A total wealth strategy will always benefit from the support of an objective, skilled advisor whose decisions will not be based on emotion. Much like asking a doctor for medical advice, wealth management is most successful when performed by a disciplined professional who has their clients’ best interests at heart (and hopefully, a decent bedside manner). It’s not only important to work with a professional – it’s critical that the relationship be a good fit. To ensure quality care and a strong partnership, the following are some key considerations and questions to ask:
The headlines about Bitcoin have been impossible to ignore. With so many conflicting perspectives circulating in the media, an informed evaluation of Bitcoin’s investment worthiness is difficult for most to achieve. As tempting as its meteoric rise looks, most financial professionals tend to stay away from products that regularly experience disturbingly huge drops. Bitcoin’s volatility is certainly a deterrent, but here are a few risks that further explain why our long-term investment strategies exclude this particular cryptocurrency:
Recognizing risk vs hype
Less than one third of Bitcoin are in actual circulation – the rest have been purchased for speculation. From a purely numeric perspective, the value of Bitcoin has plummeted over 30% multiple times in the last year. This alone is enough to raise concern about the long-term valuation and stability of this type of investment. On the technical side of things, the blockchain created for Bitcoin has already been challenged by another blockchain technology, Etherum – now the second largest cryptocurrency network. Etherum has created a fork of blockchain cash in order to reduce transaction times and improve efficiencies. The full effect of this on Bitcoin remains to be seen.
When it comes to their investments, our clients know it’s important to look at both the short and the long-term. The long-term is what really matters – health, wealth and happiness coming to life. It’s being in a good position today, but planning for even better, secure months and years ahead. The same theory applies to making investment decisions. We look at long-term trends and incorporate this knowledge into strategies that prove themselves year after year. Here’s a brief overview of the Meta trends we’re looking at in 2018:
As populations and governments make a commitment to use less energy (or at least, move to greener forms of energy such as wind or solar power), we evaluate market impact. We make decisions about investments involving oil and gas, the Keystone XL pipeline, and emerging opportunities in clean energy. It’s not about completely eliminating investments in oil or conversely, a sudden and heavy investment in new technology – it’s about being aware of what’s happening in those industries and making informed decisions.
When life gets busy, it’s easy to lose track of your budget or even veer from your financial goals. Whether you’re a business owner, a professional or a stay-at-home parent, managing your finances requires time and effort that you simply may not have. Enter the financial app: a great way to keep track of your daily spending, investments or business expenses while on-the-go. While Total Wealth Management works with you to handle the bigger picture, these programs may help you feel organized, informed and in control of your everyday cash flow. Here’s a brief introduction to some of the most popular and well-reviewed financial apps available now – we hope you find one that works for you!