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Truist Wealth Management: Expert Financial Guidance

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by

Kenneth Keith
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Did you know a Certified Financial Planner (CFP®) credential is top-tier in financial planning? It demands a lot of education, experience, and high ethical standards. This makes sure Truist Wealth Management’s financial advisors are ready to give top-notch advice to their clients.

They focus on investment management, retirement planning, estate planning, and tax strategies. Truist Wealth Management uses its deep knowledge to offer tailored financial solutions. These solutions help clients reach their financial goals.

Key Takeaways

  • Truist Wealth Management is a top provider of full financial solutions.
  • The team of financial advisors holds the prestigious Certified Financial Planner (CFP®) credential.
  • Truist Wealth Management offers expert advice in investment management, retirement planning, estate planning, and tax strategies.
  • The firm’s personalized approach ensures that each client’s unique financial needs are met.
  • Truist Wealth Management’s fiduciary services prioritize clients’ best interests.

Truist Wealth: Comprehensive Financial Solutions

Managing your finances can feel overwhelming. That’s why Truist Wealth offers a wide range of services to help you. We provide investment management, retirement planning, estate planning, and tax strategies. Our team creates custom plans for your financial goals and needs.

Our investment management services aim to grow and protect your wealth. Our experts use various strategies to make a portfolio that fits your risk level and goals.

Every retirement plan is unique. We start by setting your financial goals. Then, we coordinate your investment, estate, and risk management strategies to reach your dream retirement.

Truist Wealth also offers estate planning to protect your legacy and your loved ones. Our attorneys help with wills, trusts, and powers of attorney. They work with our financial advisors for a complete plan.

For those interested in philanthropic services, we can craft a giving plan that matches your values. Our family office services support high-net-worth individuals and families. We offer investment management, tax planning, and more.

Truist Wealth is here to give you the help and guidance you need. We aim to help you reach your financial goals and secure your future.

Activating Your Personalized Financial Plan

At Truist Wealth, we know everyone has different financial goals. That’s why we start with understanding your unique needs and goals. Your advisor will work with you to make sure your financial plans fit just right.

Understanding Your Financial Goals

First, we help you set clear goals for now and the future. Goals might be saving for retirement, building wealth, or getting a new home. By focusing on these goals, we can make a plan to reach them well.

Prioritizing Critical First Steps

  • Look at your current money situation, like your income, what you own, and what you owe.
  • Create a budget that matches your goals and priorities.
  • Find ways to save more and pay off debt faster.
  • Check out investments to grow your wealth over time.
  • Keep an eye on your financial plan and adjust it as needed as your life changes.

With your Truist Wealth advisor, you can be sure your financial plan is set up to meet your goals. It will help you build a strong financial future.

Building Your Financial Dream Team

Getting to financial success often means having a team of financial professionals on your side. Truist Wealth knows how crucial it is to have the right team for your financial goals. This team includes financial planners, bankers, attorneys, and accountants. They work together to make sure your financial plan covers everything from investments to estate planning and tax strategies.

About 70% of adults feel like they’re not good enough at least once in their lives, showing the need for expert advice. Truist Wealth’s coordinated approach can help you feel more secure about your finances.

Assembling Your Financial Dream Team

When putting together your financial dream team, think about these key members:

  • Financial Planner: A Certified Financial Planner (CFP) offers tailored strategies to grow your wealth and reduce risks. Their hourly rates are between $120 and $300, and a full financial plan can cost from $1,000 to $3,000 or more.
  • Banker: Truist’s banking experts manage your cash flow, credit, and loans, making the financial world easier to navigate.
  • Attorney: An estate planning attorney creates wills, trusts, and powers of attorney to protect your assets and ensure your wishes are followed.
  • Accountant: A Certified Public Accountant (CPA) or Enrolled Agent (EA) takes care of your financial documents, tax returns, and strategies to lower your taxes.

With this team of financial professionals, you can create a detailed financial plan that meets your specific needs and goals. This plan will cover everything from managing investments to planning for retirement.

