Integral offers two levels of wealth management service, depending on your financial circumstances;
Full Scope Wealth Management
This is our most comprehensive wealth management offering. The process starts with a ‘tip-to-tail’ review. A long range financial strategy is developed and documented. The strategy accounts for all factors that might have a bearing on your financial position, now or in the future. Beyond the portfolio, issues considered might include, for example, a pending business sale, a divorce, an inheritance, a bad investment, an unrealized tax liability, establishing a family foundation, etc.
The comprehensive nature of Full Scope Wealth Management demands a methodical process. In most cases the Integral advisor calls extensively all of the wealth management disciplines – Advanced Financial Planning, Investment Counselling, Risk Management and Relationship Management (see ‘Wealth Management – Defined”). Integral advisors work in conjunction with their client’s tax, legal and other experts to fashion integrated solutions.
Full Scope Wealth Management clients typically receive formal quarterly or semi-annual updates from their Integral advisor to track progress against plan.
Essential Wealth Management
Beyond their investment portfolio, many clients only need advice on a specific issue, or set of issues. Common examples include; developing a retirement plan, assessing options for insuring a risk, setting up an educational trust, exploring options for income splitting, etc.
Essential Wealth Management uses the same basic methodology as Full Scope Wealth Management. The primary difference is that Essential Wealth Management clients have fewer ‘moving parts’ in their financial profile and the solutions they require are generally less complex.
Essential Wealth Management clients typically receive formal semi-annual or annual updates from their advisor to track progress. However, the frequency of contact is generally determined by client preference.
WEALTH MANAGEMENT – DEFINED
Independent of your circumstances, a competent financial advisor must have a command of four interconnected disciplines to help you reach your financial goals;
Advanced Financial Planning – calibrates financial and retirement goals in four key areas; wealth enhancement (capital growth), wealth transfer (estate planning), wealth protection and charitable giving.
Investment Counselling – is astute management of investments. It generates the best available after-tax rate of growth on capital, consistent with the client’s tolerance for risk. Competent investment counselling eliminates unnecessary risks, unnecessary fees and unnecessary taxes.
Risk Management – assessing risks that could threaten health, life, income or assets. Insuring against those risks, where and when appropriate.
Relationship Management – developing an effective and trusted relationship between client and advisor. The advisor must also have the ability to collaborate with the client’s tax, legal and other experts in pursuit of the client’s true priorities.