Wealth management is complex and goes beyond estate and tax planning or a sound investment plan. The process of comprehensive planning, as we see it, requires coordination of 10 elements. Decisions and actions in one can dramatically affect another.
- Cash Flow and Expense Budgeting
- Retirement Income
- Investment Management
- Tax Strategies
- Estate Planning
- Business & Practice Planning
- Risk Management
- Family Governance
Whether you are focused on retirement planning, growing your wealth, legacy planning or family governance, each element affects every client, therefore comprehensive planning is our standard.
Wealth management today is an overused phrase. Many first and insurance agents profess to deliver this highly complex form of financial planning. Advisors must gain a complete and clear understanding of the client’s goals and appetite for risk. This information is necessary in our quest to construct the client’s Investment Policy Statement – a document in which a personal roadmap of the client’s strategic objectives are well documented. This document serves to remind the advisor what is expected. For the client, it creates a set of guardrails that seeks to avoid knee jerk reactions and stay focused on long-term results. OmniStar reviews this document annually in an effort to identify where adjustments may be necessary – ensuring the usefulness of programs and strategies.
Advisors must be able to develop a financial plan without biases. For those who are paid through commission products, it may be difficult to step outside of one’s personal goals in order to focus on that of the client. Because of this, OmniStar delivers Wealth Management Planning in a conflict-free environment. In other words, our planning expertise can be purchased for a fee – that is, no products or selling. The process of unbiased planning must always be ahead of products or implementation of strategies.
We do not attempt to be the right fit for everyone. Instead, we have developed expertise in financial advice among certain groups; professionals, dentists, families, and businesses who face significant financial complexity. Our firm is proud of its services offered and consistently review new services that might enhance the client to advisor relationship. We embrace collaboration, recognizing that one size doesn’t fit all. Listening first and developing trust, financial planning is designed specifically for each client’s individual circumstances. Protecting and preserving our clients’ wealth is given, having the awareness and expertise to make this a reality is why so many have depended on us since 2001.