Marianne Wolda – Nichols Wealth Partners

Women: Do You Know What You, Coco Chanel, And Taylor Swift Might Have In Common?

Whether you’re a businesswoman like the late Coco Chanel, artist like Taylor Swift, stay-at-home mom, grandmother, or philanthropist, creating a well-thought-out, comprehensive financial plan that builds on your success for the long term – and isn’t swayed by short-term turbulence or fads – can help give you the confidence you need to make sound financial decisions for your family and add to your peace of mind.

It doesn’t require a passion for style, extraordinary singing/songwriting talent, access to a college education, or many zeros of net worth for a woman to successfully oversee the financial affairs of her family and enterprises. In fact, increasingly women are doing exactly that, and making financial history in the process.

In 2021, Janet Yellen became the first female Treasury Secretary of the United States. Yellen’s economic leadership example is significant as women gain wealth and influence.

A July 29, 2020 article by McKinsey & Co. predicts that by 2030, women in the U.S. will achieve unprecedented independence-granting success. They are also expected to inherit an estimated $30 trillion from aging parents or spouses.

‘Myth’ Information?

Recent reports continue to dispell myths that women are more conservative or risk-averse when it comes to investing. In fact, a February 28, 2022 UBS Women and Investing Report and a 28 June 2018 UK Study by Warwick Business School found that this is not the case, showing that women are simply more cautious and in fact, outperformed men by 1.8% in investing per annum, when portfolio building among 2,800 investors. According to the study, factors contributing to these results included more research, lower trading, and a longer-term investment perspective.

Considering that most Americans want to preserve retirement savings, patience is indeed crucial in investing, for meeting long-term financial goals. When planning for a future where the goal is to have peace of mind, compound growth usually involves steady investments over time, while speculative investments may carry an increased risk of loss. Financial decisions, such as pensions, career changes, retirement, and wealth transfer can be complex and time-consuming. It’s important that women, working with a qualified fiduciary advisor, play a key role in her family’s financial decision making, to help protect their lifestyle and legacy.

Some ultra-high-net-worth female family office clients are helping to set the standard in financial planning. Mothers and grandmothers often worry their heirs might not be prepared to take over when it comes to the management of the family estate or the succession of the family business. Under these circumstances, they typically opt for a well-thought-out, written financial plan to provide their family with a sense of clarity and security. Encouragingly, a March 2020 U.S. Bank Survey found that 37% of women said they had clearly defined financial goals and one-third of them were following a sound financial plan.

Women Know the ‘Score’

Recognizing that no two situations are alike, the Nichols Wealth Partners proprietary Scorecard can help you evaluate and “score” where you are across ten financial criteria. You can gain clarity on where you are and where you’d ideally like to be in areas such as preserving wealth, mitigating taxes, and protecting yours and your family’s financial future in retirement and beyond. Complete the complimentary Scorecard, now and take the first step to creating your own proactive family wealth plan. We believe the insights you will discover will be profound.

As we celebrate International Women’s Day, Nichols Wealth Partners joins in honoring women’s excellence in financial stewardship and encourages even more women to assume leadership roles in financial decision-making and planning.

Taiana Daniel is the Director of Business Development with Nichols Wealth Partners, a Destiny Wealth Partners firm.

Investment advisory services offered through Destiny Wealth Partners, LLC, an SEC Registered Investment Advisor. Destiny Wealth Partners also conducts business under the name Nichols Wealth Partners.

The expressed views, thoughts, and opinions in this article belong solely to the author and are not an investment recommendation or an opinion issued by Nichols Wealth Partners. Content provided is for informational and educational purposes only. Nichols Wealth Partners and its affiliates are not responsible for any human or mechanical errors or omissions. Learn more at https://www.nicholswealth.com/disclosures/

Destiny Family Office Named Prestigious Family Wealth Report Award Finalist

Destiny Family Office, a Destiny Wealth Partners firm, has been named a finalist in the prestigious 11^th Annual Family Wealth Report Awards in the Multi-Family Office category (up to and including $2.5 Billion in Assets Under Management/Assets Under Advisement).

According to ClearView Financial Media, publisher of Family Wealth Report, “The Annual Family Wealth Report Awards recognize the most innovative and exceptional firms, teams and individuals serving the family office, family wealth and trusted advisor communities in North America.”

“We founded our firm with a mission and purpose forged by what we saw as an unanswered need in the marketplace: families seeking advocacy, compelling wealth and investment management capabilities, and execution—without compromise,” said Tom Ruggie, ChFC^®, CFP^®, Founder and CEO of Destiny Family Office.

“While we serve many families, we operate as though we are the team serving a single family. We seek to get to know them intimately, coming to appreciate both their articulated and unarticulated needs, their challenges and aspirations. Only then can we truly deliver an exceptional experience uniquely tailored to them—a hallmark of our firm.

“From the perspective of our clients, it’s more than how we manage their financial needs and implement strategies; it’s how we stand beside them along their journey, helping them to better navigate the great complexity that encompasses their business, financial and personal worlds.”

The awards are judged by an expert panel of more than 40 judges, and finalists are selected on entrants’ submissions and their response to questions across a range of qualitative and quantitative criteria and performance metrics. The judging process is rigorous and independent.

Winners will be announced May 2, 2024, at the Family Wealth Report Gala at the Mandarin Oriental in New York City.

About Destiny Family Office

Destiny Family Office is a Multi-Family Office founded in 2016 by CEO Thomas Ruggie, a Chartered Financial Consultant (ChFC®), CERTIFIED FINANCIAL PLANNER™ (CFP®) and a 30+ year veteran of the investment and financial planning industries. It was created to simplify complexity for its high-net-worth and ultra-high-net-worth client families and to empower them to focus on what is most important, so they may live their best lives and have the greatest impact on the world around them. Tom Ruggie began his career in 1991 and subsequently founded Ruggie Wealth Management, also a Destiny Wealth Partners Firm. Destiny Wealth Partners exceeded $1B in Assets Under Management in July of 2023. Tom has been ranked among Barron’s Top 1200 Advisors 11 times, as a Forbes Best-in-State Advisor six times (since its inception and was 5th in N Florida in 2023), and has been a Forbes Finance Council member since 2016. In 2023, Destiny Wealth Partners was named by Forbes Among America’s Top 250 Advisory Firms, and by InvestmentNews among its 75 Fastest-Growing, Fee-Only RIAs.

About Family Wealth Report

Family Wealth Report provides unique and essential business intelligence on the world of North American family wealth—straight to subscribers’ inboxes every day along with an archive of almost 200,000 relevant articles. It is part of the global WealthBriefing Network. Family Wealth Report is published by ClearView Financial Media with more than 20 years of experience providing information to the international financial services sector.

Investment advisory services offered through Destiny Wealth Partners, LLC, an SEC Registered Investment Advisor. Destiny Wealth Partners also conducts business under the name Destiny Family Office, Ruggie Wealth Management, and Nichols Wealth Partners. Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Destiny Family Office is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Destiny Family Office by any of its clients. Rankings published by magazines, and others, may base their selections on information prepared and/or submitted by the recognized adviser.