The hardest Jigsaw puzzle in the world consists of 18,200 pieces.
Making the pieces of your 15 page brokerage statement fit maybe just as difficult. Stressed by confusing brokerage statements? You’re not alone. According to a recent survey by Siegel & Gale1, one out of three investors say their brokerage statements are difficult to understand and even more challenging than cell phone guides. Yet to create and maintain financial health,you need quick and easy access to all of your invested assets.
The challenge becomes more difficult when you have multiple brokerage accounts,where each statement looks completely different.
The challenge intensifies with the additional stress of not being able to locate and update related paper based estate planning, insurance, and legal documents.
You have entered the Information Overload Zone.
As a wealth manager, an important part of my job is to manage assets. That’s why I’m proactive in managing all the information that relates to my clients’ financial health. For example, I know, if their Power of Attorney is up to date, or if their beneficiaries on their IRAs are still current. I’ll to make sure there life insurance policies are still competitive. Then it is my obligation to find a simple way to communicate all of this information in a streamlined way.
As a wealth manager, our clients have online access to all of their brokerage accounts, (not a good idea having multiple accounts-more to follow), as well as access to their own secure digital vault where important paper documents may be scanned and shared with other trusted advisors and family members upon a client’s request.
After all, if my primary physician doesn’t have access to all of my medical records, how can he make the right diagnosis? How can he communicate with me so I can understand the state of my physical health?
It is no different regarding your financial health.You select your wealth manager based on trust, competency, caring and commitment.Then you make sure he has the technology and expertise to provide you with a consolidated of all the details.
After all, what good have I done if your portfolio doubles every seven years only to get wiped out because of one missing piece, such as poor estate planning, or a lack of disability insurance. That’s why we offer clients a simple streamline consolidated view of everything they own, with daily value updates, along with a secure digital vault for non-investment assets.
If your current relationships, are not viewing all of your information, providing you with a way to aggregate all of your accounts, checking, savings, and more, than my question is: Are you being taken care of properly?
The wealth management community as a whole needs to bemore proactive in providing a complete, consolidated view of a client’s financial health. The work cannot be limited to investments alone and should not be limited to what the wealth manager manages.
Our number one priority is the complete financial health of our client. Not having access to all of the various pieces of your financial world, and making sense of it, maybe hazardous to your health. MoneyCapsules® maybe your prescription.