Building Your Personal Wealth Management Team
As much as I would love to be all things for all people, there are times when I seek the counsel of other professionals to assist with more complex situations that might arise in my client’s financial lives. This might be working with an advanced case design specialist for insurance, an attorney for an estate matter, a property and casualty insurance agent, a real estate agent, a mortgage broker, a CPA, or some other business professional. Having an extensive network has been helpful to me as a financial professional, and a great resource for my clients.
Not a week goes by when someone might ask me, “Hey Todd, who do you use for payroll?” “Who can help with my business taxes?” “Where can I learn more about motorcycle insurance?” I even get “Where did you lease your car?” and “Who painted your house?” It’s important to me to be knowledgeable of resources available in my region. (Please note that these businesses are not affiliated with my firm or my broker/dealer but are separate and distinct).
Sometimes “it takes a village” to address a problem. As investors, you may sometimes need the advice/expertise of a variety of people. Putting together your own “wealth management team” can be helpful. With tax codes changing this tax season, having a well-versed accountant may be advantageous. Seeking to downsize, the combo of a great realtor and a great mortgage broker might be beneficial. Need to update your will or obtain a health care proxy - an estate attorney may be invaluable. You see, these ancillary professionals all can impact your financial life. A well-coordinated strategy may lead you toward resolution.
That’s why I as a financial professional am not too proud to say, “This is not my wheelhouse, but I can connect you with someone who may be of assistance.” Of course, I am thrilled to work in tandem with your professionals with whom you already work. Curating your own “wealth management team” (I can help if needed) is a great way to be prepared for life’s challenges.
The opinions are those of the author. Seek professional advice before taking any action in regard to your finances.
Todd A. Slingerland, CFP®
6 Tower Place Albany NY 12203
(518) 867-4000 x105 email@example.com www.capitalfinancialplanning.net