Best Financial Advisor Firms

Thinking of having partners that you can trust to manage your investments? A person you trust and can provide a private approach in order to come up with planning and services that suits your needs? You need a financial advisor who is from the best advisor firm, so you know that he is dedicated to their clients. The best financial advisor that you seek is the one that can understand your financial planning the most. In addition, financial advisors are those who help wealthy individuals protect and grow their wealth. The advisors’ firm helps clients achieve their financial needs and their future lifestyle securities.

In order for financial advisors to help you achieve all the things that matter the most to you, the advisors need to figure out how to help you by providing the best planning or strategy, so you can have financial satisfaction in the future.

For that to happen, you need to clearly communicate your thoughts to the financial advisors. This type of private yet interactive communication is significant for your financial planning. Due to the fact of the uniqueness of every ultra-wealthy individual’s financial situation, financial advisors should be able to build a customer investment strategy because of these differences, so that you and your business partners are able to see the same goals. Ultimately, you need a clearer idea of why you want to build securities for your asset from top financial advisors. If you are a high net worth individual with at least $10 million in liquid assets, click here to read our exclusive guide on how to find a financial advisor.

Pillar Wealth Management provides comprehensive wealth management services for high net worth and ultra-high net worth investors with $5 million to $500 million in liquid assets. Click here to arrange a free consultation session with us.

Here at PillarWM.com, we work with individuals with investible assets in the range of $5 million to $500 million. We know that each person’s goals are unique and that is why we get to know our clients in-depth before offering any financial strategy.

In this article, we will help you in choosing a financial advisor or wealth management firm that suits you, a list of financial services that a good financial advisor or wealth management firm provides, and the ranking of investment management firms back in 2019 to 2020. After all of that, we will show you why PillarWM.com advisors can help you.

List of Financial Services Offered by the Best Financial Advisory Firms

This list shows you what type of financial service that financial advisory firms provide to their clients:

Wealth Management

Wealth management includes financial services that help clients to manage their money or wealth efficiently based on the recommended advisor’s planning. The plan can be included in investing in estate planning, financial planning, retirement planning, philanthropy, etc. And when the time is coming, the clients receive a return from the investment.

Banking

This banking service has several main objectives. Some of them are managing a savings account and also checking personal deposits. When the money is deposited, at least 10% of it must be available, as the Federal Deposit Insurance Corporation (FDIC) dictated and included in their requirement while the remains can be used for loans. The interest will also be given to the personal account whose money has been deposited in the bank.

Insurance

This financial service is mostly used by customers. They are investing their money for the sake of safety in the future because large expenditures may happen unforeseen. You need to make an account in an insurance service that you trust and pay monthly or annual fees. This insurance can cover life insurance, health, retirement plan insurance, education, and many more.

Advisory

This financial service helps personal or a group of people (such as in a company) in decision making, especially in making financial decisions. Financial advisors assist to guide you on how to choose the right retirement planning, the valuable stock portfolio, tax payment, capital investment, or others.

Mutual Funds

Mutual funds help you to invest your money in the stock market even if you have a small amount of capital, by collecting a group of people. These investments are managed by professionals, so the group of people does not need to choose which portfolio has the most profitable one. The investments are various which has less risk for those group of people who are still new in this business because they do not need their own portfolio.

These are some samples of common services offered by a financial advisory company to its clients. The best investment management firms and advisors should provide a private service in handling investment planning. Every single decision can have far-reaching impacts. And when you are talking millions of dollars, the stakes are that much higher.

By the time you hit 45 or 50, not only do you have an investment account but also an IRA account, Roth IRA, 401k, life insurance, savings account, and much more. By that time, you probably have a family, and you have to think about financial planning, child education, succession planning (if you own a business), and retirement planning.

You may also own assets like real estate and stocks. You have multiple sources of personal income and tax planning becomes very important and you can use the wealth management services or asset management.

There are many moving parts in your financial life as you progress along in the journey of life. You need advisors to guide you through all the important decisions that you currently face or may face in the near future.

That is where a financial advisor firm comes in. If you are interested to know more about the attributes of top financial advisor firms, then download this guide on choosing financial advisors for investors with $5 million to $500 million in liquid assets.

So, our customers know that they need to work with the best financial advisors, but how do you search for the right advisor for you? Searching for the right advisor involves conducting some preliminary research from the comfort of your home. You can start by searching for reputed financial advisors in your area.

