Become The Key Advisor In Your Clients’ Most Important Life Events

Elements of Real Wealth Management

Investment & Retirement, Succession & Estate Planning

By: Evelyn Jacks

PROGRAM: Investment and Retirement Services Specialist, Succession and Estate Planning Specialist, Tax Services Specialist and Business Services Specialist

Competent wealth managers are in high demand but few possess the skills and the processes for delivering this important service. Learn the elements of Real Wealth Management, and how easily they can be integrated into your professional practice. This defined process for building relationships with your clients will enable joint decision-making that results in the creation of sustainable wealth through the execution of tactical plans for the accumulation, growth, preservation and transition of capital on a net, after-tax basis.

WHY THIS COURSE IS TIMELY

Markets are volatile and taxes continue to be the largest single lifetime expense for affluent households. More than ever, clients expect to receive advice that is relevant for the times. They are looking for a “wealth manager” to connect the dots between the “silos” of expertise they may be paying for. Above all, they are looking for someone they trust to provide direction for making important financial decisions about their income and their capital, now and in the future. This course shows advisors how to do so.

CONTENT DESCRIPTION AND KEY CONCEPTS:

Real Wealth Management has three critical components which integrate traditional planning processes with income, tax and estate planning:

1. Real Wealth Management requires an ongoing focus on the elements of accumulation, growth, preservation and transition of wealth in making decisions about income and capital at each stage of life.
2. Creation of Purchasing Power, defined as what you have left after tax, after costs and after inflation, to fund the decisions about the quality of their lives. When it comes to available cash flow, what matters is what you keep, rather than what you have. Therefore advisors must focus on strategies to minimize taxes and costs while anticipating the long-term impact of inflation to effectively manage and minimize risk to savings.
3. Real Wealth Managers provide fully integrated, multi-generational advice by developing relationships with a multi-disciplinary team of professionals who can work together toward common client goals using common analysis tools: the Net Worth Statement, the tax return and the financial plan.

CERTIFIED SKILLSETS

Participants in this course will have a sound working knowledge of the principles of Real Wealth Management, the four elements, and how to apply them to joint decision-making with clients using a Real Wealth Management Process, a process which integrates tax and financial planning in a client-centric manner within the context of ongoing economic circumstances.

• Section A: Chapters 1 to 4: In this section we will lay the foundation of Real Wealth Management by thinking of the work advisors do from a uniquely different perspective: how to help clients achieve affluence in the way they use their money, based on their trigger questions leading to financial decision-making.
• Section B: Chapters 5 to 8: In this section we explore the four elements of Real Wealth Management in depth as part of a strategic process of accumulating, growing, preserving and transitioning wealth throughout a lifecycle approach.
• Section C: Chapter 6 to 12: In this section we take this information and formulate it into specific practice management strategies so that you can begin to implement these concepts into your practice today.

Practice Management Thesis: Comprehensive real life case studies appear throughout the course. Students will be given tools and asked to demonstrate the skills and concepts taught throughout the course.

Exam and Marking Guide: Chapters end with multiple-choice and true-to-life scenarios found online which test the practical application of the key concepts covered in the course. Actual time spent is influenced by factors such as the student's background and individual learning style.

KNOWLEDGE BUREAU TOOLS INCLUDED:

• EverGreen Explanatory Notes
• Knowledge Bureau Calculators
  • Financial Assessment Calculator
  • Income Tax Estimator
  • Marginal Tax Rate Calculator
  • Investment Income Calculator
  • Cash Flow Calculator
  • Registered vs. Non-Registered Calculator
  • Fixed vs. Variable Income Calculator
  • Tax-Efficient Retirement Income Calculator

MARKS ALLOCATION: