How Wealth Management Works

Posted by Greater Midwest Financial Group on Dec 14, 2022 4:05:55 PM

calculator resting on a pile of money

Wealth management is a critical service for managing all of your assets, expenses, and resources to create a comprehensive plan for the future. But how does it work, exactly? And what makes it different from other financial services?

⇾ Read Now: When Should I Get a Wealth Manager?

How Wealth Management Works

Wealth management is made up of more than just your investments and retirement plan—it includes all of your assets, from business interests to real estate.

The process begins with a personal wealth advisor – this is someone who has the experience to help maximize your assets and build your wealth in a stable and “diversified” way. Your wealth manager will discuss all your revenue streams, assets, and other income as well as your risk tolerance and income needs.

The next step is your wealth advisor creating a plan for how to capitalize on your resources to help meet your savings goals and enjoy a safe, secure future. This typically includes advice like:


Wealth management is more than just advising you on new opportunities – it’s a holistic strategy that looks at your overall wealth to determine best paths forward. It also makes it easier to plan when you’re consolidating your wealth management and advisement in one service, instead of juggling multiple services across different organizations.

⇾ Read Now: What's the Difference Between Asset Management and Wealth Management?

Wealth Management with Greater Midwest Financial Group

With almost 70 years of experience combined, our wealth advisors understand what it takes to make the most of the money you make.

We’re proud to be Five Star Wealth Managers 

In conjunction with Mpls.St.Paul Magazine and Twin Cities Business, Five Star Professional has recognized an outstanding group of Twin Cities-area wealth managers. Five Star Wealth Managers are named using an in-depth research methodology that includes ten objective criteria.

Contact a Wealth Advisor

Greater Midwest Financial Group is a financial advisory firm serving St. Paul, Minneapolis, and the wider Twin Cities area. We specialize in wealth management, retirement planning, asset management, and other personal finance needs.

Photo by Karolina Grabowska:


Topics: wealth management, financial literacy, financial planner