At Strathmore Capital Advisors, we believe in the importance of a comprehensive wealth management strategy. Such a strategy involves much more than simply how your assets are invested. As we build your investment portfolio, we also want to discuss issues such as taxes, insurance and estate planning. Reason: Decisions in each of these areas can impact the decisions you make in other areas. For example, your investment strategy shouldn’t ignore the role of taxes, and your estate plan should be designed to work in concert with your insurance holdings.
The purpose of a comprehensive wealth management strategy is to avoid the silo effect, which occurs when each component of an investor’s overall financial plan is designed independently from the other areas. The result of this lack of coordination is that certain parts of your financial plan may be in direct conflict to the rest of your plan. By integrating each area of your financial life, you give yourself a greater chance of truly realizing your most important financial goals.