Managing finances is no easy task. There are numerous things to consider when it comes to growing and maintaining wealth. High-net-worth individuals need to have access to an experienced wealth manager that can provide proper guidance concerning investment opportunities, diversification of assets, future planning, management of potential tax liabilities in the event of asset transfer, personal retirement funding, and much more. By doing so, it will be possible to keep the wealth growing at an optimal rate without having too many complications along the way.
Investment and Wealth Management
There are numerous challenges involved in managing wealth effectively, especially among high-net-worth individuals. One example would be people's lack of time to manage their own funds. Some may not even know the difference between a mutual fund and Unit Investment Trust Funds (UITFs). This leads to them missing out on valuable opportunities that would have otherwise benefited them greatly.
Wealth Management Services
- Investment Management Arrangement (IMA). With IMA, you gain access to different kinds of investments by having Metrobank establish and manage a tailored investment portfolio for you.
- Personal Management Trust (PMT). PMT provides personal needs and those of the heirs or beneficiaries. It helps with setting conditions on how the wealth/assets may be enjoyed. When you invest in PMT, you allow Metrobank to establish and manage a trust fund for your loved ones. This service also allows you to set specific instructions on how the earnings from the trust fund are distributed.
- Life Insurance Trust (LIT). With LIT, Metrobank will help you manage the distribution of your life insurance payments to loved ones in the event of your death.
Benefits of a Wealth Manager
A wealth manager is different from a financial advisor. A wealth management promotes financial solutions or services while the financial advisor sells specific plans or products. A wealth manager can be thought of as an expert in managing, preserving, and growing assets that high-net-worth individuals have accumulated over the years. They usually do this by rendering personalized advisory services and products so they can help their clients achieve maximum returns on investment and accumulate more assets to benefit them.
A wealth manager:
Creates a personalized financial plan. Each client will have different needs and financial goals. A wealth manager will meticulously craft personalized financial plans and services that tailor to each client’s goals. Every client’s current assets and portfolio are carefully taken into account when a wealth manager devises a financial plan that revolves around achieving the client’s financial goals.
Eliminates financial stress. Wealth managers are known for various wealth management strategies and understanding financial uncertainties. They also help in eliminating financial stress by providing special arrangements of wealth for distribution of wealth to family members or desired charitable institutions on preferred time or conditions.
Guides financial decisions throughout life. Life can throw people numerous curveballs, so it’s rare for a person to have a single financial goal their entire life. A wealth manager can help clients adjust their financial plans or provide grounded advice on the changes a client needs to apply in relation to their current phase in life. Getting married, having a child, going to college, buying a home, and retiring are just some of the major life moments a wealth manager can offer proper guidance on.
Build a relationship on trust. More than just growing a client’s wealth, a wealth manager is interested in delivering the life their client dreams of. They use their expertise to help clients make better investment decisions and are more than open to formulating these strategies with their clients.
Puts your mind at ease. A wealth manager cares for their clients even when they are no longer around. They can help manage the distribution of a client’s life insurance payments to their beneficiaries in the event of their client’s death.
All in all, wealth management services are a great way to ensure that your finances are in order and that your personal conditions will be followed in the future. By working with a professional who understands the ins and outs of finance and investment, you can put your money into better use and make sure that it's working for you – not against you.
Metrobank offers wealth management services to help you reach your financial goals, whatever they may be. Partner with one of our experienced wealth managers and create a meaningful tomorrow for you today.