What is Wealth Management?
According to the textbook definition, wealth management, also referred to as cash management, is simply looking at one’s income and expenses. If one’s income exceeds expenses, then they are considered to have positive cash flow, while if their expenses exceed their income, they have negative cash flow. Hopefully the income exceeds the expenses, and then it becomes a question of how that additional cash flow is deployed.
How a Wealth Management Advisor Can Help You
M&A takes wealth management to another level. We like to develop and review a client’s balance sheet, which lists all their assets and debts. Unlike many financial advisors who focus on the assets, we turn our attention to the clients’ debts, as that is typically the area in which we can offer the greatest improvement in one’s cash flow and overall financial health. In fact, reviewing a client’s balance sheet tends to be one of the first things we do in any review meeting, particularly in the early years of a client relationship. We seek methods to assist in debt reduction and/or ways in which clients can refinance their debt to reduce the amount of money they pay each month and overall their lifetime to other financial institutions.
Why Hire Menninger & Associates as your Wealth Management Advisor
As they say, time is money. If you find yourself constantly moving ‘check on investment portfolio’ to tomorrows to-do list, then you can benefit from a wealth management advisor. You have other responsibilities and important events in your life that take up your time. By hiring Menninger & Associates, you can stop worrying about your invest portfolio and trust that when the market shifts or changes, M&A is on top of it.
At M&A, we are experienced and certified professionals that love what we do. We take pride in not only helping our clients, but also educating them on their investments and marketing trends. If you are in need of wealth management services, give M&A a call today.