Wealth Management | Participants | Financial Planning | Advice Topics | Investment Strategy

Wealth Management

Wichita Wealth Management (WWM) provides fiduciary, fee-only wealth management services to individuals, families and small businesses. Wealth Management is an on-going process whereby we manage the client's investment portfolio and provide support for all things financial. The initial process to set up and fund accounts usually takes from two to six weeks.

The fee for Wealth Management normally ranges from .8% to 1.5% of the household investment portfolio value and is paid monthly (1/12 of the annual percentage fee), usually directly from the investment account(s). It is typically a tiered fee, based on the investment portfolio value; the higher the portfolio value, the lower the percentage. Other factors affecting the fee are the complexity of the client's situation and the number of meetings per year.

Wealth Management includes account types such as: individual, joint, transfer on death, IRA, Roth, trust, college 529, UTMA, individual 401k, SEP, SIMPLE, HSA, LLC, S-Corp, non-profit and annuity. It does not include 401k, 403b, 457 or TSP, unless these accounts are rolled over to us to manage.

The wealth management process typically unfolds as follows:

Wealth Mangement

1. Initial Interview

Answers the question: "Does it make sense to meet in person?" The interview is normally done over the phone or via email. Points for discussion:

2. Get Acquainted Meeting

Answers the question: "Do the services you seek match the services offered by WWM?" The meeting usually lasts one to two hours and is at no charge and no obligation to you. We think of this as a chance to get to know one another and dive a little deeper into your financial situation. If you feel that we have a fit and we feel we can address your needs, we will move forward to the Discovery Meeting. Points for discussion:

3. Discovery Meeting

Answers the question: "Do you want to engage WWM for wealth management services?" In some instances, the Get Acquainted Meeting and the Discovery Meeting can be combined into one meeting. Points for discussion:

4. Mutual Commitment Meeting

At this meeting, you sign the Client Services Agreement, New Account Application and any other forms required to set up your accounts and transfer assets.

Our commitment to you:

Your commitment to us:

5. Set Up & Fund New Accounts

WWM submits signed paperwork and sets up, funds and rebalances new accounts. See Wealth Management Participants for details of the players involved in the wealth management process.

As we fund accounts, we focus on the following goals (see Wealth Management Best Practices for more info):

6. Initial Financial Plan (optional)

The Initial Financial Plan is optional and, if requested by the client, includes the following phases.

  1. Gather documentation and develop goals.
  2. Review data and goals.
  3. Analyze data and goals and develop financial plan.
  4. Present financial plan.
  5. Implement recommendations (part of On-Going Wealth Management).

7. On-Going Wealth Management

The path to financial peace of mind