Beyond Investing: 4 More Reasons To Use A Wealth Manager

November 5, 2018 , In: Finance , With: No Comments

A wealth manager can help you with investments, to be sure, but they also concern themselves with your goals, financial situation and comfort with risk, providing a holistic financial service. Those are just a few of the reasons Canadians turn to wealth managers in order to grow their wealth, plan their retirement and learn more about investing.

Learning how a wealth management company can help you is an important step in taking control of your financial future. You probably already know that a wealth management company can help you with your investments, but here are four more reasons to use them.

A Goal Oriented Approach

What do you want from your money? Do you want to retire by the time you are 50? Do you want to put your kids through university? Do you want to leave a sizeable nest egg for your family? Do you want to eliminate your debt? Or do you simply want to enjoy life, traveling the world and taking in the finer things? Whatever you want, a quality financial advisor will listen to your goals, tailor your portfolio accordingly and offer advice on how to live the way you want.

Retirement Planning

One of those goals is likely a retirement plan. Save for teachers, police officers and government workers, there are precious few jobs these days that offer a pension on which you can live in retirement. You have to create your own income for retirement, and a wealth manager can help you do that by advising on investments and savings strategies.

Estate Planning

Organizing your estate is an important part of your financial future, both for you and your family. Estate planning will help ensure that your money is used properly in the case of your death or incapacitation, whether paying for your medical bills, or settling your debts and transferring your wealth. A wealth management company which offers estate planning services can help you update your will to reflect life changes and communicate your wishes clearly.

Education & Empowerment

Understanding your time horizon, risk tolerance and life situation, a quality wealth manager will educate you on how to save and invest your money properly and responsibly. They will empower you to become a smarter investor, in addition to making wise investments on your behalf.

Wealth managers can absolutely help you improve your investment portfolio, but that’s not all they can do. Taking a more comprehensive approach to your finances, they can also help you achieve your goals, plan for a happy retirement, organize your estate and educate you on how best to save and invest.

To find the right wealth management company for your needs, visit Wealth Management Canada, a service that researches and vets wealth managers, and then gives you a shortlist of companies best suited to your needs. It is a free service intended to empower investors and could help you take control of your financial future.