Valuing Your Values

WEALTH PLANNING STRATEGIES

Valuing Your Values: A Case Study in Wealth Strategy 

At NewEdge Wealth, we believe that the complexity of our clients’ wealth requires more than just creating a financial plan. We seek to work with clients to build a comprehensive wealth strategy. By our definition, a wealth strategy encompasses not only the typical components of financial planning (including retirement planning and education planning) but also incorporates considerations such as generational estate and wealth transfer strategies, philanthropic plans, risk management, banking and lending, business succession planning and tax planning. Also, as important as it is to create a wealth strategy, it’s equally essential to make sure that the next generation understands the plan, which can be accomplished through education and family meeting facilitation.

When working with families through this process, we have found that there can be a difference between establishing a good wealth strategy and a great wealth strategy. A good wealth strategy helps keep you on track to meet your financial goals and objectives. But a great wealth strategy helps keep you on track and incorporates your individual and family values in every facet of your overarching wealth strategy.

Values are important. We make decisions based on our values every day, even if we don’t consciously recognize them. For example, imagine you are faced with two choices: whether to purchase a coveted luxury item representing “pleasure” in your value system or donate funds to a charity representing “obligation” in your value system. The one you choose directly reflects which value you prioritize more.

Why is it important to understand the values that drive you as you go through the wealth strategy process? When your values are not aligned with your plans, you can often feel that something is just not right, but you cannot pinpoint the problem. This lack of coordination with your values can result in multiple revisions to your documents, which can become not only costly and time consuming, but your documents may never adequately reflect the legacy you want to impart to your family.

Perhaps the easiest way to understand how values play into planning is through a case study we have created.

 

Robin Petty Managing Director and Head of Wealth Strategy

Robin Petty

Managing Director and Head of Wealth Strategy | NewEdge Wealth

Read Robin’s Bio

DIGITAL DOWNLOAD

Valuing Your Values: A Case Study In Wealth Strategy

Valuing Your Values, a White Paper from NewEdge Wealth

Fill out the form below to request your copy of this insightful white paper.

 

* indicates required
Current NewEdge Wealth Client?

Articles, Webinars and Events

Fearless Women: Women in Cannabis

Fearless Women: Women in Cannabis

The cannabis industry is changing rapidly and the conversation amongst investors is no longer taboo. With the legalized cannabis industry now projected to exceed $43b in revenue by 2025, the space is rapidly gaining attention.

read more
Playbook for Market Volatility

Playbook for Market Volatility

Periods of market volatility always raise two questions: how much further down do we have to go and what actions should we take in response? Unfortunately, the former cannot be known with certainty and is outside of our control; however, the latter is within our control.

read more
The Ideal Transaction

The Ideal Transaction

Joined by NewEdge Wealth’s Ghislain Gouraige and Robin Petty, the panelists discuss best practices for entrepreneurs looking to sell their business, real-life success stories and pitfalls, and what they can do to prepare for the deal process.

read more
An Update on the Fixed Income Market

An Update on the Fixed Income Market

Municipal bonds, the mainstay fixed income security for retail and ultra high net worth investors, started 2022 as “expensive” when measured as a percentage of Treasuries. That changed in a seeming blink of an eye.

read more
Fireside Chat: Market Update with Lee Cooperman

Fireside Chat: Market Update with Lee Cooperman

Listen in as Rob Sechan, CEO and Co-Founder of NewEdge Wealth, and Lee Cooperman, Chairman and CEO of Omega Family Office, Inc., and Investment Advisory Board Member of NewEdge Wealth, discuss their general market thoughts and what the possible catalysts could be for a significant market decline.

read more
The Ten Surprises of 2022

The Ten Surprises of 2022

The definition of a “surprise” is an event that the average investment professional would assign a one-out-of-three chance of taking place, but these are events Blackstone believes are probable, having a better than 50% chance of occurring.

read more