Financial Advisor Atlanta:
The Complete Guide to What We Do
It is common to wonder if you need a financial advisor Atlanta to help manage your wealth and optimize your portfolio when you have over $10 million in liquid assets.The answer is yes!Here’s a complete guide on finding one who understands your financial situation and devises a customized plan for you to help you achieve your short and long-term financial goals.
The following questions and concerns may pop up in your headabout working with a financial advisor.
- Do you need a financial advisor when you live in Atlanta?
- What you should know before you hire a financial advisor
- Where can you find a financial advisor for high net worth individuals?
- Who are the best financial advisors in Atlanta?
In this blog, we’ll discuss everything you need to know before working with a financial advisor Atlanta.
Before we begin, let’s tell you that we have a specialized team of financial advisors atPillar Wealth Management who have been working with individuals with $5 million to $500 million in investable wealth for over 60 years in combined experience. Our experts will listen to your concerns in order to understand the ins and outs ofyour current financial situation before developing a personalized planto help you achieve the financial serenity of your dreams. With us, you don’t have to worry about hidden costs,amateur wealth management plans, and high-risk portfolios.Call us TODAY and schedule a free, no-obligation consultation with one of our experts.
Table of Contents
Do You Need a Financial Advisor When You Live in Atlanta?
Yes, you absolutely do!
A financial advisor Atlanta can help you with wealth managementin various ways, including estate planning, retirementplanning,tax planning, and philanthropy. If you have a high level of investable assets and want to invest smartly so that you can live off the profits after retirement,hiring the right financial advisor for your individual needs is crucial.
You must understand that with the high net worth or ultra high net worth status comes a great deal of financial challenges and risks.Your financial problems are more complex than what average Americans struggle with. Hence, they should be solved with extra prudence and care.This means that you don’t need just any financial advisor to help manage and grow your wealth. You need the assistance, guidance, and support of an expert who works exclusively with affluent individuals and is equipped with the necessary knowledge and resources to help you optimize your wealth portfolio.
To help you understand what financial advisors do for ultra high net worth individuals and how you can find the most suitable expert for your specific financial goals, needs, and problems, we have prepared a short guide for you. Please read it here.
What You Should Know before You Hire a Financial Advisor
Financial advisors or financial planners are experts dedicated to helping clients deal with wealth management issues and other money problems. You can ask them to create a timeline-based retirement savings plan as per your current financial situation or simplyask for life insurance advice.
Below is an overview of the things a financial advisor Atlanta can do for you.
- Discuss your current financial situation and inquire about your short and long-term goals
- Devise a comprehensive plan that talks about retirement, estate tax, insurance, and so on
- Give expert advice on crucial financial matters and offer guidance during tough times
- Help you invest funds or set up investment accounts
- Help you find the most suitable financial vehicles based on your unique needs, including mortgages and insurance policies
As a high net worth or ultra high net worth individual, you may often find yourself confused because of various wealth management problems. You may not see the full picture of what your retirement will be like and where you want to be in your golden years, let alone plan your life.
This is where a financial advisor comes in!
These professionals can not only offer advice on retirement planning, investments, estate planning, tax liability, but also help you devise an effective plan to help you achieve all your goals. The breadth of knowledge possessed by these experts canhelp you make smart, well-informed financial decisions, enabling you to lay a strong foundation for a financially secure future.
Some financial advisors also go the extra mile and actively help you invest in financial products like CDs and mutual funds and buying insurance policies and annuities that suit your needs and requirements best.Moreover, they can even work with your trust and estate lawyer on your behalf.
That being said, financial advisors may take different approaches when helping affluent individuals with wealth management.Someprefer taking the active management road while others think passive management is the way to go. At Pillar Wealth Management, we believe that combining the strengths of both these approaches brings out the best results for high net worth and ultra high net worth individuals like you.If you want to achieve the financial serenity you’ve always wanted, you need to shift your mindset and develop a financial plan using active and passive management techniques. We have talked about the other five critical shifts that you must make to maximize your portfolio performance in our guide here.
5 Factors You Must Consider before Hiring a Financial Advisor Atlanta
With managing finance of the wealthy comes great responsibility. This job warrants exceptional knowledge, research, and analytical skills. To make sure you hire a competent, reliable, and qualified financial advisor, you need to keep the following factors in mind before hiring one.
First and foremost, ask about a prospective financial advisor’s qualification. See which certifications and licenses they have. Since financial planning is a vast subject area, it is always best to find out if an expert has the right competencies and experience based on your unique financial situation.
Some of the highly regarded certifications include:
- Chartered Life Underwriter (CLU)
- Chartered Financial Consultant (ChFC)
- Certified Financial Planner (CFP)
If a financial advisor has any of these certifications, you can expect them to abide by the curriculum’s code of ethics.
2. Track Record
A significant experience of managing wealth for affluent individuals is what you should ideally be looking for when evaluating a financial advisor’s portfolio.While on it, you must also assess their level of expertise andcapability in dealing with different clients.
