Wealth Management Companies Near Me: Secure Your Wealth – PillarWM

The Top 10 Wealth Management Firms in the World       

1. UBS Global Wealth Management

UBS Group AG is a multinational investment bank based in Switzerland. It has over 70,000 employees and $2 trillion in assets under management.

As the world’s largest wealth manager, UBS Global Wealth Management offers financial services and advice to wealthy families and individuals worldwide.

UBS financial advisors utilize UBS Wealth Way as an approach to help clients pursue their wealth management goals and needs, incorporating Liquidity, Longevity, and Legacy strategies. These strategies integrate retirement planning, investing, and planning a legacy.

2. Credit Suisse

Credit Suisse was founded in 1856, is based in Switzerland, and operates in over 50 countries. The global investment bank and financial services company has $1.5 trillion in assets under management.

The company provides holistic wealth management and investment banking solution. It sold its US wealth management division to Wells Fargo in 2015.

3. Morgan Stanley Wealth Management

Morgan Stanley reports $1.3 trillion in assets under management.

Morgan Stanley financial advisors assist their clients with their goals, including budgeting, cash management, retirement planning, and investing.

Morgan Stanley’s private wealth management advisors tailor a wealth management plan to manage risk, transfer wealth, and maximize philanthropic impact. They can connect their clients with industry leaders for personalized strategies.

Morgan Stanley also offers virtual advisors, automated investment management, and the E*TRADE digital platform for trading on your own.

4. Bank of America Global Wealth and Investment Management (GWIM) 

Bank of America acquired Merrill Lynch on January 1, 2009. Bank of America GWIM holds $1.6 trillion in AUM, with Merrill Lynch contributing $1.3 trillion.

The Merrill Lynch investment advisory program offers fiduciary advice and guidance, which are personalized to the customer’s financial situation. It provides access to a wide range of investment solutions, with investment strategies managed by the program’s investment professionals.

A Merrill financial advisor customizes the client’s investments so that they are tax efficient and aligned with the client’s financial situation and goals, including focusing on certain companies that have a green or sustainable vision.

5. JPMorgan Private Bank

JP Morgan Private Bank has over $3 trillion in assets under management as of Dec 2021. The firm is the largest bank in the US and has offices in most large cities around the country.

JP Morgan Private Bank acts as a single resource for advice in managing taxes, business strategies, estate planning, and charitable giving, where its financial specialists deliver a comprehensive plan for wealth management.

For investing, JPMorgan Private Bank provides managed portfolio strategies, whether they are tax-smart, thematic, or alternative.

As part of a banking institution, JPMorgan Private Bank develops customer solutions in lending, including for life insurance premiums, real estate, fine art, and aircraft. It offers both personal and digital banking services.

6. Goldman Sachs     

Goldman Sachs, with headquarters in New York City, is estimated to have over $2 trillion in assets under management. It was founded in 1869.

Goldman Sachs provides advice and investing for institutions and individuals. Private wealth clients are offered guidance in tax planning, investing, wealth transfer, and alternative investments.

Goldman Sachs wealth advisors offer asset allocation and portfolio implementation, income tax and financial planning, ESG investing, and foundation and endowment portfolio solutions.

7. Charles Schwab

Charles Schwab was founded in 1971 in California. It was purchased by Bank of America in 1983 and has over $8 trillion in AUM.

Charles Schwab Wealth Advisory focuses on the client, providing wealth management that centers on the client’s goals, with a strategy that adapts to life changes, and a dedicated advisor who is backed by a team of experts.

Charles Schwab will refund your fees and commission if you are not completely satisfied.

Charles Schwab Wealth Advisor has an account minimum of $1 million, and fees start at 0,80% of assets.

The firm acquired TD Ameritrade in 2020.

8. Citi Private Bank

Citi Private Bank is a subsidiary of Citigroup and has 60 offices in 23 countries. It offers private banking services to over 14,000 ultra-high-net-worth individuals, including 25% of the world’s billionaires, to protect and grow wealth worldwide. Its services are customized and focus on larger, more sophisticated clients with an average net worth of $100 million.

9. BNP Paribas Wealth Management

BNP Paribas Wealth Management has $432 billion in assets under management as of June 2022, with 6,800 professionals in Europe, Asia, and the US, ranking first in the Eurozone.

BNP Paribas Wealth Management provides a one-stop shop for the financial needs of wealthy individuals and entrepreneurs.

Clients can opt for discretionary portfolio management, where they delegate their portfolio management to the BNP teams. They can use Strategic-A, which is a decision-making tool to identify asset allocation guidelines for the future.

At BNP Paribas Wealth Management, clients benefit from the advisor’s guidance on over 850 international stocks in the USA, Asia, and Europe.

10. Julius Baer

Julius Baer is a Swiss wealth management group, located in 28 countries and employing over 6,600 staff. It has $460 billion in assets under management.