Financial Professional Typical Fees Key Responsibilities
Financial Planner $120 to $300 per hour, or $1,000 to $3,000+ for a comprehensive plan Provide personalized financial strategies, manage investments, and minimize risks
Banker Varies based on services used Assist with liquidity, credit, and lending needs
Attorney Varies based on complexity of legal services Draft wills, trusts, and powers of attorney
Accountant Hourly rates or a percentage of tax refund Handle financial records, tax filings, and optimization strategies

Working with this financial dream team helps you reach your financial goals with confidence.

Financial Planners: Quarterbacking Your Finances

Financial planners, or wealth advisors, are key to your financial success. They have the skills to set and reach your financial goals. They work with a team to manage your investments, retirement plans, estate, and risk management.

Defining and Quantifying Financial Goals

Starting with a financial planner means setting clear goals. You might want to save for retirement, education, or the future. They help make these goals specific and create a plan to achieve them. They consider your needs and goals to make a plan just for you.

Coordinating Investment, Estate, and Risk Management Strategies

Financial planners coordinate your investment, estate, and risk management strategies. They work with specialists to manage your assets and keep your estate plan current. This approach helps avoid tax issues and ensures your financial decisions are effective.

Financial teams often include insurance agents, CPAs, banks, investment advisors, and estate planning attorneys. Working together, they can save you over $40,000 in taxes and increase your pension benefit for your spouse.

Trying to manage your finances alone can be tough. Mistakes can make recovery hard. That’s why personalized advice from experts is crucial.

“Financial advisors are often described as the quarterback of a person’s financial team, coordinating the various players to help achieve the individual’s goals.”

Financial planners are great for anyone with a big portfolio, complex finances, or no time for managing money. They guide you through life changes, offer advice, and make sure your money works for you.

Bankers: Liquidity, Credit, and Lending Experts

At Truist, our personal bankers are more than just tellers. They are financial experts ready to help you with your daily money needs. They make sure your money moves smoothly and help you understand credit and lending solutions. They are part of your financial team, ready to guide you at every step.

Our personal bankers get deep training to know all about our financial products and services. They can help you with everything from checking and savings accounts to loans for big purchases or investments. They give advice that fits your financial goals and needs.

Need help with your cash flow, getting a loan, or boosting your credit score? Our personal bankers are here for you. They use their knowledge in liquidity, credit, and lending solutions to take care of your finances.

At Truist, we value building strong relationships with our clients. Our personal bankers get to know your financial needs and dreams. They offer advice that changes as your life does, helping you make smart financial choices.

Service Benefit
Liquidity Management Optimize cash flow, streamline money movement, and maintain financial flexibility
Credit Solutions Access financing options, build credit history, and improve your credit profile
Lending Expertise Secure loans for personal, business, or investment needs with competitive rates and terms

Trust your financial future with Truist’s skilled personal bankers. They have the knowledge and dedication to help you with liquidity, credit, and lending solutions. They’ll help you reach your financial goals with confidence.

Attorneys: Preparing Legal Documents

Attorneys are key in making legal documents that are part of your financial plan. They focus on wills, trusts, and powers of attorney. This ensures your wishes are clear and legal.

Drafting Wills, Trusts, and Powers of Attorney

Attorneys are experts in estate planning. They help make wills, trusts, and powers of attorney that follow the law. These documents tell how you want your assets to be shared and who will manage your affairs if you can’t.

Working with your financial advisor, your attorney makes sure these documents match your financial goals.

Collaborating with Financial Advisors

It’s important for your attorney and financial advisor to work together. Your attorney knows the law, and your financial advisor knows your money situation and goals. Together, they make sure your legal and financial plans work well.

This teamwork helps protect your wealth and make sure it goes where you want it to.

Attorney Services Financial Advisor Services
  • Drafting wills and trusts
  • Establishing powers of attorney
  • Handling estate planning and administration
  • Reviewing and drafting legal contracts
  • Navigating tax implications and compliance
  • Developing comprehensive financial plans
  • Optimizing investment strategies
  • Providing risk management solutions
  • Advising on retirement planning
  • Coordinating tax-efficient wealth transfer

Your attorney and financial advisor work together to make sure your legal and financial plans match. This keeps your wealth safe and helps you reach your financial goals.

attorneys legal documents

“The key to successful wealth management is the integration of legal and financial expertise. By harnessing the complementary skills of attorneys and financial advisors, you can ensure your assets are protected and your wishes are carried out with the utmost precision.”

