Individuals that have a tremendous amount of wealth often struggle to ensure that their money is invested wisely and that they are maximizing their potential profit and minimizing the inherent tax liabilities. Rather than attempting to do it on their own, more investors choose to hire a capital management company, as they charge a small percentage to oversee a person’s finances. The following is a look at the top three benefits of leaving finance management to a professional firm.
Philanthropic Advisory Board
Many individuals that have acquired a great deal of wealth enjoy having the opportunity to make contributions to non-profit organizations, which not only helps to increase the financial health of a wide array of socially responsible companies, but it also allows a person to qualify for a substantial tax write off. A wealth management firm will have a philanthropic advisory board that will help a person locate and perform the necessary vetting so they may donate with confidence.
If a person’s wealth includes the assets related to the owning of a business, it is a good idea to work with a professional advisor to create a succession plan. Upon the death of the current owner, assets and management will transition to a designated party or parties and will ensure that the organization remains viable. Most succession plans require the creation of a wide array of contracts and is a project that should only be handled by seasoned financial and legal professionals.
Trust Planning Services
Often a person is concerned with how their wealth will be distributed upon their death, and while one-time cash gifts are a possibility, many investors like having the option of creating trusts. In addition to having a named beneficiary, the owner may also place a number of restrictions on the use of the funds, which will allow their final wishes to be respected.
Managing money isn’t easy, but fortunately, there are firms that specialize in helping individuals safeguard and build wealth. Al Masah Capital Management is a leading provider of financial services and offers a plethora of additional products that allows a person to invest with confidence. Check out their site to learn more and take the first step in efficiently managing any size portfolio.