Average is not good enough … Our goal at Family Investment Center is excellence. We find excellent investment products and supervise an excellent service package. We maintain a library of excellent research materials and financial planning resources. We also demand top safety and security for our clients.
We won’t settle for average. We continually seek top managers or securities and meld them into superior custom portfolios. Each palette of investments is carefully tailored to personal or family goals. We enlist excellent managers, research, resources, and effort for our clients. Don’t settle for average. You deserve excellence.
Please search our blog posts for answers to common investment questions, and we look forward to sharing our knowledge and experience with you first-hand.
Protect Your Future With a Wealth Management Strategy
We all admire the risk-taking entrepreneurs out there who put so much on the line and reap great rewards in return. However, while entrepreneurs are known for their abilities to creatively build a plan for their startup, they can be lacking in planning their exit strategy for safeguarding their wealth. If you are an entrepreneur and this describes you, the lack of a wealth management strategy will not only affect your own retirement, but the financial good of your family and the generations to follow.
It’s not uncommon for the bulk of an entrepreneur’s portfolio to be heavily invested in his or her own company’s shares. However, if for example, you’ve got 60 percent of your money in your own shares, the remaining 40 percent should be in something with less risk associated with it. This will give you a more diversified portfolio.
Why is it so important for an entrepreneur to take more precautions in a wealth management strategy? Most are supported by investors who could stand to lose their entire investment if something goes awry.
And what about the exit strategy? According to a U.S. Trust survey, roughly 63 percent of business owners have not formulated an exit strategy. They don’t have a plan for whether or not they’ll sell or transfer ownership upon their death or retirement. This is also an important aspect of developing a wealth management strategy because this merger or acquisition process can be quite complex, and a lot rides on the success of this process.
Also, according to a study by Deloitte, only 59 percent of family-owned businesses have a plan in place for an unfortunate event, such as the death or disability of the head of the company. The lack of a plan can lead to a difficult and damaging set of events to follow, and it can sink the company and potentially destroy business and family relationships.
If you head up a company and something should happen to you, you will want your family to be protected. Also, a wealth management plan should establish protections for all your business partners so they have the capital they need to continue on.
Many great and powerful companies have been built on the backs of risk-takers, but when it comes to building and managing a portfolio for wealth management, it’s important to turn to a professional investment advisor who is steeped in the knowledge of what risk means in investments.
At Family Investment Center, we can work with you for a wealth management strategy that considers your unique needs. Contact us today and let’s get started.