What Are the Benefits of a Wealth Manager? Do I Need One?

By DeBlanc + Murphy
February 11, 2024

Personal finance can be quite complex, with wealth management being exceptionally intricate. Navigating various investments, planning for retirement, and strategizing for tax efficiency can seem daunting. This is where a wealth manager would step, helping you navigate these complexities to achieve your financial goals.

Let's explore the benefits of hiring a wealth manager so you can determine if it's the right move for your financial journey.

What Is a Wealth Manager?

A wealth manager helps high net worth and above individuals manage their money. Their clients typically have investable assets over $1MM.

It's important to note that a wealth manager differs from an asset manager or a financial planner; wealth management services look at a broad view of your financial situation and generally only work with high- and ultra-high-net-worth families and individuals.

3 Benefits of Working With a Wealth Manager

Holistic Planning

Rather than focusing on isolated aspects, a wealth manager considers your entire financial picture. You'll get a more comprehensive approach to your financial well-being, as everything from estate planning and charitable contributions to retirement and tax optimization aligns with your objectives.

Tailored Investment Strategies

You have unique circumstances, goals, and risk tolerance. With a wealth manager, you'll get investment strategies that are just as unique.

Once your diversified portfolio has been designed, your manager will continuously monitor and adjust it, helping protect against market fluctuations. These tailored strategies and adjustments mean wealth accumulates more efficiently over time.

Peace of Mind

Wealth managers must have a deep understanding of tax laws, market trends, and investment strategies. You'll benefit from that expertise while also freeing up more of your time as your manager handles any day-to-day needs.

Rest easy knowing your financial plans and goals are actively pursued even through changing economic conditions, all while enjoying time with family, building your career even further, or exploring personal interests.

Is a Wealth Manager Right for You?

Whether you're just beginning your wealth-building journey or looking to optimize your existing strategy, consulting with a wealth manager could be a pivotal step toward unlocking long-term financial success.

If you have investable assets over $1MM and are interested in assistance with:

  • Portfolio diversification
  • Risk management
  • Investment advice
  • Tax and capital gain planning
  • Legacy and estate planning
  • Charitable contributions

It may be time to speak with a wealth manager about your situation and objectives.

Build Your Wealth, Protect Your Future

The benefits of working with a wealth manager extend far beyond financial management. The holistic, personalized, time-saving approach helps achieve financial aspirations while providing peace of mind.

Turn to DeBlanc Wealth Management LLC to learn more about wealth management and if it's the right move for you. As fiduciaries, we're required to always act in the best interest of our clients, and we use empirical data to inform and support investment strategies. Put your portfolio and financial well-being in good hands – speak with one of our knowledgeable advisors today.

DeBlanc Wealth Management LLC is a Registered Investment Advisory firm.

DeBlanc Wealth Management LLC is backed by its sister company, DeBlanc, Murphy and Murphy, LLC, a full-service Certified Public Accounting firm with a 40+ year legacy of expertise in tax, audit, business advisory, bookkeeping, and personal financial planning.

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