FAQs
What is the Wealth Management Institute?
WMI is the one of the most comprehensive financial planning and money management firms in the Mid-Atlantic region. Our professional experience spans a diverse array of investment initiatives, including:
• Money, Cash Flow & Asset Management
• Life & Long-Term Care Insurance
• Business Succession & Continuation
• Tax Planning & Management
• Retirement Planning & Pension Plan Design
• Estate Planning
How do I begin working with Wealth Management Institute?
If you have investment assets of at least $200,000, a net worth of at least $500,000, are committed to achieving financial success, and recognize the value in delegating personal financial planning to a professional, simply give us a call to get started.
What information do I need to provide for the creation of my financial plan?
We understand that managing personal finances can be a difficult task for some people. That’s why we’ve made the process as simple as possible. To get started, we need your latest investment statements, your most recent tax return, and a little information about you, your goals, and your income.
How often should I update my financial plan?
We recommend that clients follow the guidelines in our Complete Milestone Assessment Program (CMAP), which suggests that clients update their financial plan no less frequently than once every three years.
How does Wealth Management Institute determine the fees for its services?
WMI’s compensation is derived from both fees and commissions. The type of investment program and the size of your portfolio, as well as your investment preferences, will determine our compensation structure.
How often will I hear from Wealth Management Institute once our professional relationship has been formed?
You will receive quarterly performance reports. On those reports you will see a red or green stamp. A red stamp denotes that a change in your portfolio is warranted; a green stamp indicates that your account’s status quo is satisfactory. If you have not accorded WMI blanket discretion to implement changes to your account and (1), you do not respond within a few days and (2), we think a change is urgent in nature, we will call you. We will also send market commentary as events change in the economic world. You’ll also be invited to attend client workshops on various topics from time to time. Finally, we encourage you to update your financial plan as our CMAP guidelines recommend. We are here to take care of you and we want you be a lifelong client, so you’ll be hearing from us quite a bit!
How often will I receive financial statements regarding my portfolio?
You will receive a statement by mail at least once every three months.
What type of tax statements will I receive? Can you help me keep track of my taxes?
We send a realized gain/loss report every tax season. This is in addition to any regular tax statements your investment companies may send.
Can I access my account online?
We have two unique and efficient methods for accessing your accounts online.
Am I able to deposit and withdraw money from my accounts?
Yes, we have a number of methods to deposit and deduct money from your account.
Can you explain the relationship that Wealth Management Institute maintains with the third parties mentioned on the site—FSC, AIG, etc.?
A key aspect of our leadership status in the financial services industry is our independence. Being independent means that we provide a very wide array of potential investments and insurance programs for our clients. We deal with many different companies, in non-proprietary and non-exclusive fashion. The various companies mentioned are our chosen vendors that we feel provide exceptional products and services to our clients.
