WEALTH MANAGEMENT CONSULTANT IN GRAND RAPIDS, MICHIGAN

WEALTH MANAGEMENT

Time is truly of the essence when trying to accumulate wealth, and it is never too early to start investing. Compound interest increases the longer you invest, and the rate and amount which you allocate should depend on your individual case. We would love to sit down and discuss all possible options available to you. Because of stock market volatility, it is important to remember that you have many different allocations available to you versus the traditional conservative or risky approaches.

When it comes to money, most people have the same goal – to have enough money to live the lifestyle they desire. Achieving this goal can be tricky. Most people don’t magically get rich by playing the lottery or experiencing an unexpected financial windfall. It usually takes patience, perseverance, discipline, and hard work – over time. If you don’t understand finance, or how to manage your money the right way, you most likely won’t reach your retirement goals. As an independent financial advisor Grand Rapids, MI we can help you establish a plan to follow, using both age-old traditional techniques, along with innovative cutting edge solutions, which are proven to save, preserve and accumulate wealth. Ask yourself: Are your assets growing? Are they invested in really good products and investments? This is exactly where wealth management consulting firms come into play.

Wealth management is a process that involves financial planning, combined with financial review and counselling. Wealth management Grand Rapids companies help you understand finances and develop a customized strategic plan to help you achieve your financial goals. This helps you make better financial decisions and offer you tax benefits and tax savings strategies. Consider this: If everyone made all the right financial decisions, wouldn’t pretty much everyone be wealthy? Sadly, this isn’t the case. Financial mismanagement can put you in a world of trouble and can affect your reputation as an individual or a business person. In the worst-case scenario, failing to properly manage your resources can cause burdensome debt, or even lead you into bankruptcy.

Wealth management companies help you with managing your finances and protect and grow your wealth. Integrated Financial Services, Inc., is one of the best wealth management consulting firms in Grand Rapids, MI. We work with our clients on a personal level. We offer a variety of financial products and have available some of the best financial professionals in the industry, who help guide our clients in reaching their financial goals. We run our business on the ethos of providing the best in class service to our clients and help them achieve the retirement life of which they’ve dreamed. If you live in the greater Grand Rapids area, shouldn’t you have a Grand wealth management plan for your future?

Why is Wealth Management So Important?

Incorrect management of money can have critical consequences on your life and can even lead to financial burdens and ultimately jeopardize your financial future. How should one manage their assets and property? What investments should one make? What risks should be insured against? Using an independent financial advisor like Integrated Financial Services, Inc., one of the best financial advisors in Grand Rapids, MI, can make a big difference in your financial future. To achieve your financial goals, wealth management consulting firms like ours and the best wealth management Grand Rapids companies can help answer your questions and provide many benefits:

Set a Financial Plan
Possessing a lot of money and not knowing how to protect, invest and allocate it, is an all too common problem for many with wealth. Making a financial plan can set clear and concise goals in motion which are feasible and realistic. With wealth management, a Grand Rapids financial advisor can help you realize what you want from your future and how you can use your wealth to achieve it. We will help you review the various options that are available and allocate your resources in a manner that is consistent with your risk tolerance and time horizons.Setting up a wealth management plan with a wealth consultant, may be the ultimate key to achieve your financial goals.

Reduces Burden & Eliminates Debt
A seasoned financial advisor should understand money, have years of experience and the knowledge to help you avoid common mistakes and setbacks. If you are going through a financially challenging phase, advisors from top wealth management consulting firms can help guide you in making the right decisions. By considering your wealth as a whole, Integrated Financial Services is known as the best wealth management consultant in Grand Rapids, MI can provide you with a list of priorities and provide with a definite plan to resolve the situation.

Customizable
Not everyone is going to have the same retirement goals in life. For some, it may be going on a world tour, while for others, it may be owning a luxurious lake home. For others, having the luxury of time to cultivate their own garden is their retirement dream. The best part about having your own personalized grand wealth management plan created by an independent financial advisor Grand Rapids, MI is that you have top advisors to develop a customized plan tailored for you and your financial goals. This can help you reach your goals faster and while avoiding obstacles.
The best Grand Rapids financial advisors meet their clients personally to update them on their finances, goals, investments, and returns. Are you looking for an independent financial advisor in Grand Rapids, MI? Contact us today.