If you between $5 million and $500 million in the liquid asset, then you are invited to start a discussion with Hutch Ashoo at Pillar Wealth Management to explore what they can offer you.

One more way to search for a top-notch financial advisors firm is to speak in private with your family, friends, and work colleagues. Chances are that they may also be wealthy and working with a financial advisor who specializes in handling issues that wealthy individuals face. The reviews that they will give you cannot be altered or tampered with. It will be genuine and honest opinions.

 

Best Financial Advisor Firms

Top Financial Services Companies from 2019 to 2020 based on J.D. Power Ranking

In 2020, besides the global pandemic, everything is impacted including the economic market, not to mention financial services. As some financial companies and bank may face their luck in 2019, at the time of the year 2020 they should struggle more. JD Power, a customer reviewer analyst which has more than 50 years in their experience, makes a list of several categories ranking that affects the financial service companies from 2019 to 2020. Those 2019 to 2020 ranking were conducted to review the financial services companies work for the clients from 2019 to 2020. Here is the list made by J.D. Power:

U.S. Full-Services Investor Satisfaction Ranking List

Based on 4,629 investor reviews, the data shows that Edward Jones gained a score of 853 on 1,000 points in 2019. The second-ranking was placed by RBC with a score of 848 on 1,000 points in 2019. Morgan Stanley, gained a score of around 844 points scale in 2019 followed by Charles Schwab with 842 points score on the 1,000 point scale in 2019, and UBS with an 840 point score on the 1,000 point scale in 2019. However, Chevy Chase gets a score of 826 points and Merrill Lynch with 825 points which three are ranked under the industry average points that reach 835 points in 2019.

In 2020, RBC gets first place with the best score of 873 on the 1,000 points scale. Edward Jones gets third ranking with a score of 860 on the 1,000 point scale in 2020. Charles Schwab gets fourth ranking in 2020 with a score of 857 on 1,000 point scale followed by Wells Fargo Advisors in seventh place with a score of 852 on 1,000 point scale in 2020. The industry average rank in 2020 has a score of at least 850 points on 1,000 point scale. Chase gets 847 on the 1,000 point scale followed by Morgan Stanley with 846 on the 1,000 point scale. UBS decreased a lot from the previous year. In the year 2020, UBS only scored an 843 on the 1,000 point scale while Merrill Lynch has the same score as LPL, which is 840 on the 1,000 point scale.

U.S. Wealth Management App Satisfaction Ranking List

If we talk about the wealth management app in 2019, Charles Schwab gets first place based on a satisfaction study conducted by J.D. Power with 865 on the 1,000 point scale. Edward Jones placed third place with a score of 864 on the 1,000 point scale in 2019. Chase was placed in fourth place with a score of 859 on the 1,000 point scale in 2019. Morgan Stanley placed under the average industry score with 832 on a 1,000 point scale in 2019.

In 2020 the wealth management app has different results. Chase was placed in first place in 2020 with a score of 877 on the 1,000 point scale. The second place was placed by Wells Fargo bank gets a score of 869 on the 1,000 point scale. Charles Schwab placed fifth place with a score of 857 on the 1,000 point scale in 2020. Merrill Lynch gets a score of 852 on the 1,000 point scale in 2020 while UBS was not listed in this category.

U.S. Financial Advisor Satisfaction Ranking List

Based on the response from January through May 2019 with 3,571 respondents, Edward Jones gets first place with a score of 926 on the 1,000 point scale in 2019. The second place was placed by Raymond James & Associates with a score of 864 on the 1,000 point scale in 2019. While UBS placed on the sixth ranking with 701 on 1,000 point scale in 2019. Morgan Stanley wealth management gets a score of 682 on the 1,000 point scale and Merrill Lynch with 665 on a 1,000 point scale in 2019.

However, from January to April 2020, the reviews show that Edward Jones still gets first place with 920, followed by Raymond James & Associates with 867 points in 2020. Merril Lynch with 718 points in 2020, Morgan Stanley with 713 points in 2020, and UBS with 619 points in 2020 which under the segment average.

U.S Self Directed Investor Satisfaction Study List

The data was conducted from November 2018 to January 2019 and the results show that Fidelity gets first ranking with 807 points on the 1,000 point scale. Charles Schwab ranking #3 with 804 points, while Merril Edge placed in the last ranking with 761 points.

