Are you ready to take your financial lifestyle to the next level? Wealth management could be the right choice for you. Here, we're going to explain who could benefit from the resource and what it entails so you can make an educated choice about your financial future.
The Value of Wealth Management
Learn the value of wealth management and what it can do for your financial future.
What is wealth management?
Professional wealth management is a service that focuses on someone's entire financial situation. This means assisting the client in achieving success, whatever that means to them. This could include:
- Investment management.
- Financial planning.
- Tax planning.
- Estate planning.
The wealth manager is a professional who is qualified to offer you advice for some of the more complicated financial decisions.
Because the wealth manager is a knowledgeable professional, they can offer insight and advice to affluent clients who may not know the best financial decision. There are different certifications and degrees that a manager must produce in order to become accredited, depending on the services that they offer. Here are just a few examples:
- Earned value professionals (EVP).
- Certified Public Accountant (CPA).
- Chartered Financial Analyst (CFA).
- Certified Financial Planner (CFP).
- Chartered Financial Consultant (ChFC).
- Registered Investment Advisor (RIA).
Who is wealth management for?
In most cases, wealth management is reserved for those who have a high net worth, as their financial choices can be more complex. A high-net-worth individual (HNWI) is a person who has liquid assets of at least $1 million.
The more money and liquid assets that someone has, the more likely they need wealth management. For those who aren't quite an HNWI yet, a banker or advisor might be able to help them.
Setting goals and achieving success
There are many different types of wealth management companies and organizations that offer wealth management services. However, seeking assistance from your local financial institution can offer a more tailored and personalized experience.
Whether you are interested in finding better ways to invest your money or are working towards retirement and need assistance with this strategy, wealth management can offer a solution. With the advisor, you will set financial goals based on your circumstances and income, as well as what target you're hoping to hit.
For some, the focus will be estate planning, while others need more assistance with tax and accounting services. The professional will help the HNWI set strategies for saving and passing on wealth to generations to come. The capabilities of wealth management are broad and highly individualized.
Working with a wealth manager
Vectra Wealth Management often serves HNWIs that are already established within our banking system. This is based on the success that can be accomplished when financial resources are managed in a coordinated fashion through a single point of contact.
Whether someone needs private banking with specialized services or wealth planning for family and business, our team can offer advice with the full picture in mind. Are you ready to learn more and meet the Vectra Wealth Management team? Reach out today.
Content is offered for informational purposes only and should not be construed as tax, legal, financial or business advice. Please contact a professional about your specific needs and advice. Content may contain trademarks or trade names owned by parties who are not affiliated with Zions Bancorporation, N.A. Use of such marks does not imply any sponsorship by or affiliation with third parties, and Zions Bancorporation, N.A. does not claim any ownership of or make representations about products and services offered under or associated with such marks.