Defining Wealth Management
Wealth Management is best described as the process of addressing concerns that impact your ability to achieve your personal, financial, and family goals.
As a Wealth Manager, I emphasize client relationships — that are broad in terms of encompassing all areas of a client’s financial life and deep with respect to our intimate knowledge of a client’s values and priorities.
I develop and implement highly customized holistic solutions that address virtually all aspects of a client’s financial well-being.
8 Wealth Management Issues
Our focus is on the 8 Wealth Management Issues.
1. Investment Management
I start with a disciplined investment strategy that is designed just for you, with your unique goals and needs in mind. Your tolerance for risk and market volatility is a critical concern. For additional detailed information, please view our
2. Cash Flow and Debt Management
Cash flow is the cornerstone of your wealth management plan and the key to a disciplined investment strategy*. In addition, your debt level and credit history are important barometers of financial health. Good debt management can lower the amount of interest you pay, and may ensure you have credit when you need it.
3. Family Risk Management
Even the best investment and financial plans* can crumble if you have not properly prepared for the risks that exist for every family. Should something happen, such as disability, death, or long-term-care need, the carefully planning and investing can become unraveled. I can evaluate your current risk plans to determine if they are adequately meeting your needs at this stage of your life and as you plan for the future. Please be sure to visit our Long Term Care Insurance page.
4. Retirement Planning
Unlike your parents and the generations of the past who had their retirement funded mostly with guarantees made by their employers, the assets you have accumulated may be your primary source of cash flow in retirement. I partner with you to create a plan considering the level of assets needed to fund your vision of retirement including likely income needs, potential tax implications and risks that can stand in the way of realizing your vision. I encourage business owners to view our Business Retirement Planning page to learn more about the opportunities to enhance your retirement savings each and every year.
5. Education Planning
Every child dreams about what they will be when they grow up, and a college education can be the most important factor in that dream becoming a reality. I can help you identify how much money you need to send your children or grandchildren to college, determine how much you need to save, and how this dedicated investment fits with your overall investment management plan*. Please visit our 529 College Savings Plan page for additional information.
6. Legacy and Estate Planning
Legacy planning is about so much more than just money. Simply stated, a legacy plan ensures that what you want to happen will happen in your later years and at the time of your passing. With our affiliate law office, we are uniquely positioned to assist our Wealth Management clients in this vital area. Our law office can draft the necessary documents, which may include a Last Will, a Living Trust, a Health Care Proxy with Living Will provisions, a Durable Power of Attorney, and a Declaration of Homestead. Often, Living Trusts are funded during life to avoid probate, and to designate a successor Trustee (often a trusted family member) in the event a time comes when you are no longer capable of managing your financial affairs. Having an estate plan in place reduces stress and red tape. Proper legacy and estate planning can eliminate the problem of placing your family in the position of facing uncertainty at the worst possible time.
7. Business Planning
As a business owner, you likely face daily challenges. The demands of running your company may leave very little time to focus on the important financial matters that can have a major impact on you, your family, your business, and your future. As your Advisor, I can help you evaluate and implement strategies that not only protect your business, but also take advantage of opportunities that could improve the cash flow, tax situation, benefits, and bottom line of your business.
8. Special Situations Planning
Throughout your life some expected and unexpected needs will come your way, whether it is planning for a wedding, taking a spur-of-the-moment dream vacation, deciding to buy a second home or facing unexpected expenses due to unforeseen events. As your Advisor, I am here to help you with situations that do not always fit nicely into the other wealth management issues. I can assist in determining a path to get you through whatever financial challenges and opportunities arise.
And our extra Wealth Management Issue -
9. Income Taxes
Again, with our affiliate law office, we are uniquely positioned to assist our Wealth Management clients in this critical area. I provide tax advice and prepares annual income federal and state tax income tax returns for our Wealth Management clients. And, when necessary we represent clients before the tax authorities. For additional information, please visit our Tax Center.
*These services offered by Wayne Davies through his affiliation with HD Vest Investment ServicesSM and HD Vest Advisory ServicesSM