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July 2, 2025
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Your Guide to Wealth Management with DeFreitas & Minsky LLP in Bayside, NY
Wealth management is a critical aspect of securing and growing your financial future, especially in a dynamic market like Bayside, New York. At DeFreitas & Minsky LLP, we provide tailored strategies that address the unique needs of high-net-worth individuals.
Our expertise covers comprehensive financial planning, tax strategies, estate and trust services, and business succession planning to help you navigate complex financial landscapes with confidence.
Why Wealth Management Matters
Effective wealth management helps you preserve your assets, minimize tax liabilities, and plan for long-term financial security. It allows you to make informed decisions about investments, estate planning, and charitable giving, ensuring your wealth works for you and future generations.
About DeFreitas & Minsky LLP
DeFreitas & Minsky LLP is a trusted CPA firm servicing New York clients for over 30 years. Our team combines deep industry knowledge with personalized service to craft financial solutions that align with your goals. We keep you informed of changing tax laws and financial opportunities to maximize your benefits.
Understanding Wealth Management
Wealth management is a holistic approach to handling your finances. It integrates investment management, tax planning, estate and trust services, and risk management to optimize your financial health.
Our consultants work closely with you to develop strategies that reflect your values, goals, and risk tolerance, helping you achieve financial clarity and growth.
What is Wealth Management?
Wealth management is a professional service that combines financial and investment advice, accounting and tax services, retirement planning, and legal guidance to help individuals grow, protect, and transfer their wealth effectively.
Core Components of Wealth Management
Key elements include asset allocation, tax-efficient investment strategies, estate planning, and risk management. Our process involves assessing your current financial situation, setting clear objectives, and implementing tailored strategies with ongoing monitoring.
Wealth Management Glossary
Understanding the terminology used in wealth management empowers you to make informed decisions and engage more effectively with your financial advisor.
Asset Allocation
The process of distributing investments across various asset classes like stocks, bonds, and cash to balance risk and reward according to your financial goals.
Estate Planning
Arranging for the management and disposal of your estate during your life and after death to ensure your wishes are fulfilled and tax liabilities minimized.
Tax Planning
Strategic management of your financial affairs to minimize tax liabilities through legal means, maximizing after-tax returns.
Trust Services
Administration of legal arrangements that hold and manage assets on behalf of beneficiaries, often used to safeguard wealth and manage estate taxes.
Choosing the Right Wealth Management Approach
Wealth management options range from limited financial advice to comprehensive services that integrate multiple facets of your financial life. Selecting the right approach depends on your complexity of assets, financial goals, and personal preferences.
When Limited Wealth Management May Work:
Simple Financial Situations
If your assets and financial affairs are straightforward, basic investment advice and tax filing assistance might suffice without the need for full-scale wealth management.
Budget Constraints
For those with limited resources, focusing on essential services can be a practical choice while still maintaining financial health.
The Case for Comprehensive Wealth Management:
Complex Financial Portfolios
Individuals with diverse investments, business interests, and estate considerations benefit from integrated strategies that address all aspects coherently.
Long-Term Planning Goals
For those aiming to preserve wealth across generations, minimize taxes, and support philanthropic goals, a thorough, ongoing advisory relationship is essential.
Advantages of Choosing Comprehensive Wealth Management
Comprehensive wealth management offers a unified view of your finances, allowing for optimized decision-making that aligns all aspects of your financial life.
It provides proactive tax planning, risk mitigation, and estate strategies that adapt to changes in your life and the economic environment.
Holistic Financial Oversight
By integrating investment management, tax strategies, and estate planning, you avoid conflicting advice and achieve synergy across your financial decisions.
Personalized Service and Expertise
Our dedicated team at DeFreitas & Minsky LLP offers client-centric guidance informed by decades of experience servicing New York clients, ensuring your wealth plan reflects your priorities.