Accountants: Tax and Auditing Specialists

Accountants are key in financial guidance. They handle bookkeeping, tax prep, and auditing. Certified Public Accountants (CPAs) are experts who can talk to the IRS for you.

Truist Wealth Management teams up with CPAs for your financial planning. CPAs know a lot about taxes, making sure you follow the rules and save money. Working with your CPA, Truist Wealth can improve your taxes, cut down on what you owe, and find ways to save more.

Certified Public Accountants (CPAs)

CPAs are top accountants, with lots of education and experience. They’re the only ones who can talk to the IRS for you. This means they offer extra help and safety with your money matters.

CPAs do many things, like:

  • Preparing and filing taxes for the government
  • Helping with tax planning and strategy
  • Doing financial audits and checks
  • Guiding on business and accounting systems
  • Providing expert help in court

With a CPA, you know your money is in good hands. They work hard to keep you in line with the law, save you money, and protect your finances.

Service Description
Tax Preparation Preparing and filing tax returns for people and businesses.
Tax Planning Helping with tax strategies to save more and pay less.
Auditing Doing full financial checks and assurance services.
Accounting and Bookkeeping Helping with business operations and accounting systems.
Expert Testimony Providing expert support and testimony in court.

With Certified Public Accountants, you can trust your finances are well taken care of. This lets you focus on your goals with confidence.

Truist Wealth Management: Expert Financial Guidance

At Truist Wealth Management, our team is dedicated to offering expert financial advice. We help our clients reach their financial goals with personalized solutions. Our knowledge in investment management, retirement planning, estate planning, and tax strategies lets us create strategies that meet each client’s unique needs.

Truist Wealth Management is a top wealth management firm, serving over 123,000 clients. Most of our clients are not high-net-worth individuals. We offer a wide range of financial services, with investment requirements starting at $10,000 for some options and $250,000 for others.

We believe in clear and flexible fees. Our investment consulting fees are between 1.45% and 2.25% of your assets each year. Our financial planning services have fixed fees, usually between $2,000 and $30,000. Truist Invest and Truist Invest Pro services have annual fees of 0.50% and 0.85%, with a $90 minimum.

Service Minimum Investment Annual Fee
AMC Fund Select Tactical (Focus) $10,000 1.45% – 2.25% of AUM
AMC Premier (fixed-income) $250,000 1.45% – 2.25% of AUM
Truist Invest $90 minimum 0.50% annual fee
Truist Invest Pro $90 minimum 0.85% annual fee
Financial Planning N/A $2,000 – $30,000 fixed fee

We take our fiduciary duties very seriously at Truist Wealth Management. Our team has disclosed five criminal and 42 regulatory issues on our SEC-filed Form ADV. This shows our commitment to transparency and following the rules.

If you need comprehensive truist wealth management, customized investment management, or expert financial planning, Truist Wealth Management is here to help. Contact us today to see how we can guide you to your financial goals. Let us help you gain financial confidence and peace of mind.

Achieving Financial Confidence

Truist Wealth Management focuses on boosting clients’ financial confidence. They do this by building trust, transparency, and open communication. Their advisors make sure clients get why they’re making certain recommendations. This helps clients feel ready to make smart choices about their money.

Trust, Transparency, and Communication

Truist Wealth Management knows that financial confidence is more than just about money and plans. It’s also about having a strong relationship with your financial advisor. They focus on trust by talking openly and honestly. They also make sure their decisions are clear and keep clients in the loop at all times.

This teamwork helps clients deal with big financial hurdles like the gender pay gap and the money issues after a divorce. They make sure each client’s specific needs and goals are the main focus of their financial plans.

“Truist Wealth’s advisors work closely with clients to ensure they understand the rationale behind each recommendation and feel empowered to make informed decisions about their financial future.”

By creating a space of trust, transparency, and communication, Truist Wealth helps clients take charge of their finances. This lets them gain the confidence they need to go after their dreams.

