Wealth managers work with clients to develop a comprehensive financial plan that takes into account their financial goals, risk tolerance, time horizon, and current financial situation. This plan serves as a roadmap for managing and growing their wealth over time.

Wealth managers help clients build and manage investment portfolios tailored to their financial goals and risk tolerance. This may involve selecting appropriate investment vehicles such as stocks, bonds, mutual funds, and alternative investments.

Wealth managers help clients minimize their tax liabilities by implementing tax-efficient investment strategies, taking advantage of tax-deferred accounts, and identifying tax deductions and credits.

Wealth managers assist clients in planning for retirement by estimating future income needs, recommending appropriate retirement savings vehicles such as 401(k) plans and IRAs, and developing withdrawal strategies to sustain their lifestyle in retirement.

Wealth managers help clients plan for the transfer of their assets to heirs and beneficiaries in a tax-efficient manner. This may involve creating wills, trusts, and other estate planning documents to ensure that their wishes are carried out and their assets are protected.

Wealth managers help clients identify and mitigate financial risks such as market volatility, inflation, and unexpected life events through diversification, insurance, and other risk management strategies.

Wealth managers focus on preserving and growing their clients' wealth over the long term by implementing disciplined investment strategies, regularly reviewing and rebalancing portfolios, and staying abreast of changes in the financial markets and regulatory environment.