Wealth management 101: The basics and the benefits
Your wealth is key to your plans, your ambitions and the legacy you hope to leave behind. Wealth management can help you at every stage of your life, whether you want to grow your savings, protect your loved ones or prepare for the next chapter, including retirement. We offer personalized wealth management services based on your unique needs so that you can achieve your goals and make informed decisions about your finances.
What is wealth management?
Wealth management is all about developing a comprehensive strategy to help you build, grow, protect and ultimately transfer your assets. It requires a cohesive plan that includes tax planning, investments and insurance.
Your wealth management advisor will guide you every step of the way. First they’ll learn about your needs and goals. Then they’ll analyze your financial situation and give you personalized recommendations.
Wealth management looks a little different for everyone. For example, most business owners’ work and personal lives are very closely linked. The success of their business can have a direct impact on their retirement planning and insurance needs. Your wealth manager will take all these factors into consideration to determine which strategies are right for you.
After carefully assessing your situation, we’ll draw up a comprehensive financial plan that aims to give you an overview of your current and projected assets. Your roadmap will be detailed but flexible. The idea is to help you seize opportunities as they arise and make adjustments if life throws you a curveball. We’ll update it over time, in step with your stage of life and financial needs.
Why is wealth management important?
Everyone has goals and aspirations, whether it’s contributing to a child’s post-secondary education or travelling the world. Wealth management helps clarify what you need to do to make your dreams possible.
You’ll want to fine-tune your financial plan at key moments in your life, like when you start your career, buy a home, welcome a child or begin preparing for retirement. Your wealth management advisor can help you get your financial house in order for milestones like these—and course correct if something unexpected comes up, like a new job or a health issue. Having a plan that evolves with you can bring peace of mind. It’s important to stay on track if you want to protect your wealth and achieve your goals.
When’s the right time to ask about wealth management?
The sooner you get started with wealth management, the sooner you can start reaping the benefits. For example, during your working years, you might be looking to grow your savings with a personalized investment strategy designed to minimize your tax burden.
Then, as you approach retirement, you might want to use those savings to generate predictable income and start planning how to pass on your wealth.
> Enjoy and transfer your wealth
If you’d like to learn more and think ahead, Desjardins Wealth Management has a new French-language video podcast designed to help you make sense of the financial, tax and legal considerations that matter today and tomorrow. The podcast is presented by a team of top-notch specialists with diverse expertise who share insights to help you broaden your perspective and make informed decisions on topics both simple and complex.
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What are the benefits of personalized wealth management?
Your wealth management advisor gives you personalized recommendations and makes sure all your financial bases are covered. They take a holistic view to help you prioritize your goals and make informed decisions.
Wealth management requires specialized expertise. Your advisor is like an orchestra conductor. They don’t just know which services are available, they understand which combination of expertise is best for your specific needs.
We work with specialists in various fields to deliver recommendations on how to grow your wealth and achieve your financial goals, no matter how complex or ambitious they might be.
What services are included in wealth management?
Wealth management encompasses a broad range of services, and all of them help create long-term prosperity. Here’s an overview of what we offer:
Tax planning
A personalized tax strategy can help you maximize your income and reduce your tax bill. Tax specialists can also help you anticipate the tax implications of your goals, like buying a second home.
Investing
The best investment strategy is one that perfectly matches your financial goals and your tolerance for market fluctuations. Your wealth management advisor can help you determine which of our many investment products align with your profile.
Retirement planning
A retirement projection helps you see what’s ahead by assessing your sources of income and expenses once you stop working. With a personalized strategy that reflects your needs, you can plan tax-efficient withdrawals and preserve your quality of life for as long as possible.
Estate planning
Wills, trusts and bequests are just some of the tools you can use to optimize your legacy and establish wealth transfer instructions that truly reflect your wishes and values.
Wealth protection
A financial security advisor can assess your needs for life, health, critical illness and disability insurance and suggest personalized solutions for business owners. That way, you and your loved ones can be prepared if something unexpected happens.
Financing
Access to specialized financing can help you achieve your goals, whether it’s buying a home or an income property, making investments or expanding your business.
Planning for business owners
Transferring a business is a multi-step process that requires a lot of consideration, from finding the right successor to finalizing the transition. Our specialists can help you determine your business’s value and the right way to transfer ownership so that you can retire comfortable in the knowledge that the company’s long-term viability is protected.
Philanthropy
The Desjardins Foundation offers you the opportunity to create your own Desjardins Philanthropic Fund, so you can provide long-term support for the causes that matter to you.
Whether you’re looking for advice on how to grow your assets, protect your loved ones or plan ahead, contact your wealth management advisor for personalized support.