The next year, 2020, Fidelity decrease to ranking #4 with 800 points in 2020 this time, and the first ranking is taken by Vanguard with 820 points in 2020. Chase gets 772 points on the 1,000 point scale in 2020 and the last place was Merill Edge with 761 points in 2020. This study was held from the year 2018 to 2020 with 5,511 investors’ responses.

Wells Fargo & Co.

Founded by Henry Wells and William G. Fargo in 1852, this firm provides insurance, mortgage, banking provision, investment management, wealth management, and consumer and commercial finance. This bank owns assets under management (AUM) of $2 trillion and has been on many awards in 202o. For instance, Forbes awarded this bank as Best Employers for New Grads in the year 2020 and America’s Best Employers By State 2020. Ranking #17 on Global 2000 in 2020 and etc.

Morgan Stanley

Morgan Stanley Wealth Management (rights reserved) company was founded by Harold Stanley and Henry S. Morgan in 1935. This financial advisor firm provides services for investment management banking. Morgan Stanley (rights reserved) also works on several segments of the business. For instance, the investment management segment offers investment, fixed income, retirement planning, real estate, and equity. This firm owned assets under management (AUM) of $896.8 billion.

Merrill Lynch Wealth Management

This firm is a part of Bank of America (Private Bank). This wealth management firm offers its clients personal advice from one discussion to have comprehensive understandings of the clients’ financial needs like an investment, private equity, fixed income, asset management, and tax. The assets under management (AUM) owned by this firm are about $2.75 trillion.

However, like Pillar Wealth Management, the company only took on 17 clients last year so that it can focus all its energies ongoing in-depth with those clients. Feel free to start a conversation with us to know how we practice wealth advisory services in a unique way.

Ultimately, these capital financial advisor companies are the ones that earn the trust of the client. They are the ones that belief in the motto “money saved is money earned”. If you want to learn more about how the costs can eat into the actual returns of wealthy individuals, then check out this guide on improving portfolio performance for investors with $5 million to $500 million in investible assets.

Lastly, the top firms for wealthy individuals are the ones that have the experience of handling large deals. They have experience in not just wealth management, retirement planning, investments, and portfolio management, but also in taxation, philanthropy, succession planning, and other issues faced by wealthy individuals.

The Best Financial Advisor Companies Have 5 Things in Common

There are many financial advisor firms that cater to a variety of client profiles. Selecting the best company among them takes time. However, we give advice to many clients on how to do an initial screening. Have a look at the list of common things that good financial firms have:

Experience

The top advisors have years of experience with many investors. They have a track record of working with high and ultra high net worth individuals, investors account, or assets under management (AUM).

By spending most of their careers working with such accounts, they understand the kind of issues that wealthy individuals face. Investors can get more insights on high net worth financial planning by scheduling their free consultation with us.

Fee-structure

There are many different ways in which financial advisors in advisory firms charge for their services. All of these ways can broadly be grouped under two categories – fee-only and fee-based. A fee-only structure, as the name suggests, involves only a fee.

This fee is usually calculated on a milestone basis, hourly basis, or as a percentage of the total assets under management (AUM) by the advisors. If any extra services are sought, then the fees for them are separate, but this is the basic structure in the fee-only model.

The fee-based model involves fees and commissions on products “marketed” to the customers by their advisors. An example of the fee-based model is when a client invests in a certain mutual fund that the financial advisor recommends, then the advisors may get a commission or a kickback from the mutual fund company.

In this model, there is an incentive to push certain products and services as there may be a desire to earn more commission. You can read about the merits and demerits of both these methods in our book: The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million. Order a free hardcover copy today.

Fiduciary

A fiduciary is an investment advisor who is registered with either the SEC or your state’s regulator.

If a financial advisor is a fiduciary, then ethically, that is a very good sign. It is the duty of a fiduciary to always act in the interest of the client and to inform the client whenever there is a conflict of interest.

Cost management

Some advisory firms focus a bit too much on investment returns at the expense of investment costs. Frequent churning of portfolios can result in large short-term capital gains tax.

Investing in large-expense-ratio funds can also result in costs to the client. The top advisory firms divide their focus equally between earning large returns while minimizing investment costs.

Continuous monitoring

The top advisory firms put in a lot more effort.

