When you think of the words“wealth management” many people automatically assume that in order to engage a CPA for these services, they must be “wealthy” or have a large excess of savings available for investments.
However, we think of “wealth management” as being something available to everyone, regardless of income level. Those who want to save for retirement, help a child pay for college, or even invest with the goal of growth can benefit from Wealth Management services as long as you are willing to forgo having some of your money immediately available.
Wealth Management through Investment Planning
Here are a few instances when you could begin your journey of Wealth Management through Investment Planning:
Interest Income: If you have over $50 of taxable interest income, especially with no dividend income, you are probably invested in money market accounts and certificates of deposit. According to a recent Internet search, an average money market rate is currently .11% and the CD rates are at 1.5% on a 3 year CD. A fully developed financial plan could strategically place you to earn more money while not compromising the security of your investment.
Multiple Brokerage Accounts: If you have multiple brokerage accounts, especially if they are with different brokers, you may not be taking full advantage of services and investing strategies available to you. We can help you better structure your investments to achieve their financial goals.
A Major Life Event that Generates Cash: If you sell a business, gain an inheritance, receive a lawsuit settlement, or have any life changing event resulting in an increase in cash – this is the perfect time to consult with us regarding how best to structure and manage your investments. It is especially important to learn more about this service if you have not previously had a relationship with a broker.
Wealth Management & You
As your CPA financial planner, we take a holistic look at your financial health and goals. We already have an in-depth knowledge of your income situation and can make suggestions to help you reach your goals. Additionally, we comply with the strict ethical standards of a CPA and leverage the latest planning to knowledge to your advantage. A CPA financial planner makes your money work for you. Start by taking our financial wellness quiz and contact me to start planning your investments.
Earl Blackmon, Shareholder & Strategic Consultant
Earl is our leader of our Wealth Management services. As a specialist in processes efficiency and accounting issues for businesses, Earl helps clients achieve maximum profitability through careful financial, process, and wealth management consulting.