The current wealth management industry is filled with tactical providers, from brokerage firms, insurance agencies, and investment managers, to banks and online ‘robo-advisors’, each with different motivations and resources. Individually, they deliver fragmented and often incomplete service with very little integration placing the responsibility of aligning short-term and long-term planning on the individual or family.
Overcoming Wealth Management Roadblocks
Many families of wealth have experienced difficulty in clearly defining and attaining the long-term wealth sustainability goals of the family. Recent research suggests these shortcomings can be attributed to the many roadblocks associated with the traditional, fragmented wealth management industry. Examples of these roadblocks include:
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Private family offices are designed to focus on long-term planning for wealth sustainability and can help address these shortcomings but can be prohibitively expensive for all but the wealthiest families. We have designed Quartz to overcome this barrier.
An Alternative to a Private Family Office
Quartz Financial is a comprehensive wealth management firm providing family office services to individuals and families with sudden wealth to generational wealth. Our efficient business model allows us to identify cost advantages as we search for product and service providers for our clients. As the integrator and coordinator of all the wealth affairs of our clients, we are uniquely positioned to execute long-term strategic planning – the financial health of your family is our number one priority.
The Wealth Wheel illustrates the complex wealth management process and the many professional disciplines that may be involved. By functioning as a family office, Quartz accepts the key responsibility of directly providing investment management, financial planning, life and long-term care insurance, and cash management for our clients.
We outsource the other disciplines around the wheel as needed and coordinate everyone’s efforts in the best interests of our clients. If a client does not already have a necessary provider, we will help identify and interview from our network of trusted professionals. This level of coordination and integration is imperative to long-term wealth sustainability.
Quartz Investment Management
What is Most Important to Investors? Beating market returns? If so, which ‘market’ benchmark are you trying to beat? Large domestic stocks? Small company stocks? Or perhaps, international stocks? It’s common for investors to be unsure how to judge the success of their portfolio.
Without specific numbers designed to meet your own personal financial goals, it is difficult to attain clarity. A large part of our job is to help our clients gain this clarity through proper goal setting and parameters designed specifically for them and no one else.
Our Investment Principles
- An investment strategy must begin with a comprehensive financial plan.
- Long-term, strategic views form the foundation of an investment strategy.
- Tactical portfolio outlooks must consider current market factors and conditions.
- Portfolios must reflect each client’s unique factors and situations.
- Strategy implementation cannot be steered by proprietary product options.
- Recognize the effects of costs and taxes on portfolio management.
Financial Planning
Financial planning for wealthy families joins together the essential elements identified in the Wealth Wheel and facilitates the development of a blueprint that successfully aligns a family’s resources with their financial goals and helps identify risks and opportunities. Traditional financial planning may not be enough for wealthy families. Our clients typically come to us with a complex set of questions. They may be more interested in the timing and sources of distributions to fund their lifestyle and other financial goals. For example, many families’ financial plans address questions such as:
How Do You Picture Wealth?
