call 830-609-6986 or email: info@ciswealth.com