Wealth management is the long-term process of professionally managing your money to try to meet your financial goals and aspirations. Wealth Management takes into account the personal and unique financial situation of you and your family over the long-term.
Whereas a stockbroker helps you pick stocks, a wealth management advisor works with you to build a complete investment strategy. This strategy will be based on your particular situation and life goals and attempt to get you to where you’d like to go. We’ll take into account aspects of your financial life such as cash flow, taxes, your children’s education, charitable giving, planning for small businesses, trust and estate planning, insurance and long term health care. To accommodate these needs, your wealth management advisor will help you choose from a wide variety of investment vehicles that will comprise your individual investment plan.
While building this plan may be the first step, Scalco Financial will stay with you throughout the lifetime of the plan to execute it and make changes accordingly. A solid strategy involves often changing courses with changes in your life, both expected and unexpected. A good wealth management advisor is one who will get to know the needs of you and your family, and who will help ensure that your plan is tailored to accommodating them.
The first step in building your financial plan is assessing your financial and personal goals. Once we’ve developed a complete picture of your situation, we’ll develop a realistic plan to help meet these goals over the course of your lifetime. By staying in regular contact with you, actively managing the investments that make up your plan, and then monitoring its progress, we help ensure that your plan stays on track. As your situation evolves the market or laws change, we’ll seek to ensure your plan is modified accordingly.