It’s not easy to navigate the complexities of investment strategies and financial planning. To learn the ins and outs of finance, we turn to Foster & Motley, a local Financial Planning and Investment Management firm known for their customized approach that puts their clients’ interests first. Zach Binzer, Certified Financial Planner, shares expert financial insights and answers our questions about Wealth Management.
Q: What is Wealth Management?
ZACH: At Foster & Motley, Wealth Management is a combination of financial planning and investment management, all under one holistic viewpoint of your financial picture. We execute that by providing clients with a credentialed lead financial planner and dedicated investment manager who work together to understand a client's values, goals and risk tolerance. Wealth Management is where portfolio management meets financial planning.
Q: What are the benefits of committing to Wealth Management?
ZACH: Vanguard did a study that suggests that wealth management, or working with an advisor, can add up to 3% value to your assets. Working with an advisor might make it more efficient to achieve your goals, because we do it on a daily basis. We know the rules; we know the players. We keep ourselves accountable to an unemotional objective. Advisors can help you stay disciplined, get out of your own way and keep your emotions out of your financial decisions.
Cash flow planning is another benefit—knowing where your spending money is coming from, whether that's earnings, a portfolio or an inheritance—and planning for that. In lockstep with that comes income tax or estate tax planning. Working with an advisor can add a lot of value in the efficiency of accessing your funds or your capital in a tax efficient way.
You can give other people the burden of managing all of this—another benefit is delegation. We present the analysis, recommendations and options, and you make the decisions. We execute on your behalf. Because we're touching these topics every day, we're sensitive to law changes and rule changes—we can see patterns that may open opportunities for you. We’re focused on it, so you don't have to be. The risks can be significant if you make the wrong decision, so it can be a comfort to have an expert involved.
Q: Who might benefit most from Wealth Management?
ZACH: Everyone with investment accounts that need or want help managing them will benefit. Even before you get to that stage of life—recent college graduates, young adults or children who are just getting established—financial planning is valuable. Good financial planning early in life leads to having a portfolio of assets to invest and grow.
Wealth management can be especially helpful for those who need support with more complex estate planning situations. If you’ve benefited from being the heir of a parent or grandparent, your wealth may be more than you're going to need in your lifetime. We can help make sure that it is passed, whether it be to family, charities or others, in line with your goals and expectations. Good estate planning can allow you to define and communicate your wishes and for your estate to pass to others with privacy, and an understanding of tax consequences.
Q: When is the right time to begin investing?
ZACH: The best time to start, if you haven't yet, is right now—as early as possible. There's an opportunity to invest as early as when you start making your own money or have excess funds to save, but if you didn’t start then, start now.
Begin your Wealth Management journey with Zach Binzer and the seasoned team of experts at Foster & Motley. To learn more about their award-winning service, contact them to schedule an appointment.
Foster & Motley | 7755 Montgomery Road, Suite 100, Montgomery | 513.561.6640 info@fosterandmotley.com | FosterandMotley.com
"At Foster & Motley, Wealth Management is a combination of financial planning and investment management, all under one holistic viewpoint of your financial picture...Wealth Management is where portfolio management meets financial planning."