What is a Family Office level of service?
How Do You Define a Family Office, and Why is the WMA Team Similar?
A family office is a wealth management firm that provides comprehensive financial, tax, and legal services to ultra-high-net-worth families.
The Wealth Management Accounting Team (WMA) is like a family office because we provide our clients with comprehensive financial, tax, and document preparation services. We work within a more significant financial group as a team of accounting professionals. We provide services to clients with a wide range of wealth levels, from those with investable assets of 100 thousand dollars to millions of dollars.
No matter our clients’ wealth, we provide them with the same high-quality service and attention to detail. WMA works closely with our clients to understand their financial goals and needs and tailor our services to each client. Every client deserves the WMA standard of care and service, regardless of the amount of wealth they have.
Why Do We Believe the WMA Team is Outstanding at Providing a Family Office Level of Service?
Our company has a long history of providing quality financial management services to businesses and individuals. Our experience and dedication to our client’s success set us apart from other firms.
We take a holistic approach to wealth management, considering all aspects of our clients’ financial lives, including their investments, taxes, estate planning, and charitable giving. We believe that this comprehensive approach allows us to provide our clients with the best possible advice and service.
We also have a dedicated professional team that includes financial planners, investment managers, accountants, CPAs, bookkeepers, and customer service representatives. The WMA team approach allows us to provide a superior and unique level of service.
Why Do You Believe the WMA Team Provides a Unique Level of Service That Most Other Organizations Cannot Match?
The Wealth Management Accounting Team is a specialized group of accountants who provide tailored services to high-net-worth, as well as modest-net-worth, individuals and their families. We are committed to closely working with each client making it a priority to understand their unique financial situation and needs. As we learn our client’s goals, a customized plan with several solutions ensures each client will reach their financial potential.
The WMA team’s expertise and dedication to service set them apart from other organizations. Taking time to know each client personally and developing close relationships based on trust and mutual respect enables a long-lasting relationship.
When you think of wealth management, the last thing that comes to mind is a team of accountants dedicated to helping clients manage and grow their money. That’s what the Wealth Management Accounting team provides: a unique level of service that most other organizations will not take the time to match.
From day one, our team members take time to get to know each client and understand their unique needs and goals. They will then work with each client individually to create a tailored financial plan that meets their needs. Whether it’s investing money, saving for retirement, or just getting rid of debt, the Wealth Management Accounting Team can help.
Our commitment to providing top-notch customer service sets our team apart. We commit to always being available to answer questions and provide guidance, no matter how minor the issue. The WMA Team will never pressure our clients into making decisions or buying financial products.
Therefore, if you’re looking for someone to help you manage your wealth responsibly and efficiently, look no further than the Wealth Management Accounting Team!
What Are Some Reasons People Feel They Need to Have a Family Office Level of Service?
Have you worked hard to accumulate your money? If so, do you know what to do with it all? Many of our clients are at a loss while trying to manage their wealth. They may not have the time or knowledge to invest appropriately and may be worried about taxes and other financial risks. That is where our WMA Team can help. Below, we will discuss the top five reasons people need a Family Office level of service. Keep reading to learn more!
WMA is a unique service that provides personalized support to families with complex financial needs. Though there are many reasons people might need our WMA Team, the five most common are:
- Estate planning and administration,
- Tax planning and tax diversification tools
- Investment management and IRA Rescue
- Family governance and business continuation assistance
- Philanthropy and charitable giving tools and opportunities
How WMA Helps if You Desire to Create Wealth
Can You Explain How You Help, Teach, and Assist Clients in Achieving Their Financial Goals?
The key to having a plan is to understand your goals.
A WMA Team member will help develop a financial plan that meets your specific needs and goals. Understanding each client’s clearly defined goals is one of the essential aspects of creating wealth. Taking the time to help each client think through what they want to achieve helps to ensure success.
Please review a few key elements to keep in mind when defining your goals:
- Be specific – Being specific when it comes to goal setting is critical. The more detailed you are, the more likely you are to be successful, and the easier it will be to develop a plan to make it happen.
- Be Realistic – Setting challenging but achievable goals is essential. If your goal is unrealistic, you will get discouraged and give up.
- Set a deadline – Giving yourself a timeline to achieve your goal will help you stay on track and keep you motivated.
- Write it down – Writing down goals makes them easier to track and creates accountability.
- Share your goals with others – The WMA team pledges to help you stay accountable and on track to achieving your goals. We care about your financial success and want to be involved. As you succeed and tell others about our unique help and services, we grow and win also.
The first step is setting your goals, but it’s important not to forget your numbers.
Perhaps you already have a clear understanding of your current financial position. In that case, our WMA team will concentrate immediately on your tax reduction strategy. Conversely, if you are unsure of your numbers, these steps will help you on your way.
- Most important is ensuring that your financial numbers are well-organized and accurate.
- Taking a snapshot of your wealth today as you begin your journey with WMA is imperative to measure your progress. Most clients do not know or have good numbers.
- Your WMA advisor will aid in helping you become organized and understand your numbers and how to measure your progress.
- Taking a close look at your income, expenses, debts, and assets enables your WMA advisor to understand your numbers and create a plan to improve your financial situation.
How Does the WMA Team Apply Proven Wealth-Creating Techniques to Help Me Reach My Goals?
You will need clearly defined goals written down and a current financial snapshot established to put everything into practice. In regard to wealth, there are two main goals: building it and preserving it. You need to understand and master some advanced financial concepts to achieve these goals.
Luckily, there are ways to make these concepts simpler. By breaking them down and taking a step-by-step approach, you can better grasp the ideas and apply them to your goals.
