Protecting the wealth that you have acquired through many years of hard work, and ensuring that you can pass that legacy for your children is a complex task, best handled by professionals. High-net-worth family wealth management becomes an essential service when the prospect of growing real generational wealth becomes a reality.
A wealth manager – or a team of wealth managers – will apply their expertise to their fiduciary responsibility to help you protect and future-proof your assets and turn them from individual wealth to family wealth – and from family wealth to generational wealth. High-net-worth individuals may not have to deal with the kind of financial issues that ordinary wage workers do. Still, substantial wealth comes with its own set of financial and legal issues, which require the help of professional wealth managers to navigate successfully.
5 family wealth management services and goals
A wealth manager will use a combination of the following to help you grow and protect your assets:
- Comprehensive wealth planning: considers all your family’s assets and investments and plans and implements ways to ensure that they are both protected against loss and depreciation and to help them grow so that their value continues to exceed inflation and other future threats. It also helps you plot and organize the transfer and distribution of wealth to the next generation. With an integrated approach, a wealth manager will plan for retirement, the impact of taxes and estate preparation.
- Investment: A smart, flexible investment plan must form part of your wealth management strategy. Your family wealth manager will help you construct a portfolio that helps you meet your goals while balancing risk and cash-flow needs.
- Insurance: Having the right insurance policies in place will help you to protect your assets and investments, as well as forming part of your asset portfolio.
- Safeguarding investments through insurance
- Retirement planning: Planning for retirement is important for each individual, but it also impacts the family’s wealth and affects what assets will be transferred to your heirs. Preparing for retirement can be complex and overwhelming, but a professional wealth manager will be able to advise on the right investments to make and help you ensure that your retirement will be fully provided for with plenty of assets left over for your estate.
- Estate planning: Proper estate planning will ensure that your wealth does not go to waste when you pass away. Your assets will be managed and disbursed according to your wishes and in line with a carefully devised strategy.
Professional management of all family assets and investments
Nour Private Wealth Management unites all of the above services and aspects of wealth management into comprehensive solutions customized for each client and carefully managed by a team of wealth managers and investment advisors.
For more information on our high-net-worth family wealth management services, contact us today.