Did you know? By 2030, women will own two-thirds of all wealth in the US. Despite this fact, 80% of women investors refrain from talking about money with people close to them.

We recently asked Gratz Park Private Wealth (an all-female financial consulting firm here in LEX) five questions about wealth management. Read on to hear their answers.

What is wealth management?

When we think of how we work with our clients, wealth management defines the broad + insightful work we do with:

Financial behavior
Investment management, and
Tactical strategies to optimize our client’s goals

How can women learn more about managing their own wealth if they’re not sure when or where to start?

First, think of your money story.
Second, know where you stand.
Third, begin writing down what would make you feel better about your current financial picture.

From there, you can begin the work of putting a plan together and deciding whether to seek advice or start researching on your own.

Who can benefit from wealth management?

Clients that benefit from our approach + processes are generally those that have multi-faceted needs in:

Tax and estate planning
Investment management
Distribution management

…and those who seek advice on most major financial decisions.

What is different in the world of wealth management for women vs. men?

Conversation + communication — we like to understand the feelings behind our client’s finances and what makes them feel they are achieving their financial goals, i.e.:

Feeling safe
Giving charitably
Reducing taxes, etc.

What advice would you give to female Lexingtonians looking to enter into — or grow — their financial career?

Look for strong networks — like Women Leading Kentucky and GPPW’s own Women’s Worth Alliance (a group of women who cultivate networks through their money stories).

Conversations also link us together and what vast knowledge of the corporate world we can share.

Learn more about Gratz Park Private Wealth's services and how to schedule a consultation here.*

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Gratz Park Private Wealth is not a registered broker/dealer and is independent of Raymond James Financial Services.

Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.