Wealth management is quite straightforward when we look at it from two perspectives. Firstly from the individual seeking the service, wealth management is essentially the process of solving and enhancing his or her financial state of affairs. From the manager’s perspective, wealth management is their ability to deliver a range of financial services and advice to a client.

It is a commonly held belief that wealth management services are focussed solely around investment advice when this is really only one area of wealth management. Oftentimes individuals seek out these services when a particular need arises, such as when they need investment advice, however, wealth management services are holistic, they involve the coordination of all the services needed for an individual to manage their money and plan for their own and/or their family’s current and future needs.

An essential component of wealth management services is the relationship between the company and the client. A high level of trust is inherently involved in the relationship as clients will have unique financial needs that wealth managers must be able to understand and then deliver returns on. A key success factor in the relationship between wealth managers and their clients is to deliver services in a consultative manner that are client-orientated.

When you might need a wealth manager

Some people may never seriously consider the services that wealth managers can provide because they think that financial questions they have are insignificant or because they feel they can handle financial issues on their own.

Sometimes these courses of action are not necessarily the best options and hesitating to contract the expertise of a professional may delay you reaching your financial goals further. We have put together some of the general indicators that suggest you might need a wealth manager.

1. You are recently married

One of the first questions most newlyweds need to ask themselves is to combine finances or not. This can be an overwhelming issue to address as there are often emotions to contend with, paperwork to update, cash to keep track of and debts to pay off. As a couple you will also want to establish your financial goals for the future. A wealth manager can provide valuable and impartial advice in these instances and can help couples to circumnavigate financial disagreements.

2. You feel lost 

This is a common reason why individuals seek out wealth management services. Consider the state of your personal finances now, you might be paying off loans, contributing to your retirement fund, saving for emergency situations or just enjoying life, no wonder people can feel lost or stressed when it comes to delegating funds to all of these competing goals. A financial advisor or wealth manager can help you to organize your current finances and to work with you to create a sort of financial road map for where you want to be in the future.

3. Money isn’t your thing

Some people either dislike the idea of managing their money or they lack the necessary skills to be able to do so but they still want to generate a financially stable future for themselves. This is where the professional services of a wealth manager come into the equation, simple as that. A wealth manager will work with you to understand your unique financial situation and where you want to be in the future, before providing you with a fresh perspective and an actionable strategy on how to achieve your goals.

Do you want to live the life you really want? The team at Infinite Wealth can provide the education, direction and on-going support you need to reach your financial goals. Get in touch with us today on 08 9438 6333 or click here to contact us.


The information provided is of a general nature and is not intended to be constituted as financial advice. We recommend that you seek independent advice from qualified professionals before employing any strategies outlined.