Over the years it’s pretty common to hear the question, “what does comprehensive or holistic mean” with respect to financial planning. It’s a solid question. Many people call themselves financial advisors but in reality, they are simply salespeople. There is nothing wrong with being a salesperson. We buy cars and mattresses from well-qualified salespeople. However, we do not entrust our retirement plans and our most important financial decisions, often with significant tax consequences, to salespeople. For a financial salesperson, the scope of their practice is often limited to one particular aspect of financial planning they can directly service or sell, e.g. investments, stocks/bonds OR insurance/risk management. We’re going to provide a brief introduction to not only what it means to be a holistic wealth advisor, but also the 13 Wealth Management Issues most consistently impacting our clients and their families. In this and upcoming posts, the focus will be each of the respective issues in order.

13 Wealth Management Issues EVERY Client Should Expect their Wealth Advisor to Cover

Introduction to our Wealth Management Issues Series

As comprehensive Wealth Advisors, it’s our belief that having separate conversations about subjects simply isn’t effective from a planning perspective. Rather, it’s critical to integrate all the key wealth management issues into one holistic dialogue addressing every clients’ unique goals and objectives without regard for our ability to “sell” you something. Helping our clients’ spot financial issues that may negatively impact them and then helping them understand how these issues will ultimately impact other interrelated personal and financial goals is the cornerstone of our advisory practice.

This being the case, let’s introduce those 13 Wealth Management Issues which most consistently impact our clients and their families:

• Investment Planning
• Risk Management & Insurance Planning
• Banking & Credit Management
• Retirement Planning
• Executive Compensation
• Business Succession Planning
• Planning for Incapacity
• Education & Family Support
• Charitable/Philanthropic Giving
• Titling & Beneficiary Designations
• Executor & Trustee Selection
• Distribution of Estate
• Tax Planning
• Cryptocurrency

When considering these issues, it’s important to ask yourself, how do any of these affect you, your family, and your goals? The following installments will cover each of these Wealth Management Issues in greater detail. Our hope is this series of chapters will provide not only an educational forum but also promote thought, leading to action…in a holistic manner, of course. Learn about our other 13 Wealth Management Issues here.

Watch our Whiskey & Wealth Wednesday video of this article:

If you would like to learn more about this subject please contact us and we’ll be happy to help.

By Anthony C. Williams, CWS, ChFC, MRFC, CLU | Investment Advisor Representative | President & Founding Partner of Mosaic Financial Associates & Orthopaedist Advisory Group | Securities and advisory services offered through Cetera Advisors LLC, Member FINRA/SIPC, a broker/dealer and a Registered Investment Advisor. Cetera is under separate ownership from any other named entity.