For many people, the term “wealth management” is synonymous with investing. You turn to a wealth manager to provide investment advice and portfolio management with the goal of growing your wealth.
Unfortunately, current wealth management providers only take care of a portion of the client’s total wealth in their bank. It is actually a segmental wealth management. Therefore, despite its promise to help the client to grow wealth, its benefits are limited by not having the big picture of the client’s financial assets.Over time, your financial security will be impacted by various aspects of your financial life.
At GCG Investment, we do wealth management differently. We offer HOLISTIC wealth management that takes care of the entire wealth of a client. By doing so, we can reduce unnecessary risk exposure. We are also able to increase the return potential of clients’ various investment assets. In short, we help the client to grow every part of his wealth.
Holistic wealth management includes a plan to grow, protect, enjoy and distribute your wealth. In addition to investments, it also includes insurance and considers how you’ll reliably create retirement income during bull markets as well as in the middle of a recession.
With a better understanding of you and your family’s needs, we can help find ways to improve your financial health. Investment returns hold little value if they are not used to drive progress and improvement. The goal of Wealth Management is to guide you through unexpected life events while staying on course to meet your financial goals.
Here are some of the key components of holistic wealth management, and how they interact with your overall financial plan:
Your goals: We will work with you to understand the unique personal and financial goals you are working toward. For many people, saving for retirement is that the top of the list. But this is likely not the only goal you have — you might be looking to build a dream home, start a family, pay for college or a wedding, start or grow a business, go back to school, or change careers — or something else entirely. By understanding what’s important to you and what you want to accomplish in your life, your advisor will be able to build a financial plan that empowers you to reach your goals.
Growth: How you grow your wealth will be dependent on your personal financial situation. But doing so will almost certainly involve some form of investing. A holistic wealth advisor uses his or her understanding of your goals and risk tolerance to construct and manage an investment portfolio that aligns with your goals.
Protection: As you work to grow your wealth, it’s equally important to protect the wealth you’ve already accrued. Your emergency fund, insurance (including disability and life insurance), and tax mitigation strategy are all integral to this. Your advisor will guide you on how to position your wealth with investments, insurance, cash and other financial vehicles.
We have access to a wide variety of Life Insurance products; including cash value and term life policies. For those still working, Disability Insurance contracts can cover total or partial disability of professionals, business executives, small business owners and other. Long-Term Care Insurance reimburses some or all costs of care received in settings such as in-home, the community, alternate living facilities or nursing facilities.
Distribution: This is a critical piece of wealth management, because at some point, you will want to use your wealth. A wealth manager can help you maximize your wealth as you distribute it by being strategic about where you withdraw funds and when in an effort to minimize taxes and shield you from other risks like market downturns.
Your values: Advisors who approach wealth management holistically want to know as much about you as possible. By understanding your personal beliefs, your advisor can recommend investment solutions that align best with your values.