When folks think about wealth management, or search for “wealth management near me” or a “wealth advisor near me,” they typically are looking for private wealth management. But before hiring a wealth management advisor, it is worthwhile to consider this important question: Just what is wealth management? How is it different from financial planning?
How can you find the best? What do the best wealth management firms bring to the table for family wealth management that typical personal wealth management does not?
By definition, top wealth management firms are rare but can offer extremely valuable wealth strategies if you can find one. These can not only promote a rich and wealthy retirement. They can help you develop superior asset wealth management with very reasonable wealth management fees.
This is a key difference between garden-variety financial planning or asset management, and true wealth management. The payoff can be huge. It is worth seeking the best wealth management from private wealth management firms.
Of course, when you think wealth planner, you should think fiduciary wealth management. Don’t you want a firm that totally puts you first without conflicts or commissions? But you have to be careful. Most don’t! So, it’s not enough to just search for a wealth management advisor near me. You want more. You really want fee only wealth management in local wealth management.
For private wealth strategies, you really want a “total wealth management inc” that really knows what it’s doing. Whether a physician seeking medical wealth management or investor wanting general retirement wealth strategies, you want complete wealth management.
That doesn’t just mean basic CFP/Certified Financial Planner wealth management. You want really advanced training and expertise. A total wealth planning and management inc-type firm offers much more comprehensive private wealth management services than basic financial planning offers.
You don’t need to find a wealth management case study finance to find top fiduciary wealth management near me. If you know how, you can find high quality private wealth management for Florida or from any other state. For tips on how to select quality wealth management advisors, click here.
Of course, you need a clear understanding of total wealth management cost. You will want to review a wealth management fee schedule for the fee only wealth management firm you consider. Fees for wealth management services can vary. But don’t just look at how much are wealth management fees. Honest firms show you all fees up front, but many financial advisors make them hard to find. You want to compare apples to apples. Vanguard says a good advisor can add 3% a year after fees. Over the long term, that 3% makes for more than double the money.*
Start by reviewing a wealth management brochure or website. You can take a look at ours here.
Getting quality wealth management has never been more critical. The risk of running out of retirement money has never been more real. Social Security and Medicare will be bankrupt in a few short years according to government projections.** Government debt is at record levels and projected to get far worse. Taxes for those who have some wealth to manage will go sharply higher. The COVID pandemic will damage the economy for many years. And the risk of a massive stock market crash from which investors won’t recover has perhaps never been higher.
Camarda is a Fee Only, Financial Advisor based in metro-Jacksonville and Ponte Vedra Area, serving clients nationwide. Headquartered in Fleming Island near Orange Park, Ponte Vedra and Jacksonville, Camarda offers fiduciary wealth and financial planning & portfolio advice to clients across Florida and the United States. Since 1993, we have provided investment, retirement, estate planning, asset protection, 401(k) rollovers, financial planning, real estate and business advice designed to help families get wealthier with less tax and risk.
Camarda specializes in wealth management, which goes beyond typical financial planning and investment advice. We are drop-dead dedicated fiduciaries who must always put clients first. This is much different from most advisors who claim to be fiduciaries, but also have commission licenses and sometimes forget to say when they switch hats. We wear only one hat, and it is white.
As a financial advisor, this helps us pull all your wealth priorities into one efficient package. As your investment advisor, and with our TaxMaster affiliate, we’re able get your big picture in focus, and work smart to perfect your:
- Estate Plan by reviewing and redesigning your wills, trusts, and updating documents with our legal team as needed. This can help avoid estate tax, protect your kids and grandkids from divorce and financial predators, and make sure you and your spouse are protected and maximize retirement income.
- Asset Protection many investors are surprised to learn their real estate and investment and back accounts are “easy pickings” for lawsuits and financial predators. We quickly identify these risks, and prescribe fast, cost-effective ways to keep your wealth safe. For low cost and little trouble, we can help make your wealth bomb-shelter bulletproof.
- Portfolio Planning Unlike other advisors, we’re happy to manage your 401k in place or your existing portfolio without insisting on selling it. And unlike many advisors, we use a customized approach that builds portfolios for your specific financial goals, instead of some cookie-cutter method. We use unique blends of stocks, bonds, ETFs, mutual funds, and other instruments. Our goal is to build the portfolios that give you the highest assurance of achieving what matters to you – like comfortable lifetime income you don’t outlive.
- Retirement Income Planning is easier said than done. The internet – and lots of “financial planner” sales reps – offer many calculators and planning tools, but most are far too simplistic to do a good job. Good retirement planning is hard. You need to factor taxes, inflation, and how long you and your spouse will probably live. You need to consider legacy planning. Maxing out Social Security and pensions is harder than it looks. And you need to fund for all the stages of retirement – active, increased health care, long term care, and surviving spouse. Relying on simple rules of thumb like “spend 4%” can spell disaster. Our methods are supervised by a PhD in Retirement Planning, and we know how to do it right.
- Tax Like inflation, taxes are the biggest thief of income and wealth. And make no mistake, taxes are inevitably going up. Big time. We take taxes very seriously and are expert at smart ways to keep your wealth in your pocket. With a team that includes CPAs, EAs, tax attorneys, and a tax master’s program at Georgetown Law, we have the smarts to save you big.
- Annuity Review & Rescue annuities sometimes have their place but too often have hidden costs, fees and tax bites that can bleed wealth. Annuitizing – converting an annuity to income – during a time of low interest rates could yield the biggest financial blunder an investor could make. We are expert at analyzing these complex products, and helping you discover how to best manage them – or what needs to be done to get rescued.
Our wealth management approach is quite uncommon. It’s designed by our founder, a PhD-Financial & Retirement Planning who’s used it to build and protect his own family fortune. Besides the PhD, he’s completed more financial training than anyone you’ve probably ever seen and has made Barron’s and Forbes “best advisor” lists for years. You can read his full bio here.
* Assuming 5% annualized growth of $500k portfolio vs 8% annualized growth of advisor managed portfolio over 25 years