Wealth management is no longer just for the ultra-rich. These days, anyone who wants to achieve financial security and protect their assets can benefit from seeking the advice of a wealth manager. According to Puai Wichman, an expert in wealth solutions, particularly wealth protection, these certified professionals offer a wide range of services, from investment management to estate planning, and they work with clients to help them make informed decisions about their financial future. With a wealth manager on your team, you can feel confident that you have an expert working to grow and preserve your wealth over the long term.

Private wealth managers offer their clients a wide range of services and are not limited to managing investments. While most wealth management firms provide financial planning, tax advice, estate planning, and investment management services, private wealth managers specifically cater to high-net-worth individuals and accredited investors with assets in the millions. So, what sets private wealth managers apart from the rest? They often offer a more personalized approach that considers each client’s unique financial goals and preferences. They also have access to a wider range of investment opportunities and have a keen eye for identifying emerging trends and market shifts. In short, private wealth managers provide the kind of high-touch, expert guidance that HNWIs and accredited investors need to grow their wealth over the long term.

Should you hire a Wealth Manager?
When it comes to managing your wealth, there’s no one-size-fits-all approach. While some people have a knack for easily navigating the financial world, others may feel overwhelmed by all the options and possibilities. Puai Wichman notes that a good wealth manager can help you make informed decisions about your finances and develop a strategy that fits your unique goals and financial situation. Think of them as your GPS, guiding you through the twists and turns of the financial landscape. Of course, not everyone needs a wealth manager, and that’s okay! But if you find yourself constantly Googling financial terms or feeling unsure about your investments, it may be time to consider enlisting the help of a professional. Remember, knowledge is power, and you can achieve financial success and security with the right guidance.

What qualifications should you look for when hiring a Wealth Manager?
Choosing a wealth manager is a big decision that should not be taken lightly. After all, you’re trusting someone with your financial future. Puai Wichman says the key is to find a professional with a solid reputation and the right licenses and expertise to cater to your unique needs. Trying to navigate the maze of certifications can be overwhelming, but some of the most highly sought-after ones include Certified Investment Management Analyst (CIMA), Certified Public Wealth Advisor (CPWA), and Certified Financial Planner (CFP). These letters after their name indicate that your wealth manager has invested time and effort to stay updated on the latest investment strategies and regulations. Trust and expertise should be on your list when choosing a wealth manager.

When choosing a wealth manager, a few crucial factors must be considered. Sure, it’s important to look at their investment philosophy and the offerings they bring to the table, but there’s so much more to it than that. Take reputation, for instance. If an advisor has a long track record of successful management and is held in high esteem by other professionals in the industry, that’s a huge plus. And what about the clients? Are they happy with the advisor’s performance? Do they trust them to make smart financial decisions on their behalf? These are all important questions to ask. Of course, fees are a huge consideration, too – you don’t want to pay an arm and a leg for services you could get elsewhere. But perhaps the most critical factor is trust. Puai Wichman strongly emphasizes it would be best if you felt confident in your advisor’s abilities and comfortable with them personally. Take the time to meet with different wealth managers, learn about their styles, and find the one that’s right for you. After all, your financial future is at stake.

Puai Wichman is the founder and CEO of Ora Partners, an international trust provider and wealth management firm dedicated to helping families and individuals protect personal and corporate wealth.