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Why Illiquid Wealth is Valuable to Financial Advisors | Financial Advisors
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Why Illiquid Wealth is Valuable to Financial Advisors | Financial Advisors

Small business has long been said to be the backbone of the U.S. economy for its ability to create new jobs and spur job expansion. In fact, small business creates two-thirds of new jobs and employs 46.8% of the private workforce, according to 2021 Small Business Administration data. The COVID-19 pandemic hit small businesses hard, especially minority-owned businesses. However, many have rebounded and continue to grow. Financial advisors often market to a niche of potential clients, and business owners are regularly cited as an optimal market. However, when advisors talk with a prospective client about their current investments, rarely do they discuss one of the largest allocations in the client's portfolio – their ownership interest in the business itself. In doing so, they miss out on...
Asset Management Definition | U.S. News
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Asset Management Definition | U.S. News

What Is Asset Management?Asset management is a subset of wealth management and refers to the practice of buying and monitoring securities, real estate and other investment products to generate a return for clients.An asset manager works with individuals, organizations and institutions and oversees their assets, including money, real estate and securities. They may manage their assets through hedge funds, private equity funds, stocks, mutual funds and other investment vehicles. Although the primary goal of an asset manager is to help the client earn money, they also must protect the client's money by assessing and lowering their risk level. They provide these services for a fee, usually calculated as a percentage of the value of the assets they manage.Compare OffersCompare OffersAd discl...