Finding the Right Financial Partner

Choosing the right financial partner is key to reaching your financial goals. Truist Wealth Management knows every client is different. They take time to get to know you and what you need. This way, they can offer customized solutions that fit you perfectly.

When picking a trusted advisor, look at their skills, past success, and how much they care about your money. Choose a firm with experts like Certified Financial Planners and Chartered Financial Analysts. They can help with investments, taxes, planning for the future, and retirement plans that suit you.

It’s important to pick a financial partner that’s stable and has been around for a while. Go for a firm that’s independent and focused on clients. Firms that act as fiduciaries are great because they must always put your interests first.

Good communication is key with your financial partner. They should be easy to reach, keep you updated on your investments, and check in regularly to make sure your financial plan is working for you.

Choosing a financial partner like Truist Wealth Management means you’re in good hands. You’ll feel secure knowing experts who care about your future are managing your money.

“Trustworthiness is cited as the most important factor in selecting a financial advisor, according to Spectrem Group’s research.”

Retirement Planning with Truist Wealth

Retirement planning can seem overwhelming, but Truist Wealth is here to help. Our team of retirement planning specialists is ready to guide you. They focus on your specific needs to make sure you’re ready for a secure retirement.

Addressing Retirement Questions and Concerns

At Truist Wealth, we know every retirement plan is different. We listen to your goals and challenges to tailor our advice. Whether it’s boosting your retirement income or planning for healthcare, we’ve got you covered.

Ray Hand, our executive vice president, says 65% of people haven’t set clear retirement goals. We help you define your goals and create a solid financial plan to reach them.

John Sullivan points out that many people underestimate their retirement costs. We make sure your financial plan is accurate. This way, you can plan for both your needs and surprises.

Felicia Wilson stresses the importance of updating your financial plan regularly. By reviewing and adjusting your plan, we keep it aligned with your changing life and ensure your financial security.

Whether you’re starting to think about retirement or you’re already there, Truist Wealth is here for you. Our detailed approach and dedication to your financial health mean you can retire with confidence. We help you focus on what’s important to you.

Retirement Planning Insights Key Findings
Retirement Expenses Underestimation Many clients underestimate their retirement expenses, emphasizing the need for accurate financial planning to cover essential costs.
Importance of Regular Plan Reviews A common mistake in retirement planning is not revisiting the financial plan regularly, highlighting the necessity for ongoing adjustments.
Rising Retirement Rates Amid Challenges The pandemic has led to a significant increase in the share of older U.S. adults who are now retired, as reported by the Pew Research Center.
Post-Retirement Work Trends Around 20% of retirees today are working either part-time or full-time, often to live out their purpose, discover new passions, maintain social networks, or earn extra income.

At Truist Wealth, we aim to empower you with the knowledge and strategies for a successful retirement. By tackling your retirement questions and concerns, we ensure your financial future is secure. Let us help you make the most of your golden years.

Philanthropic Services from Truist Wealth

At Truist Wealth, we know how big of an impact giving to charity can have. Our team is here to help you make a difference and leave a lasting legacy. We focus on charitable giving that matters to you and your community.

Looking to start a private foundation or set up a donor-advised fund? Truist Wealth’s experts are here to help. We’ll work with you to match your giving goals with your financial plans. This way, your giving reflects your values and has the biggest impact.

Tax-Efficient Charitable Giving

Charitable giving is not just good for the causes you support, but it can also save you money on taxes. Truist Wealth can guide you through tax rules and help you get the most from your donations. We’ll help you pick the best way to give, whether it’s through a private foundation, donor-advised fund, or other options.

Giving Vehicle Tax Deduction Limits Other Key Considerations
Public Charities Up to 100% of adjusted gross income (AGI) for cash gifts, 30% of AGI for gifts of stock or real estate No mandatory distribution requirements
Private Foundations 30% of adjusted gross income (AGI) for cash gifts, 20% of AGI for gifts of stock or real property Must distribute 5% of average net assets annually, subject to excise tax on net investment income
Donor-Advised Funds (DAFs) 50% of adjusted gross income (AGI) for cash gifts, 30% of AGI for gifts of stock or real property No mandatory distribution requirements, no excise tax on net investment income

Understanding the pros and cons of different giving options helps us create a giving plan that works for you. This way, you can make a bigger difference and save on taxes too.