Practice Areas
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- DeFreitas & Minsky LLP CPA Firm
Wealth Management Pro Tips
Regularly Review Your Financial Plan
Financial markets and personal circumstances change; quarterly or annual reviews help keep your wealth strategy aligned with your goals.
Leverage Tax-Efficient Investment Vehicles
Utilize tax-advantaged accounts and strategies to maximize after-tax returns and preserve wealth.
Engage a Trusted CPA for Ongoing Advice
A knowledgeable CPA firm like DeFreitas & Minsky LLP can provide comprehensive support beyond tax filing, including estate, trust, and business planning.
Why Wealth Management is Essential
Managing wealth effectively requires expertise across multiple financial disciplines to ensure growth, preservation, and transfer of assets.
Choosing experienced professionals provides peace of mind that your financial future is in capable hands, especially amid changing laws and market conditions.
When to Seek Wealth Management Assistance
Life events such as receiving an inheritance, planning for retirement, starting or selling a business, or preparing an estate often necessitate expert wealth management.
Inheritance and Estate Planning
Navigating tax implications and asset distribution requires strategic planning to protect your legacy.
Business Transitions
Succession planning and tax considerations for business owners are critical to maintain value and ensure smooth transitions.
Retirement Planning
Aligning investments and income strategies to sustain your lifestyle requires comprehensive financial guidance.
Wealth Management Services Serving Bayside and Beyond
Though not physically located in Bayside, DeFreitas & Minsky LLP is dedicated to providing top-tier wealth management services to clients in Bayside, New York, through personalized remote consultations and expert guidance.
Why Choose DeFreitas & Minsky LLP for Wealth Management
Our firm combines decades of accounting and financial expertise with a client-focused approach that prioritizes your unique financial goals and challenges.
We stay updated on the latest tax laws, financial regulations, and market trends to provide proactive advice that helps you stay ahead.
Our long-term relationships with clients reflect our commitment to trust, transparency, and delivering measurable results for your wealth.
Partner with DeFreitas & Minsky for Your Wealth Journey
Our Wealth Management Process
We follow a structured approach to wealth management that begins with understanding your financial landscape and culminates in tailored strategies and ongoing support.
Step 1: Comprehensive Financial Assessment
We gather detailed information about your assets, liabilities, income, expenses, and financial objectives.
Understanding Your Goals
We explore your short- and long-term goals, risk tolerance, and priorities to ensure alignment.
Analyzing Current Financial Position
Our experts assess your investment portfolio, tax situation, estate plans, and business interests.
Step 2: Strategy Development
Based on the assessment, we craft personalized wealth management strategies incorporating tax planning, investment management, and estate considerations.
Tax-Efficient Investment Planning
We design portfolios that optimize returns while minimizing tax liabilities.
Estate and Trust Structuring
We develop plans to safeguard your legacy and facilitate smooth wealth transfer.
Step 3: Implementation and Monitoring
Our team executes the agreed strategies and continuously monitors performance and regulatory changes to adjust plans as needed.
Ongoing Communication
We maintain transparent communication to keep you informed and involved in decision-making.
Periodic Reviews and Adjustments
Regular reviews ensure your wealth management strategy remains aligned with evolving goals and market conditions.
Wealth Management FAQs
What services are included in wealth management?
Wealth management encompasses a broad range of financial services including investment management, tax planning, estate and trust services, retirement planning, and risk management. It is designed to provide a holistic approach to managing your financial affairs. By integrating these services, wealth management helps you grow and protect your assets effectively.Working with a wealth management team means you receive coordinated advice that considers your entire financial picture, rather than isolated recommendations. This integrated approach enables better decision-making and long-term financial security.
How can a CPA firm assist with wealth management?
A CPA firm brings specialized knowledge of tax laws, accounting principles, and financial regulations that are critical for effective wealth management. They can help optimize your tax strategies, ensure compliance, and provide accurate financial reporting.Beyond taxes, CPAs can assist with estate planning, business succession, and financial forecasting, making them invaluable partners in creating comprehensive wealth management plans tailored to your unique financial situation.
