Goals-based wealth management is much more than managing numbers..
Wealthy clients continue to have a strong interest in doing good deeds with their money with a recent survey reporting that nearly 90% say that giving back is an essential part of their lives. According to a recent study of high-net-worth and ultrahigh-net-worth investors ... only about one third of wealthy clients say that their advisors are talking with them about strategies that achieve their most important family needs and goals.
Although many clients want to leave an inheritance to their children, less than a quarter believe that their children are ready to inherit the family fortune. The simple solution would be to establish a set of principles to guide the purpose of their wealth in the future ... unfortunately only 10% have done so because no one has suggested that to them. Because of that ... I dedicated a chapter in my book "Faithful with Much" on the topic and talk to my clients about what is really important in their lives. It is not all about numbers ... it is reaching the goals that we want to achieve in life. I believe that high-net-worth clients today want to focus more on important personal and family matters such as philanthropy and teaching their children about why financial stewardship is critical.
More About: Tony Amaradio, MBA
Tony Amaradio is Founder and Chief Strategist of Select Portfolio Management, Inc. He is a visionary and innovator in the financial services industry, who early in his career, recognized the need for a comprehensive, integrated wealth management system for high net-worth clientele. After years of experience helping clients build, plan and preserve assets, Tony developed one of the first comprehensive wealth management models in the country. Recognizing that it would require a high level talent pool from financial, tax, legal and insurance to implement and manage his comprehensive integrated model, he recruited and surrounded himself with some of the finest and most experienced practitioners in the financial and legal domains. Some of the most advanced strategies of financial, tax and asset protection plans available today have been designed, developed and implemented by Tony and his team. He is nationally known and is a sought after speaker for events all over the country. In Southern California, he is especially well known after hosting his own financial talk radio show “Market Talk” that aired daily for more than twenty years. For the last several years Tony has followed his passion of devoting a third of his time to philanthropy and to be a guest speaker to help major non-profit donors improve their capacities and abilities to be more effective philanthropists themselves.