The Four Objectives of Wealth
Wealth may mean different things to different clients, but generally we find that people look for wealth to provide them with four things:
- Security
- A comfortable standard of living
- The ability to provide for others during their life
- The ability to leave a legacy (to family or charity) when they're gone
The Wealth Planning Process
The process of balancing and addressing those objectives and issues is called Wealth Planning.
Wealth planning is more than a simple investment analysis or asset allocation strategy. Rather, wealth planning is a multi-step process that clients go through as they make decisions about who will get their assets and when they get them. A properly crafted wealth plan is an interactive process that takes into account each client's unique personal financial situation. Often the plan incorporates input from the client's other advisors, such as accountants and estate planning attorneys, to present the client with a comprehensive, well coordinated plan.
Minster Bank's Wealth Planning Service is a powerful, yet flexible approach that can be periodically updated as a client's circumstances or situation change with time.
Contact a Financial Advisor today about your personal wealth plan.
View our online Personal Financial Planning Guide:
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Securities and Investment Products offered through the Minster Bank Trust Department: * Not FDIC insured * May go down in value * not financial institution guaranteed * Not a deposit * not insured by any federal government agency
