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To create our optimal financial world, each of us want to create more success and more wealth to take care of the people we love, the causes we care about, and hopefully make a difference in the world. To do that, we need to work with the right professionals. In this short video, we’ll share with you what we call our wealth management hierarchy to help you make sure you're making the right choices.

We’ll begin at the base of the pyramid with Investment Advisors. Investment advisors typically have a single focus: they’ll advise you on investment opportunities, invest your assets and manage your portfolio. You won’t receive the comprehensive wealth management that would maximize the probability of achieving all that's important to you.

The next level on the wealth management hierarchy is Financial Advisors. The practices of most financial advisors are built on money management (Manage your money). In addition to managing your money they may reactively deal with other financial needs (May react to other needs) that you may ask them about as those needs arise. In other words, they may or may not provide you with proactive input (May not be proactive) about other services and qualified professionals to help you with important considerations beyond managing your money.

Moving up the hierarchy to Wealth Managers—the services they provide will be more extensive (Extensive level of service). Most wealth managers are focused on what we call the Big 5 Goals (Focused on Big 5 goals):

1. Helping you make smart decisions about your money, which includes investing
2. Mitigating taxes
3. Taking care of your heirs
4. Protecting your assets from being unjustly taken through litigation and divorce, and
5. Charitable giving

To provide you with this more extensive level of service, most wealth managers maintain a network of highly qualified professionals, each of whom have a high level of expertise in one or more of these important areas. For many high net worth individuals, this will be the right level (Right level for many). But what we find is so many stop at this level of the hierarchy, and they hit the ceiling of what we call “good enough.” But is it OK to be just good enough? We think it’s possible to do even better by having the best of the best.

And that brings us to what we call the Virtual Family Office (VFO). Now, In the past, if you had a net worth of $150 million or more, you could create your own single family office by hiring a staff of financial professionals who would work full-time just for you to make smart decisions about your money so you could achieve all your financial goals. However, most of us don't have $150 million. Thankfully, with today's technology and access to the best of the best resources we now have Virtual Family Offices (or VFOs) that provide a very comprehensive focus in order to maximize the ability to achieve not just the big five goals (Maximize ability to achieve “Big 5” goals and…) we talked about (making smart investment decisions, mitigating taxes, taking care of your heirs, protecting your assets from being unjustly taken through litigation or divorce, and charitable planning), but also your lifestyle as well so that we can design our wealth to support the quality of life that we want, take care of the people we love and the causes we care about, and really make that difference in the world. While the VFO may not be right for everybody, the important question is: Is it right for you? Find out by first visiting https://www.vfoag.com for more information.

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