Charles Schwab Private Client Reviews

This post has been created after going through myriads of Charles Schwab private client reviews and is particularly geared towards high net worth and ultra-high net worth earners experiencing colossal amount of complexity in managing different aspects of their wealth. If you have liquid assets worth at least $5 million and above, you should ask for a free copy of our guide 7 Secrets to High Net Worth Investment Management, Estate, Tax, and Financial Planning. The guide ideal for high-income earners and ultra-high-income earners who have $5 million to $500 million worth of liquid wealth. The guide introduces readers to the essentials of wealth management and financial planning, among other things and explains what you can expect from the best wealth management company

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.

When you have wealth exceeding the $5 million mark, there are seemingly endless things to plan, manage, and organize; more so if you intend to perpetuate that wealth for your retirement days. Fortunately, you won’t have to do this alone. Pillar Wealth Management offers professional wealth management services to reduce complexity and help high earners attain their most important financial goals. We 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. Such a combination is put together so 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 safer and more comfortable future.

Till then, we’ll help be answering some of your most frequently asked questions: “What does Schwab Private Client charge?”  “Are Schwab Private Client Advisors fiduciaries?” and “Can I trust Schwab?”

Charles Schwab Private™: Background

The Schwab Private Client™ is backed by Charles Schwab and provides a range of professional wealth management services to cover key aspects of your financial life and help you realize your most important financial goals. Apart from helping you to choose the right mix of investments, a Charles Schwab Private Client Advisor will also guide you through crucial areas of wealth management to ensure you are on the right track.

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Source: Schwab

 One enrolled with Schwab Private Client™, you should expect to get:

  • A dedicated financial consultant supported by an experienced and competent team.
  • A tailored approach to wealth management that embodies your entire financial life, starting with your special financial objectives.
  • A comprehensive wealth management plan paired with continuous investment guidance and advice that changes according to your personal needs and requirements. 

These are few of the services you can expect from Schwab Private Client™. However, it is worth nothing that it’s not the only financial institution out there holding this prowess. The wealth managers at Pillar Wealth Management are highly qualified at minimizing investment risk while 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. Or you can click here to read our exclusive guide on high net worth investors who own $10 million in assets to learn how you can improve investment performance.

Now that you know a bit about Schwab Private Client™, let’s move to a more imperative question: what does Schwab Private Client charge? 

What Does Schwab Private Client Charge? 

The annual charge for Charles Schwab Private Client starts a 0.80% of assets. But please note that the percentage of charged fee decreases as asset levels increase. Text Box: How Much Money Do You Need to Invest with Charles Schwab?

Investors need at least $1 million to enroll for Schwab Private Client.

In addition to this, the fees charged for an account are also based on daily asset levels and are applicable at the end of each quarter. Furthermore, there are no extra charges for withdrawals.

Here is the fee schedule for different levels of billable assets.

Billable AssetsFee Schedule
First $1 million 0.80%
Next $1 million (more than $1M up to $2M)0.75%
Next $3 million (more than $2M up to $5M)0.70%
Assets over $5 million 0.30%

Are Schwab Private Client Advisors Fiduciaries?

It may be hard to believe but none of the major brokerage companies out there are fiduciaries since that kind of service typically demands an independent specialist who knows substantially more about your basic financial goals as well as your unique investment management plan.

So, it all comes down to this: what or who exactly is a fiduciary?

The best interest of each and every client is the driving force of fiduciaries. Fiduciaries operate in such a way that all their advices and suggestions revolve around the best interest of their clients without any fail. Therefore, to truly live up to the fiduciary standard, a financial advisor must thoroughly be aware of the unique circumstances of each one of their clients so that they are able create financial plans based on their special requirements. In addition, they also cannot be obligated to the needs of a bigger firm.

Keep all this view, it will be safe to say that Schwab’s in-house private client advisors are not fiduciaries. Nevertheless, several of the financial advisors in their Financial Advisor Network are fiduciaries.

