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Category : Wealth Management

4 Things You Must Do Before Selecting a Wealth Manager

  • admin
  • October 13, 2019

Selecting a wealth manager shouldn’t be a knee jerk reaction. Don’t select someone just because they come highly recommended by a friend or because they talk a big game. Make sure you find a wealth manager that fits your specific needs and creates an environment where you are able to preserve, protect, and build wealth year-after-year. At Metroplex Wealth in Southlake, Texas, here are 4 things we recommend you must do before selecting a wealth manager:

  1. Evaluate What You Need

Not all wealth managers are created equally and each specializes in something different. Some are heavy on stocks and bonds, while others offer tax preparation and estate planning. Others still, might focus on real estate. Know where the gaps in your long-term financial plan so that you can better assess which wealth manager is the best fit. At the very least, avoid wealth managers who produce cookie-cutter portfolios.


  1. Be Mindful of How the Fee Structure

Using a wealth management firm is a wise decision for gaining wealth, but also know that wealth managers do not work for free. Before choosing a wealth management firm, be sure you know how they are paid. Are they commission based? Do they offer a flat fee for their knowledge and expertise?


  1. Know Their Communication Style

If someone else is handling your investments, then it’s nice to know they are only a phone call or text away. Choose a wealth manager that is easy to contact, that returns calls promptly, and regularly meets with their clients to re-evaluate their portfolio for optimal production.


  1. Look into their Reputation

Checking references, the Better Business Bureau, and online reviews are very important when it comes to understanding how a wealth manager will deal with you and your money. Do not hesitate to do a thorough check before trusting someone with your long-term financial security.


Metroplex Wealth is a full-service wealth management firm in Southlake, Texas, specializing in estate planning, wealth management, asset protection, retirement savings, tax planning, and so much more. Give us a call today for a consultation to see if we are the right fit for you.

4 Common Mistakes When Choosing a Financial Advisor

If you are seeking out sound financial advice and someone to keep your assets safe for generations to come, then choosing wisely is key. However, this decision can often be overwhelming, leading many to make a hasty decision with long-term ramifications. As you choose who to trust with your money, avoid these 4 common mistakes when choosing a financial advisor:


Mistake #1: Not Paying Attention to Someone’s Specialty

At Metroplex Wealth in Southlake, Texas, we offer a variety of specialized financial services including retirement planning, proactive tax planning, asset protection, social security management, and more. Depending on your goals, it would be unwise to choose someone who isn’t aligned with your needs. If you’re a small business owner just starting out, your needs likely vary from someone who is looking for ways to capitalize on growth as they near retirement. Likewise, strategies vary and you need to feel comfortable with the type of strategy your financial advisor feels is best for your money.


Mistake #2: Hasty Decision-making

Just because your close friend or colleague uses a certain financial advisor, does not mean that person is right for you. Before making a decision on wealth management, get to know the advisor. Call his or her references. When it comes to your money, do not make a decision lightly.


Mistake #3: Choosing Based on Brand

Many wealth management and financial advisors are affiliated with big name companies, but that doesn’t necessarily mean they are the right fit or the most well-educated on your specific needs. Choose the person who is right – not the company.


Mistake #4: Ignoring the Fee Structure

Before trusting someone to manage your wealth, be sure to understand the fee structure. Is there a flat fee? Are they commission based? Do they get a percentage based on assets under management? All of these questions are important to understand before signing on the dotted line.


At Metroplex Wealth in Southlake, Texas, we are more than a financial advisor. We are a full-service wealth management firm, excited to help you do the most with your money. Give us a call today to set up a consultation.

Asset Protection in Texas: 4 Ways to Minimize Your Risk

At Metroplex Wealth, one of the services we offer is Asset Protection in Texas. Asset Protection is a commonly misunderstood part of wealth management, so let us clear the air on what it is – and what it isn’t.

What is Asset Protection in Texas?

Asset Protection is simply a legal way to evaluate your assets and ensure that they get to the individuals or charities that you choose. In a society where litigation is more and more common, your personal and business wealth must be structured in a way that it’s protected. Asset Protection is not an illegal way of hiding money. At Metroplex Wealth, we work with an estate planning attorney that works with the law to legally diversify and protect your money.

