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Wealth Management

The final type of advice is Wealth Management. Wealth Managers have the skills, training and experience of the other types of advisors but are more knowledgeable on issues of comprehensive financial planning, tax planning, estate planning and investment advice.

An example of how this works is to consider investment advice and tax planning. Taxpayers can pay income taxes of 30, 40 and close to 50 percent so tax planning that can reduce that liability is extremely important.

A Wealth Manager will make recommendations about how to diversify your investments, this is referred to as Asset Allocation. Then an important decision is made about Asset Location which means where in your portfolio should you hold those investments.

Tax planning is a critical aspect of investing and Asset Location provides an opportunity to reduce income tax liability with just a little effort. Every dollar saved in taxes is the same as getting an extra dollar of return from your investment.

Wealth Managers spend more time and effort with each client because of their comprehensive approach. As a result Wealth Managers have significantly fewer clients than other types of advisors because of the time-consuming work done for each client.


Wealth Management is client-centric, consultative and is a way for a client to address their specific investment objectives in a manner that incorporates their individual and family values. It is not just about managing money ‑‑ it is about achieving what is most important.