If you are searching for expert and professional fiduciary advisors, don’t look far. Pillar Wealth Management’s seasoned financial advisors are registered investment consultants who’ve been acting as fiduciaries to high net worth and ultra-high net worth clients for years. Our clients love our highly curated proprietary investment process and customized services, in addition to enjoying all the benefits that come with a Schwab Private Client account.

Schedule a free conversation with one of our top financial advisors to learn what our proprietary investment process suggests for your investments, and how it can offer you complete peace of mind regarding your financial footing. All our advisors have years of experience in serving high net worth and ultra-high net worth individuals and families.

If you’d like to learn some effective portfolio strategies to manage your wealth, be sure to give our in-depth guide, 7 Secrets to High Net Worth Investment Management, Estate, Tax, and Financial Planning, a read.

Can I Trust Schwab?

Charles Schwab is a prominent brokerage firm operating online. It has been at the front of the industry’s move to ETF trading and commission-free stock and undertook two massive acquisitions recently, with TD Ameritrade being most noteworthy. The company has also on boarded additional several million dollar-worth clients on its platform in the past year, proving that it isn’t a niche industry player. In fact, Charles Schwab has clients spanning the entire range of investor kinds, from amateurs to highly advanced.

Additionally, the company also owns various platforms to meet the diverse and unique needs of its clients. Charles Schwab offers a browser-based site – a highly customizable and sophisticated workstation. But people actively trading on margin or trading exclusively in options, as well as those seeking to trade in crypto currencies, foreign exchange, or futures might find better and more lucrative options elsewhere.

As far as trust is concerned, Charles Schwab has a long and credible history of safety in the investment industry. The platform is registered with the FDIC and offers banking services, forming an additional layer of protection for bank deposits.

If you are searching for a trustworthy wealth management firm to hand over your wealth to, be sure to keep the following pointers in mind:

  • The right wealth manager will develop a tailored plan that’s based on your complete financial footing, covering areas such as estate planning, retirement, taxes, health care, travel, etc.
  • At Pillar Wealth Management, we believe in using different tax-smart investing strategies to manage portfolios to help you retain more of your existing wealth.
  • Wealth management firms hold assets worth millions and even billions of dollars under their management, but that alone isn’t an indicator of how well they serve their clients. Therefore, we recommend you to consider their past history before signing the deal. The more you research, the more confident you’ll feel in signing up with a firm.

Although there are numerous brilliant wealth and investment management firms out there in the market, it is important to understand that when it comes to high net worth and ultra-high net worth investors, custom solutions are what actually matter. Getting the most out of your money is all about personalization and knowing what your financial needs are vs. being just another addition to a client list. Moreover, it’s also about what high net worth investors like you expect, demand, and deserve to receive from the best financial advisors.

Remember, each wealth management company is unique in its services and offerings. Consequently, deciding which company is the best can be rather a very personal choice. Nonetheless, the best advisors work closely with all their clients to identify and understand their unique financial goals and develop comprehensive plans to accomplish them accordingly.

At Pillar Wealth Management, we offer services of qualified wealth managers, who have years of experience in managing high-profile portfolios of high net worth and ultra-high net worth individuals. They’ll share key insights with you to help you understand what wealth management entails and how you can profit from it the most.  Get in touch with our team today for a free one-on-one consultation.

Remember, singing up with a wealth or investment management company is one of the most crucial financial decisions you’ll ever make; thus, handle it with meticulous attention to detail. After all, you’ll be spending considerable amount of money in commissions or fees to them for their level of service.

How Pillar Wealth Management Can Help?

Besides the $1 million requirement, there are several other benefits to consider working with a wealth management firm. Give us a call today and talk to our wealth managers to learn what those benefits are.

After assessing Charles Schwab private client reviews, we can safely say that their services may not be entirely suitable for high net worth or ultra-high net worth individuals and families that require a more holistic approach regarding the management of their wealth. And that’s exactly where Pillar Wealth Management can help. Founded in 1988, the company offers 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 out motto.

We believe Pillar Wealth Management is one of the top ultra-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 to maximize their wealth for a more comfortable and secure future. 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.

More from authors.

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