Financial Planner or Wealth Manager? The Right Choice Can Affect Your Financial Future

Do you have a wealth manager continually thinking about and evaluating your financial future? You should. Achieving your financial goals requires an experienced partner who can not only monitor your assets and plan for retirement, but also pinpoint ways to safeguard and grow your wealth.

Unfortunately, many business owners, executives, and individuals confuse financial advisors for wealth managers. This mistake may deprive them of the key services, insight, and “big picture” perspective needed to achieve short-term and long-term financial goals.

What Is an Outsourced CFO?

An outsourced CFO is a third party that provides the same expertise as a C-level employee but on a part-time or an as-needed basis. They may be hired for project work or through a CPS firm that also provides controller, bookkeeper, or tax consulting services. Outsourced CFO services are used by businesses to provide stability, expertise, and direction on a part-time basis when a full-time internal solution isn’t affordable.

What Is Wealth Management?

Wealth managers work with lawyers, accountants, and insurance agents to meet your needs and grow and preserve your wealth in a long-term capacity. Unlike a financial advisor, an experienced wealth manager can seamlessly combine various aspects of financial services to create a comprehensive package that addresses all parts of your financial life. A sampling of these services includes:

Investment Advice
Philanthropic Planning
Financial Planning
Legal Planning
Estate Planning

Tax Strategies
Trust Planning
Family Legacy Planning
Banking Services
Risk Management

The Importance of Wealth Management for High-Net-Worth Individuals

From capital gains planning to risk management and estate planning, the needs and concerns of high-net-worth individuals and business owners are different and more complex than those with lower incomes, requiring a seasoned wealth manager with experience addressing a wide range of scenarios and complex financial issues.

While financial planners can assist with lifestyle planning and activities such as budgeting and cash flow planning, an experienced wealth manager can look at the bigger picture and more effectively manage the funds of high-net-worth individuals and business owners.

For instance, a wealth manager can help you properly adjust your current and future finances based on major life events, like having a child, buying a home, getting married, retiring, or selling your business. A significant life change often means an equally significant change in your finances, and a wealth manager can help you weather the current storm and adjust your future projections accordingly.

Rely on Rubino for Experienced Wealth Management Services

Since 1980, Rubino has provided skilled wealth management services to individuals and business executives and owners. Whether you need assistance with retirement planning or succession planning, we can help. To learn more about our wealth management services, call us today at (301) 564-3636.