Courtesy Morgan Stanley
By David L. Cumming
The new year is a time of reflection and resolutions. For many of us, it’s an opportunity to make a fresh start. Whatever your approach, it’s the perfect time to think about what you can do to make the best use of the wealth you’ve worked so diligently to earn.
You have unique goals, and your wealth management strategy should be designed to reflect the specific aspirations you have for yourself and your family. It should also go beyond just creating a portfolio to help you plan for retirement and other life priorities, such as saving for your child’s education or leaving a meaningful legacy.
The evolution of wealth management.
Over the past 30 years, the wealth management industry has evolved. The role of the Financial Advisor has transformed from stock broker to caretaker of their clients’ financial lives.
Today, wealth management is a high-level professional service that goes beyond just investment advice to encompass every part of your financial life. Rather than trying to piece together advice from a series of professional advisors, you benefit from a holistic approach where a single financial advisor or team of financial advisors coordinates all the services needed to manage your wealth and plan for your current and future financial needs.