They do not standardize their monitoring process but rather communicate it in a much more private manner to their clients. They also perform stress tests periodically to evaluate if the portfolio can handle unexpected events. The top firms are much more proactive.

To learn more about how important this can be, click here to read our guide on the 5 critical shifts that help improve portfolio performance.

What Makes Pillar Wealth Management a Good Financial Firm that can actually help you?

Now that you know the attributes of the best financial advisors firm and how to search for one, you may be interested to know how PillarWM’s financial advisor can help you. If you happen to have $10 million or more in liquid assets, then feel free to explore this guide on the 5 non-negotiables that form the basis of its financial advisory philosophy.

 

Best Financial Advisor Firms 2

White Glove Service

Pillar Wealth Management is a registered investment advisor firm with many financial planning services. It uses third party custodians for holding your investments. It means that we do not directly hold your money and the control remains with you. In addition, we provide white glove financial service to ensure that your investments managed by dedicated partners.

Fiduciary

Being fiduciary investment management as well, we provide double-layer protection as far as your wealth is concerned. We work with systems and check-in place. If you want to search out how you can get started in establishing a new system to achieve your financial needs, then get in touch for your free consultation with Hutch Ashoo.

Experience

PillarWM also has a combined experience of 60+ years in managing high net worth portfolios ranging from $5 million to $500 million. It creates new customized financial planning to help each one of its client’s desired lifestyle outcomes.

Well Constructed Planning

Our wealth management company uses 100 years of market data to simulate “what-if” scenarios and conduct stress tests on client portfolios on a regular basis. Ultimately, we take the emotions out of investing that cause the mood swing between greed and fear during market volatility.

Personal Approach

Pillar Wealth Management also gets to know each client personally. When you call us, we will know you by your name. It is the reason why we take up only a few clients because we establish a relationship with them. When our clients call us, there is always a human being to speak with, something that the large “well-known” firms cannot promise.

Trusted Firm

Pillar Wealth Management has Assets Under Management (AUM) of $131,387,186, Which shows how much our customers trust us in handling their portfolio.

Hutch Ashoo and Christopher Snyder are the expert founders of an independent, fee-only, and fiduciary investment management firm.

If you have already set your goals or ask any questions about how custom and trusted financial advice is offered to high net worth individuals with $5 million to $500 million in investible assets, then feel free to start a conversation.

Related Posts:

  1. 4 Ways To Search Fiduciary Advisors For High Net Worth Individuals – Fiduciary Advisors For High Net Worth Individuals…
  2. How to search a ultra high net worth wealth advisor – Wealth is the value of all the assets that a person owns…
  3. Are Wealth Manager Fees Worth it? – 5 answers To Clear Up – Are Investment Management Worth It…
  4. Best Financial Advisor Near Me – Do you ever get concerned about managing your investments or achieving your financial goals…

Best Financial Advisor Firms

Thinking of having partners that you can trust to manage your investments? A person you trust and can provide a private approach in order to come up with planning and services that suits your needs? You need a financial advisor who is from the best advisor firm, so you know that he is dedicated to their clients. The best financial advisor that you seek is the one that can understand your financial planning the most. In addition, financial advisors are those who help wealthy individuals protect and grow their wealth. The advisors’ firm helps clients achieve their financial needs and their future lifestyle securities.

In order for financial advisors to help you achieve all the things that matter the most to you, the advisors need to figure out how to help you by providing the best planning or strategy, so you can have financial satisfaction in the future.

For that to happen, you need to clearly communicate your thoughts to the financial advisors. This type of private yet interactive communication is significant for your financial planning. Due to the fact of the uniqueness of every ultra-wealthy individual’s financial situation, financial advisors should be able to build a customer investment strategy because of these differences, so that you and your business partners are able to see the same goals. Ultimately, you need a clearer idea of why you want to build securities for your asset from top financial advisors. If you are a high net worth individual with at least $10 million in liquid assets, click here to read our exclusive guide on how to find a financial advisor.

Pillar Wealth Management provides comprehensive wealth management services for high net worth and ultra-high net worth investors with $5 million to $500 million in liquid assets. Click here to arrange a free consultation session with us.

Here at PillarWM.com, we work with individuals with investible assets in the range of $5 million to $500 million. We know that each person’s goals are unique and that is why we get to know our clients in-depth before offering any financial strategy.

