Have you recently inherited of money? What do you do next? Perspective from a Bucks County Wealth Manager
Managing inherited wealth can be complex. Who can you trust to help you manage this newfound wealth? How do you know a wealth manger is working in your best interest?
The first step is to find a fee only fiduciary. A fee only fiduciary works exclusively for you and your benefit and can put together a financial plan for you and your family that is free of conflicts of interest A solid financial plan can answer important questions like; Can I retire now? If not, Can I retire earlier? How much debt should I pay off? What is the best way to invest this Money?
A fee only fiduciary works only for you and your benefit as a wealth manager, beware there are others in the investment services industry that do not. If you inherited wealth, you should understand what might motivate an investment advisor. First know that a broker is someone that sells you products, these can be insurance agents, bank employees or work for brokerage firms. Brokers are paid to sell you products that their firm represents, which might not always be in your best interest. Generally, someone who sells products should not be providing you with comprehensive financial advice.
In unfamiliar county you need a guide that you can trust. A guide that is a Fiduciary such as Winthrop Partners, that works exclusively for your benefit and avoids conflicts of interest.
Please contact Thomas Saunders in our Doylestown office to see why a fee-only Fiduciary might be your best choice at 267-361-1689 or [email protected].
Thomas Saunders is the Managing Partner of Winthrop Partners. Prior to founding Winthrop Partners, Tom was Senior Vice President at what is now JP Morgan. His career includes senior and executive roles at Brown Brothers Harriman and First Niagara Bank, a top 25 Bank. Click here to contact Thomas Saunders about your investment and planning requirements.