D. Paterson Cope and Bobby Cope of Cope Private Wealth are no strangers to the wealth industry and have helped dozens of groups and individuals attain their financial goals, from those who have grown their wealth to those who are on their way to high growth. Pat Cope has been a financial advisor for over 30 years with multiple degrees including a Certified FInancial Planner certification to his name. He has license to practice in multiple states and has done so in the course of his career. He resides in Alabama with his wife. Jennifer Miree Cope and his two sons, with his eldest son Bobby Cope also being a financial advisor and a partner at the firm.
Wealth accumulation is not only for those with enormous assets and high networth, but can be achieved by anyone through proper financial planning. While some may be fortunate enough to have already made assets, it is not impossible for others who have spent their time carefully accumulating their wealth and building their assets. The best destination to start is with a trusted financial advisor. Cope Private Wealth offers a multitude of financial plans in order to achieve one’s financial goals.
Thinking of retirement is never easy and planning it is even more tedious. Cope Private Wealth ensures that their clients are taken care of from the moment they plan their retirement to when they retire for good. The strategies and diversification put into the planning of their future is unmatched in the cities of Alabama. Having a comprehensive portfolio guarantees the best future for Cope Private Wealth’s clients and generations to come.
The work they put into their clients is very meticulous and those who are already massively wealthy can acquire even more wealth when their assets are managed and invested correctly. It starts with a plan to maintain and increase a client’s wealth based on their age and current income, the assets they currently hold, and how much they are willing to invest and grow, with the target being financially stable and secure for the rest of their lives and for the legacy they leave behind. Over the course of their lives, Cope Private Wealth ensures that everything goes according to plan. This means that not only do the wealth advisors at Cope Private Wealth invest their clients’ wealth accordingly, but also provide guidance about how they are spending and using their money if they want to reach the goal set out in the initial plan. They also know to consider the uncertainties that come along the way and have this kept in mind when planning out their clients’ assets. With plans including multigenerational and intergenerational state planning, retirement planning, and legacy planning, they make sure that whatever the situation may be, their clients can be ensured that their wealth is prepared and everything is taken care of.
There is a reason the rich keep getting richer and increasing their wealth exponentially each year. It is because they have diversified assets. All their income is not merely being kept in one place like the bank, but distributed among lots of investments and equities, which allows them financial security through passive income. Passive income is the money produced from these investments. Basically, money that is made without having to work for it. This guarantees financial security as if one source of income is lost in any case, there are several more that one can rely on. Diversifying one’s assets to their full potential takes knowledge and skill and is almost always never done alone. Having a financial advisor D Paterson Birmingham Wealth Management in this case is the safest and most practical way of going about building a various portfolio.
When distributing assets to the next generation, everything has to be accounted for. Families of massive wealth have to factor in each and everyone of the estate that is left with an inheritance and how soon they receive it. This signifies that each generation’s portfolios must be built appropriately with the client’s excess capital in a tax-efficient manner and in the right proportions. Another important aspect aside from the financial factors are the emotional factors that surround the family’s wealth. These include the resentment or conflict that might ensue when a family is faced with asset distribution, and also the manner in which they spend it. Studies have proven that even the wealthiest families have their assets dwindle as early as the second and third generations due to negligence and reckless spending. Even with careful and comprehensive planning through trusts, charities, and private funds, it sometimes all goes to waste when something or someone is not accounted for.
