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I find that complexity is the root of many of the financial challenges wealthy families face. Unfortunately, complexity is a sort of “naturally occurring” by-product often created by abundance. Inversely, clarity is much harder to achieve, though its value is enormous.

If you want to experience financial clarity, the path lies in accurate financial data. This is challenging as your wealth grows. I find there are two key relationships that form our financial foundation:

  • What I own vs. what I owe
  • What I earn vs. what I spend

A key part of our role as advisors is to provide you with a consolidated view of these relationships. Ironically, many advisor shops don’t have the ability to provide their clients with this comprehensive view. I’m proud to say that for our clients, we provide the tools to make this possible.

The benefit is more than just knowing you have this data. When used correctly, it enables benefits like:

  1. Identifying and eliminating blind spots that pose risks (tax liability, insurance, wasteful spending)
  2. A foundation for alignment in your family – data is a great referee.
  3. Opportunities to better leverage your resources in the direction of your priorities.

It takes some work to create this view, but the downstream clarity is invaluable. If you need help creating this comprehensive view of your financial life, our team is eager to help.