Good communication before and during the inheritance

Our site is becoming more and more popular and we want to thank each of our readers from the heart. Our goal remains the same: to help you find the financial advisor that suits you best. Despite the growing popularity of the site, we continue to refuse any advertising as this would be a conflict of interest. We remain 100% independent. That's why we only recommend consultants that we have personally tested. We have also done our best to be able to offer different types of advisors (different sizes, different prices and especially the most important geographic coverage). Wealth management advisors are professionals specializing in the management of individual or family wealth. Some companies offer services that cover both individuals (some companies limit their services to what we call high net worth clients, while others are more open to clients with smaller portfolios but with identified wealth potential. ) and business advice. Some others are specialized in one aspect. Some companies also specialize in family patrimony and do not seek out individuals. Their specialty is to maximize the wealth of the family as a whole and to defend the interests of the family before the individual interests of each member. It is not uncommon to see families fighting after a significant legacy, for example. This type of wealth management advisor is ideally suited to these situations.

According to a recent survey conducted by TD Heritage, 44% of lawyers, trust agents and accountants said that family disputes were the biggest threat to estate planning. Good communication before and during the inheritance is also essential to avoid any other problem. Poor communication can lead to unrealistic expectations about the amount of inheritance they will inherit. If you choose a good wealth management advisor, you get advice based on profitability, risk, financial flows, and helpful tips on succession planning.

Women clearly do not have the same behavior as men in the financial field. This is not a prejudice, but rather a proven reality. Women (of course not all) tend to be risk-averse and this has an impact on their retirement. A recent study by the prestigious Cass Business School has once again proved this difference between men and women when it comes to taking financial risks. In this study, academics analyzed the individual attitudes of many groups of people to risk and financial loss. At the microphone of RTL Christine Lagarde, former president of the IMF and now at the head of the ECB, marked the spirit by declaring "If we had Lehman sisters and not only Lehman Brothers, we would probably have carried a little better." However, it would also be possible to say that these Lehman sisters would have had much smaller profits in all the years preceding the bankruptcy of the financial group. Ms. Lagarde wanted above all to highlight the need to have more women in positions of responsibility in the world of finance. She emphasized the lack of risk-taking that seems to be more important for women than for men. In a way, the researchers from the Cass Business School and the University of Bristol abound in the direction of Ms. Lagarde. The study of the Cass Business School led to the following conclusions: • Women tend to have greater risk aversion than men, which confirms the findings of existing research. • Young and older people tend to be more risk-averse than middle-aged people. Young people are particularly reluctant to face financial loss. • Stress plays an important role in financial decision-making. • Risk aversion and loss aversion are even lower as the level of understanding of a person's finances is high. • Upper-class members are less risk-averse and more willing to take risks than lower-class members.

Top Wealth Advisors 2019 - Forbes

New ranking of wealth advisors, this time from Forbes and with a focus on America's top wealth advisors. This ranking focus on the largest companies. What it means is that this specific ranking does not mean that these advisors will necessarily be the best suited for your personal needs. The 250 advisors on this year's list manage nearly $1 trillion in client assets. Among the companies mentioned in this ranking we find: * Merrill Private Wealth Management * Morgan Stanley Private Wealth Management * UBS Private Wealth Management * Zhang Financial * UBS Financial Services What might strike your attention is the presence of Zhang Financial which is undoubtedly less famous than the other institutions. You can visit their website here: https://www.zhangfinancial.com/ Zhang Financial is a fee-only advisory firm which is always a positive thing for the clients. In our own ranking, that you can find here: https://best-worldwide-financial-advisers.blogspot.com/2019/01/Bestindependentfinancialadvisorsworldwidetable.html we also take into account this aspect which we believe is of primordial importance.