Do I Need a Wealth Manager?

A wealth manager is needed to help navigate life’s financial and estate planning journey. Questions that arise during your journey may be: How do I prepare for retirement? How do I protect my nest egg and principle? How do I plan to care for a loved one? How do I leave a legacy? What is the best way to pass my wealth to future generations or fulfill my philanthropic goals? Do I need to pay more tax if I have stock options? How do I plan for the unexpected? How do I monetize my business? So many more questions we are certain you have encountered….

“Financial advisor” is a broadly used term that encompasses a plethora of talents. Our team offers wealth managers who have schooled themselves and embraced Wealth Management decades ago, which combines investment management, financial planning, estate and tax planning. These seasoned advisors learn all aspects of a family’s financial life, listen to understand what’s important, then draft your plan with the aforementioned facets all complimenting one another. Some advisors focus on investment management solely, while others encompass financial planning. Wilmarth Private Wealth Management in Melbourne Florida offers wealth management services that address planning way beyond budgeting, bill pay or Social Security enrollment. They help find solutions that high net worth individuals face daily, via a holistic approach, while practicing fiduciary responsibility. We consider returns on investments needed, risk level, liquidity needs, income, healthcare, philanthropy and much more. Working closely with your estate attorney and CPA are paramount in providing that trifecta support team for your family.

What Is Fiduciary Responsibility?

Fiduciary responsibility is a legal obligation to act in the best interests of our clients. Our client’s interests come before ours. Always.

1. When You Need Comprehensive Planning

Our Wealth Management Team takes financial planning, investment management, longevity planning, philanthropic wishes, retirement planning, business monetization, tax planning, estate (wills, trusts, etc. through your estate attorney) documents and marries the strategies in each category together. This process helps ensure your financial and estate plan exercises that trifecta of support complimenting one another in support of your family, your wishes and your goals.

Why would you hire a Wealth Management Team or a CERTIFIED FINANCIAL PLANNER^® professional? Understanding the plethora of planning options there are becomes monumental for anyone not trained in financial services. Our wealth managers spend time understanding the importance of all you have built and where you wish to go. They have invested in themselves to obtain degrees and certifications to understand the complexities of wealth and the many options available to succeed in complex situations. There is a deep bench of financial professionals within Raymond James to assist our advisors even further.

Each family (whether one or many) is different. Even if two people have the same goal, the path to each of them is different for several reasons. Our job is to present and vet all options with you, so that you have the tools to make educated decisions and formulate a plan for the potholes and detours life often presents. Moreover, we like to plan for longevity. Tough discussions with our seasoned advisors help navigate many topics that are sensitive. We understand. We’ve done this for a long time.

2. Identify Most Important Financial Goals

It depends on where you are at in your life. Are you building wealth? Are you getting ready to retire? Is maintaining principle more important than growing it? What is your tax situation? Are you a business owner? Is a succession plan necessary? Will you be inheriting money soon? Will you be receiving stock options in the future? A strategy customized specifically for your circumstances, while encompassing the caveats that you outline that are important to your lifestyle while merging it into your estate plan is the beginning of a wealth management strategy. While you may be stellar at saving money, how do you put it to work for you and what exactly is your pain threshold when life’s hiccups happen? How you value and view money is a behavioral platform often instilled early in our lives. It is there where your comfort level with risk, level of generosity and belief system all come into play. From that, we build a “to do” list – and check off one priority after another.

The Solutions Wealth Managers Provide

What do I do with my 401(k)? How do I create income? How do I preserve my principle? How do I plan for taxes? How do I manage the stock options? How do I manage my deferred comp? What does this early retirement package mean for me? Should I take early retirement? How do I pay for my children’s college? How do I pay for home health care? What are insurance costs once I leave my employ? How do I factor in Medicare? When do I file for Social Security for my maximum benefit? How do I pass on my wealth to my children, friends, charities? Are my accounts registered properly? Do my beneficiaries match on all my accounts? Can I afford a lake home? Will I have enough money to travel the world? I’m sure there are a thousand more questions… See what I mean?

Who is Wilmarth Private Wealth Management?

Wilmarth Private Wealth Management of Raymond James Melbourne, FL has a 27-year history of financial and estate planning for families. We spend the time needed to truly understand your needs and motivations. We help manage the details that culminate your unique wealth management plan. Our CFP® and CEP® designations are earned. After investing in ourselves, we utilize it. Our goal is to be a part of your success for a long time, standing by you as we work to achieve your stated long-term goals together. With that, life happens, so we also remain nimble enough to pivot when needed. We serve the continental US. Call us to start the conversation. There’s no charge to see if we fit your needs. Contact us today.

Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. Every investor's situation is unique, and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP^® and CERTIFIED FINANCIAL PLANNER^® in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.