Iowa Fiduciary

Iowa Fiduciary Services Part 2: Wealth Management

Looking for Fiduciary services in Iowa? The second part that’s crucial to a healthy financial portfolio is Wealth management. Wealth Management is an investment advisory service that combines other financial services to address the financial needs of clients. Here’s what you need to know.

What is Wealth Management?

Wealth/Money Management is oftentimes seen as a holistic approach. In order to meet the complex needs of a client, wealth management is composed of a wide range of services—such as investment advice, estate planning, accounting, retirement, and tax services. Using a consultative process, a wealth manager gleans information about the client’s wants and specific situation, then tailors a personalized strategy that uses a range of financial products and services.

Instead of attempting to integrate pieces of advice and various products from multiple professionals, Iowa-based individuals may be more likely to benefit from an integrated approach. In this method, a wealth manager coordinates the services needed to manage their clients’ assets, along with creating a strategic plan for their current and future needs—whether it is will and trust services or business succession plans.

Wealth Management Strategies

One of the keys to a sound financial strategy is spending less than you take in, and then finding a way to put your excess to work. A money management approach involves creating budgets to understand and make decisions about where your money is going. It also involves knowing where you may be able to put your excess cash to work.

A wealth manager typically develops a plan that will maintain and increase a client’s wealth based on their financial situation, goals, and risk tolerance. Importantly, each part of a client’s financial picture, whether it is tax planning or wills and estates, are coordinated together to protect the wealth of the client. This may coincide with financial projections and retirement planning. 

Wealth managers may give their clients access to a wider range of investments than regular financial advisors, like hedge funds and private equity offerings. The strategy a wealth manager employs should match the individual investor’s risk tolerance and financial goals. After the original plan is developed, the manager meets regularly with clients to update goals, review, and rebalance the financial portfolio. At the same time, they may investigate whether additional services are needed, with the ultimate goal being to remain in the client’s service throughout their lifetime.

At Johnson Wealth and Income Management, our clients receive money management services from designated Iowa Fiduciary advisors. Our mission is to bring intelligence, integrity, and truly individualized value-added investment management and advice to affluent investors, putting the clients first, and to disregard the agendas of Wall Street and the giant firms that dominate the industry. We allocate, manage, and monitor clients’ assets, unlike the typical advisor’s “one size fits all” management approach. As an independent wealth and management firm, we represent our clients and their interests, rather than any specific company. While some financial institutions recommend investment products that are manufactured by the parent of subsidiary business entities, we have no such ties. Our independence is vital to delivering objective, unbiased recommendations.

Final Thoughts

Finding the right financial advisor that fits your needs doesn’t have to be hard. Johnson Wealth and Income Management will give you peace of mind when it comes to communicating the risks that you are taking and how those risks may impact your portfolio. It’s important to note that these factors can vary widely from client to client, as there’s no one size fits all when it comes to financial planning.

A fiduciary must put your best interest above their own. A financial advisor who’s a fiduciary has an ethical duty to recommend the best investments for you. As an Iowa-based fiduciary, Matthew P. Johnson from Johnson Wealth and Income Management seeks to ensure that his clients’ assets are allocated appropriately—across a mix of asset classes. It’s important to meet with us regularly to help with rebalancing your portfolio to help ensure your accounts reflect our latest asset allocation advice and reallocate your assets to reflect changing life circumstances. If you’re ready to be matched with a local advisor that will help you achieve your financial goals, get started now.

For more information on Fiduciary services and portfolio management in the state of Iowa, reach out to your trusted Iowa advisors at Johnson Wealth Income Management here.

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