The Ledger | Second Quarter 2016
June 7, 2016
Non-Deposit Investment Products are: not insured by the FDIC; not a deposit or other obligation of, or guaranteed by, the bank; subject to investment risks, including possible loss of the principal amount invested.
Three things you should consider when choosing a wealth manager
The wealth management industry is highly regulated with several agencies watching over it. However, as with any financial decision, it is smart to be educated when selecting someone to assist you in managing your money. Here are a few questions to ask when selecting a wealth manager to help handle the future of your personal finances.
Is he or she a financial expert?
This should be a given, but you would be surprised how many managers out there are solely experts in relationship management. While a relationship is extremely important in building faith and trust in the person helping manage your money, you are really turning to your wealth manager for sound financial advice. You want to work with someone who will do their due diligence and suggest investment vehicles that serve your best interest. Ask your wealth manager if they are bound by law to act in your best interest in a fiduciary capacity.
Will they be focused only on producing a diverse portfolio or on the big picture?
While diversity is important in building a sound portfolio, there are so many other factors that need to be considered in order to achieve your financial goals. Sometimes, your plan may not always focus on receiving the best possible return…
Notice:
Wealth Management Department Investments include non-deposit investment products which are:
- Not bank deposits
- Not FDIC insured
- Not insured by any federal government agency
- Not guaranteed by the bank
- May decrease in value
How much should you really have saved in your emergency fund?
*Before you click on the link below, please read the information in the footnote at the bottom of this page.
According to *Bankrate.com, almost a third of Americans have no emergency savings. That’s a scary prospect. Saving can be a challenge for some, as it always seems something is popping up, but the peace of mind that comes from building an emergency fund is worth the extra effort. So how much should you really try to save?
Base your emergency fund on your monthly expenses not your income. Don’t underestimate. Be sure you are including more than just fixed expenses.
Think about if you were to lose your income. How quickly would you be able to replace it? If you would be able to replace it easily, saving six months worth of monthly expenses is a good starting goal…
Angleton Citywide Cleanup shred event is a success
Texas Gulf Bank participated in the Keep Angleton Beautiful Citywide Cleanup event in April by hosting a Shred Truck. Texas Gulf Bank employees helped carry and prepare boxes of materials for shredding from over 100 local citizens. Thank you to all those who participated and a big thank you to our employees who helped out.
Keep Angleton Beautiful empowers Angleton citizens through education to take responsibility for enhancing Angleton’s environment.
*By clicking on any link included in this material, you will be taken to a website that, unless it is to the Texas Gulf Bank, N.A. site, is not affiliated with Texas Gulf Bank. While we offer this link for your convenience, please be aware that this site does not share our stated Privacy Policy and may not offer the same level of security as we do. In addition, we cannot attest to the accuracy of the information provided in any other website but our own. Texas Gulf Bank does not monitor the content of this site, guarantee the product it offers, or endorse the organization it represents.