Wealth Management for Entrepreneurs: 6 Ways a Wealth Manager can Help you

Business owners are unique in a number of ways, but when it comes to their money, they want the same thing: They want to better-secure and better-manage their hard-earned money. And while many entrepreneurs may think that there’s no point in handing over assets to be managed by someone else, there are many reasons why entrepreneurs should consider making use of the services provided by a wealth manager – the trusted one, that is.

photo credit: 401KCalculator.org
photo credit: 401KCalculator.org

Here are 6 ways a wealth manager can help you in securing your wealth:

1. Diversifying

Diversifying your wealth is always a good idea, and especially for an entrepreneur, whose wealth is often concentrated in one asset, their company. It’s important to have assets in a range of different places as it means that should one fail, you still have others to fall back on.

A good wealth manager can help you diversify your wealth by recommending investment vehicles that suit your needs and financial goals.

2. Personal Wealth Objectives

You need to think about what you want from your life right now and what is needed from the wealth that you have. Your wealth manager can help you set personal wealth objectives, and make sure that you stick to the plan.

3. Investment Personalities

How you evaluate and take risks in your business translate differently when it comes to wealth management, so you need to understand that it might equal a different outcome, as the results are often out of your control. This is especially true in markets that are outside your expertise.

Thinking about the way you handle your finances can help you invest in a way that is better aligned with your goals.

The wealth manager is the expert in this area – they are the ones responsible for knowing the markets, so allowing them to steer the ship is often necessary for success.

4. Thinking About Your Goals

Creating goals for your personal wealth that are separate from your business objectives is essential. This is an important part of wealth management, as once as these goals are understood an investment strategy can be built around them.

Think about what you’re trying to achieve with your wealth, and how your financial goals align with your personal life goals. When do you anticipate retiring, and how much do you need/want to retire on? Your wealth manager can help you align your goals and create an action plan for you to pursue those goals.

Retirement fund
photo credit: www.LendingMemo.com

5. Creating an Investment Strategy

Initially, you can do these things on your own, but opportunities often emerge from experience. You do need a strategy to capture the opportunities. With that said, creating an investment strategy will need to be done with an investment manager, as they will have the knowledge and expertise that you don’t. This is where your financial exposure to your business and your investment portfolio needs to complement each other. For example, as an entrepreneur your wealth is usually locked up in your business, and therefore not very accessible, so your investments need to be accessible enough to serve as a cushion against recessions.

6. Reviewing Your Investments

You should review your strategy along with your investment manager to make sure that it is working towards your goals as it should.


Choosing the right wealth manager is crucial, as he/she is responsible with your assets. With that said, it’s only logical for you to seek experienced manager with proven track record. You don’t want your assets managed by a questionable wealth manager with his/her own hidden agenda.

To get started, you might want to look for recommendations and referrals from fellow entrepreneurs.