Ways to Minimize Risk

So exactly how does Metroplex Wealth work to minimize risk? Here are 4 common Asset Protection methods we use often:

  1. Charitable Giving: Gifts to children, charities, or other family members are a great way to minimize risk and increase asset protection. This is one of the easiest strategies and one used often by our clients.
  2. Retirement Plans: Money held in many retirement plans is well protected from creditors until you begin distributions. 401(k) and 403(b) plans are some of the best for Asset Protection, but you’ll find that IRAs also offer some protections as well with generous caps.
  3. Trusts: Worried about creditors coming to your heirs and depleting assets? In that case, a trust may be a smart choice for Asset Protection, as the funds in a trust are protected.
  4. Family Limited Partnerships (FLPs): These partnerships among family are a legal way to provide a safe haven for your assets. You are your family will get limited partnership rights to the money while it’s kept in safekeeping.

Is Asset Protection Planning Right for Me?

If you’re concerned about litigation or your assets falling into the wrong hands in the future, then call us at Metroplex Wealth for a consultation. We have estate planning attorneys on staff to offer sound advice on what makes sense for you and your money.

Why Choose Metroplex Wealth?

  • admin
  • July 23, 2019

With so many wealth management professionals out there – what makes Metroplex Wealth different? Our business model has been tweaked and perfected through 34 years of experience in the financial industry. Read on to learn more about what sets us apart from the pack:


Well-Rounded Approach to Wealth Management

Prior to opening his own wealth management firm, our founder spent years working for prestigious companies like Merrill Lynch, Smith Barney, UBS, and the like. What he felt was missing was a well-rounded approach to his clients’ financial needs. Sure, he knew investments, but there seemed to be a better way to approach investments, tax planning, and estate planning all under one roof. From there, Metroplex Wealth was born. We work closely with the like-minded tax and estate planning professionals to give our clients a holistic approach to wealth management. This holistic approach helps your money work for you and identifies pitfalls and ways to save you money along the way.


Professional & Certified

When you meet with our team at Metroplex Wealth, you can expect professional, knowledgeable wealth management advisors who cater to your needs first and foremost. Our team has acquired many certifications and professional memberships after completing rigorous training courses to keep up-to-date on the latest investment strategies and products.


Many Financial Products Available

As we mentioned earlier, assessing and understanding your full range of financial needs is our goal here at Metroplex Wealth – the top wealth manager in Southlake, Texas. We offer many financial products, including estate planning and probate, wealth management, retirement planning, asset protection, social security planning, proactive tax planning, and holistic investment strategies to fit your needs.


If you’re looking for the best wealth manager in DFW, then give us a call at Metroplex Wealth and let’s talk about how we can help you achieve your financial goals.

5 Simple Ways to Increase Retirement Savings

  • admin
  • July 13, 2019

Whether you have been saving for retirement for years – or just getting started – Metroplex Wealth can help you achieve your financial goals and get you moving in the right direction. Our team offers a well-rounded approach to retirement savings, and here are a few simple ways we recommend you increase your retirement savings today with very little effort:


Increase Saving Today


As most people know, retirement savings – and the amount you end up keeping at the end – comes down to the magic of compound interest. That’s why it’s best to start saving as soon as possible so that time is on your side. If you’re already saving, boosting that amount by even $50/month will pay off in the long run.


Take Advantage of Employer Matching


Don’t leave money on the table. If you have an employer that matches 401K contributions, make sure you are maxing out that match in order to maximize your return. After all, it’s free money. If you can’t do it today, then wait until your next raise, and instead of pocketing the increase, put it toward retirement savings and maxing out the employer contribution.


Take Advantage of Higher Contribution Limits for 50+


If you are over the age of 50, then you have the opportunity to catch up on your retirement savings with higher yearly contribution limits. Catch up contribution limits vary for IRAs, Roth IRAs, and 401K plans, so give us a call at Metroplex Wealth to discuss your options and what makes the most sense for maximizing your money.


