What does a Wealth Management adviser do and how can they help you?

Our focus is diverted by our daily tasks that we could not get the time to think about the bigger things in life. For instance, will you have enough funds at the time of retirement? Or should you take early retirement? Whether you will stay at a resorted beach town or among the mountains in olden days? Would you plan to set up a winery or a new technology startup to boost your entrepreneurial dreams? All these questions need to be looked into deeply for answers. Plan your future anytime, there are no time barriers. Planning for finances ahead of retirement is a crucial decision. When you do not ignore taking medical treatment for any health problem, then how can you skip thinking about financial requirements in the future? Financial planning is essential when there are several choices for retirement plans. Investing with a wealth advisor/ manager can help in a more reliable financial strategy. Wealth Manager Vs Financial Advisor Wealth manager, financial advisor, investment advisor, financial planner, etc. owns several certifications and licenses that differential them. Financial Advisors The financial advisor is someone who can advise on investments, financial strategy, tax planning, etc. against a fixed commission. Reportedly, 46% of millennials lack knowledge and awareness about financial advisors. The two types of financial advisors are financial planners and investment advisors. Financial Planners They are also called as “lifestyle planners” and can guide about setting up a budget, planning for tax, saving for retirement, planning for children(s) higher education, etc. They have a certificate of the financial planner which is a professional necessity for this position and may include: Certain financial planners earn by selling insurance, stocks, mutual funds, etc. While fee-based planners charge a fee and also earn commission by selling products. Investment Advisors Investment Advisors are responsible to put their client's interests in priority. They should register with the SEC and follow certain rules and regulations. Some of the financial planners are also Registered Investment Advisors. However, it is always better to find out your priorities before finalizing any financial plan. Like you may ask a broker about fiduciary responsibility towards you and also check for the latest stocks. What Does a Wealth Management Advisor Do? Wealth management is a part of financial advising which includes managing the assets of high earning persons. Wealth managers are backed by a team of professionals who offer products and services such as retirement funds, real estate investments, etc. Wealth Managers offer customized solutions to clients such as placing assets in the market to grow earnings and to call out when risky. When Wealth Managers understands individual requirement you may consider asking him for advice on getting other services and solutions at affordable prices. The role of a wealth manager is to provide investment advice as well as financial guidance. Wealth managers give financial advice based on a person's financial life, investment management, accounting and tax consulting, estate planning, retirement planning, etc. which helps to grow and maintain wealth. Following are the three areas of operations of wealth advisor: 1) Investment Management and Risk Management A wealth advisor analyses the level of risk and accordingly plans an investment strategy to attain the maximum financial benefits. Every investment plan includes handling risk, therefore, you must have enough insurance for your investment, therefore, it is good to have sufficient insurance for financial investment and further expanding to other portfolios to lower risk. 2) Tax and Estate Planning Wealth advisors often discuss with accountants and lawyers to plan a strategy for minimizing your taxes. They can also propose strategies for estate planning that includes wills, establishing trust, etc. and the advantages it may grant to the dependants. This will prevent any chances of surprises in the future. 3) Real Estate Wealth advisors have more experience and skills to manage your valuable real estate portfolios, as compared to the financial advisors. Around 30 million Americans have made real estate investments thus, it is the right decision to select an advisor for financial planning as well as real estate. Who is the Best Wealth Manager? Wealth Managers can help to see unforeseen problems and accordingly suggest a suitable investment plan and can define your financial goals. If you are also willing to invest and need guidance then log on to PTIC India at www.pticindia.com. PTIC India provides wealth management at affordable cost funds, with reduced advisory fees, without any administration fees, following the lowest account minimums, and extended support by our financial advisors. Get customized investment plans and learn new avenues for growing wealth with us