Florida’s wealth management service had continually grown, serving many people around the state. The priority is to help take care of yourself and the entire family. Fort Myers wealth management is dedicated to bringing your financial vision to life. When seeking investment advisory services, a combination of other financial services addressing the needs of the affluent clients, such as:
- Investment advice
- Estate planning
- Accounting
- Retirement
- Tax services
All these are provided. Some of the other major financial services offered to the clients are:
- Wealth management
- Banking and lending
- Investments
- Trust and estate
- Planning
These are major services offered by Finemark Bank.
What is wealth management?
Wealth management provides services to clients; ranging from wealthy to high-net-worth, and ultra-high-net-worth people and families. Wealth management is the use of the following:
- Processes
- Services/Products designed to grow
- Protect
- Utilize
- Disseminate one’s health
The level of one’s wealth is determined in two things:
- The services/products are affordable
- One manages the wealth in a piece-meal method
Spectrum of wealth
When you are going to break down the spectrum of wealth, you will come up into three groups:
- Little wealth. These are for those little resources, which one can’t afford the associated services/products for the limited wealth management. These are individuals that can keep the roof over their head and handle financial situations but have no extra resources for protecting the limited wealth.
- Moderate wealth. An individual that has greater abundance, which is characterized as in the “middle class”. It allows more options and a greater likelihood that people can afford to implement techniques or products to disseminate, protect, grow, and utilize their wealth. It includes buying certain types of insurance policies, engaging the estate planning services, planning for retirement and education.
- Great wealth. More assets are greater complexities and more options to wealth management. Having greater wealth is more common to adopt the entire approach or interconnected services level.
Two approaches to wealth
Most firms offer two approaches to wealth management, namely:
Collaborative approach. The approach includes a CFP (Certified Financial Planning professional) providing investment management and financial planning processes. There is an integrated approach for growing, utilizing, disseminating, and protecting the client’s wealth.
Single office approach. The approach is commonly offered by banks and brokerage firms. The firms deal with particular areas, such as:
- Investments
- Risk mitigation
- Estate planning
- Tax planning
No matter what level of wealth you have, it is still valuable to determine how you grow, utilize, protect, and disseminate the wealth.