Julius Baer caters to wealthy individuals by prioritizing a complete understanding of the client’s situation, establishing their wealth requirements and defining a strategy to meet them.

What matters to the client is at the core of this strategy, whether it is a business, making the world a better place, retiring abroad, or creating a succession plan.

The firm’s investment approach allows the client to play either a passive or active role in implementing their investment strategy.

What Does A Wealth Management Company Do?

If you’ve heard of wealth management companies before, you must now be wondering, “what do wealth management companies do?” Pillar Wealth Management, like most wealth management companies, defines wealth management as a group of financial services that are developed especially for high net worth and ultra-high net worth clients. Our expert team of wealth managers has more than 60 years of experience in assisting investors who have liquid investable assets valued between $5 million and $500 million.

Here is a list of services that we provide:

• Investment Management
• Tax Management
• Risk Management
• Wealth Transfer
• Asset Allocation Analysis
• Retirement Planning
• Insurance Planning

Sign up for a free consultation on our website to learn more about the services we provide.

Investment Management

Are you an investor who’s looking to maximize his/her gains? If so, you will have to allocate your assets optimally. Even though this task sounds simple, it’s actually quite tricky to execute.

Pillar Wealth Management, like most wealth management companies, has competent wealth managers who will study your portfolio in detail and come up with several techniques to maximize your returns. With their in-depth understanding of financial markets and how they operate, they will ensure that you make the right decision regarding your investment. Read our comprehensive guide, Improving Portfolio Performance to know more about boosting your portfolio’s performance.

We know how cumbersome it is to stay updated with market trends. Thus, we highly recommend that you let our experienced team take care of this job for you!

Tax Management

You might be already aware of the taxes you have to pay when you make a gain or when you sell your investment at a profit. But what you probably didn’t know is that several techniques can effectively reduce the amount you have to pay.

Pillar Wealth Management, like most wealth management companies, has expert wealth managers who will thoroughly go through your portfolio and discover areas where you could save on taxes. Why should you pay more taxes than what you absolutely have to! Register on our website for a free consultation to know more about the tax-saving techniques you can implement.

Moreover, our team will also keep a check on the assets in your portfolio and will inform you if you know any taxes on them. This way you won’t have to worry about delaying or even missing out on your tax payments.

Risk Management

If you’re a high net worth or an ultra-high net worth individual, you can invest in assets from several different markets. But you need to know that your assets are susceptible to plenty of risks. Sudden or unforeseen market shifts can nullify your gains within just a few seconds.

The good news is that you don’t have to worry about this! Our wealth managers at Pillar Wealth Management, like at most wealth management companies, can help in developing plans and strategies to minimize your risk from such unpredictable market turns.

We will study your portfolio and identify assets that are exposed to risks. Plus, in our guide for investors who have $10 million or more, we talk about why risk tolerance shouldn’t be the most influential factor in your investment strategy.

If you want to diversify your asset portfolio, we can assist you in selecting the right avenues to invest. Using this approach, you can achieve higher gains as opposed to investing arbitrarily in several financial markets. To get more information on the various asset allocation strategies, read our book – The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.

Wealth Transfer

Once they reach a certain age, some high net worth, and ultra-high net worth individuals transfer a portion of their wealth to their children. Even though this procedure sounds simple and straightforward, it has many inconspicuous risks that you have to factor in your decision-making.

For example, if your assets are connected to your business, you should consider transferring the ownership of your firm to your children. However, you will need to have a complete exit strategy to make sure that your company continues to operate smoothly once you exit. Pillar Wealth Management, like most wealth management companies, has expert wealth advisors who will help you create a transfer strategy to ensure that your business stays secure.

Asset Allocation Analysis

Mastering the art of allocating your assets in the correct places requires a lot of experience. Plenty of investors go wrong in the beginning phase of their careers. But over time, they do learn the skills of investing correctly.

Pillar Wealth Management, like most wealth management companies, will realize that you lead a busy life, and you don’t have the time to learn the ins and outs of investment decisions. Additionally, making a wrong move can cost you a lot of your hard-earned money. Therefore, we offer you asset allocation services, so you don’t have to spend your precious time developing this skill.

Our wealth managers acknowledge that every high net worth and ultra-high net worth client has their own investment parameters, risk tolerance, and return expectation. Thus, they factor in all of these details when studying your portfolio. This allows them to give you recommendations that are aligned with your personal preferences and needs.

Retirement Planning

When you retire, you will no longer have an active income source, and you will become dependent on the passive income generated by your investments.

Some investors prefer to spend their retirement with their savings comfortably. But some investors set specific financial targets that they want to achieve after they have retired. Whatever your objective may be, our wealth managers have sufficient experience to guide you.

Pillar Wealth Management, like most wealth management companies, will thoroughly analyze your portfolio and devise a practical and realistic strategy to keep your assets secure. Plus, we can even come up with plans that can increase your wealth even after your retirement. Make sure to read our helpful guide to know more about strategies for maximizing portfolio growth.