Schedule Automatic Withdrawals


It may hurt a little at first, but scheduling automatic retirement savings withdrawals ensures you are paying yourself first and working toward your retirement goals – without even lifting a finger. Soon, you won’t even notice the difference and the money will be working for you.


Delay Social Security Payments


Did you know that once you reach retirement age, every year that you delay your Social Security payments – up to age 70 – it increases your Social Security benefit? Even just pushing it back a year can make a difference in the amount of money you receive.


Not sure if your retirement savings in on track? Talk with a DFW financial advisor at Metroplex Wealth about simple solutions to growing your retirement savings and keeping you on track to financial freedom in the retirement years.


Why Do I Need a Wealth Manager?

  • admin
  • June 25, 2019

It’s a question we hear a lot, and frankly, it comes down to misconception. Wealth managers are highly trained individuals who know the ins and out of the financial industry – and how to make that work for you and your money. Here are 3 reasons that our team here at Metroplex Wealth recommends that you hire an experienced wealth manager to assist with your finances:


Future Financial Freedom


When you look into your future, what do you see? How does your financial situation look? The wealth managers at Metroplex Wealth can help you plan for your future financial goals and might even recommend products or strategies you had not previously considered based on our 20+ years of providing financial advice to our clients. Everything from retirement planning, estate planning, proactive tax planning, and even social security planning can be worked to your advantage and provide you with long-term financial freedom.


As Life Gets More Complicated – So Does your Money


As we age and acquire more wealth, the more complicated our finances become. Add a spouse and a family to the mix and the financial burden gets even more complicated. Metroplex Wealth offers another touchpoint for decision making; an outside perspective backed by 20+ years in the industry. And don’t forget that our proactive tax planning works those complicated tax assessments to your advantage.


Planning for the Unexpected


We can’t anticipate every curveball life gives us, but with the proper financial planning from a top wealth manager like Metroplex Wealth, we can ensure you have the financial stability to navigate that curveball with ease. Whether you need help with college planning, medical expenses, elderly care, and more – Metroplex Wealth’s team can help.


Ready to learn more about how our team of wealth managers can help you achieve your financial goals? Give us a call today to set up an introductory consultation.

3 Wealth Building Pitfalls – and How to Avoid Them

  • admin
  • June 10, 2019

They call it building wealth for a reason.


It takes time to achieve your financial goals, and at Metroplex Wealth in Southlake, Texas, our goal is to come along side you and offer guidance throughout the process. As you set forth toward your financial goals, be sure to avoid these 3 common mistakes when building wealth:


Removing Yourself from the Budgeting Process


Whether you are a small business owner or just managing your own personal finances, budgeting remains an important piece of the puzzle. At the end of the day, all wealth building comes down to income vs. expenses, and if you lose sight of the big picture and the budget, you’ll be led astray. Many people believe that as their wealth and income grows, a budget no longer matters. At Metroplex Wealth, we can say that the closer you stay to understanding your budget on a monthly basis, the closer you’ll come to achieve your greater financial goals.


Not Understanding Your Investment Strategy


At Metroplex Wealth, our goal is to educate you on products and investment that will grow your portfolio. We want you involved in the process. (It is your money, after all.) One of the worst mistakes you can make when building wealth is to get lazy in the process. Relying on others. Throwing money at things in hopes that it works out without doing your research. These are important mistakes to avoid.


Forgetting Where You Came From


As you build wealth, it’s important that you stay humble and grounded in order to achieve long-term financial success. A great way to do this is to give back to others. Donate and give to causes you want to support. Use your time to volunteer at a shelter or other charity.


Metroplex Wealth – the best financial advisor in Southlake, Texas – would love to help you achieve your financial goals and help you avoid these mishaps! Give us a call today to schedule a consultation.

Leveraging the Tax Code to Limit Your Liability

  • admin
  • May 31, 2019

Many of the clients we consult with are surprised to learn that their specific financial situation can lend to considerable tax savings. By effectively leveraging the IRS tax code and some of the lesser-known rules within it, our clients have had been enable to reap impactful tax benefits. Having an understanding of how to limit your tax liability has the potential to optimize your profits and create additional opportunities for wealth building.

