Personal Wealth Management

What Is Personal Wealth Management And Do I Need It?

Personal Wealth Management Services

A more comprehensive approach to your financial planning strategies is generally best suited for those with significant savings. This practice is commonly referred to as wealth management or personal wealth management.

When you achieve a particular level of financial success, whether it is saving a nest egg in your retirement accounts, paying off your home, or other milestones, you may still have gaps in your financial picture that can pose a risk. A professional wealth manager, or wealth advisor, will help fill in any gaps and paint a more complete financial picture for you and your family. An experienced wealth management advisor will not only make your money work harder, but you’ll also gain peace of mind about your future, knowing you have the best plan in place.

Personal wealth management takes multiple practices, such as financial planning, portfolio management, and other financial services needed to achieve financial goals. These financial goals might be to reach certain financial milestones or may involve a specific time frame for short or long-term planning activities.

Regardless of the goals and objectives, our wealth managers and advisors work with you to navigate the world of money management, from taxes all the way up to retirement. Financial Advisors do not all fit the same mold; some specialize in specific areas, while others offer a plethora of services.

Personal Wealth Management vs Private Wealth Management

What Is Personal Wealth Management Vs Private Wealth Management?

Really, there is little difference other than semantics. Wealth management as a practice applies to both individuals and corporations. Private wealth management is a form of wealth management that most often refers to an individual but can also apply to a corporation or a business.

Private wealth management is a comprehensive approach to your finances, just like the umbrella term of wealth management. A wealth manager, or wealth advisor, should guide you on your financial and wealth planning journey to ensure you are taking not only your current financial picture into account but also planning for the future.

To learn more about What Is Wealth Management, read more here.

Who Needs Personal Wealth Management?

Anyone can benefit from wealth management strategies. However, wealth management is a different approach than just saving for retirement, building your investment portfolio, or minimizing tax burdens. Wealth management is often the next step in one of these strategies. It includes multiple strategies such as building wealth for retirement, planning your estate, looking into tax planning and preparation, and even life insurance, wills, and other financial planning opportunities. Typically, wealth management is geared towards high-net-worth individuals.

If you have multiple assets, own your own home, have money in retirement, think you need life insurance, or just are looking for the next step in your financial planning picture, wealth management planning may be right for you and your family.

My Personalized Wealth Management Plan

Our wealth managers personalize your plan to your individual situation. Every client has specific and very different financial goals. With The Retirement Planning Group, you will work with a dedicated wealth manager who will understand your personal situation and specific goals. Wealth management advisors can help guide you through the following financial areas:


Personalized Wealth Management Plan
On top of all of the services listed above, a wealth manager may also serve as your point of contact, coordinating communications and relationships with financial experts and any other advisors, such as an attorney or an accountant.

If you are in need of a wealth management advisor now or in the near future, contact The Retirement Planning Group today to schedule an appointment with one of our professionals.

Private Banking and Wealth Management

Private Banking And Wealth Management

Our wealth management advisors are experienced in financial planning and can help you create and follow a plan specific to your personal goals. This plan will fit your lifestyle and your individual comfort level when it comes to risk vs. reward.

They can help you answer the difficult questions in life like “How can I minimize my taxes?” or “Do I have enough money to retire?”.

Wealth Management for the Long Game

The goal of personal wealth management is to grow and preserve wealth over the long term. Wealth management combines several areas of financial services (investment, tax strategies, retirement planning, etc.) into a single focus for all your financial goals. When we speak of wealth management, our focus is on the management of relationships between all of the people who affect your financial decisions (lawyers, accountants, insurance agents, etc.).

A wealth manager is not someone you meet once and never see again. Our wealth advisory team will be there to guide you and assist with questions or concerns. Your advisor will create a personalized strategy based on your goals and your dreams.

Retirement Income Planning

Retirement Income Planning

Focusing on investments, pensions, social security, tax and estate planning.

Investment Advisory

Investment Advisory

From active portfolios to mutual funds, IRA’s 401k’s, and more.

Income Tax Preparation

Income Tax Preparation

Come tax season, these advisors are your best friend, navigating the tax code with ease for the best return.

Financial Planning

Financial Planning

Your long-term partner, helping you through every stage of your finances from the moment you meet all the way through your retirement.

Looking for a wealth management advisor?

It can be beneficial to ask friends and family for recommendations. Check with people you know who have similar financial situations to see who they are using. You can ask if they are happy with the wealth management services they provide. Once you have recommendations, do your homework. Research online, make sure their values are in line with yours, check credentials, and call to speak to someone to see how you like their customer service.