Edgewater Asset Management - Wealth Management

What is wealth management? Perhaps it would help to explain first what wealth management is not by introducing the differences between wealth management and financial planning.

A Financial Planner generally creates a plan that is the focus of their work. When you work with a financial planner, they will probably suggest an asset allocation model and any number of mutual funds to fit those classifications. Financial planners are also concerned with insurance coverage and possibly an estate plan, but as financial planners are usually not lawyers, they are unable to put an estate plan in place for you.

An Investment Advisor manages portfolios from an asset and liability perspective. When you work with an investment advisor, they should devise an investment strategy and policy statement to work with your long term plans and goals. Investment advisors usually make active decisions on your investments and how they are financed. They advise clients on wealth management and wealth creation.

We at Edgewater Asset Management are Wealth Managers. We manage investment portfolios and oversee or advise on the total wealth environment of a client. This covers everything above and includes more understanding of family dynamics, wealth transfer, management, control and often philanthropy. At the highest level of service, the wealth manager becomes almost like a personal office for a client or family -- paying bills, hiring and firing managers, service people and other professionals.

For EAM, the plan is part of the process, but we do not get paid to do plans. We manage assets and advise on a number of the wealth management issues. Because we have a limited number of clients, we can tailor our service to meet the needs of each one.

If you are interested in having Edgewater Asset manage your wealth, contact us today about qualifications.