We all have life goals – and sometimes, it’s difficult to know what the options are and where to find the resources to make those choices for our future. 

Wealth management is a comprehensive approach to financial planning, helping high net worth individuals create strategic plans for their current and future needs. It involves working with one professional who coordinates the services and products needed to manage assets effectively.

Wealth Management services may include everything from investment advice, trust creation, business succession planning – ensuring that your portfolios are tailored for your needs now and adjust as your life and circumstances change.

Wealth Manager or Financial Planner?

Wealth Management combines the money management aspects of financial planning with investment management. The approach is designed to put you in the driver’s seat of your financial health by linking several aspects of personal finance and money habits under one comprehensive service.

Perhaps you are looking to ensure your child’s education is secure, but are also planning a retirement? You may also want to review your financial structures to make sure that you are not paying more tax then required in the short-term. Wealth Management takes a holistic approach to these goals and tailors an investment, insurance, and tax minimisation strategy that works with your circumstances.

What is Wealth Management?

Wealth Management helps you manage your finances in an effective way by creating a tailored financial plan, looking at your assets, cash flow, tax and estate planning options and more. It looks at how to leverage these assets to achieve your financial goals.

Four areas that are typically included in your plan are:

• Investment Management
  • A comprehensive review of your current investment structure and strategy, so that you can feel confident that you’re making the right choices for your future. As the market or circumstances change, changes can be made to your investment strategy.

• Financial Planning
  • Develop your plan around spending and savings goals so that you can feel in control of your future. We will develop a plan that is tailored specifically for you, and provide options to leverage your wealth and assets, so you know that you are doing everything possible to secure your financial future.

• Tax Minimisation
  • Making sure you have the right structures in place so that you can feel confident that you are only paying the tax that is required, and you are receiving any offsets you are eligible for. 

• Estate Planning
  • Creating a plan and protecting your assets for your family for when you are no longer here. This can also include Succession Planning, which is making sure your families future is secure.

Wealth Management is an all-inclusive approach that creates effective financial plans for current needs, as well as helping to secure long-term objectives. This holistic approach provides a clear, comprehensive plan, streamlined to achieve your goals. 

Qualia Wealth can design a strategy specifically tailored to your needs, providing advice on investments, tax planning, estate planning and more. We understand that having financial security and peace of mind is key in order to build a secure future. 

When Should You Consider Wealth Management?

Wealth Management is suited to those who have financial resources, or are on the pathway to growing their resources. It offers you the best of both worlds – sound advice to navigate your investment options and ongoing support to ensure that your plans succeed, all without requiring a significant time commitment from you. Your solution may include portfolio management, cashflow and modelling of your options, and making sure that you have protections in place if things don’t go to plan.

If you lack confidence in your knowledge of financial markets and products, or the time to undertake the research, it may be beneficial to have someone guide you through the process of creating a sound financial plan. Ultimately, using an expert to help with your Wealth Management comes down to what feels most comfortable for you.

Final Thoughts

The goal of Wealth Management is to help you achieve financial security and grow and protect your wealth confidently. It involves careful analysis of all aspects of one’s finances—from investments to retirement plans—and is usually accessed by those with more established portfolios who want professional guidance on managing their assets.

Whether or not Wealth Management is right for you will depend on individual circumstances; however, it is worth considering if you want help creating an effective financial plan for the future. 

Chat to our team about how we can help you with your Wealth Management plan today.