We’ve collected answers to some of the most common questions regarding financial planning services. If you want to learn more about our services at Powell Wealth, please call us at 704-439-0027.
1. What is wealth planning?
Wealth planning involves creating a comprehensive strategy to grow and safeguard your financial assets, tailored to your family’s unique needs and long-term objectives. Powell Wealth will design a plan that incorporates investment strategies, tax optimization, estate planning, and risk management to align with your personal values and financial philosophy. By working closely with a wealth manager who understands your goals and priorities, you can trust that your assets will be managed with the same level of care and diligence as if they were their own.
2. Why would someone need wealth management?
People choose to begin a wealth management partnership for many different reasons. Perhaps managing your finances feels overwhelming or too time-consuming, or you want expert guidance to integrate investments, tax planning, and estate considerations seamlessly. Others simply appreciate having a trusted professional by their side to navigate financial decisions. Although wealth management comes with a fee, the right advisor can deliver value that exceeds the cost by enhancing your investment performance and helping you preserve more of your wealth over time.
3. How can a financial advisor help me achieve my goals?
A financial advisor can help you achieve your goals by providing personalized guidance to clarify your objectives, develop a tailored financial strategy, and navigate complex decisions around investments, and risk management. By acting as a trusted partner, a financial advisor helps you stay disciplined, avoid costly mistakes, and make informed decisions—ultimately increasing your confidence and the likelihood of reaching your financial milestones.
4. How does Powell Wealth add value to their clients?
Wealth managers offer value that exceeds their fees by providing customized financial planning that addresses every aspect of your financial life—not just investments. We help with tax strategies, estate planning, risk management, and cash flow, all designed to enhance your overall financial well-being. Additionally, wealth managers save you time, offer access to unique investment opportunities, and guide you through complex decisions, helping you avoid costly mistakes. Our expertise and personalized approach ensure your finances are managed efficiently and adapt to your changing needs, ultimately helping you build and protect your wealth more effectively than managing it on your own.
5. What strategies can be used to reduce taxes on investments?
The potential to reduce or defer taxes depends on your specific financial situation, but there are a variety of proven strategies that can help. These might include minimizing or delaying income, capital gains, and estate taxes. Additionally, smart techniques such as asset allocation and careful investment selection can help you keep more of your returns by reducing taxes from the beginning. Every approach is customized to align with your individual needs and long-term objectives.
6. How will we work together and what can I expect from our relationship?
At Powell Wealth, our relationship begins with a conversation focused on understanding your unique goals, values, and financial situation. We’ll work closely with you to develop a personalized financial plan tailored to your needs, and we’ll review and adjust that plan as your life evolves. You can expect proactive communication, regular check-ins, and clear, honest advice every step of the way. As your trusted partner, we’re here to answer your questions, provide guidance during important decisions, and help you stay on track toward your goals. Our commitment is to transparency, responsiveness, and building a long-term partnership based on trust and your financial success.
7. Who holds my money and investments?
Your money and investments are securely held in custodianship at Fidelity Investments, one of the largest and most trusted financial institutions in the industry. As your custodian, Fidelity is responsible for the safekeeping of your assets, providing robust security measures, and ensuring your funds are protected and accessible. While Powell Wealth manages your investment strategy and provides ongoing advice, Fidelity handles the custody, recordkeeping, and execution of transactions, giving you peace of mind that your assets are both professionally managed and securely held.