Insurance Planning

Every investor needs to prioritize their own wellbeing. However, unpredictable turns in life and tragedies can take place. Such incidents can turn your life upside down and hinder you from getting the financial serenity you always wished for.

Some high net worth and ultra-high net worth individuals invest in disability insurance, long-term care insurance, and life insurance to ensure that their wealth stays safe in case a tragedy happens. Nevertheless, selecting the ideal insurance plan is not a simple job.

Insurance companies are very adept at convincing clients to take up plans that they don’t need or plans that don’t offer the coverage that is advertised. Pillar Wealth Management, like most wealth management companies, has wealth advisors who will help you make the right choices so that you stay protected in every situation.

Should I See an Accountant or Financial Advisor?

If you’re seeking financial advice, you might be thinking, “Should I see an accountant or a financial advisor?” Depending on your circumstances, you could either need one or the other or even both. To help you understand the difference, here’s a breakdown of when you should see an accountant or financial advisor.

Do You Need A CPA

Most people generally do not need a CPA. However, there are certain situations where you will require their assistance. For instance, you will need an accountant if you:

• Run your own firm
• Have an income of more than $200,000
• Plan to transfer your wealth to your children
• Own rental properties
• Anticipate receiving a significant capital gain.

In simple words, a CPA can help you with specific problems that most people do not face. They can review your tax situation and will assist in structuring your finances. So, if you’re a high net worth or an ultra-high net worth individual, you should consider hiring an accountant to help you comprehend the laws on taxes and bookkeeping.

Moreover, suppose you’re going through a significant life change that can impact your finances, such as buying or selling property, divorce, retirements. In that case, you should hire an accountant to get financial serenity.

Pillar Wealth Management, like other wealth management companies, can coordinate with CPAs to ensure that your finances stay secure and develop plans that will help you achieve your long-term financial goals.

Should You See a Financial Advisor?

A financial advisor is different from an accountant. If you’re seeking advice related to asset allocation, investment, etc., you should use a financial advisor. Some of the areas that a financial advisor can help you include:

• Investment Planning
• Insurance Planning
• Retirement Planning

Pillar Wealth Management, like many wealth management companies, has financial advisors who can provide you with all of these services and more.

Should I Use a Wealth Management Company?

If the biggest question on your mind right now is, “should I use a wealth management company?” then let us tell you that aren’t alone!

Many high net worth and ultra-high net worth individuals tend to ask this question very frequently. After all, you can avail all of the services highlighted above from several firms throughout the financial industry.

While we agree to this, we want to let you know that our wealth managers at Pillar Wealth Management can assist you with various financial issues. We will analyze your portfolio and evaluate your finances to offer you holistic advice.

We are aware of the fact that many high net worth and ultra-high net worth individuals do not possess complete knowledge of financial markets and investment decisions. Therefore, we prepare strategies that you can easily comprehend and implement.

So, to conclude, you should be looking at wealth management companies if you:

• Own liquid investable assets between $5 million and $500 million and are looking to protect and increase them,
• Are looking to save on fees, expenses, and taxes,
• Are not satisfied with the services you’re getting from your current advisors,
• Are going through a life-changing phase such as divorce, retirement, real estate or business sale, or the loss of a loved one.

Who Are the Best Wealth Management Companies Near Me?

If you have decided to use a wealth management company, you must be wondering, “which are the best wealth management companies?” Well, the answer to your question isn’t that difficult! You can easily find several wealth companies that you can opt for.

Nevertheless, you need to make sure that the wealth management company you use is the right fit for your requirements. Read our useful guide to know how you should choose the right wealth management company for your preferences and needs.

These are the factors that you need to examine when choosing among the wealth management companies you may be researching:

Experience

One of the most critical things you should be aware of when looking at wealth management companies is the experience they have. If you hire a wealth management company with inexperienced wealth managers, your assets will be at risk. Amateur wealth managers do not know much about sudden market changes and how to deal with them.

Therefore, you must avail the services of an experienced firm. At Pillar Wealth Management, we have more than 60 years of providing services to high net worth and ultra-high net worth individuals. So, we can surely assist you in making smart investment decisions to ensure that you meet your financial targets. Sign up for a free consultation at our website now to speak to our experienced wealth management advisors.

Personalized Service

We strive to offer personalized services to every client that comes our way. We ensure that we listen and understand your unique requirements before offering you financial advice. Our wealth managers invest a lot of time in studying and analyzing your portfolio to offer you investment strategies that are most appropriate for you.

A Few Last Words

Pillar Wealth Management, like most wealth management companies, has wealth managers who have assisted many high net worth and ultra-high net worth clients. We guided our valued clientele during the 2008 Financial Crisis and are presently working with them to withstand the COVID-19 pandemic. Based on our experience, we believe we are the wealth management company that you should opt for.

So, what are you waiting for? Visit our website NOW and sign up to consult with our expert wealth management advisors. It’s absolutely free, so you have nothing to lose!

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