Why is tax planning important in wealth management?
Tax planning is a vital component of wealth management because it directly impacts your net returns and the amount of wealth you can pass to future generations. Efficient tax strategies help minimize liabilities and maximize after-tax income.By proactively managing tax exposure, you can avoid surprises and make informed investment and estate decisions, preserving more of your wealth over time.
What makes DeFreitas & Minsky LLP unique for Bayside clients?
DeFreitas & Minsky LLP stands out due to our extensive experience serving New York clients for over three decades and our commitment to personalized service. We take the time to understand your unique financial needs and tailor strategies accordingly.Although we are not physically located in Bayside, we provide dedicated remote support and leverage technology to offer the same high level of service to Bayside residents, ensuring accessibility and responsiveness.
How often should I review my wealth management plan?
It’s recommended to review your wealth management plan at least annually or whenever significant life changes occur such as marriage, inheritance, or business transitions. Regular reviews ensure your plan remains aligned with your goals and adapts to changes in tax laws or market conditions.Staying proactive with reviews helps identify new opportunities and mitigate risks, keeping your financial strategy effective and up to date.
Can wealth management help with business succession planning?
Yes, wealth management often includes business succession planning, which is critical for business owners looking to transition ownership smoothly and preserve business value. This planning addresses tax implications, ownership structures, and continuity strategies.Our firm works closely with business clients to develop succession plans that protect their legacy and financial interests, integrating them seamlessly with overall wealth management objectives.
Do you offer virtual consultations for Bayside residents?
Absolutely. We offer virtual consultations to clients in Bayside and across New York, ensuring you receive expert advice and support regardless of your location. Our team uses secure communication tools to provide personalized service remotely.This flexibility allows you to benefit from our expertise conveniently and maintain ongoing communication without needing in-person visits.
How does estate planning fit into wealth management?
Estate planning is a fundamental part of wealth management that ensures your assets are distributed according to your wishes and in a tax-efficient manner. It involves creating wills, trusts, and powers of attorney to manage your estate.Proper estate planning protects your legacy, minimizes taxes, and provides clarity for your heirs, making it an essential component of comprehensive wealth management.
What is the difference between financial planning and wealth management?
Financial planning focuses on setting and achieving specific financial goals such as retirement savings, budgeting, or debt management. Wealth management, however, is a broader service that integrates financial planning with investment management, tax strategies, estate planning, and more.In essence, wealth management offers a comprehensive approach that addresses all facets of your financial life, providing a coordinated strategy for wealth growth and preservation.
How do I get started with DeFreitas & Minsky LLP for wealth management?
Getting started with DeFreitas & Minsky LLP is simple. Begin by scheduling a free consultation with one of our wealth management experts to discuss your financial goals and current situation. We will conduct a thorough assessment and outline a customized plan.From there, our team will guide you through the implementation process and provide ongoing support to help you navigate your financial journey with confidence.
Testimonial
WHAT OUR CLIENTS ARE SAYING!
DeFreitas & Minsky maintains high standards, produces detailed information and gets involved with our company so they can understand the operation on a more personal level. The information they provide is always accurate and current. We have been with them for more than 30 years!
4 years agoThis is my second year filing my taxes with DeFreitas & Minsky. I was referred by a friend. Honestly, It’s a blessing sent. Everyone there is professional and knowledgeable about tax codes. They even keep me abreast via email whenever there’s a new tax law and what it entails. I feel safe and sound when doing business with them.
True professionals and attentive to all of my needs. Manny, Melissa, and Michael are all super helpful. They took the time to help me with my taxes, financial planning, and estate tax needs. I highly recommend them.
We’ve been working with Manny for the last 10 years. Whenever we have a question he’s there and if he’s in a meeting during Tax Season (it happens), Jay is always there. Thank you Gentlemen.