This Bank of New York Wealth Management guide is geared towards high net worth and ultra-high net worth individuals who’re having trouble managing the several aspects of their exorbitant wealth. If you have liquid investable assets worth $5 million or above, do ask for a free copy of our guide 7 Secrets to High Net Worth Investment Management, Estate, Tax, and Financial Planning. The guide is particularly geared towards high-income earners and ultra-high-income earners who hold $5 million to $500 million worth of liquid investable assets. The guide will introduce you to the essentials of wealth management and financial planning, among other things and explains what you can expect from the best wealth management firms.

STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION

 

7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning

 

The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.

Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.

Although wealth management is important for everyone, it becomes more imperative for investors with liquid investable assets worth $5 million or above since with greater wealth comes great responsibility. With such huge amounts of money, it can easily get overwhelming for investors to manage, plan, organize, and oversee their wealth. This is where wealth management firms like Pillar Wealth Management can help. With an array of expert fiduciary services, we can downgrade complexities related to high wealth in order to deliver efficiency across all your assets and investments for a brighter and more affluent future.

So, no matter where you’re located in the USA, Pillar Wealth Management can help you with effective investment and wealth management solutions. With 60+ years of experience in wealth management, investment management, tax planning, estate planning, business succession planning, and more, we’ve established a reputation for delivering reliable tailored solutions to high net worth and ultra-high net worth clients that have liquid assets between $5 million and $500 million. We use both active as well as passive management. Using such an approach ensures that the best interest of every client is achieved. You can even book a no-obligation meeting with one of our team members to learn about all available options to safeguard and perpetuate your wealth for a more comfortable retirement.

Till then, as an expert in our field, we’ll provide you with some insights about the Bank of New York wealth management. Some of the most frequently asked questions by our readers and clients include:

  • What is BNY known for?
  • Who owns the bank of New York?
  • What banks offer wealth management?

Let’s get started.

Bank of New York Wealth Management: Overview

Presently known as the Bank of New York Mellon, this wealth management firm is a result of the merger between the Bank of New York Company, Inc. and Mellon Financial Corporation. The company’s roots date back to 1784, when Alexander Hamilton founded The Bank of New York – the oldest private bank in the United States. 

BNY Mellon’s wealth management financial consultants and advisors work with institutions, individuals, and families worldwide. The company provides its clients with services ranging from wealth planning and investment management to private banking and lending and credit services. Bank of New York Mellon also declares to be among the first companies to establish a dedicated family office business.

BNY Wealth Management Minimum Account Size and Client Types

BNY wealth management firm works with high net worth and ultra-high net worth individuals and families, non-profit organizations, family offices, insurance companies, government entities, pooled investment vehicles, 529 plans, pension and profit-sharing plans investment companies, corporations and other businesses. 

The firm specializes in fulfilling the complex banking and investment needs of affluent individuals and their families. The company hasn’t specified minimum account sizes; however, it does usually charge a minimum fee (yearly) for its investment advisory services $25,000 to $250,000 is typically the minimum fee range for its separately managed accounts and varies based on the investing strategy used.

Services Offered by BNY Wealth Management

The company boasts a notably extensive range of services, several of which are made possible due to it being part of a larger global financial and banking services firm. But please note that the services available somewhat vary by client type.

BNY Wealth Management functions through four investment product lines: 

  • Fixed Income Product Line
  • Equity Product Line
  • Multi-Asset Product Line
  • Index Product Line

The firm might also offer supplementary relationship-based services to existing and prospective clients. Relationship-based services are conferred individually with every client and might entail certain account trading, monitoring, or strategic allocation services. BNY Wealth Management might offer advice through research reports or consultations. The nature of the consultation usually depends upon the client’s requirements. Topics might include, but aren’t limited to:  product development, asset allocation, evaluation of new investment services, etc. Consider using our $10million guide to learn how you can save $100,000/$10 million in assets.

Below we’ve outlined some of the wealth management services offered by Bank of New York Wealth Management:

Wealth Management Services Offered by BNY

Supported OptionsUnsupported Options
Estate planningFinancial reporting
Tax planningDispositions and acquisitions
Cash managementDue diligence
Strategic research 
Investment advice 
Accounting 

These are few of the services you can expect to receive from the Bank of New York Wealth Management. However, it’s worth nothing that it’s not the only financial institution out there offering these services. The wealth managers at Pillar Wealth Management are highly qualified at minimizing investment risk and amplifying investment performance via high net worth advisory services.  Set up a free meeting with us and find more about how we can enhance your investment results.

Now that you know a bit about Bank of New York Wealth Management and its offered services, let’s move to another imperative question: what is BNY known for?

What Is BNY Known For?

BNY is the largest asset servicing firm and custodian bank worldwide with $46.7 trillion in assets under administration/custody and $2.4 trillion in assets under management. The firm has access to one of the globe’s largest financial datasets, making it perhaps one of the safest amongst wealth management programs. Although the main focus of BNY is on ultra-high net worth investors, their programs are also open to family businesses and NGOs.

