Wealth Management

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The only question with wealth is what do you do with it?

John D. Rockefeller

If we command our wealth, we shall be rich and free; if our wealth commands us, we are poor indeed.

Edmund Burke

Wealth Management

Wealth Management is a process that involves more than just managing your investments. It encompasses a broad range of financial, legal, tax and consulting services. It includes a comprehensive, integrated game plan for those who are beginning to focus on the second half of their lives as they move through the Wealth Cycle from the Accumulation phase to the maturing stages of Consolidation, Asset Protection, Income Distribution and Wealth Transfer. Many financial advisors coach you how to accumulate and grow assets. This process is frequently characterized by the philosophy “he who has the most toys wins.” However, a true Wealth Manager develops a much broader perspective over years of retirement coaching experience. Their focus goes beyond an all-in focus on growth to include preserving and protecting your assets, converting retirement assets into protected retirement income and transitioning residual estate assets in a tax efficient manner to future generations and charitable causes.

Many firms today are advertising a “Wealth Management” service. However for affluent families and business owners, Wealth Management requires a high level of sophistication and complexity that most firms or individual advisors are simply unequipped to provide. Cornerstone Wealth Advisors, Inc. has the experience and expertise to orchestrate this process and will assemble the necessary proven and qualified subject matter experts to deliver an authentic and satisfying Wealth Management experience to its clients.

The most powerful differentiator is the Wealth Management Firm’s ability to develop an integrated comprehensive game plan and implement it. It doesn’t matter whether separate components of the plan are implemented through the Wealth Management Firm, one of their strategic partners or one of the client’s existing professional advisors. What matters is whether a well-designed, comprehensive game plan is created and the coaching ability is available (that means experience) within the Wealth Management firm to drive the process forward. Driving a group of professional egos to achieve a common goal is sometimes like herding cats! Without a good experienced coach, the best game plan in history will never get implemented.

In essence, a good Wealth Management firm will help their clients define what is most important to them, what are their overall financial objectives, and the timeframe in which they want to accomplish them, from both a professional and personal perspective. Then, they help develop a comprehensive and integrated game plan, but more importantly, implement the plan, with the client being the owner of the plan and the Wealth Management firm taking the role as the “coach” or “team leader.”

Today’s affluent individuals need an integrated, comprehensive Wealth Management approach. They may work with different advisors as subject matter experts, but they need a coach on the team to orchestrate the process. A good Wealth Management firm delivers a consultative and integrative approach compared to most traditional wire house or large regional firm advisors who tend not to have the breadth of experience to pull it off, leaving it to you to pull it all together.