WHAT IS WEALTH MANAGEMENT?
Wealth management is the blending of various financial instruments to provide clients with ways designed to grow their wealth while keeping in line with their tolerance for risk. Clients have typically heard the terms stock, bond, and mutual fund, but they may not know all the benefits and risks associated with each. Through the education portion of the Illumination Process, we help clients understand how these and other investments can be blended to provide a comprehensive portfolio.
Wealth management begins with assessing your risk tolerance. That sounds fancy, but what it really tells us is what parameters we need to keep your portfolio within to make sure you remain comfortable and confident with your investments. Clients come to us with different goals for their portfolios, but regardless of whether your goal is aggressive growth or protecting your portfolio to leave for heirs, we build a well-diversified portfolio designed to set you up for success.
WEALTH MANAGEMENT SERVICES
Investing in the financial markets has been one of the best ways to build wealth for more than 100 years. During that time, significant research has been done to find ways to minimize down markets and maximize up cycles. We take the most current research and blend it with historical trends to help ensure clients have portfolios that match their comfort for risk.
We perform an analysis of the investments you have in your current portfolio. This includes stocks, bonds, mutual funds, ETFs, structured products, real estate, annuities, and life insurance. During the analysis, we consider how changes to your portfolio could impact both income and capital gains tax. We then present you with options that would bring your portfolio more in line with your goals while potentially minimizing the tax impact of any changes.
Wealth location is the process by which we will examine your current portfolio and determine if there is a way to potentially reduce current or future taxes by using products that comply with a different section of the IRS code. Clients are often surprised when they find a few small changes in the type of account they invest in or the way an account is titled can reduce their tax liability.
SUSTAINABLE / SOCIALLY RESPONSIBLE INVESTING
As corporations are required to provide more transparency into their business practices, we have seen a significant increase in clients who want to ensure their investments reflects their values. The current system in the investment world is to evaluate the environmental, social, and corporate governance structures of corporations (ESG). Clients who want to ensure that their views on the environment, social equality, or any other number of ethical concerns can find multiple choices of highly rated ESG options through members of Illuminate Financial Group.
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We’ll explain everything, taking technical data and making it understandable and relatable. Our intention is to help manage your wealth more efficiently. Contact Illuminate Financial Group today to find out more about our wealth management services.