Strategies for Protecting Wealth
by Darrell Aviss

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Private Wealth Journal

Wealth Management Plan Meeting

The third part of our Private Client Management Process is the Wealth Management Plan. In most cases, we will rely on our Professional Network of expert advisors, to analyze in great detail our client’s situation and make appropriate recommendations. Every Wealth Management Plan will deal with four key areas of our client’s financial life beyond his or her investments:

• Wealth Enhancement aims to produce the best possible investment returns consistent with our client’s level of risk tolerance while minimizing the tax impact in these returns.
• Wealth Protection is aimed at protecting a client’s wealth against potential creditors, litigants, children’s spouses and potential ex-spouses, as well as protecting our client against catastrophic loss.
• Wealth Transfer intends to facilitate the most tax-efficient way to pass assets to succeeding generations, and to do so in a way that meets the wishes of our client’s.
• Charitable Gifting helps fulfill our client’s charitable goals and can often support efforts in each of the other three areas.
• It is important to remember that none of these areas stands in isolation from the rest. Wealth Protection, for example, is often intertwined with Wealth Transfer needs.
• The major advantage of our Wealth Management Plan is that it enables us to deal with each area systematically while maintaining an integrated approach to our client’s overall financial picture.