Lycos Asset Management—Wealth Management Expertise
Wealth management encompasses all facets of financial needs including investment management, financial planning, tax advice, estate planning. To be able to serve clients in all these areas we have a wide spectrum of expertise. Moreover, we are licensed portfolio managers and fiduciaries. This means we have a legal fiduciary duty that places client interests ahead of ours in managing portfolios. We also assume fiduciary responsibility in structuring custom and comprehensive financial plans for our clients.
Access to Multiple Asset Classes Including Private Debt & Equity
We seek the best mix of investments to fulfill preservation of capital, growth and income objectives. Therefore we go beyond bonds and stocks investing in other classes and such as private equity and private credit to diversify portfolios. That means using outside investment managers in their areas of expertise. In contrast, other investment management firms only use their own investment funds for their clients’ portfolios.
Wealth Management Services
As wealth managers we coordinate and provide the services needed to grow and preserve wealth and meet other financial objectives. Consequently we partner with our clients for the long term and take great pride in seeing our clients’ financial situations flourish over the years.
Wealth management typically involves many areas such as:
- Portfolio management, including utilizing external specialized asset managers
- Financial planning
- Retirement planning
- Tax planning
- Education planning
- Legacy building
- Estate planning
- Charitable giving
Active or Discretionary Portfolio Management
Some investors like to be involved in the investment choice decision. In contrast other investors prefer discretionary management of their portfolio. This means delegating investment responsibility to the Portfolio Manager who is responsible (and legally bound as a fiduciary) to make investment decisions in the best interests of the client.
Our Wealth Management Approach – It All Starts With a Plan
First of all, we start by developing a detailed and comprehensive financial plan. Certainly your current circumstances and goals as well as prudent future portfolio returns assumptions help us formulate plans. Then we implement your financial plan using the best asset mix for you. Finally we review and update your plan as life goals and circumstances change.
Our wealth management process couples the investment management process with appropriate insurance, estate, and tax planning strategies. Therefore we work with our clients’ accountants, lawyers, mortgage brokers and other team members, to formulate a holistic plan. That means our wealth management service is not generic but custom to you.
Clear Reporting and Communication
Importantly, we try to provide clear communication, portfolio reporting and market insights. Personalized investment return reports, clear reporting on how much you’ve invested over the years, net deposits, withdrawals, etc. This also includes meeting with our clients regularly to review their situation, make adjustments to their financial plan and asset mix.
Provision of Income Stream
Notably one of our wealth management strategies is to focus on generating a consistent stream of income, especially for retirees. We do this through dividends and other income generating investments. Relying on such income for portfolio draws, especially when markets are down, makes sense. That way retirees do not have to touch their capital.
Financial Planning for the Long Term
Crucially financial planning is a long term exercise for our clients and we make investments with 10, 20, 30, 40 or more years in mind as plans dictate. That means we do not chase unnecessary short term trades or unnecessary products.
Give us a call
If you’re looking for a detail-oriented, experienced advocate for your wealth management, someone you can trust implicitly to make sound financial management decisions and partner with you for the long term, we’d love to speak with you about how we can help.