Frequently Asked Questions

1. Should you save your money or invest it ?

Unfortunately, as a top wealth management consulting firm in Grand Rapids, we realize that there isn’t a simple answer to that question, without an understanding of the bigger picture. Whether you have millions of dollars or far more limited resources, we all have the same problem: A limited amount of money and an unlimited number of things we could do with it. In deciding whether to save your money or invest it, as one of the best Wealth Management consulting firms in Grand Rapids, we can help you by reviewing the many variables to consider: What’s your current allocation between liquid assets and investments. Are you currently on track to meet the financial goals that you’ve set for short, intermediate and long term retirement goals? How long can you afford to invest the funds? What additional funds do you anticipate receiving in the future, to help meet your goals (examples: wages, the upcoming sale of assets or inheritances). If you’ve searched for Wealth Management Grand Rapids – help is only a phone call away.

2. Wealth management - an important income source?

One definition of wealth: “Having the resources to live how you choose – to live your days as you wish.” For many, it comes down to having the cash flow necessary to maintain your lifestyle. Top Wealth Management consultants will tell you in today’s low interest rate environment, safely generating interest is a real challenge. Example: In 1982, a 1-year Bank CD, paid 14% – so, a million dollars would generate $11,667 a month! Today, with a 1-year Bank CD at 0.05%, a million dollars would generate only $41.70 a month! To generate $11,667, we’d need over $23,000,000! This is why you should work with one of the best Wealth Management Grand Rapids firms. The consultants can help you get the most of your resources, while still protecting your capital from loss. The Best Wealth Management consulting firms should offer you a plan to maintain your wealth, while creating the cash flow you need, to “live your days as you wish” – without fear of the future.

3. Top 5 mistakes to avoid in wealth management

Not determining the emotional risk tolerance of their client. Frequently, clients will tell their wealth management consultant that they have a higher risk tolerance than they actually do. This becomes apparent during market sell offs as clients abandon the strategy they previously adopted and look for new consultants.
Integrating a “normalcy bias” into their investment allocations. This means assuming that history will repeat itself. Example: Current bond charts that show impressive historical bond returns, but fail to acknowledge the huge tailwind of 40 years of falling interest rates. In 1982, bond coupon rates were 14% vs. about 1% today. Will bond returns be the same for the next 40 years, in a rising interest rate environment?
Not adequately hedging for the impact of inflation. Due to our recent low inflation rates, few wealth management consultants consider double digit inflation like we had in the 1970s. Often consultant firms fail to adequately hedge against this risk.
Investment strategies are the sole focus of far too many consultants. Top wealth management consultants in Grand Rapids should also address risk avoidance techniques, including insuring against medical, long-term care costs and broad based liability coverage which can potentially leave family’s wealth exposed to devastating losses.
Putting off estate planning. Unfortunately, many wealth management consulting firms focus only on investments and fail to integrate a detailed estate plan. This is how wealth can be passed intergenerationally to heirs in a tax-efficient, seamless transition. We do this by integrating the services of top estate planning attorneys and financial professionals that can tailor make a coordinated plan based on your goals and needs. Integrated Financial Services, Inc. is ready to assist you in putting together a team to meet your needs. Please call us today.

4. Tips: how to increase your income ?

Increasing your income in retirement is a common goal. The best wealth management consulting firms will show you proven strategies that can generate the stream of cash flow you need to maintain your lifestyle. Our wealth consultants will outline ways that you can have the income you need without sacrificing the security you desire. A search for Wealth Management Grand Rapids should take you to a firm that will explain that while all investments involve risk, there are ways to create the income you need while mitigating and avoiding undesired risk. This can be done a variety of ways: from the use of annuities; real estate holdings both direct or indirect; structured or laddered payment designs, where some funds are allocated to an income bucket which is depleted over time, while the balance is accumulating to take over when the income bucket is depleted.

5. The best investment for adults ?

Wealth Management Consulting Firms in Grand Rapids will have different answers to this question. It’s far more nuanced as there’s no one size fits all answer. An expert Wealth Management consultant will first determine your goals and time horizon and risk tolerance, before making a recommendation. For an individual who is speculating with a very high risk tolerance the recommendation will be very different from the recommendation for a person who absolutely does not want to lose money. At Integrated Financial Services, Inc. we help our clients achieve their financial goals with the least amount of risk possible based on their financial and emotional risk tolerance. A good wealth consultant will recall the financial principle: “If two options both solve the financial need, the one that does so with the least amount of risk, is generally, the best option to pursue.”

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WEALTH MANAGEMENT CONSULTANT IN GRAND RAPIDS, MICHIGAN