Wealth management is an important factor in achieving financial stability and security. Knowing how to properly manage your assets is the key to making your money work for you and growing your wealth. Whether you are a beginner or an experienced investor, these wealth management tips will be invaluable in helping you make the most of your money and achieve your financial goals. Read on to find out more about how to grow your wealth with these tips from Andy Garganta, Head of Wealth Management at Amerant Bank.
Take advantage of bank investing technology
When it comes to wealth management, taking advantage of the technology offered by your bank can help you easily reach your financial goals. For example, many banks offer helpful resources that allow you to manage your portfolio with just a couple clicks. Amerant Bank through its affiliate, Amerant Investments Inc, offers its digital advisor tool, Smart Portfolio, where you can answer a few questions and receive a personalized investment portfolio that reflects your interests and investment profile. All you have to do to get started is complete the application and start funding with only $500*. A private banker or wealth management advisor can help you get started with automating your finances and take advantage of the tools available at your bank*.
Utilize credit card rewards
Credit cards can be a great way to maximize your wealth-building efforts. By taking advantage of rewards programs, you can turn your everyday expenses into investments for the future. Many credit cards offer incentives like cash back on purchases, points to redeem for cash, gift cards, travel or merchandise, and extra earnings when you meet a minimum spend. Make sure to read the terms and conditions of any credit card rewards program to ensure you understand the benefits and risks associated with it and pay the balance each month in full to avoid interest charges or fees.
Pay yourself first
Paying yourself first, also known as reverse budgeting, is an important method for achieving your financial goals. With reverse budgeting, you set aside funds for saving, meaning money is allocated towards a future you. One common way to do this is to set up a portion of your paycheck direct deposit to automatically transfer to a savings account from your gross income. This strategy enables you to save money every month and stay on track with your wealth management plan.
Manage debt strategically
For our clients looking to build wealth, carrying debt should be carefully thought out. We want our clients to be able to take advantage of low interest rates to make prudent investments in other areas, but it’s important to try not to carry debt on things that quickly depreciate, like cars or boats. Amerant Bank makes it easy to choose the most suitable option for you, with flexible terms and high-touch service on loans and lines of credit.
Collaborate with advisors
Having a strong professional relationship with your wealth advisor is invaluable. Advisors like those part of Amerant’s Wealth Management team can provide you access to tools, resources and strategies to meet your financial goals. With full-service investing options, our advisors provide personalized guidance, enabling clients to make informed decisions that suit their individual needs and long-term goals. Make sure to collaborate with your advisor on a regular basis to maximize your investments.
At Amerant, clients have the opportunity to explore a variety of banking, lending and investment options. From checking accounts to mortgages to retirement services, Amerant focuses on different strategies and utilizes the latest technology to ensure success. Our goal is to invest in the client, not just their investments
Important Legal Disclosures and Information
Securities and investment advisory services offered through Amerant Investment Services, Inc., a member of FINRA and SIPC. Investment Products: Not FDIC Insured, no bank guarantee, may lose value, not a deposit, not insured by any federal government agency.
AMTI will offer Free Advice for the first 12 months (excluding underlying funds expenses). After first 12 months of account’s required initial funding, a 0.50% annual fee will be charged quarterly in arrears based on accounts average daily balances.
1 Investment products and services offered through Amerant Investments, Inc. The advisor maintains fiduciary responsibility and gives priority to the interests of the customer before their own.
Securities and investment advisory services offered through Amerant Investment Services, Inc., a member of FINRA and SIPC.
Investment Products: Not FDIC Insured, No Bank Guarantee, May Lose Value. Amerant Investments, Inc. is an investment adviser registered with the United States Securities and Exchange Commission. Such registration does not imply that the Firm is recommended or approved by the United States government or any regulatory agency. Amerant Investments, Inc. may only transact business or render personalized investment advice in those states and international jurisdictions where it is registered, has notice filed, or is otherwise excluded or exempted from registration requirements. Amerant Investments, Inc. may not provide investment advisory services to any resident of states in which the Adviser is not registered. The purpose of this website is for information distribution only and should not be construed as an offer to buy or sell securities or to offer investment advice. Past results are no guarantee of future results and no representation is made that a client will or is likely to achieve results that are similar to those described. An investor should consider his or her investment objectives, risks, charges and expenses carefully before investing. Please refer to Amerant Investments, Inc.’s ADV Part 2 and firm brochure for additional information and risks.