As an individual’s financial goals grow, so does the need for sound financial advice. Previously, one would need to have various financial advisors for different aspects of their financial planning. These include a banker, a tax professional, an estate agent, an insurance agent, and investment managers. As much as it would seem like the advisors are of importance, some of the advice that may come from them may be redundant. It is recommended to have our financial planning under one roof to be safe.
A better approach
The goals and values shape how one effectively manages their assets. Using a holistic wealth management approach helps establish priorities and avoid financial pitfalls that may lay ahead. Rather than looking at just the numbers to achieve an end, using objectives and goals becomes a more grounded method of making financial decisions. This is the heart of holistic wealth management. Additionally, you can personalize your goals and plan on the best strategies to achieve them. This integrated planning method helps increase the chances of achieving the goals instead of looking at money as a means to an end.
Bottom line
The benefit of holistic wealth management is that it is inclusive and a continuous process that envisions changes in an individual’s life. The plan is adaptable and evolves as time passes while having the desired end goal in sight. Planning helps give the client peace of mind to focus better on what matters in their lives. As holistic wealth management covers all goals in life and not just the financial ones, it is easier to plan retirement, protect your lifestyle and ultimately ensure that your legacy is protected through sound financial planning.
Resources
Dr. Diana Rangaves, PharmD 