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Wealth Management Companies – Everything You Need to Know About Them

Have you amassed a lot of wealth and want to ensure that you invest it properly? Wealth management firms provide high-level financial planning services. These firms not only offer financial advice to the client but also help with investment management.

They assist in handling complex financial concerns and coordinate with the various financial experts in the industry on behalf of their clients. One such firm is Pillar Wealth Management, LLC. which specializes in wealth management for clients who have liquid investable assets from $5 million up to $500 million.

Wealth management services are suitable for affluent clients. Well, you might be thinking you do not require their services right now. However, things change over time, and you might need to be on the lookout for the best wealth management firms. Let’s dig in to find out more.

Are you ready to find a wealth management company that can help you manage $5 million or more in liquid assets? Schedule your consultation call with Pillar Wealth Management, LLC.’s co-founders Hutch Ashoo and Chris Snyder.

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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.

Top 10 wealth management firms by AUM

1.UBS Wealth Management$2.6 trillion
2.Credit Suisse$1.25 trillion
3.Morgan Stanley Wealth Management$1.24 trillion
4.Bank of America Global Wealth & Investment Management$1.22 trillion
5.J.P. Morgan Private Bank$677 billion
6.Goldman Sachs$558 billion
7.Charles Schwab$506.3 billion
8.Citi Private Bank$500 billion
9.BNP Paribas Wealth Management$424 billion
10.Julius Baer$423.5 billion
The largest companies by assets under management, source: wealthprofessional

What Do Wealth Management Firms Do?

Wealth management firms play a significant role in handling financial transactions that take place across the globe. As their goal is to enhance their client’s wealth, different companies try to accomplish this using various means. However, the purpose of the firm is inextricably associated with the client’s goals.

wealth management companies

That is, as the client succeeds financially, the firm also benefits from it. Here are some of the aspects that the wealth management firms help you with:

1. Major Life Changes

For sure, in life, you cannot be certain about anything. Your life circumstances may completely change in the blink of an eye even before you think about it. These changes in your life can have a drastic effect on your financial situations. A few of these considerable changes include purchasing a house, getting married, having a kid, changing a career, or planning to retire.

All significant changes that take place in life come with a considerable amount of stress. These mainly take place in situations where you must make huge decisions concerning your finances. That’s when getting help from a wealth management firm proves to be of great benefit.

These companies offer great support and guidance as you channel through the substantial changes in your life. Moreover, you will feel assured that your finances are secure in the best hands, even during the most overwhelming and stressful circumstances in your life.

2. Provides Access to Various Services

These firms assist in monitoring your financial wellbeing and make necessary alterations when required. Some of the services that they offer include:

• Asset management.

• Financial planning.

• Customized investment solutions.

Retirement income planning.

• Household budget management.

By working with a wealth management company, you get access to several financial services under one roof. Moreover, you can maintain a strong relationship with your wealth managers or advisor rather than hunting for expertise from several businesses or advisors.

Before learning more about wealth management firms, be sure to get your copy of our guide Improving Portfolio Performance: The Shifts Multi-Millionaires Must Make To Achieve Financial Security and Serenity from our team at Pillar Wealth Management, LLC.

3. Retirement Preparation

During retirement, you are no longer employed. That means the income you have saved for so long will undergo a series of changes. By using your pension, you will be able to manage your day-to-day needs and pay for the bills. However, you are not sure if that will be sufficient.

Since you are no longer working, it can even build up a lot of stress. Hence it is essential to have a solid plan for your retirement. By connecting with these wealth management firms, they will offer you proper guidance in creating a long-term strategy as you retire. This includes various aspects that involve your property, investments, liquid assets, and so on.

4. Boosts Confidence

When it comes to your financial situation, these firms can take the stress away by managing your finances. This gives you the confidence that your finances are safe as you’re looking to the future. It also keeps you from worrying about the viability of the choices that you would make on your own.

It is not difficult to find high-quality financial advisors. This is because these companies have years of experience in various fields under their belt. Moreover, they are aware of what will work and what won’t and are capable of identifying the upcoming trends. Furthermore, you will be able to create a strong bond with your financial advisor.

This enables them to understand your goals, overall lifestyle, and finances, which in turn helps them in analyzing your assets for the present as well as for the future.

5. Helps Set Goals

The best way to start preparing for your future is by setting goals. This is a crucial process and, at the same time, extremely delicate. You seriously must consider what exactly you want, what your aspirations are for your future, how your financial conditions can or will affect those goals and your finances.

With the help of a wealth management advisor, you will be able to create manageable and realistic goals for your future. These can have various time frames ranging from one to five years or even up to 10 or even 50-year goals. It’s more about careful planning with sufficient time so that you will be able to plan and execute in advance what you require to achieve your goals.

Are you searching for a financial planner that manages clients with $5 million to $500 million investment portfolios? Learn how Pillar Wealth Management, LLC. can help. Sign up for a free consultation with company co-founders Hutch Ashoo and Chris Snyder today.

6. Offers Expert Advice

The best way to find out if the services provided by these companies are beneficial or not is by contacting them directly. Request a no-obligation consultation to find out if the expert advice provided by them suits your requirements. This will help you find customized options that work well for you, which include:

• Handling fixed income securities.

• Analyzing and selecting individual stocks.

• Setting up and handling retirement accounts.

If you need a fee-only financial planner and you have $5 million to $500 million in assets to manage, we can help.

How do Wealth Management Companies work?

Understanding the aspect of money management and its role will help in finding the right person to set your financial goals. You will also be able to find out numerous money management options that are available in the market.

These firms have managers that work closely with the portfolios of clients. They analyze and consider various variables, such as the unique circumstances, preferences, and risks associated with the clients.

