“Wealth management is about how you invest and grow your assets, but it’s about more than that, encompassing vital tax services and important estate planning issues as well.” The Portland Business Journal brought together a panel of wealth management experts encompassing a variety of disciplines to provide some insight on how families can make the most of their assets. Arnerich Massena investment advisor, Reegan Rae, Certified Private Wealth Advisor®, joined the discussion as a panel member.
The resulting article,“A wealth of options for smart financial planning,” by Pete Danko, chronicles the forum’s dialogue. In a Q&A format, panelists answered questions on topics including common wealth planning mistakes, tax strategies, choosing advisors, managing generational wealth, and charitable giving.
For example, Ms. Rae helps to explain why families might benefit from working with an advisor to help manage their wealth: “JP Morgan put together some data points and what it shows is that an average investor trying to go it alone, annualized over the last 20 years, earned 2.1 percent… Your traditional stock and bond portfolio, a 60% stock and 40% bonds, returned 7.2 percent. This shows you that individuals on their own are woefully underperforming,” She discusses how to go about finding that help: “What we’re looking for is an alignment of values and a shared investment philosophy. I also think the reputation of a firm is something to consider.”