Protect the Fruits of Your Labor With Wealth Management | Baton Rouge CPA
Many people, especially small business owners, require advice about their financial planning—pensions, investments, retirement planning, and business protection, to name a few. A knowledgeable financial adviser can prove crucial to protecting your legacy.
Wealth management: what is it?
After a customer has signed a contract with a wealth management firm, the company provides advice to the customer on how to effectively manage their personal finances or investments.
What are the benefits of hiring an accountant?
The majority of accounting firms have a network of independent advisers who can provide impartial advice on any of the following topics:
Pensions: Are you considering investing your pot in order to receive an adjustable income? Do you plan to mix your pension options? Would you like to contribute more to your pension? Choosing the right accountant can be beneficial.
Planning for retirement: It is critical to prepare for tomorrow and beyond. When you reach retirement age, you may have amassed large sums in pensions, redundancies, or inheritances that you are uncertain how to protect.
Management and advice on investments: Understanding all the opportunities and associated risks will help you turn your pennies into pounds.
Tax planning for inheritances: Protect your family’s financial future, reduce your tax exposure, and prevent poor investment decisions.
Life insurance and critical illness coverage: There is no one who wants to think about the unforeseen and unexpected events that life sometimes brings. Therefore, it is all too easy to overlook the benefits that protection insurance might provide financially in the event of an accident, illness, or death. However, we insure our cars and houses without hesitation, so why not insure ourselves and our family members as well? Make sure that your loved ones don’t have to worry about money should the unthinkable happen.
Protecting your business: You need to ensure your business is adequately protected in case a key employee leaves. Directors and employees are fundamental to the long-term growth of a business.
Will writing: Many people do not have one, or believe it is too challenging to arrange, although it is one of the most significant documents you can have. With the help of an advisor, you can specify what should happen to your estate (whatever you own) and financial assets after your death.
Mortgages: Obtaining advice on the most appropriate mortgage for your circumstances will give you peace of mind when committing to such a major investment. As opposed to heading straight to your bank (who can only offer you their own products), advisers look around the market to find the most competitive rate for your situation, whether you are a private homeowner or a developer/landlord.
Whether by choice or not, life is often complex and inevitably involves change. A sound financial plan should be multifaceted and flexible enough to accommodate life’s unforeseen changes where possible. A professional adviser will make value-for-money recommendations and solutions based on your unique circumstances.
It is our mission as accountants to communicate complex information to clients with objectivity, integrity, and clarity in order to help customers readily comprehend the knowledge and advice that we are sharing with them. Please contact us to schedule a consultation if you would like to discuss any specific investment or gain advice regarding our wealth management services.