At Hemington Wealth Management, three important elements define our business model.
We are fee-only, client fiduciaries, and comprehensive in our approach.
How do we define ‘comprehensive’? We define true wealth management in a specific way: For us, true wealth management consists of investment consulting plus relationship management plus advanced planning. IC: Investment consulting is the management of investment portfolios as well as consulting on all of our clients’ assets, wherever they are held. RM: Relationship management involves three key tasks: first, fully understanding the clients’ critical needs and meeting those needs over time through a consultative process; second, assembling and managing a network of financial experts; and third, working with our clients’ other professional advisors such as their attorneys and accountants. AP: Advanced planning addresses the wide range of financial needs beyond investment consulting. It consists of four areas: wealth enhancement, wealth protection, wealth transfer and charitable giving. Wealth enhancement means managing clients’ assets to get the best possible return, commensurate with their risk tolerance and applying strategies to do so while minimizing taxes as much as possible. Wealth protection services are designed to shield wealth from death or disability, litigants, creditors, children, in-laws and ex-spouses. Wealth transfer services include identifying and facilitating the most tax-efficient way to pass assets to heirs. Charitable giving services include helping determine appropriate giving levels in light of other goals as well as evaluating various giving strategies and vehicles.WM = IC + RM + AP