- 25 Sep
The Next Generation of Wealth Advisory
“Financial services at the highest levels are in shakeup mode, which is a good thing if you are a millionaire or an entrepreneur in the wealth management space.” – Drew Hendricks, Inc.
At FourStar Wealth Advisors, our goal is to invest the full life cycle of an investor, to help them live a full and complete life. We do this using our unique “Build. Live. Share.” approach to wealth management: We assist our clients, at all phases of life, to BUILD a strong life by best efforts and practices at managing resources, to LIVE and enjoy those resources, and to SHARE those resources as they desire once they no longer need them.
Just as life’s journey takes one through many different changes and phases, so too does the investing and wealth management landscape change over the years. Sometimes these shifts are gradual, other times abrupt. Sometimes progress occurs and recedes in cycles; in other cases, a landmark change can be lasting and influential for generations.
As a Wealth Advisory firm on the forefront of the industry, we have observed that now is a period of significant change and growth for the fields of wealth management and financial planning. We are all heading toward a new future – one that presents remarkable opportunities for investors and advisors alike.
For instance, consider that:
1.) More people need wealth management and financial planning services.
By 2021, an estimated 18 million Americans will be worth seven figures or more, according to data from Inc. At the same time, this group is skewing younger. As Forbes notes, the next few years could see “quite possibly the largest generational wealth transfer in human history,” as baby boomers age and millennials inherit assets.
2.) Technology is changing client expectations.
Across all industries, and certainly in wealth advisory, automation and AI are on the rise, becoming more and more prevalent and important to the marketplace. In fact, some estimates project that automation will help advisors manage more than $1 trillion in total assets by 2020. As a result of these and other technological innovations, clients expect processes to be faster and more streamlined, transactions to be more transparent, and advisors to be more available and responsive than ever before.
3.) The media landscape has changed.
Today, we all have powerful computers sitting not just on our desks, but in our pockets at all times. The rise of smartphones and social media is leading to huge shifts in the wealth advisory space. Clients are moving online to interact with their wealth advisors, especially early on in their journey, when it’s time to research firms, select advisors, and follow up on recommendations. Of this group, 35% conduct their interactions with advisors on some kind of mobile device; 30% of consumers are even open to working with an advisor remotely, using technology to connect with an advisor who does not live near them.
As for social media? According to statistics from PwC, roughly half of all ultra-high-net-worth people use Facebook regularly. As of 2017, the average adult spent roughly seven hours a week on social media, according to Fortune. And today, individuals are just as likely to watch an online video, listen to a podcast, or read a digital article as they are to open a newspaper or watch TV.
As the investing landscape changes, it’s important to ask: Are you working with a wealth advisory firm that is not just playing catch up, but staying ahead of the curve when it comes to innovation, client service, and technology?
The team at FourStar Wealth Advisors utilizes the latest technology and a broad range of investment solutions to ensure that each client has the proper tools and resources to put them in the best possible position for every stage of life’s journey.
At FourStar Wealth Advisors, we pride ourselves on being part of the next generation of wealth advisory – for clients and advisors alike.
As a firm on the forefront of wealth management and investment innovation. FourStar Wealth Advisors offers a large suite and expertise for problems that occur for high-net-worth clients, whatever their unique wants and needs. We offer unparalleled expertise and a smooth process, with customized wealth planning to help our clients achieve their highest goals. We offer full service solutions, backed by technology that makes hands-on interaction and communication simpler.
At the same time, it’s important to recognize that as the world changes, investment and wealth management strategies need to adapt to keep up. Our advisors are always immersed in the the latest news, trends, and changes in the industry, and bring this cutting edge thinking to our clients. We offer unique tools and expertise in the areas of private and alternative investing, including:
- Philanthropic Planning
- Executive Planning and Restrictive Stock
- Real Estate
- Private Investing
- Angel Investing
- Venture Capital
This emphasis on freedom, flexibility, and forward-thinking carries over to our advisors, as well. FourStar Wealth Advisors offers enhanced goal planning for advisors, to help them achieve their growth objectives. Along with superior tools, a sophisticated financial planning suite, and a flexible advisor model matrix, FourStar also offers enhanced media opportunities that provide advisors a platform to have superior interactions with their clients through:
- Social Media
Does FourStar Sound Like the Right Fit for You?
Whether you are accumulating wealth or investing for income, solidifying your retirement plan, or devising a distribution approach that meets your lifestyle and legacy goals, FourStar Wealth Advisors can help you define what is most important to you and then formulate the strategies that are suited for your needs.
Many paths can be taken to accomplish the things you want to accomplish. Our goal is to help folks and families articulate those wants, needs, and desires to live a full and complete life. It is to this end we pledge our sacred honor.
Have any further questions? Would you like to get in touch? Please feel free to give us a call or send us a message.
General Advertising Disclaimer
This article is provided by FourStar Wealth Advisors, LLC (“FourStar” or the “Firm”) for general informational purposes only. This information is not considered to be an offer to buy or sell any securities or other investments. Investing involves the risk of loss and investors should be prepared to bear potential losses. Investments should only be made after thorough review with your investment advisor, considering all factors including personal goals, needs and risk tolerance. FourStar is a SEC registered investment adviser that maintains a principal place of business in the State of Illinois. The Firm may only transact business in those states in which it is notice filed or qualifies for a corresponding exemption from such requirements. For information about FourStar’s registration status and business operations, please consult the Firm’s Form ADV disclosure documents, the most recent versions of which are available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov/
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