What Is Wealth Management?
Wealth management is an overarching process that combines many other financial services into one, managing ones overall wealth, typically high net worth individuals. During a consultation, the financial advisor asks a series of questions about the individual’s wants and needs, then creates a customize financial plan using various financial products and services to meet the clients goals.
Harding Financial Group takes a holistic approach to wealth management. We meet the complex needs of our clients through a broad range of services that are integrated into our financial planning process – including investment advice, estate planning, retirement planning, and tax optimization.
What does a HFG wealth manager do?
Harding Financial Group wealth managers are experienced in planning for the unique needs of affluent clients, including proficiency in avoiding the estate tax. We work hand-in-hand with your other financial professionals, such as estate planning attorneys and CPAs to achieve efficiency in every aspect of your financial health.
An example individual that may hire a wealth manager could be an individual, married or single, with a business and diversified investments in the stock market and real estate, has a retirement account and other financial strategies in mind but no long-term goal. A wealth manager could create a holistic financial plan, identifying potential savings through the business, property taxes, insurance, and more, in addition to guidance for a client’s investments.
HFG financial advisors are CERTIFIED FINANCIAL PLANNER™ practitioners who have distinguished themselves from others through attaining significant professional experience, higher education, and annual continuing education, making them uniquely qualified to meet the needs of high-net-worth clients.
Wealth Management Services
Our investment philosophy at Harding Financial Group is to play defense first. By reducing the amount of market downside captured, the portfolio is positioned for compounding growth far beyond a comparative portfolio that uses the traditional, buy-and-hold approach. In other words, informed, proactive investment management often produces superior results when compared to just “riding the wave” of the market.
At Harding Financial Group, investments are hand-selected by the firm’s President & Portfolio Manager, Mike Harding, CFP®, who carries 22 years of investment management experience. Although no portfolio looks the same for any one of our clients, we use the same Core & Satellite Portfolio Construction method, and for good reason.
Core Portfolio Positions
Every portfolio needs a strong foundation, so the Core of each client portfolio is centered around 5-star-rated equity mutual funds from top 1% fund managers such as T. Rowe Price and Parnassus. These funds complement each other and have longstanding history of above-average returns and below-average risk when compared to thousands of similar funds. Some of the funds we use are not available at all advisory firms.
Satellite Portfolio Positions
Depending on the client’s risk tolerance, financial goals, and the overall condition of the market, Satellite positions are added to the portfolio to achieve diversification, reduce risk, and optimize performance. Satellite positions can run the gamut of market sectors, but depending on the stage of the economic cycle, some sectors perform better historically than others.
During the COVID-19 pandemic, retailers overordered product from overseas because they didn’t have any idea of when they would receive current shipments, let alone the next ones. At that same time, consumers were getting squeezed by historic inflation and rising fuel prices, meaning consumers were spending less on discretionary expenses at retailers. This indicated to us that the Consumer Discretionary sector of the market was a satellite position that we wanted to decrease exposure to, and the Energy sector was a satellite position we wanted to increase exposure to inside client portfolios.
We do not “set and forget” our clients’ portfolios. We have a team of experienced CFP® professional advisors who monitor the markets and client portfolios daily. Our financial advisors have the proficiency to recognize market trends and to make proactive investment decisions on our clients’ behalf.
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See our Frequently Asked Questions below for commonly asked questions about Retirement Planning.