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www.privateairny.com Private Air New York | Winter 2016 50 WEALTH MANAGEMENT WEALTH MANAGEMENT BALANCING ACT: NEW BOOK OFFERS WOMEN STRAIGHT TALK ABOUT MANAGING THEIR WEALTH By: Tricia Drevets A lthough women are poised to control one-half to two-thirds of the nation's wealth within the coming decade, many of them report that they do not feel confident making financial decisions. If Joyce Ewart has her way, that situation is going to change. Ewart's new book, Balancing Act: Wealth Management Straight Talk for Women, is designed to guide women through the process of money management, helping them to discover a way for them and their families to be financially secure no matter what life throws their way. "Until the 1970's in this country, women were considered incapable of making their own financial decision," says Ewart, who is the Founding Principal of Entrust Financial LLC, which is based in the Philadelphia area. "We still are experiencing a relatively new paradigm." She says she hope her book helps provide a roadmap for women to take in order to secure their financial future. Here are five money management tips Ewart offers for high net worth women. 1. Have a plan to protect your wealth. Ewart acknowledges that many women have a sense of fear about money. at fear may have started for some in their youth as they witnessed their parents struggling for income. It can carry over into adult life when women fear they will not have enough to take care of themselves and their children or that, if they do, they will lose it. She says it is essential that women think about what goals they have for their money and how they want to be spent. 2. Learn money management basics. Ewart's book contains an easy to understand how-to guide that includes terminology and financial concepts through stories of real women. She says that a successful investment plan that protects your wealth also includes a tax minimization plan and a wealth transfer strategy. "A good plan is flexible and resilient enough to be able to handle things when life unfolds," says Ewart. "Most women are uncomfortable talking about risk – they don't like risk," Ewart notes. "I like to tell them that risk is their BFF... It can always be there for you." 3. Find a competent wealth advisor. Ewart stresses the wealthy women find a certified financial planner "who gets it and who has been through it." "is person can be your lifeboat," she says, and she recommends that you begin your search for a financial professional by visiting http://www. cfp.net/. Most women are comfortable with a financial planner who takes a holistic approach, Ewart asserts. "Women will resonate with someone who understands that she wants to protect a special needs child or her aging parents," she explains. "Women always have a lot of balls in the air." Ewart adds that high net worth women need an advisor who will be

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