Author Archives: Karen Scottsman

A Review of Private Wealth Management

When it comes to the provision of the private wealth management services, there are many firms that one seek their assistance. Private wealth management is concerned with helping clients in achieving their wealth management goals. The firms in charge of providing these services, aim at ensuring that the clients are provided with advice, especially on investment management. In order to make this a success, the firms work closely with their clients in order to clearly understand their investment goals.
private wealth management
This article will direct attention to the different private wealth management firms that one can look up for when in need of wealth management services.

Information on private wealth management

Private wealth management basically refers to the delivering of financial services and products by the advisory team. They guide their clients on how to manage their wealth, just as the name suggests. When it comes to choosing a wealth manager, there are certain elements that one needs to take into consideration. First, one has to understand the functions of a wealth manager. They include providing advice on retirement planning, legal advice, risk management, investment management and much more. This means that a wealth manager has to ensure that he/she is able to meet the client’s financial goals.
On the other hand, one has to take into consideration the fees involved. A good wealth manager should work towards meeting the financial goals of a client, but at the same time developing himself/herself. This demands that the manager and the client have to work closely in order to make it easy in venturing into the investment world. When one wants to determine if the wealth manager is the right one, he/she is advised to ensure that he/she finds it comfortable working with the private wealth management personnel. It is important to consider the ways through which the manager is paid. This entails fees or payment based on commissions depending on the number of transactions.

Additional details on what to look out for in a wealth manager

One has to ensure that the wealth manager, he/she picks offers value. Moreover, the manager has to be able to ascertain the client’s personal goals when it comes to private wealth management. One has to make the financial goals clear to the manager in order for him/her to give the appropriate approaches.
On the other hand, one has to determine the type of services that he/she pays for the fees involved. This requires making a comparison of the different services provided by the private wealth management firms.

Conclusion on the firms to seek help

One can seek the help of Private Wealth Management at Heathrow. This firm has been trusted by many clients when it comes to providing the appropriate wealth management advice. This is attributed by the great staff that the firm has. Goldman Sachs is another firm responsible for offering financial advice to clients with wealth management needs. Any firm has to work closely with its clients in order to develop strategies, especially on investments.

A List of the Top Wealth Management Firms

When it comes to offering the financial services to the clients, then seeking the assistance of the top wealth management firms is a good step to take. These firms are known to offer reliable services and this has created the essence of ranking them in order to make it easier for the clients when selecting a partner to work with.. When it comes to ranking the wealth management firms, there are certain factors that are taken into consideration. The factors of consideration include the assets under management, number of years in business, number of trained and certified staff and the past five years of annualized growth.
top wealth management firms
This article will give a list of the top wealth management firms and focus on the various services that each of them offers.

A listing of the top wealth management firms

This ranking mainly relied on the assets that were under management in order to come up with the list of the firms. This means that a firm with the greater assets under management took the top position, and the same was followed until the ranking was completely done. Moreover, the ranking made sure that the contact information, location and average size of the account were indicated as well. At the top position is Creative Planning. This firm has the highest number of assets that are under management. Moreover, it has an account size that amounts to about $10 billion.
Halbert Hargrove comes in the second position with an account size of $4 billion. Wescott Financial Advisory Group takes the third position and it has reported a significant growth over the years. This firm has an account size of $2 billion. It is followed by Burt Wealth Advisors with an account size of $500 million. When it comes to this form of ranking, there are many firms that have been left out. This is as a result of raising complaints and they had to be chucked off. However, there is another ranking that has been done, but it is not based on the assets under management.

Using profits as a basis for ranking

In this list of the top wealth management firms, the ranking is based on the amount of pre-tax profit. According to the 2011 reports, at the top position, is the UBS and this has been categorized based on the amount of pre-tax. When it comes to the amount of pre-tax profit, it has an amount of $2.9 billion and this was generated from the wealth management activities. There have been many controversies, especially in the ranking of UBS at the top because there have been reports on its aggressive costs in the recent years.
49% of the UBS wealth management assets comes from the clients in the western hemisphere, 9% come from Swiss clients and 22% from Europeans.

Conclusion on the various top ranked firms

The history of the Bank of America shows that it is the parent company of Merrill Lynch. It has reported pre-tax profits amounting to $2.6 billion and this makes up the 16% of its total profits. In conclusion, some people may have varying ideas when it comes to ranking the top wealth management firms. Above all, different authors and scholars may have different ideas on what to use as a basis for categorization.

