Vision and attention to detail are the two main foundational principles that build the framework of wealth management.
Vision is essential because every great wealth management plan needs to have a cohesive vision from start to finish to be able to reach your individualized financial goals. First and foremost, this includes a vision of who you are and where you are going as an investor. This requires vision to see the current economic conditions, the ability to see through the nearsighted fog of the capital markets, and all the way through to the real future opportunity that will help you build and sustain true wealth. It requires the conviction to stick to a plan through difficult times, and the agility to adjust a plan to changing economic trends.
Attention to detail is also a crucial part of a great wealth management plan. Although a plan flows out from our vision in investing to a greater extent than many other endeavors, attention to detail is of paramount importance. Simple things such as looking for funds with the lowest expense ratios, and still delivering a proper risk-adjusted return can have an enormous impact. Additionally, attention to the detail of the taxation of certain holdings, and which types of accounts they are in, can also have a large impact.
The WEALTHMARK difference:
- We believe there is no perfect investment.
- We embrace the power and efficiency of index funds and low-cost exchange-traded funds (ETFs) in areas of the market that are broadly traded and information is readily available and well disseminated. In these parts of the capital markets, index funds and ETFs can be a very efficient instrument for the job. *ETFs and Index funds carry risks including loss of principal. As with all investments, one should consult the prospectuses to be aware of the risk.
- We are not afraid to think and act contrary to the crowd. This can often mean taking profits from a position that has seen a large run-up in price that we feel may be unsustainable, or through research when we believe the fundamentals do not support such a high valuation. We are also not afraid to seek out underappreciated securities or sectors that we believe have been out of favor, but have good fundamentals and thus the potential for growth.
- We embrace the potential impact of holding individual stocks and securities. Although we are not day traders, nor will we day trade your account, we think it makes sense to own great profitable companies that have a compelling growth story.
- We believe you deserve the best! Just as we believe there are areas of the market that have strong market efficiency, we believe that there are areas that are much less efficient, and in those areas, we want to hire great managers of funds with strong research teams and expertise to oversee those portions of the portfolio.
Set up an appointment today.
We'd love to set up a time to hear about your goals.