What Is a Wealth Advisor?

You might not think of a wealth advisor is a must-have service, but as your bank account grows, an advisor can be crucial in helping you plan for the future. The key to utilizing an advisor is knowing what a wealth advisor does, and how they can be the difference between financial uncertainty and the stable, comfortable future you’re counting on.

A wealth advisor is a person who has access to financial services and products and provides guidance to clients about how to protect and increase their wealth. Wealth advisors can also be called wealth managers. Both are usually client-centered and focused on how to achieve a customized set of wealth-preserving and wealth-building goals.

It is important to understand that not all financial advisors are wealth advisors. Wealth advisors tend to focus on individuals who have a higher net worth. Their services can include capital gains planning, estate planning and risk management. In other words, they tend to focus on wealth that already exists, as opposed to strictly building more wealth.

When in the market for a wealth advisor, the same approach for finding a regular financial advisor would apply. First and foremost, look for someone that isn’t trying to sell a product or service by offering it to their client. The best wealth advisors are those that seek to use only what will benefit the client and his or her needs. Next, assess the prospective advisor’s experience. The more experience a wealth advisor has achieving great results for their other clients, the more likely it is that your account will also be handled in the best way possible. But don’t just take his or her word for their ability; do your own research too.

If there are certain non-negotiable steps that need to be taken with your account, make sure that the advisor is willing to do what is asked. This is also a telling sign that the advisor has the client’s best interests in mind. Also, look for wealth managers who have business structures and strategies that fit the needs of your account. Every firm and organization will handle wealth management differently. One may use a team of people, where another works with clients individually. It all depends on which style a client prefers. Nicholas Wealth Management uses a results-driven plan to help secure results for the client.

Overall, the way to find out how a wealth advisor can help you is to set up a consultation and meet with an advisor one-on-one. Getting the right wealth advice can be the start of securing a bright and prosperous future.

 

Securities offered through TCM Securities, Inc. Members FINRA – SIPC. Advisory Services offered through Triumph Wealth Advisors and BluePath Capital Management.

The access and use of any product, service or links on this website is subject to the terms of this Disclaimer. David Nicholas & Nicholas Wealth Management shall not be liable for any damages arising out of your reliance to any information provided here. The information and materials provided here, whether supplied by a third party websites, marketing materials, newsletters or any form of publication are provided for general information and circulation only. None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any product or financial instrument. It does not take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute investment advice, and does not warrant that such information and publications are accurate, up to date or applicable to the circumstances of any particular person. Any expression of opinion is subject to change without notice and is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of the information provided. You should not make any investment or financial decisions, without undertaking independent due diligence and consultation with your financial advisor.

This blog is designed to provide general information on the subjects covered.  It is not intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Nicholas Wealth Management and its affiliated companies, and their representatives and employees do not give legal or tax advice. You are encouraged to consult with your tax advisor or attorney.

Annuities are generally considered long-term investments. It is intended for a person who has sufficient cash or other liquid assets for living expenses and other unexpected emergencies, such as medical expenses. A fixed indexed annuity is not a registered security or stock market investment and does not participate directly in any stock or equity investment or index. Annuities are not deposits of or guaranteed by any bank and are not insured by the FDIC or any other agency of the US. All guarantees are solely backed by the financial strength and claims paying ability of the issuing insurance company. With the purchase of any additional-cost riders, the contract’s values will be reduced by the cost of the rider. This may result in a loss of principal and interest in any year in which the contract does not earn interest or earns interest in an amount less than the rider charge. This illustration does not take into surrender charges which may apply to early withdrawals.

Purchasing an annuity within a retirement plan that provides tax deferral under sections of the Internal Revenue Code results in no additional tax benefit.An annuity should be used to fund a qualified plan based upon the annuity’s features other than tax deferral. All annuity features, risks, limitations and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan.Insurance products, including annuities, are offered through David Nicholas, a licensed insurance agent in the state of Georgia.

 

Securities offered through TCM Securities Inc., 2230 Towne Lake Parkway, Building 800, Suite 300, Woodstock, GA 30189. 404.889.8733. Members FINRA/SIPC. Investment advisory services offered through Triumph Wealth Advisors.