Family Wealth Management: Finding the Best Firm

Article written by Jennifer Black, Dedicated Financial Solutions.

Finding the Best Family Wealth Management Firm for Your Needs

Your family has been successful, perhaps in business or through wise investing, and maybe over several generations. The time has come to engage a professional wealth management firm to meet the financial needs of your extended family to protect the wealth and the legacy you’ve built – for current family members and for future generations.

Some of the services you may need include retirement and income services, estate planning strategies, tax reduction or deferral options, advice on trusts, guidance on insurance, private banking and everyday accounting services.

The best family wealth managers look at the needs of the whole family, along with the needs of each individual family unit or category of members. For example, the older generation may be looking to retire and live off their wealth but are also concerned about proper efficient wealth transfer, while their children may be in the prime of their earning years and focused on saving, getting a handle on cash flow and providing for the younger generation’s education. Different portions of the family will need different services.

It may be tempting to let one enthusiastic family member – someone with some financial experience, for example – handle everything, but having the whole family work together with an outside wealth manager leads to improved understanding and provides access to services you may not know about. It also provides everyone with the opportunity to make suggestions that come from their own viewpoints, and very often those ideas and perspectives will benefit everyone in the family – today and in the future.

Dedicated Financial Solutions understands that while your family is united, the different branches almost certainly have different wealth management needs. Dedicated Financial’ team of experienced experts will meet with your family to learn about your circumstances and discuss your various needs. They’ll look at the big picture of your family’s total net worth, you family relationships and your plans for the future. They will then make recommendations suited to your specific investment, wealth management and estate needs.

Finally – and very importantly – the Dedication Financial Solutions team will remain in contact with you so that your family wealth management plan can be monitored and adjusted as your family changes, as your assets and business opportunities change and as government regulations change, ensuring that your family’s legacy is one that lasts.

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