There are three cornerstones of wealth management, according to Guillaume Jalenques de Labeau and his team at wealth management firm Mansartis. As the Chairman and CEO of Mansartis, a company that has provided financial services and investment solutions for more than 30 years, Mr. Jalenques de Labeau is an expert on wealth management and has a team of skilled experts working below him. According to this team, there are three cornerstones of wealth management that everyone should live by: understanding of your financial needs, analyses of your financial situation and structure, and a tailor-made solution.
1. Understanding of Your Financial Needs
Before anyone can build a strong financial house, whether we’re talking about an individual or a corporation or any other entity, they will first need to understand their financial needs. Individuals and organizations typically meet with a portfolio manager to discuss these needs when they begin working with a wealth management firm like Mansartis. Oftentimes, people and families and companies don’t even have a solid set of goals in mind for their wealth. Simply knowing you want to grow your wealth isn’t enough. In order to gain a true understanding of your financial needs, you must first be honest about what you’re trying to achieve with your investments. Where do you see yourself and/or your organization heading in the future? What do you need to do with your wealth to achieve those goals? Understanding the answers to these questions is an essential first step in the wealth management process.
2. Analyzing Your Financial Situation and Structure
Once you (and your adviser) have a solid grasp of your financial needs and goals, then you can begin analyzing your current situation and the status of your financial structure in order to better meet those needs and achieve those goals. This means going over all the financial statements associated with your wealth or the wealth of your organization, and carefully examining the structure of your financial house. Only after thoroughly checking into every corner of your financial house can your portfolio manager effectively advise you on your global allocation of assets. Without careful analyses, it would be virtually impossible to determine the acceptable level of risk for your investments, the appropriate investment horizon, inflows and outflows, etc.
3. A Solution Tailor-Made for Your Needs and Goals
The third cornerstone of successful wealth management is a tailor-made solution. This is why the first two steps are so important, because without a comprehensive understanding, it would be virtually impossible to structure an investment portfolio that aligns with your needs and goals while fitting into your current financial situation and the overall structure of your financial house. The team at Mansartis brings together tax and estate planning specialists to work with portfolio managers at this juncture, to ensure the development of a solution that works for the individual or organization in question.
With these three cornerstones in place, then and only then is it possible to maintain a truly comprehensive and global approach to wealth management.