Details on Leadership Coaching

Leadership coaching is very demanding across the globe and this is because it has been found to be very effective. It is essential in coming with the organizational structure, especially on administration. With the right leadership coaching, the organization enjoys the stable and effective management. In order for organizations to grow, they basically need the appropriate organizational changes brought about by coaching.
leadership coachingThis form of coaching is meant to bring about the correct changes that will ensure that the staff is able to realize its potential as well as opportunities.

How leadership coaching works

In order for the desired outcomes to be realized, the leadership coaching embraced has to be of the right format. This means that the coach has to come up with strategies, which are the key to good outcomes. First, a coach has to start a conversation with the client in order to bring the sense of openness. Moreover, the coach needs to get rid of all possible limitations towards achieving the desired change. A coach has to be closer to the client in order to bring out the calmness and friendliness needed for achieving the organizational change.
A good leadership coach has to ensure that a good relationship is established between him/her and the party involved. However, the coach has to be driven by three key principles in order to find it easy to deliver the desired results. A coach has to have an empty mind and this refers to the allowing the client to express himself/herself on that he/she wants to achieve. This also refers to working towards ensuring that the client gets what he/she wants without having to hold back. The coach should not only be an instructor to the client, but instead he/she has to be the partner throughout towards attaining the outcomes.

Things to observe as a leadership coach

A leadership coach should never be reactive, but instead he/she has to embrace non-reactivity as a principle. Leadership coaching requires that the coach has to meditative and quiet. However, this does not mean that the coach should not react to the actions of the client, but there are limits to be observed. Instead of being over-reactive, a coach has to perceive the needs of the client in order to respond. Moreover, the leadership coach has to be very mindful because there are high chances that it lead to a wiser judgement.
When the coach is non-reactive, this becomes a meditation point for the client as it allows them to explore all possible options until a complete sense of growth is achieved.

Conclusion on leadership coaching

The last principle under leadership coaching is permissive attention. This means that the coach is supposed to help the client in getting rid of al possible distractions along the way. In order for a client to stay focused, the leader has to be focused as well. Basically, seeking the services of a coach is to make it easy for one to be focused on the goal, thus the leadership coach has to stand as a role model.

Information on Professional Coaching

Many people seek professional coaching for different purposes, such as football coaching, gym and much more. However, the aim of seeking the services of a coacher is to get help in doing the particular activity with a lot of ease and according to professional advice. There is also business coaching, which is meant at running the business operations to ensure profitability.
professional coachingOther people have decided to try being professional coaches and this has been a success. This is because of the great demands for the coaches based on the experience that one has acquired.
This article will highlight the various professional coaching options available and outline the reasons as to why it is essential to seek coaching services.

Details on professional coaching

Business coaching has been found to be very effective by many employers. They are meant to motivate their employees and increase their effectiveness. Moreover, it helps them in being more creative, become responsible and grow professionally. If one decides to become a coach, then he/she has to ensure that he/she is able to meet the client’s coaching needs. In order to become a good coach, one has to have the proper communication skills as well as the leadership elements. Coaching can be done for different purposes and this will determine the relationship to be developed between the parties involved. For instance, if a person is a football coach, he/she must ensure that he/she is able to take control of the exercises and the players adhere to the instructions.
Many people have the argument that one does not have to undergo academics in order to be a coach. However, this is not the case because in order to become a coaching profession, one has to undergo training as well. If one has the aim of becoming a professional coach, one has to work towards being exposed to more experience.

Additional details on coaching as a profession

If one decides to become a coach, one has to be driven with the following aims of coaching; guiding vision, urging excellence and empowering the parties involved. A coach has to ensure that the client is able to meet his/her goals. On the other hand, the coach has to focus attention on his/her client in order to get the desired results. This adds to one’s individual performance as it also gives the player the encouragement to continue with the exercises.
Other people have personal coaches hired for different purposes, such as helping the client on the weight loss programs. Others have coaches for training purposes, such as boxing, wrestling and much more.

Final details on professional coaching

One has to determine if coaching is right for him/her as well as his/her company. This has to be done while focusing on the desired accomplishments. Once one has decided on what he/she wants to achieve, this makes it easy to work with a professional coach. The coach will come up with the strategies for achieving the desired outcomes. In conclusion, coaching can be delivered in different manners, such as assessments, appreciative approach, models, principles and much more.