Omnia Family Wealth Discusses Wealth Management Philosophy with Citywire
Citywire USA Reporter Isaiah Green recently embarked on a trip to the Sunshine State to meet with some of the top local RIAs in Florida and gain a better understanding on the latest macro trends and benefits of client diversity.
One of the firms he spoke with was Omnia Family Wealth in Aventura, where he met with all three of the firm’s co-founders: Chief Executive Officer Steven Wagner and Managing Directors Ivan Hernandez and Michael Wagner. During this meeting, Green and Omnia Family Wealth discussed the wealth management philosophy of their $1.7 billion firm that serves 50 high-net-worth and ultra-high-net-worth families, including successful entrepreneurs and real estate moguls.
“By working with just 50 very wealthy families, we’re able to build a much deeper relationship and work with multiple generations in planning for the future, giving back and emphasizing the values that helped to create the family’s wealth,” says Michael Wagner.
Other aspects of the team’s strategy includes integrating a vehicle-agnostic approach to investments and creating portfolios that are based on the client’s investable assets and risk tolerance.
“We aim to avoid making predictions and to focus more on the areas that we can control, such as portfolio risk, taxes and fees,” explains Wagner. “We also focus intently on wealth transfer planning in order to prevent our clients’ heirs from falling into the ‘sudden wealth syndrome’ that you often see among lottery winners and professional athletes.”