If one is in need of wealth management services, then it is best the help of Family Wealth Management. This is a company that has grown over the years in providing families with financial advice, such as the opportunities to invest in and much more. Family Wealth Management has gained fame over the years and this has been attributed by the financial services they offer to their clients. However, despite its name suggesting that it specializes in family financial services, the company also caters for the needs of individuals and charitable organizations.
In this article, a highlight on the operations of the Family Wealth Management will be focused on, and at the same time gives an outline of the essence of seeking their help.
Steps on how to become a client at Family Wealth Management
When it comes to the historical background of this company, a lot has to be said in order to show how the company has thrived over the years. It started in the year 1998 under the services of Ambassador Joe M. Rodgers and his family. However, the company extended its operations in order to reach out to the other families. This gives many families an opportunity to become a client of the Family Wealth Management, but one has to adhere to their rules on how to sign up for a membership. First, the family and company need to meet face to face. This is essential for the company to gather the information on the family, such as their financial objectives and goals. The goals and objectives are determined by the company’s team once the family discloses its financial information.
Secondly, the company undertakes an evaluation exercise in order to decide the risk profile of the family. This is based on the level of risk that the family is able and willing to withstand. This is done through requesting the family to fill in the risk tolerance questionnaire (RTQ). This is followed by undertaking an analysis of various concepts, such as risk management, estate planning, retirement funding, college funding and family philanthropy.
Additional instructions on the steps involved
Family Wealth Management ensures that the clients are served to their satisfaction. It creates a wealth management proposal that reflects on the investments and risks involved, based on the analysis done in the previous step. Moreover, the client will be presented with the investment policy statement. The policy statement is meant to give the client a guide on the family’s investment with the company.
The company and the client have to come to an agreement and this gives room for implementation. This includes opening the client’s new accounts, executing necessary trades and transferring funds.
Conclusion on how the company operates
Communication is a great feature embraced by this company. It ensures that the client is provided with the performance reports on a quarterly basis. Moreover, the company offers protection of assets from any fraud and theft. This has been enabled through partnering with Charles Schwab & Company that offers clients with access to their statements daily.