Wealth management is about developing an integrated strategy and the resources to implement it. It should encompass long-term planning as well as short-term goals.
Wealth erosion, by contrast, is the result of waiting too long. It comes from the cumulative effect of taxes, fees, and inflation. The sooner you begin implementing wealth management solutions, the better. Wealth management should include a plan that looks ahead for more than the current generation.
Long-term planning starts with wealth management goals. It is not uncommon to develop a multi-generational vision that includes the transfer of wealth. To successfully navigate the waters of individual wealth management, your financial planning services should take into account an extended timeline.
That is why Tim Nash & Associates specializes in helping wealthy individuals and families prepare for the future.
Strategic wealth management combines many of our other services including:
Wealth management includes the strategic planning of tax advice for business structures. In can also incorporate those structures into estates or family trusts. As the accumulation of further wealth ensues, preparations can be made to minimize the taxes while allowing the greatest amount to be transferred to beneficiaries.
As part of the short-term implementation of long-term goals, you may want to consider including other services that compliment wealth management. We highly recommend obtaining due diligence reports for any businesses currently in operation. Likewise, due diligence is necessary when buying or selling businesses. You may also want to consider the tax implications of establishing trusts to protect the wealth accumulated via businesses.
If you would like more information about how Tim Nash & Associates can better advise you on wealth management, place a call to our offices today. We will be able to sit down with you and help you with your long-term goals.