They also select positions for the client, depending on their liquidity expectations, tax circumstances, and income requirements. The decisions are also made based on the client’s personality and values.

You will also come across high-end firms that cater well to the client’s whims and fancies, thereby offering a customized experience. Often, the relationship between the company and the client will span over generations as wealth is transferred to the heirs.

Are you taking the precautions necessary as a high net-worth individual to protect your wealth? Here’s a resource we’ll send to you, titled The Art of Protecting Ultra-High Net Worth Portfolios and Estates: Strategies for Families Worth $25 Million to $500 Million which discusses strategies you should know.

Investing or Advising

Usually, wealth management companies take either of two approaches when managing the wealth of their clients. Let’s have a look at both these approaches.

The first type of company offers an active wealth management approach. These companies give you the assurance that they will actively buy and sell investments on behalf of their clients to maximize the financial returns.

They believe that they’re capable of timing the market by flipping assets at the right moment to gain favorable market returns. On a regular basis, these types of companies charge enormous fees for the services they provide. This is to cover the recurring transaction charges that they pay.

The second kind of firm provides financial advice or a passive investing approach. Companies that focus on this type of approach usually mitigate the risk associated with the clients. They then diversify their client’s wealth into numerous asset classes and empower and educate their clients to make significant financial decisions by themselves.

If you need an advisor but don’t know where to look, then receive your free resource titled, The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets, from our team at Pillar Wealth Management, LLC.

Trade Information

Every wealth management group knows each client’s situation is entirely different from another. Hence, they will try to understand the risk adversity and time horizon of the client before making any transactions on behalf of their client.

As for risk adversity, it’s the measure of the amount of risk that a person can handle. When a client is more risk adverse, there will be fewer types of investments in which they would be ready to invest.

When it comes to the time horizon, it’s the time frame for a person to wait before they require the money that’s held in their investments—a shorter time horizon results in limitations in the type of investment that can be made.

Would you like to know all the details of locating a wealth manager? Receive your free copy of The Ultimate Guide to Choosing the Best Financial Advisor for Investors with $5 Million to $500 Million in Liquid Assets to learn more.

How to Find the Best Wealth Management Company

Are you planning to hire a wealth management company? If so, your goals must be the following:

• To find a company that offers high annual returns.

• To find a company that charges a lower annual expensive ratio as the expenses consume the returns.

Finding such a firm can create a long-term relationship between the client and the company. Each company is different from any other, and you need to pick the right one that works well for you. Are you serious about building your wealth? If so, you need to follow the pointers below that will assist with making the right choice.

1. Compare What They Offer

Are you hunting for the right wealth management advisor? If so, you’re entirely aware of the specific area that you need assistance with. However, if that’s not the case, it’s essential to find out the different services and products each firm has to offer.

You need to consider if the company provides only investing advice or if they also provide estate planning and tax management assistance. Some groups specialize in specific strategies or investments. Some know stocks, while others specialize in real estate.

You must also pay careful attention to the company’s overall investment strategy to make sure that they are in perfect sync with your financial goals. While considering different companies, if you find all of them are offering the same portfolio options, it’s a signal that you need to hunt elsewhere.

2. Understand Their Ideal Client Requirements

Usually, money management companies assist clients who have a sizable asset base. However, not all of them adopt the same approach. Some groups prefer to work with clients that have assets ranging between $50,000 – $500,000. Whereas others work only with clients that are multi-millionaires.

Finding the distinct types of clients that the company handles will give you a general overview of their expertise. It will also help you to find out if their expertise overlaps with what you are searching for.

3. Check Their Pricing

Though these groups increment your wealth, they do not do it free of charge. There are several ways in which they price services. Some charge by fixing fees for a service or by charging commissions for the items they sell.

Not interested in getting bombarded by sales pitches each time you meet your adviser? Then opting for a fee-only wealth advisor would be the best choice. That style aligns your interest with your adviser’s, as the more you make, the more they make.

While checking on price, you need to consider the value you get for the price paid. Are you paying a considerable amount of your earnings as fees? If so, the performance of your portfolio should be worth the expense charged.

4. Study Their Track Record

Money management groups may have millions, billions, or trillions of dollars as assets under management. However, that does not mean that they are serving their clients well. You need to check and understand their history as well.

That is, have they received any special awards or recognition? Do they have any positive reviews on any consumer sites? Finding the background of these companies may be time-consuming, but worth the effort if you are planning to build your wealth.

5. Find Their Availability

You need to contact your wealth manager regularly though you don’t have to consult the firm daily. Finding out how often the advisors in these firms meet with the clients or the communication method that they prefer will help you figure out if you’re on the same page. This is because no one wishes to be left out in the dark, especially when it comes to financial decisions.

Final Thoughts

If you are a high-net-worth investor, you need get top financial services from a wealth management firm and its teams. You can use the internet and check Investopedia to find financial firms, whether you are living in San Francisco, New York, Los Angeles, the Asia Pacific, or any other area. You will find big-name companies like Credit Suisse, Morgan Stanley Wealth Management, BNP Paribas Wealth Management, UBS group, Global Wealth Investment Management, Citi Private Bank, Bank of America Private Bank, J.P Morgan Private Bank, Merrill Lynch Wealth Management, and many more.

You will find that these firms provide various financial services, like private banking, private wealth management, etc. However, those big companies will not guarantee that you will get the right and best service this is because as the number of clients is huge, you may get cookie-cutter financial planning rather than personalized planning. Therefore, selecting the wrong firm can be disastrous even for the next generation if you have plans to pass your wealth over to your heirs. If you need a wealth manager and you have $5 million to $500 million to invest, let’s talk. Our team at Pillar Wealth Management LLC. can offer you a no-obligation consultation with company co-founders Hutch Ashoo and Chris Snyder.


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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