There is a lot of confusion about what wealth management is and who can benefit from it. Today, we’re going to dive into wealth management to answer these questions.
What is a Wealth Management?
Wealth management is a financial advisory service that creates a strategy for managing, increasing, and distributing wealth. The person who aids in this service is called a wealth advisor.
Another important thing to keep in mind is that wealth ≠ “rich.” Many people assume wealth management is something only for the elite, but anyone can benefit from wealth management!
⇾ Read Now: What's the Difference Between Asset Management and Wealth Management?
What Can Wealth Management Do for Me?
Wealth Management covers a broad spectrum of services – which means that it can aid just about everyone. Wealth management includes:
- Retirement planning
- Asset management
- Investing
- Risk management
- Tax planning
- College planning
- Long-term care planning
- Benefit planning
- Elder care service planning
- Small, medium, and large business services
- Executive benefit planning
- Estate planning
- Wealth transfer
In short, wealth management can help you retain and grow your wealth over time, and plan for wealth distribution.
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.
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.
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