Indeed, Bank of New York Wealth Management is a reputed name in the financial industry, it is important to understand that custom solutions to high net worth and ultra-high net worth investors is what matters most. It’s about personalization and knowing you and your family’s financial needs vs. being just another addition to a client list; as it’s usually the case with the big Wall Street firms. It is also about what high net worth and ultra-high net worth investors like you should demand, expect and deserve from the best wealth management company.

Remember, each wealth management firm is unique in nature. Therefore, the process of choosing a company to trust your wealth with is going to be a very personal one. The best wealth managers closely work with each client to identify their financial goals and develop an extensive plan that accomplishes them.

At Pillar Wealth Management, we offer services of qualified wealth managers, who have years of experience in managing high-profile portfolios of ultra-high net worth individuals. They’ll share key insights with you to help you understand what financial investment and its management entails, as well as explain how you can most benefit from it. As stated earlier, we are a fiduciary advisory firm with a collective experience of 64+ years in wealth management, investment planning, tax planning, estate planning, business succession planning, and more.

Get in touch with our team today for a free one-on-one consultation. You can even use our Planning to choose a wealth specialist that can help you further maximize your wealth.

Who Owns the Bank Of New York? 

The majority of BNY’s 1.16 billion shares are owned by institutional investors whereas company insiders (including corporate executives and board members) hold 0.36% of the outstanding common stock. The remaining 15% is owned by the public at large.

Key Institutional Investors

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Key Company Insiders

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What Banks Offer Wealth Management?

There are several banks out there offering wealth management services. But you must remember that onboarding with a bank for wealth management is one of the most crucial financial decisions you’ll ever make. Therefore, it should be handled with great attention and caution. After all, you’ll not only be trusting your lifelong earnings with them but will also be spending hefty amounts as fees or commission.

Below are some good guidelines to follow when choosing a bank for wealth management services:

  • Understanding the bank’s client service model is a good indicator of what you’ll be receiving. If what you’re seeking is not part of their customer service model, look for another firm since your needs won’t be satisfied here.
  • Ask whether the bank will be managing your wealth or your investments since there’s a huge difference between both. Investment management focuses more on asset allocation and return whereas wealth management requires a more holistic approach.
  • Scrutinize the bank’s investment approach since it reveals a lot about its credibility. Majority of wealth managers focus more on active investment management, which usually entails greater transaction fees, charges, risks, and taxes. On the contrary, a passive approach focuses more on long-term gains while minimizing risks, resulting in lower fees and taxes.
  • The particular need that’s driving the choice of your wealth management firm today may be very different from what you may need a few years from now. That’s why it’s important to evaluate the breadth of services offered by a wealth management firm. A company that offers a full range of wealth management services and capabilities will be able to better meet your needs as your financial journey changes and grows over time.

Remember, the best wealth management firm can also improve your investment portfolio’s performance. Feel free to give us a call today and talk to one of our seasoned wealth managers for free.

Get Started with Pillar Wealth Management…

Merrill Lynch Wealth Management provides an array of beneficial investment and wealth management services to clients, including high net worth or ultra-high net worth individuals and families. However, it’s worth nothing that they’re not the only one holding offering these services. Pillar Wealth Management provides a more holistic approach to high net worth or ultra-high net worth individuals and families when it comes to the efficient management of their wealth.

Established in 1988, Pillar Wealth Management provides expert fiduciary wealth management services to high net worth and ultra-high net worth clients. Prioritizing the needs of every client and ensuring their wealth and financial goals are achieved is their motto. We believe Pillar Wealth Management is one of the top high net worth wealth and investment management firms in California, US. Our expert wealth managers will protect your long- and short-term financial interests. Under the guidance of our co-founders, Hutch Ashoo and Chris Snyder, who collectively have over 64 years of experience in wealth management, the company has facilitated several high net worth and ultra-high net worth individuals and their families in maximizing their wealth for a more comfortable and secure future. Set up a free in-person consultation with one of our seasoned wealth and investment managers to see how we can assist you in accomplishing your financial goals! At Pillar Wealth Management, we offer professional, qualified wealth planning services, such as wealth management, investment planning, tax planning, estate planning, business succession planning, and more. However, we specialize in services for investors from $5 million to $500 million. The priority of our investment managers is to deliver a reliable, personal, and reassuring experience to leave clients safe in the knowledge that their hard-earned wealth is in the right hands.

Authors

To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.

We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.

You see, our goal is to only accept 17 new clients this year. Clients who have from $5 million to $500 million in liquid investable assets to entrust us with on a 100% fee basis. No commissions and no products for sale.

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To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.

We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.

You see, our goal is to only accept 17 new clients this year. Clients who have from $5 million to $500 million in liquid investable assets to entrust us with on a 100% fee basis. No commissions and no products for sale.

More from authors.

Related Posts

  1.  JP Morgan Wealth Management Minimum GuideThis JP Morgan wealth management minimum guide is especially for high net worth and ultra-high net worth individuals…
  2. Citi Personal Wealth Management ServicesInvestors with a large number of liquid investments may seek advice from financial professionals who are well…
  3. Merrill Lynch Wealth Management Fees: A Guide – Millionaires often seek professional assistance to manage their wealth and grow their assets in a diversified portfolio…
  4. Bank of New York Wealth Management GuideThis Bank of New York Wealth Management guide is designed for high and ultra-high net worth individuals who may be having trouble…