Wealth Management

We focus on the following disciplines, taking into consideration how it affects you — our valued clients.

Retirement planning

Retirement planning involves determining what kind of life you want to live after you retire – and then taking steps to get there. A holistic approach accounts not just for how much you want to save for retirement, but also for post-retirement lifestyle choices like where you want to live if you want to maintain part-time employment, and how you’ll fund extracurricular activities in addition to the costs of daily living.

Estate Planning

Estate planning is a legal and financial service that helps you dictate who will inherit your assets, command your businesses, and care for your children after you’re gone – all while mitigating taxes and legal fees. Estate planning considers all aspects of a person’s estate, including property, vehicles, banking and investment accounts, and even life insurance policies. 

Tax planning

No one likes to pay the piper – no matter the size of your estate. But a good tax planner should help you analyze your current situation and future goals, project the most tax-efficient moves, and maximize your income for long-term success.

Investment management

Investment management also called money management or portfolio management is a full-circle service in and of itself. It refers not only to buying and selling investments, but their selection, allocation, tax implications, and overall portfolio strategy. Additionally, an investment manager may also help you with banking and budgeting to design short- and long-term plans to capitalize on your wealth.

Financial planning

Financial planning is a service that pares down the other aspects of wealth management into an all-encompassing, living document routinely reviewed by a trusted financial advisor. Financial planning is designed to help you manage your wealth while clearing the inevitable hurdles that arise in life by outlining your:

• Current situation
• Long-term goals
• Strategies to help achieve your goals

Accounting for all aspects of wealth management serves as a roadmap to guide your financial decisions and help you live life to the fullest. 

Risk management

Risk management is a term most often heard in investment circles, but you can apply it to any part of earning, allocating, and spending money. Inevitably, every financial decision you make carries some risk – often linked with financial return. As such, risk management ties all the other wealth management disciplines together to help you increase profits while mitigating potential losses. 

An individualized plan is one of the most effective ways to prepare for your financial future. By combining each discipline of wealth management and accounting for your unique needs, you can:

• Account for your income and expenses
• Devise reasonable, attainable goals for your future
• Set in place steps and accounts to meet your goals
• Build a budget that works for your needs and your wants (vacation, anyone?)

These steps may seem like the basic standard to ask from your financial advisor – but unfortunately, that’s not always the case. By working with a certified financial advisor who takes the time to understand your portfolio and identify your pain points, you can grow your wealth and minimize your tax burden. An effectual financial advisor won’t only work for you; they’ll work with you, keeping you informed and educated on your choices and potential outcomes. 

And the benefits of selecting a trusted financial advisor go beyond setting and achieving goals. A comprehensive, personalized financial plan should be able to provide:

• A guide for action-taking and decision-making in even volatile financial markets
• Tools and steps to get out of debt – and circumvent taking on more
• Increased motivation and commitment to achieve and even exceed your goals

You may even find that an individualized financial plan can provide emotional benefits, too – chiefly, peace of mind for your future and financial security.

An essential component of individualized wealth management is a discipline known as investment management or portfolio management. Broadly speaking, this is the purchase, sale, analysis, and allocation of your assets. And it doesn’t just refer to stocks and bonds; proper investment management accounts for property and cash, too. 

All told, a professional investment manager should be able to monitor, strategize, and implement a tax-efficient portfolio strategy based on your situation – and no one else’s. The goal is to help you prepare for the future, and hopefully, exceed your expectations. 

To do this, an investment manager may compound other financial disciplines, as well. For instance, financial planning and advisory services can coordinate your goals with your current situation. A good financial planner should be able to take your assets, align them with your strategy, and increase your wealth – and your peace of mind. 

And that is what we at TAKWEALTH strive for. We believe in relevant and sound investment management strategies. At TAKWEALTH, we love our diverse client base and work with every client to build individual financial plans from the ground up. So whether you’re just starting out, nearing retirement, or experiencing another type of life transition, we look forward to providing you with a comprehensive strategy that: 

• Help minimize risk in volatile markets
• Appropriately allocates your assets to maximize returns while minimizing taxes
• Organizes your financial future into a living document 
• Takes a technical, data-driven approach so that you can feel confident in your decisions

At TAKWEALTH, you’re not just a client: you’re an active participant in designing your future. 

Wealth preservation is a crucial component of your wealth management strategy. This tactic involves not only preserving wealth for your future but the future of your loved ones, too.

When you think of long-term wealth preservation, one of the first things that likely comes to mind is setting up your will, as estate planning is at the core of maintaining (and passing on) your wealth. This designation process determines who will receive your possessions, financial accounts, businesses, and even your children when you pass on or are incapacitated. You can’t take these things with you when you die – but you can ensure that their value is preserved so your beneficiaries can inherit the estate you’d imagined they would.  

Another crucial component of wealth preservation is making sure that your accounts are as tax efficient as possible. Tax planning involves analyzing your current situation and future goals and allocating assets to where they’ll generate the least tax burden. 

Charitable contributions are another way to preserve some of your wealth while sharing your good fortune. And the personal and financial ramifications of giving aren’t lost on Americans: according to Giving USA 2020, U.S. individuals and businesses gave over $1 billion to charity every day in 2019. The value of these contributions is even recognized in the U.S. tax code, which allows you to harness tax strategies to reduce your income, capital gains, and estate taxes when you give generously. 

Of course, taking any of these steps – planning your estate, strategizing on taxes, and even giving responsibly – is most effective when you involve an advisor in your portfolio management. 

Asset management is an essential component of any personalized financial plan. In short, asset management is the process of buying, selling, allocating, and managing assets to increase wealth while decreasing costs. An asset manager is someone who can help you account for your holdings, identify and manage the risks involved with your assets, and otherwise bring your financial planning full circle. 

TAKWEALTH believes asset management is a crucial component of managing your wealth no matter what income bracket you fall into. 

To understand why, let’s review what assets are – and how to manage them. 

Simply put, an asset is anything of value, or that can be converted to value. While the term is often used to describe investments such as stocks, bonds, assets such as retirement plans, and even life insurance policies also qualify. And regardless of total net worth, many individuals own other types of assets, such as cash and banking accounts and personal property like vehicles, jewelry, and artwork. Real estate, including land and buildings, is another type of asset we must consider. Managing each of these assets efficiently is crucial to your financial health. The most effective way to manage your assets is with a personalized financial plan. A comprehensive strategy that accounts for your earnings, assets, and liabilities will help you coordinate what you own now with your future goals. Plus, a financial advisor can help you allocate your net worth into accounts and investments that generate higher returns, less risk, and a lower tax burden. 

At TAKWEALTH, We’re of the mind that investment strategies that box everyone into the same category can do more harm than good. After all, no one is alike and many of us are at different stages of life with very different needs and goals. 

We listen and learn our client’s pain points, goals, and current situation. Then, after gathering data – using AI-supported investment planning tools – earn your trust by taking the time to build a portfolio that pointing you in the direction of your goals and good financial health.