WMA takes pride in making advanced financial concepts simple for our clients and will do all the following to ensure financial success:
- Start with the basic financial time-tested strategies. We help each client understand the basic concepts before moving on to anything more complicated.
- Encourage each client to take one step at a time. We do not recommend trying to tackle everything all at once. Your WMA advisor will break things down into smaller, more manageable pieces. WMA strives to educate our clients to understand and retain information that will be useful for the rest of their lives.
- Work hard to be a resource you can trust. Having a reliable source of information is essential to creating wealth. WMA aims to provide experts in each field needed to create wealth. These fields include accounting, wealth management, asset protection, and estate planning, which help explain things in a way that makes sense to you.
- Teach you to apply what you’ve learned. Once you understand the concepts, using them in your situation will help you see how they work in real life and cement your understanding of them.
- Above all, provide help. Our Fixed Price Agreement encourages clients to ask for help. If you’re struggling to understand, don’t be afraid to ask. The entire WMA team is willing to lend a hand and help answer any questions you may have.
You can use advanced financial concepts to create wealth by following these tips. Taking just a little effort, you’ll be able to master them in no time.
What Services Set You Apart From Other Wealth Management Firms?
accounting and asset protection and have a team of experienced professionals who can provide wealth management and IRA rescue services. WMA’s purpose is to help our clients grow and protect their wealth through sound tax management combined with wealth planning. The following is based on Tom Wheelwright’s book titled “Tax-Free Wealth”: Tax planning is essential to your wealth strategy and growth. It’s not just what you make that matters. It’s what you keep that is most important. Keep tax diversity in mind as you invest. Tax diversity enables tax efficiency, which allows you to save money and make better investment decisions. (Wheelwright, 2018)
How Can the WMA Team Help Increase My Wealth?
Today the financial industry is changing and evolving as never before. New congress bills and IRS regulations affecting your finances, tax, estate, and asset protection are being passed at an unprecedented rate. It seems impossible to keep pace with the latest news and developments. With your WMA Team, you don’t have to go it alone. We stay ahead of the curve and commit to informing our clients through social media, emails, or phone texts of the latest changes. We invite personal calls from our WMA clients to answer any questions they may have. Our team members are glad to take the time to ensure you understand all possible solutions before making decisions.
The following is based on well-known CPA and author Tom Wheelwright’s book titled “Tax-Free Wealth”: Do you have a choice about how much tax you pay? Everyone has taxes to pay. Many people avoid paying taxes or pay very little in taxes legally. They understand or have a team of advisors that understand how the tax law works. The tax law is not only used to raise taxes. The government will use tax law as a tool to shape and grow the economy. The tax code is full of economic incentives to encourage investors and entrepreneurs. (Wheelwright, 2018)1
The WMA Team wants to be your “team of advisors.”
What is the “WMA Standard of Care”?
Our WMA team always puts your best interests first. Because we incorporate tax, estate, and asset protection planning as an absolute necessity when creating wealth, our WMA Standard exceeds the Financial Industry’s “Best Interest” and “Fiduciary.” You can trust WMA when it comes time for financial, tax, and asset protection advice!
What is a Fixed Price Agreement?
WMA’s Fixed-Price Agreement provides ongoing access to the daily accounting and tax and business advice you need to create wealth. With this agreement in place, you will never have to worry about an hourly meter running endlessly. Instead, our program is built around upfront pricing instead of charging hourly rates. This way, you can always be confident you are getting the best value for your money. Our team of CPAs and accountants have substantial experience; you can be sure their advice will enhance your wealth accumulation.
As a Fixed-Price Agreement client of WMA, you will have access to the combined expertise of all our professionals. Whether you need help with tax planning, estate, asset protection planning, or wealth management, we are here to help. Our fixed price agreement means you can budget for your financial needs without worrying about unexpected costs.
Tax planning is a daily, year-round process, not a seasonal event, which is very different from regular tax preparation services. Individuals and business owners can take advantage and create wealth with a WMA Fixed Price Agreement.
Bottom line: The WMA Fixed price agreement gives the freedom to pick up the phone anytime you have a question.
What is Tax Planning?
The quote from Tom Wheelwright’s book “Tax-Free Wealth” illustrates the need for financial planners to understand tax law and the importance of our Fixed Price Agreement (FPA).
“Tax planning is essential to your wealth strategy and growth [emphasis added]. It’s not just what you make that matters. It’s what you keep that is most important. Keep Tax diversity in mind as you invest. Tax diversity enables Tax efficiency, which allows you to save money and make better investment decisions.” (Wheelwright, 2018)1
What is Tax Efficiency?
Tax efficiency is when you minimize your tax liability. Tax efficiency happens when an individual or business pays the least amount of tax required by law by using diverse tax structuring to receive the least amount of taxation. Tax efficiency refers to structuring an investment to get the least possible taxation on investment growth.
What is Tax Diversification, and How does Tax Diversification help?
Tax diversification is a core function that makes our service unique here at WMA. It is exactly like investors spreading risk exposure across asset classes; the same practice is valuable for taxes. Yet, many do not realize that tax diversification is just as beneficial. Diversifying tax exposure will help manage cash flow and increase wealth.
Tax Diversification is an essential part of Wealth Management. While most investors understand the benefits of spreading risk exposure across asset classes, many don’t realize that Tax diversification is just as important. Diversifying tax exposure will help manage cash flow and increase wealth. Creating tax diverse tools today to save on taxes in the future is essential.
 Wheelwright, T. (2018). Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (2nd ed.). BZK Press.