Defining Your Wealth Management Goals

You may feel financially strong but disorganized. What you need is a realistic framework so you can better seize financial opportunities as they arise.

Before you can create a wealth management plan you need to take a snapshot of where you are today financially. Net worth is measured as the excess of all your assets over all your liabilities:

What You Own – What You Owe = Net Worth

Now that you know what you have, you must decide what you want from the wealth planning process.

Ask yourself:

What are your primary financial goals?

Building and protecting an estate

Charitable giving

Protection against loss/illness

Protecting investments

Ensuring an adequate retirement income

Minimizing taxes

Transferring a business to heirs

What are your estate planning goals?

Use gifting as part of an estate plan

Set up a trust for heirs

Transfer ownership of a business

Use trusts to achieve charitable goals

Set up a private foundation

Use insurance as part of an estate plan

What financial techniques are you interested in learning more about?

Utilizing long-term care insurance to protect assets

How to maximize retirement income

Plan retirement plan distributions

Choose the right type of insurance

Split-dollar insurance plans

Create an asset allocation plan for investments

Create a capital gains strategy

Asset protection planning

Shifting or deferring income

There are many different strategies to manage your wealth. The ones that will work best for you will depend on your unique situation.

Defining your future goals and identifying techniques are the first steps to building a wealth management strategy. To better understand your current place in the wealth management process and create a strategy for wealth accumulation, protection, and preservation and distribution, contact a wealth management advisor today.

Depending on the products and/or services being recommended or considered, refer to the appropriate disclosure brochure for important information on the Northwestern Mutual Wealth Management Company, its services, fees and conflicts of interest before investing or engaging in financial planning services. To obtain a copy of one or more of these brochures, contact your representative.

Northwestern Mutual Financial Network is the marketing name for the sales and distribution arm of The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM), and its subsidiaries and affiliates. David G Ellison is a Representative of Northwestern Mutual Wealth Management Company®, Milwaukee, WI (WMC), a wholly-owned company of NM and limited purpose federal savings bank. WMC is not a broker-dealer or insurance company. All WMC products and services are offered only by properly credentialed Representatives who operate from agency offices of WMC. Representative is a District Agent of NM (life insurance, annuities and disability income insurance) and Northwestern Long Term Care Insurance Company, Milwaukee, WI, a subsidiary of NM (long-term care insurance), and a Registered Representative of Northwestern Mutual Investment Services, LLC (NMIS), 6235 Morrison Blvd, Charlotte, NC 28211-3508, 704-365-2014, a wholly-owned company of NM, registered investment adviser, broker-dealer and member FINRA (www.finra.org) and SIPC (www.sipc.org). Representative may also be an Investment Adviser Representative of NMIS. NM and the Northwestern Mutual Financial Network - Greenville are not broker-dealers, registered investment advisers or federal savings banks. There may be instances when this agent represents insurance companies in addition to NM or its affiliates.

Investment products are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by, NMWMC or its affiliates and are subject to investment risks, including possible loss of the principal amount invested.

The products and services referenced are offered and sold only by appropriately appointed and licensed entities and Network Representatives. Network Representatives and their staff might not represent all entities shown or provide all the services discussed on this Web site. Not all products and services are available in all states.

David G Ellison is primarily licensed in South Carolina and may be licensed in other states.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP, Certified Financial Planner and CFP (with flame logo)®, which it awards to individuals who successfully complete initial and ongoing certification requirements.