Wealth management involves an overarching perspective of a client’s financial life. With a holistic (whole) approach, wealth managers offer services like investment management, financial planning, estate planning, tax planning, charitable giving, and retirement planning.
At Humanity Wealth, we provide all of the above services. What sets us apart from other firms is that we are financial advisors without a minimum asset requirement.
We know that money isn’t everything. Wealth management matters because when people accumulate more wealth than they can handle, there are methods to mitigate risk and grow it over time. If people associate wealth with confidence and quality of life, they aim to preserve it.
Considered a high-end financial service, most wealth management firms will only work with you if you have a minimum net worth or investment assets to manage, referred to as advisory assets under management to distinguish from brokerage assets. For clients who need a more high-level service, working with one firm, like Humanity, can help simplify your financial endeavors versus using different professionals for each area.
Remember, we do not care how much money you have and will work with you no matter what.
Who Is Wealth Management For?
Wealth management is usually associated with high net worth individuals. There is no shame in not having this kind of wealth—most people don’t. It takes time, knowledge, and discipline to grow your money through saving and investing.
As your cash and assets (things of value) increase, it may become overwhelming or confusing about how to manage them properly. This is where a financial advisor, in this case, a wealth manager, steps in.
Whether you build wealth for yourself as a self-made entrepreneur, are gifted funds from a loved one, or are handed assets through a will, we can help you determine a strategy for investing and saving.
Your portfolio risk should be assessed when getting started and every so often, especially as the economy shifts in reaction to a crisis or global turmoil.
How Much Money is Required for Wealth Management?
At Humanity Wealth, we do not require a minimum, as everyone can receive financial planning. View our detailed pricing plan options before calling us so you know we are for real.
With over 20+ years of experience in wealth management, we can help you close the gap between your current reality and the financial life you truly dream of. If you want second opinion financial advice, opt-in for hourly financial advice. Keep in mind that our advisory assets plan is not subject to hourly or subscription fees.
It feels good to know that we have something for everyone because we believe everyone deserves a fair chance to build wealth. If you are accumulating wealth and need more help than you expected, we look forward to hearing from you.
Wealth Management Strategies
It makes sense that more in-depth support is needed when you have more wealth to manage, right? Here are some wealth management strategies to apply now or note for your financial future.
Set financial goals.
You want to develop a comprehensive financial plan that covers your financial goals. This may help that you have realistic benchmarks to get to where you want to go, which can help keep you on track.
Consider your investment options.
Create a comprehensive investment strategy covering your retirement savings accounts and diverse investments. In what feels like the neverending story of types of investments, you want to choose investments that align with your risk tolerance and time horizon.
For example, as you near retirement, you may want to move higher-risk investments, such as stocks, into safer investments like short-term bonds. However, if retirement is 30+ years out, you can take on more risk, as you have more time to make up for any losses.
Have the right insurance coverage.
If something goes wrong, someone gets injured, or someone dies, you need to have the proper insurance coverage based on your financial standing. Life insurance and health insurance policies will help ensure you and your loved ones are protected from unexpected events.
Improve your tax situation.
Unfortunately, more money earned means more money paid in taxes. Coordinate a tax planning strategy in your wealth planning to create a strategy that assists you in staying within your preferred tax bracket to dish out less in taxes each year.
Learn about tax-inclusive budgeting.
Is business succession needed?
For business owners, you will need to develop a succession plan to determine who will run your business when you retire.
Wealth Management Alternative: Online Financial Planning
Affordable wealth management exists here at Humanity Wealth Advisors—we do things differently. Call us to have an honest financial conversation to see if wealth management is correct for you. If not, financial planning is where we can begin.
To make it more convenient for you and your family, as an independent financial advisor in Newark, CA, we can provide online subscription-based financial planning to people in these states: AZ, CA, CO, HI, ID, MA, MN, NC, NV, OR, TX.
Please know that you are safe in discussing your finances with us. This is a place of non-judgment and inclusion.
Each fiduciary-focused financial advisor at Humanity Wealth puts your best interests above their own, including myself, the humble founder. Reach out for advice backed by a mission of inclusion.