You are the CEO of My Wealth, Inc. — so Take Charge!
Wealth Management Unwrapped provides you with the tools and tips you need to take back control and more effectively manage your money. Wall Street veteran Charlotte Beyer conducts a tour of the wealth management industry, guiding you through the complexities and jargon with straightforward, no-nonsense expertise. From choosing an advisor and understanding the fine print, to fulfilling your responsibilities as CEO of My Wealth, Inc. this book offers all-in-one guidance for anyone ready to take charge of their finances. This revised and expanded version has been updated with NEW information, for women investors who seek the best advisor, older investors who confront investment choices, and a discussion on both robo-advisors and the impact of your wealth on your children. The companion website includes new interactive diagnostics to help you get started, assess your progress and then see how you compare to others who face similar challenges.
By stripping away industry tech-speak and the all-too-common self-promotion, you will:
- Understand the difference between advisor and money manager
- Learn the best questions to ask when interviewing an advisor
- Dissect fee disclosure statements and conflicts of interest
- Find out if you might be a do-it-yourself investor and learn why that might make sense for your personality
The wealth management industry has undergone massive change over the past 25 years. New services or products spring up, yet impenetrable language and marketing hype leave you with precious little practical information. In two or three hours of reading made easier thanks to the bold, often amusing illustrations, you will be a far smarter investor, not by learning the jargon but by applying common sense and insisting on clearer communications from your advisor. You and your advisor can create an even stronger and long lasting partnership by reading this book together. Wealth Management Unwrapped is like a powerful GPS, whether you're a novice or sophisticated investor, offering you a much clearer view of how to fully realize the dreams and goals your wealth now affords you.
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About the Author
CHARLOTTE B. BEYER is founder of the Institute for Private Investors (IPI) and co-creator of the first Private Wealth Management curriculum for investors at The Wharton School of the University of Pennsylvania. An Aresty Fellow at Wharton, Beyer is also the recipient of the Lifetime Achievement Award from Family Wealth Report and the J. Richard Joyner Wealth Management Impact award from the Investment Management Consultants Association® (IMCA®).
Table of Contents
About the Author xix
Chapter 1: Who’s in Charge of My Wealth, Inc.? 1
Chapter 2: My Money, Myself 9
Chapter 3: Are You a Do-It-Yourselfer? 17
Chapter 4: If You Don’t Know Where You’re Going, Any Investment Will Get You There 27
Chapter 5: If You Don’t Know Who the Sucker Is at the Table, It Might Be You! 37
Chapter 6: Resist the Razzle Dazzle: How to Judge the Beauty Contest 45
Chapter 7: Transparency, or How I Learned to Love Conflicts of Interest 53
Chapter 8: Courtship Is Usually More Fun Than Marriage 63
Chapter 9: Can This Marriage Be Saved? When to Fire Your Advisor 73
Chapter 10: Aging—Grave Concerns 83
Chapter 11: Born Rich—A Curse or a Blessing? 93
Chapter 12: I’m a Robot, and I’m Here to Help 105
Chapter 13: Women with Wallets 117
Chapter 14: The 10 Principles of Principal 131