Strategic Tax Planning

Whether you’re looking to lower your personal taxes or you own a business and are focused on limiting its tax liability, there are a wide range of nuanced rules within the IRS Tax Code that could be used to your advantage. Committing to strategic tax planning with intentionality also helps ensure you aren’t making costly mistakes or missing out on opportunities. Tax reduction strategies, especially when they’re stacked one on top of another, can result in savings of thousands upon thousands of dollars.

Tax Planning Expertise

We have a partnership with local company Financial Gravity to ensure that our clients have access to the expertise necessary to help our clients reduce their personal and business income taxes. While it might be tempting to wait for tax season to come around again, now is the time to initiate proactive planning for next year.

The most effective strategic tax planning will be customized to work with your specific circumstances. If you’re interested in learning more about how you can leverage the tax code to limit tax liability, reach out to the Metroplex Wealth team to determine what an appropriate next step would be. Our team can be reached via phone at 817-601-5272 or email at info@metroplexwealth.com.

Does My Portfolio Need to be Rebalanced?

  • admin
  • April 4, 2019

The ideal investment portfolio is one that is appropriately diversified across a range of asset classes. Even the most passionate of investors may find that they’ve become passive in their investment strategy and may need to leverage the expertise of an experienced consultant to rebalance their portfolio to most effectively reach their wealth management goals. How then can you determine if your investment portfolio needs to be rebalanced?

Acknowledging Limited Asset Classes

A great first step to determining whether rebalancing your portfolio is necessary is to get a lay of the land. Look to what asset classes you’re currently invested in within your investment portfolio. Is all of your money in real estate, bonds, or stocks? Regardless of which asset class you’re currently zeroed in on, you’re taking a gamble by exposing yourself to more risk than you may be comfortable with. Diversifying across asset classes, and within each asset class, is an effective strategy for limiting your risk.

Considering Risk Tolerance

It’s very likely that your risk tolerance will change over time, rebalancing your portfolio is an appropriate step to ensure your asset allocation reflects risk tolerance appropriate to your goals.

Assessing Goals

Consider when you last rebalanced your portfolio. If it’s been more than a year, it’s possible that your goals may have changed. Are you in a time of transition in your life? If you’re expecting any major life changes, such as an addition to the family, or nearing close to retirement – it’s likely time to consider a rebalance.

If you need support determining and reaching your preferred asset allocation levels, don’t hesitate to reach out to us. The Metroplex Wealth Management team can help you determine whether a portfolio rebalance is needed to get you closer to your wealth management goals.

The Value of Being Strategic About Social Security Benefits

  • admin
  • March 31, 2019

When discussing retirement plans with our clients, we find that Social Security benefits are a consideration for most. While many recognize that these benefits will be of value to them once they decide to retire, few realize that leveraging our expertise can vastly improve their collection amount. There is tremendous valuae in being strategic about your social security benefits.

Income Taxes

Did you know there are strategies you can implement into your plan to reduce the tax amount you’re required to pay on your social security income? Doing so not only allows you to add more income to your retirement, it ensures that you aren’t leaving money on the table as a result of not doing your due diligence alongside a wealth management professional.

Claiming Benefits

This likely won’t come as a surprise, but the percentage of Social Security benefits you are paid will largely depend on what age you retire. Your full retirement age is determined by the year in which you were born. Claiming your benefits prior to this full retirement age means that you’ll receive only a portion of the income you would have received had you waited to reach full retirement age. That being said, if you have the flexibility to wait to claim Social Security benefits, waiting to reach full retirement age is one of the most simple steps you can take to maximize your benefits.

There are a number of strategies you can implement to maximise your Social Security benefits and limit your tax risk. Working in partnership with a trusted wealth management professional is the most effective way to ensure you’re being strategic about your retirement years. Reach out to the Metroplex Wealth team today at info@metroplexwealth.comor 817. 6011.5272 to intiative a conversation about your Social Security benefits strategy.