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What is Wealth Management?
Wealth management is the process by which professional services are combined to include financial and investment advice, asset management, accounting and tax services, legal and estate planning, asset protection, debt management, and risk analysis. Wealth management also includes the articulation and understanding of the dreams, hopes, and goals you want to fulfill with your wealth; it also focuses on protecting and distributing your assets, both during your lifetime and after your death.
The best financial decisions are those made in consideration of one's total financial picture. For true wealth management to succeed, there needs to be leadership and guidance to bring together all of the previously mentioned services, so they work in unison to accomplish the wealth management process.
My goal in forming Spectrum Wealth Management was to provide a truly integrated wealth management firm that would provide first class financial leadership to meet all of our clients’ wealth and financial needs. We consider all aspects of what it takes to meet goals, as well as accumulating and protecting the build up of our client's assets. By selecting our firm as their financial coach, our clientele is allowed the time needed to fulfill their dreams and further their successes.
In order to meet this goal, I analyzed and evaluated what is required to provide true wealth management. I concluded that a team of experts in each specialized field needed to be assembled and organized to work efficiently together in understanding and fulfilling the goals and visions of our clients. It was critical to make sure this team of experts had a good working relationship with each other; in addition, it was crucial to me that that they had a strong, on going relationship with the client for the long term process of overseeing the results of the wealth management plan.
True wealth management, in my opinion, can only be achieved from this strict alliance; it can only be met by offering these integrated services from a team of professionals within the same domain. While it is possible to form a group of individual advisers to work together, it is too difficult and inefficient to coordinate a tax accountant, investment manager, financial advisor, attorney, insurance person, mortgage broker and banker on a recurring and on-going basis. There may be good intentions in the beginning, but this can become an unorganized and uncoordinated effort. For the client, managing these providers and coordinating their advice is often difficult, confusing, and time consuming. It may cost a tremendous amount of money and the results will be poor due to the lack of long term coordination, management and adjustments to the plan. Spectrum Wealth Management brings together the advantage of a highly-skilled team of professionals from all of the above-mentioned fields. Our clients save time and money by investing through our uniquely tailored firm.
Also important to consider is the ability to access and analyze the overall financial condition and the risks associated with your finances. With a hands-on approach, you are able to develop a strategic path in line with your goals. I evaluated this process and did not like the fact that most financial planners prepare a financial plan that is static; they almost immediately become obsolete and difficult to maintain. With this mentality, soon your investment becomes a printout of the past without accountability of the progress and changes necessary with financial plans. Our wealth management system is designed to overcome the complacency and stagnation that can take place once the initial plan is determined.
I think as you tour our website you will find Spectrum Wealth Management has the discipline to achieve true wealth management for you. With our team of highly regarded professional advisors, you can trust and feel confident in knowing your finances are being well looked after.