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Wealth Management
Wealth Management is the process of meeting your life goals through the development and proper management of your financial resources. Life goals may include buying a home, saving for college, planning for retirement, or wealth accumulation. Our Wealth Management services include both Financial Planning and Investment Management on an ongoing basis.
Financial Planning
Financial planning is an all-inclusive process, requiring review and analysis of all aspects of your financial situation. The financial planning process consists of a series of steps taken to help you, our client, accomplish your goals. The first step in the process includes gathering and analyzing data about your income, expenses, taxes, insurance coverage, retirement plans, wills and trusts, and other information pertinent to your overall financial situation. We help you to identify your objectives and then develop a plan with recommendations and strategies for achieving your goals. The next step is to assist you in implementing the recommendations. Finally, the financial plan and recommended strategies are monitored on an ongoing basis for needed changes.
In general, financial planning encompasses one or more of the following areas:
- Cash Flow
- Tax Planning
- Retirement Planning
- Education Planning
- Estate Planning
- Investment Analysis
- Insurance Review
In cases where a targeted review is required, we prepare an analysis and evaluation of a core area of financial planning. Financial Asset Management Corp. (“FAM”) advisors will consult with you to gain better insight into your individual needs, goals and objectives.
Investment Management
Investment management services are provided on a discretionary or non-discretionary basis. Our philosophy relies on a long-term investment strategy determined by your needs and objectives. Your portfolio is designed based on your goals as identified during the financial planning process. Once we agree on the portfolio model to be used, we implement an Investment Policy Statement (IPS) outlining the parameters of how the portfolio will be managed.
Utilizing allocation strategies, our client portfolios are diversified to minimize sector and industry risk. FAM may use any of the following securities to achieve this objective: stocks, bonds, mutual funds, index funds, leveraged index funds, closed-end funds, exchange traded funds and other publicly traded securities.
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