In a recent study by Accenture, it was revealed that a staggering ninety percent of Private Wealth Managers have noticed a significant shift in their clients’ level of knowledge about investments. This extends to both the range of investment products available and the intricacies of the investment process itself when compared to their knowledge five years prior. Evidently, this transformation is indicative of the broader trend in today’s society, where individuals of all age groups are becoming increasingly tech-savvy, empowered, and well-informed.

The digital era has ushered in a new standard for businesses to provide high-touch, personalized services accessible from anywhere, anytime. As the financial industry evolves into a more complex landscape, InVestra acknowledges the need to view its clients from a holistic perspective. This holistic approach requires going beyond individual financial situations and considering the composite values that shape each client’s unique financial journey.

While many professionals in various fields, including private wealth management, financial advising, accounting, law, and banking, profess their commitment to being client-centered, the reality often falls short of the intent. The challenge lies in translating intentions into operational reality. Being client-centered is not just a mindset or ethical stance; it’s also a skill set. It demands the capacity to truly comprehend and empathize with clients, transcending the superficial to grasp the full scope of their financial needs and aspirations.

InVestra employs a Holistic Approach to Wealth Management, a method that entails a comprehensive exploration of their clients on multiple dimensions. This in-depth understanding serves as the foundation for crafting highly personalized financial strategies. The holistic model encompasses various facets that, when combined, paint a comprehensive picture of an individual’s financial landscape.

These critical factors include:

Goals: What are the financial objectives and aspirations of the client?

Lifestyles: How does the client choose to live and what financial implications does this lifestyle have?

Relationships: How do personal and familial relationships influence financial decisions?

Values: What ethical and moral values guide financial choices?

Interests: What passions and interests might impact financial strategies?

Assets: What are the current and potential financial resources available?

Process: What strategies and approaches best suit the client’s unique situation?

InVestra seamlessly integrates and updates these pieces of information into a real-time schematic – akin to constructing a “Mind Map” of each individual. This dynamic approach allows for continuous analysis and adaptation as the client’s financial journey evolves.

Private Wealth Management professionals can employ a range of systematic methods to collect and organize data for financial planning. However, the critical aspect is ensuring the development of a holistic understanding of their clients. By having this comprehensive insight, Private Wealth Managers can offer tailored, effective solutions that align with the client’s intricate financial landscape. This, in essence, is the essence of being truly client-centered.


Important Disclosures:

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. This material was prepared by InVestra for the use of InVestra.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. To the extent, you are receiving investment advice from a separately registered independent investment advisor that is not an LPL Financial affiliate, please note LPL Financial makes no representation with respect to such entity.

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