CHAPTER 4The Importance of Integrating Tactical and Strategic Wealth Management

As currently structured, the wealth management industry provides tactical wealth management services to the clients it serves. Families of significant resources often employ wealth management teams comprising some combination of attorneys for estate planning, entity formation, and tax planning; accountants for recordkeeping, tax planning, and tax compliance; financial planners for cash flow, investment management, tax planning, and insurance; investment managers for portfolio management, asset allocation, security selection, and performance reporting; insurance agents/brokers for life, health, property, and casualty insurance planning and product selection; and bankers ...

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