A Practical Guide to Finding the Right Relationship

With tax season upon us, and all your numbers in front of you and your accountant, can you tell if your assets are being deployed for better tax efficiency? Is your advisor working closely with your CPA to make smart, coordinated moves and maximize net gains? Are they looking ahead, tax-loss-harvesting and doing all the things that make for long-term success?

A warm embrace of tax strategy is just one of 5 key qualities to insist upon from your wealth manager:

  1. Intimacy – This is a gut thing. And it couldn’t be more important. Does your financial advisor feel really tuned in to you? Do they know your name? Are they listening? Do they feel like a soulmate, or just someone looking for another conquest?
  2. That fiduciary feeling – Not every financial advisor is a fiduciary. But don’t settle for one who isn’t. A fiduciary is ethically and legally obligated to put your interests first. They seek to minimize conflicts of interest wherever possible. It all adds up to a feeling of trust. Insist on it.
  3. A blissful marriage between planning and investing – To create a fruitful investment strategy, you need a sensitive financial plan. The plan comes from you. The more detail it includes about your specific plans, hopes and dreams, the more valuable it is for mapping your future. When it comes to investing, look for intellectual excellence, a track record established over the long term and a sophisticated blend of innovation and fundamentals.
  4. A warm embrace of tax strategy – Every relationship will have its challenging moments. To us all, the IRS will come. Is your wealth manager equipped to deal with the travails of taxes?
  5. Constancy – A great relationship should grow and deepen over many, many years. Will your wealth manager be there for you for the long haul? Will you see the same faces year after year? Will you see the kind of business continuity that makes the future solid and bright, for you and future generations?

Take the first step and download our Guide to Happiness to learn more about the 10 key questions you should ask when selecting a wealth manager.

Private Ocean Wealth Management of San Rafael works to make happy clients and we want to help you make an informed decision. That’s why we created this guide. Working with us is both personal and powerful.