In this article, we will help you in choosing a financial advisor or wealth management firm that suits you, a list of financial services that a good financial advisor or wealth management firm provides, and the ranking of investment management firms back in 2019 to 2020. After all of that, we will show you why PillarWM.com advisors can help you.

List of Financial Services Offered by the Best Financial Advisory Firms

This list shows you what type of financial service that financial advisory firms provide to their clients:

Wealth Management

Wealth management includes financial services that help clients to manage their money or wealth efficiently based on the recommended advisor’s planning. The plan can be included in investing in estate planning, financial planning, retirement planning, philanthropy, etc. And when the time is coming, the clients receive a return from the investment.

Banking

This banking service has several main objectives. Some of them are managing a savings account and also checking personal deposits. When the money is deposited, at least 10% of it must be available, as the Federal Deposit Insurance Corporation (FDIC) dictated and included in their requirement while the remains can be used for loans. The interest will also be given to the personal account whose money has been deposited in the bank.

Insurance

This financial service is mostly used by customers. They are investing their money for the sake of safety in the future because large expenditures may happen unforeseen. You need to make an account in an insurance service that you trust and pay monthly or annual fees. This insurance can cover life insurance, health, retirement plan insurance, education, and many more.

Advisory

This financial service helps personal or a group of people (such as in a company) in decision making, especially in making financial decisions. Financial advisors assist to guide you on how to choose the right retirement planning, the valuable stock portfolio, tax payment, capital investment, or others.

Mutual Funds

Mutual funds help you to invest your money in the stock market even if you have a small amount of capital, by collecting a group of people. These investments are managed by professionals, so the group of people does not need to choose which portfolio has the most profitable one. The investments are various which has less risk for those group of people who are still new in this business because they do not need their own portfolio.

These are some samples of common services offered by a financial advisory company to its clients. The best investment management firms and advisors should provide a private service in handling investment planning. Every single decision can have far-reaching impacts. And when you are talking millions of dollars, the stakes are that much higher.

By the time you hit 45 or 50, not only do you have an investment account but also an IRA account, Roth IRA, 401k, life insurance, savings account, and much more. By that time, you probably have a family, and you have to think about financial planning, child education, succession planning (if you own a business), and retirement planning.

You may also own assets like real estate and stocks. You have multiple sources of personal income and tax planning becomes very important and you can use the wealth management services or asset management.

There are many moving parts in your financial life as you progress along in the journey of life. You need advisors to guide you through all the important decisions that you currently face or may face in the near future.

That is where a financial advisor firm comes in. If you are interested to know more about the attributes of top financial advisor firms, then download this guide on choosing financial advisors for investors with $5 million to $500 million in liquid assets.

So, our customers know that they need to work with the best financial advisors, but how do you search for the right advisor for you? Searching for the right advisor involves conducting some preliminary research from the comfort of your home. You can start by searching for reputed financial advisors in your area.

If you between $5 million and $500 million in the liquid asset, then you are invited to start a discussion with Hutch Ashoo at Pillar Wealth Management to explore what they can offer you.

One more way to search for a top-notch financial advisors firm is to speak in private with your family, friends, and work colleagues. Chances are that they may also be wealthy and working with a financial advisor who specializes in handling issues that wealthy individuals face. The reviews that they will give you cannot be altered or tampered with. It will be genuine and honest opinions.

 

Best Financial Advisor Firms

Top Financial Services Companies from 2019 to 2020 based on J.D. Power Ranking

In 2020, besides the global pandemic, everything is impacted including the economic market, not to mention financial services. As some financial companies and bank may face their luck in 2019, at the time of the year 2020 they should struggle more. JD Power, a customer reviewer analyst which has more than 50 years in their experience, makes a list of several categories ranking that affects the financial service companies from 2019 to 2020. Those 2019 to 2020 ranking were conducted to review the financial services companies work for the clients from 2019 to 2020. Here is the list made by J.D. Power:

U.S. Full-Services Investor Satisfaction Ranking List

Based on 4,629 investor reviews, the data shows that Edward Jones gained a score of 853 on 1,000 points in 2019. The second-ranking was placed by RBC with a score of 848 on 1,000 points in 2019. Morgan Stanley, gained a score of around 844 points scale in 2019 followed by Charles Schwab with 842 points score on the 1,000 point scale in 2019, and UBS with an 840 point score on the 1,000 point scale in 2019. However, Chevy Chase gets a score of 826 points and Merrill Lynch with 825 points which three are ranked under the industry average points that reach 835 points in 2019.

