The 5 Meetings of the (True) Wealth Management Process

 

Flow chart of process

Why each is necessary.

By Anthony Glomski

As discussed in Collaborative Wealth Management: Defining the Framework, it’s in vogue for financial services workers to call themselves wealth managers or wealth advisors. But, research shows that only a small fraction of these workers really provide clients with a complete and consultative approach to managing their complex financial lives.

MORE: Protect Your Clients’ Assets | Even Entrepreneurs Must Diversify | When Clients Cash Out: Four Smart Financial Moves
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Regardless of which acronym(s) you have on your business card after “CPA,” one way to assure clients and prospective clients that you’re a true wealth manager is to have a carefully defined wealth management process in place.
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Collaborative Wealth Management: Defining the Framework

3 key components for helping clients achieve financial success.

By Anthony Glomski

Just like starting a business or building a practice, most of your successful clients know that nothing truly valuable is free or easy. Same goes for their pursuit of financial freedom. It will take hard work, discipline and smart thinking to overcome and solve those challenges.

MORE: Protect Your Clients’ Assets | Even Entrepreneurs Must Diversify | When Clients Cash Out: Four Smart Financial Moves
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But what most Type-A business owners, executives and professionals don’t realize is they don’t have to do it alone. That’s where you come in as your client’s most trusted advisor. Will you be ready when they reach out to you for help?
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Protect Your Clients’ Assets

Digital visualization of a blue alarm clockGet the plans locked down.

By Anthony Glomski

Let's look at ways to help your clients minimize taxes when they sell their business, to avoid leaving money on the table and to reduce concentration risk.

MORE ON LIQUIDITY: Even Entrepreneurs Must Diversify | When Clients Cash Out: Four Smart Financial Moves
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Here we’ll take a closer look at two common missteps that business owners and their advisors make during the exit process – and how to avoid them.
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Even Entrepreneurs Must Diversify

Also: Don't let them undervalue themselves.

By Anthony Glomski

Based on my years of experience helping successful entrepreneurs, as well as my research and interviews with experts in the area of successful business exits, I have identified key financial challenges that entrepreneurs who are about to cash out must address.

MORE ON LIQUIDITY: When Clients Cash Out: Four Smart Financial Moves
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The idea is to ensure that you can help them make a smooth and successful transition from where they are today to where they want to be post-exit. READ MORE →

When Clients Cash Out: Four Smart Financial Moves

How to put your clients in the best possible position.

By Anthony Glomski

There are over 28 million businesses in the United States today. While the odds of being highly successful remain long, many businesses that do succeed are often worth far more than their owners imagined.

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The main reason for that disconnect is that owners are laser-focused on growing their business; they’re not in the business of buying and selling businesses like investment bankers are.
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