Details on each, plus 10 other specialists to consider for occasional circumstances.
By Anthony Glomski
Entrepreneurs and other successful people typically have complex and varied financial needs. The most successful among them typically work with five key professionals on a regular basis (see below). These are the experts who have the capabilities to solve the majority of the investment and advanced planning issues your clients are likely to face as they pursue the next stage of their lives:
MORE: Wealth Management Calls for a Team of Experts | How a Virtual Family Office Can Serve Your Wealthy Clients | Is Your Client’s Wealth Truly Protected? | Control the Level of Risk | How to Flip the Switch to Wealth Preservation | Three Ways to Work Together on Wealth | How to Implement Collaborative Wealth Management | Five Challenges of Liquidating a Business
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- Wealth manager
- Private client lawyer
- Accountant/CPA firm – ideally, a firm large enough to have multiple partners and a deep bench
- Life insurance specialist, who is knowledgeable about current estate tax mitigation strategies
- Property and casualty specialist
Expert #1: Wealth manager. Wealth managers who use the collaborative wealth management process we’ve described focus mainly on helping investors grow and preserve their wealth through the investment consulting process. Then, to help clients meet their advanced planning needs, these wealth managers develop strong relationships with the other professionals listed below.
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