Integrative Health and Wealth

June 30th, 2008 at 11:50am Theresa Harzelak

  Theresa A. Harezlak, CFP^® 

My sister Lynette was diagnosed with breast cancer three weeks after discovering she was pregnant. I remember the uncertainty of the time and the sheer panic within my entire family at having to confront cancer and mortality with someone so young.  My sister was 34 years old. 

She was given a very slim chance at long-term survival by 6 of the 8 medical opinions she sought.  Those 6 physicians told her she’d be lucky if she survived three years. 

But my sister kept searching because her instincts told her to seek out a place that truly believed in and practiced integrative health care–one where the entire person–physical, mental and spiritual—is treated under one roof. She found that place and concentrated on creating the optimal environment to regain her health through cancer treatment, diet, exercise and many other lifestyle changes. 

This year, 2008, is one where our family is celebrating her 10th year of survival and her son’s 10th birthday. We believe that the integrative approach that she found has been the key to her survival. 

I tell you this story because the integrative approach works.  It also works when talking about your financial wealth.  It’s called Integrative Wealth Management (IWM). 

This philosophy recognizes that your total “wealth” extends beyond financial issues and is also made up of human, intellectual, and social factors. IWM is comprehensive in nature and incorporates your financial plan, estate plan, life plan, vision, and investment strategy. 

Integrative Wealth Management (IWM) emphasizes the importance of addressing both your personal and financial needs. There are four main components of IWM all working in concert. 

PLANNING: Includes financial planning, estate planning, cash flow planning, philanthropic planning, retirement planning, educational planning, risk management (insurance), and tax planning.  

INVESTMENTS: Creating an ideal portfolio based on an individual or family’s asset allocation. Integrating the proper blend of stocks (domestic and international), bonds, REITs, and commodities. 

TAX MANAGEMENT: Arranging your investment planning strategies as to minimize the present value of the future tax liability over your life or in some cases multiple generations. 

PERSONAL CFO: Coordinating and managing your team of advisors so your strategies are implemented effectively, simply, and efficiently. Your team of advisors often includes: bankers, accountants, attorneys, insurance providers, investment advisors, and other professionals. 

Integrative healthcare and Integrative Wealth Management are not too terribly different in their philosophies. Both are customer-centered. Both understand that the customer brings to every situation a unique set of circumstances that must be addressed through individualized planning and both focus on agreed upon goals, dreams and desires of the client.  

When seeking care or advice in any arena, I would encourage anyone to partner with the team that is going to consider the whole person, not just that person’s investments or in the case of my sister, her breast only. 

Congratulations Lynn on 10 years!

Entry Filed under: Estate Planning, Financial Planning