The Informed Investor

How Can Wealth Management Benefit You?

October 6, 2022

The pathway to financial stability involves much more than finding a good job, saving money, and living within your means. There are many bumps in life you can’t anticipate, each of which can eat away at your wealth. Unexpected health issues, family financial expenses, taxes, or legal services, along with emergencies and the rise of inflation, can all impact your personal wealth.

Creating financial stability and planning for a secure retirement can be stressful for many reasons, so using a reputable fiduciary financial advisor makes good sense. Financial advisors (also called investment or wealth managers) are dedicated to helping you maximize your investments while minimizing the impact inflation, taxes, and other unexpected life events have on your asset portfolio.

Here are some of the great ways that wealth managers can help you manage your money:

Setting Goals and Retirement Preparation:

One key benefit of having a weather manager is their understanding of the financial income you’ll need to live the lifestyle you want. This includes the life you want to have while you’re working and when you want to retire.

Wealth managers will help you develop a budget and investment strategy in keeping with your personal goals to help you manage and prudently grow your assets. By following their suggestions, tailored to your needs, you will have a roadmap showing where you stand now and the best plan to help you achieve your future financial goals.

Responding to Major Life Events:

Wealth management firms are invaluable when helping you respond to major life events. Events like getting married and having a child, buying a home or moving to a different state, or even changing jobs all have the potential to massively impact your personal financial situation.

Knowing how to best plan for and respond to these events and finding ways to save or even profit from major changes in your life is another benefit to relying on advice from a fiduciary investment advisor. They will know the ins and outs to help you handle major life events and give you the best advice they can to help you make your big life decisions.

Creating a Stable Investment Portfolio:

One of the best ways to generate wealth is through multiple investment streams. The annual return combined with compound interest will steadily grow your portfolio, helping you retire much earlier in your life. Additionally, spreading your money across multiple revenue options will minimize the risk of losing money that comes with investment.

However, knowing what to invest in and dealing with the taxes that come from your successful investments can be difficult and stressful if you do it on your own. A wealth management firm takes much of that stress and difficulty away. Your financial advisor will do much of the hard work for you and present you with the best options while explaining how they’ll impact your personal portfolio.

Consider ICCNV To Be Your Personal Wealth Management Firm:

Are you looking for a wealth management firm with experience that you know you can trust with your hard-earned money? Then look no further than the Investment Counsel Company of Nevada.

Our dedicated team has been advising clients since 1987. We have built a reputation for integrity and transparency and for providing clients with prudent financial advice and perspective. In fact, we have been ranked as the #1 Financial Advisor in Nevada by the Wall Street Journal and Barrons for eight consecutive years.

So, if you want peace of mind when it comes to handling your finances, be sure to contact us today.