Engaging the Next Generation in Philanthropy

Truist Wealth believes in teaching the next generation about giving back. We’ll help you and your family develop a giving plan that includes your kids and grandkids. This way, they’ll grow up caring about making a difference in the world.

  • Divide allowances into “save, invest, spend, and give” categories to teach children the importance of strategic giving from an early age.
  • Encourage children to start their own philanthropic initiatives, such as running a lemonade stand and donating a portion of the profits to a cause they care about.
  • Incorporate volunteering activities into family vacations to expose children to different societal needs and the power of collective action.
  • Involve children in the decision-making process by allowing them to research and suggest organizations to support, aligning with their values and interests.

By getting the next generation involved in your giving, you’re teaching them to be generous and socially responsible. This will create a legacy of giving that will keep making a difference for years to come.

“Philanthropy is not about money – it’s about using whatever resources you have at your fingertips and applying them to improving the world.”
– Melinda Gates

At Truist Wealth, we’re all about helping you build a giving legacy that reflects your values. Contact us today to see how our services can help you make a real difference.

Conclusion

Truist Wealth Management is a trusted partner for those aiming to reach their financial goals. They offer a wide range of comprehensive financial solutions. This includes investment management, retirement planning, estate planning, and tax strategies. Their team of experts gives personalized advice and solutions for each client’s unique needs.

They build strong relationships with clients by focusing on trust, transparency, and good communication. This way, Truist Wealth helps clients handle the complex world of wealth management with confidence. Their approach to financial guidance lets clients focus on their financial dreams and secure their future.

FAQ

What is Truist Wealth Management?

Truist Wealth Management is a top provider of financial solutions. They offer expert advice and tailored strategies to help clients reach their financial goals. They focus on investment management, retirement planning, estate planning, and tax strategies.

What services does Truist Wealth Management offer?

Truist Wealth Management provides many financial services. These include investment management, retirement planning, estate planning, tax strategies, and philanthropic services. They also offer family office support.

How does Truist Wealth Management approach financial planning?

Truist Wealth starts with understanding each client’s financial goals. They work with clients to set and measure these goals. Then, they create a plan tailored to help achieve those goals.

What is the role of Truist Wealth Management’s team of financial professionals?

Truist Wealth Management has a team of financial experts. This includes financial planners, bankers, attorneys, and accountants. They work together to manage all parts of a client’s financial plan, from investments to estate planning and tax strategies.

What is the role of a financial planner or wealth advisor?

Financial planners or wealth advisors are key in managing a client’s financial plan. They set and measure financial goals. Then, they develop and carry out a strategy to meet those goals.

How do personal bankers assist Truist Wealth clients?

Personal bankers at Truist Bank know a lot about financial products and services. They help clients with managing cash flow, credit, and lending solutions.

What is the role of attorneys in a client’s financial plan?

Attorneys are vital in carrying out a client’s financial plan. They prepare and update wills, trusts, and powers of attorney. It’s important for the attorney and financial advisor to work well together.

How do accountants contribute to a client’s financial plan?

Accountants, especially CPAs, offer services like bookkeeping, tax filing, and auditing. Truist Wealth works with CPAs to make sure a client’s taxes fit with their financial plan.

What is Truist Wealth Management’s commitment to clients?

Truist Wealth Management is dedicated to giving expert financial advice and personalized solutions. They focus on trust, transparency, and open communication to help clients reach their financial goals.

How does Truist Wealth Management help clients achieve financial confidence?

Truist Wealth’s advisors make sure clients understand the reasons behind each advice. This helps clients feel confident in their financial decisions and future.

How does Truist Wealth Management address clients’ retirement planning needs?

Truist Wealth’s retirement planning experts help clients with their retirement questions and concerns. They focus on maximizing retirement income, managing investments, and planning for healthcare and long-term care.

What philanthropic services does Truist Wealth Management offer?

Truist Wealth’s philanthropic services help clients create lasting legacies. They assist with charitable giving strategies, including setting up foundations or donor-advised funds.

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