You should consider asking the following questions:
- How extensive is their experience in the financial planning field?
- Do they have prior experience of solving a particular problem you’re facing or improving financial situations of high net worth and ultra high net worth individuals?
A thorough evaluation will help you choose the right financial advisor Atlanta who can manage and plan your finances perfectly and ensure that you are on the right track to achieving your financial goals.
The fee charged by each financial advisor varies based on their level of expertise and experience. Their fee structures can be categorized into the following groups.
- A flat fee for a specific service
- Hourly rate
- Fee-based (charging a particular percentage for an asset under management)
4. Standard of Care
Financial advisors tend to follow two different types of standard of care when dealing with clients: the suitability standard and the fiduciary standard.
As per the suitability standard, a financial advisor canconvince their clients to buy certain financial products or sell these products to them based on their needs.Please note that this advice may be suitable for the clients but not necessarily in their best interest.Financial advisors are not obligated to put their clients’interests first.
On the other hand, the fiduciary standard is followed by financial advisorsregistered withthe Registered Investment Advisory (RIA) firms.It is the legal responsibility of these fiduciaries to prioritize their clients’ interest at any point.
5. Working Relationship
You must get to know a financial advisor before you trust them with wealth management. The advice and recommendations they give can transform your life.If you can’t talk to them with ease and comfort, they may not be the right expert for you. You should be able to establish a positive and healthy working relationship with your financial planner.They should listen to you and offer guidance without getting biased. The best way to go about this is by trusting your instincts.
Who Are the Best Financial Advisors in Atlanta?
Atlanta is a great city to build wealth in. But you need to work with a financial advisor Atlanta to be able to grow your wealth over time. This might make you wonder, “Who are the best financial advisors in Atlanta?”
Well, there are various characteristics all good financial advisors have in common.
1. They Are Committed to Helping Clients
The best financial advisors have a mission to help their clients achieve their short and long-term goals.They always do what’s right for you instead of prioritizing their own interests.
At Pillar Wealth Management, we take pride in providing our clients with carefully curated plans customized according to their unique financial situation, challenges, and needs. Our financial advisors work with high net worth and ultra high net worth individuals like you who have $5 to $500 million in liquid assets. If you need a financial advisor Atlanta to help you manage your wealth and optimize your portfolio without taking unnecessary risks, you should book a consultation session with us TODAY!
2. They Know Smart Asset Management Tricks
As an affluent individual, you’ll likely need advice on investing your assets smartly to diversify your portfolio. Knowledgeable and experienced financial advisors suggest investing in bonds, stocks, and cash. The diversity helps you control your financial risk.
Make sure your financial advisor understands how important portfolio diversity is and helps you with healthy, low-risk asset allocation. For more information on and valuable insights into smart asset allocation for ultra high net worth individuals, read our book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
3. They Focus on Tax Minimization
The best financial advisors keep a close eye on your taxes because they know high taxes can come in the way of growing your wealth.They help you switch focus from short-term capital gains to long-term profits by suggesting you hold on to securities for a considerable period. This is an excellent way to reduce your taxes.
Additionally, smart financial advisors generally advise affluent individuals to invest in tax-free bonds. Lastly, if you plan to invest in a commercial property, they may tell you about the 1031 exchange to avoid paying high taxes.
Finding a qualified financial advisor dedicated to minimizing your taxes may seem like an overwhelming task. This is why we have prepared the ultimate guide on finding the right financial advisor for high net worth and ultra high net worth individuals like you.
4. They Are Good at Analyzing Different Financial Situations
Experienced financial advisors know that each client has a unique financial situation. The needs, problems, and goals of two clients can never be the same. Hence, they don’t believe in one-size-fits-all solutions. Instead, they take the time to analyze your financial situation and discuss your needs and goals. Based on the information gathered, they come up with personalized advice and solutions.
If you’re looking for a financial advisor for high net worth individuals, please feel free to get in touch with our team at Pillar Wealth Management.
5. They Know Howto Balance Your Risks
You must know that you can never really eliminate financial risks from the equation, especially when you have over $5 million in investable wealth. A qualified financial advisor Atlantawill help you minimize your risks while ensuring maximum returns.
This is where Pillar Wealth Management comes in. Our financial advisors believe that improving portfolio performance doesn’t mean you should expose your wealth to unnecessary risks. With smart wealth management techniques and the right investments, you canenjoy high returns with low risks. Our experts have years of experience helping ultra high net worth individuals optimize their portfolio with minimum risk exposure.You can read about our top portfolio planning techniques in our exclusive guide here. It contains valuable information on how high net worth individuals can improve their portfolio performance with minimum risk exposure.
Wrapping It Up
Now that we have told you what you should know before you hire a financial advisor,prepare yourself to work with an expert to start managing your wealth like a pro.You can trust us when we say that you will find some of the best financial advisors for high net worth individuals at Pillar Wealth Management. With our advice and guidance, you will be able to preserve and grow your wealth while minimizing your taxes and risks. Click here to start chatting with us!
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