In 2020, RBC gets first place with the best score of 873 on the 1,000 points scale. Edward Jones gets third ranking with a score of 860 on the 1,000 point scale in 2020. Charles Schwab gets fourth ranking in 2020 with a score of 857 on 1,000 point scale followed by Wells Fargo Advisors in seventh place with a score of 852 on 1,000 point scale in 2020. The industry average rank in 2020 has a score of at least 850 points on 1,000 point scale. Chase gets 847 on the 1,000 point scale followed by Morgan Stanley with 846 on the 1,000 point scale. UBS decreased a lot from the previous year. In the year 2020, UBS only scored an 843 on the 1,000 point scale while Merrill Lynch has the same score as LPL, which is 840 on the 1,000 point scale.

U.S. Wealth Management App Satisfaction Ranking List

If we talk about the wealth management app in 2019, Charles Schwab gets first place based on a satisfaction study conducted by J.D. Power with 865 on the 1,000 point scale. Edward Jones placed third place with a score of 864 on the 1,000 point scale in 2019. Chase was placed in fourth place with a score of 859 on the 1,000 point scale in 2019. Morgan Stanley placed under the average industry score with 832 on a 1,000 point scale in 2019.

In 2020 the wealth management app has different results. Chase was placed in first place in 2020 with a score of 877 on the 1,000 point scale. The second place was placed by Wells Fargo bank gets a score of 869 on the 1,000 point scale. Charles Schwab placed fifth place with a score of 857 on the 1,000 point scale in 2020. Merrill Lynch gets a score of 852 on the 1,000 point scale in 2020 while UBS was not listed in this category.

U.S. Financial Advisor Satisfaction Ranking List

Based on the response from January through May 2019 with 3,571 respondents, Edward Jones gets first place with a score of 926 on the 1,000 point scale in 2019. The second place was placed by Raymond James & Associates with a score of 864 on the 1,000 point scale in 2019. While UBS placed on the sixth ranking with 701 on 1,000 point scale in 2019. Morgan Stanley wealth management gets a score of 682 on the 1,000 point scale and Merrill Lynch with 665 on a 1,000 point scale in 2019.

However, from January to April 2020, the reviews show that Edward Jones still gets first place with 920, followed by Raymond James & Associates with 867 points in 2020. Merril Lynch with 718 points in 2020, Morgan Stanley with 713 points in 2020, and UBS with 619 points in 2020 which under the segment average.

U.S Self Directed Investor Satisfaction Study List

The data was conducted from November 2018 to January 2019 and the results show that Fidelity gets first ranking with 807 points on the 1,000 point scale. Charles Schwab ranking #3 with 804 points, while Merril Edge placed in the last ranking with 761 points.

The next year, 2020, Fidelity decrease to ranking #4 with 800 points in 2020 this time, and the first ranking is taken by Vanguard with 820 points in 2020. Chase gets 772 points on the 1,000 point scale in 2020 and the last place was Merill Edge with 761 points in 2020. This study was held from the year 2018 to 2020 with 5,511 investors’ responses.

Wells Fargo & Co.

Founded by Henry Wells and William G. Fargo in 1852, this firm provides insurance, mortgage, banking provision, investment management, wealth management, and consumer and commercial finance. This bank owns assets under management (AUM) of $2 trillion and has been on many awards in 202o. For instance, Forbes awarded this bank as Best Employers for New Grads in the year 2020 and America’s Best Employers By State 2020. Ranking #17 on Global 2000 in 2020 and etc.

Morgan Stanley

Morgan Stanley Wealth Management (rights reserved) company was founded by Harold Stanley and Henry S. Morgan in 1935. This financial advisor firm provides services for investment management banking. Morgan Stanley (rights reserved) also works on several segments of the business. For instance, the investment management segment offers investment, fixed income, retirement planning, real estate, and equity. This firm owned assets under management (AUM) of $896.8 billion.

Merrill Lynch Wealth Management

This firm is a part of Bank of America (Private Bank). This wealth management firm offers its clients personal advice from one discussion to have comprehensive understandings of the clients’ financial needs like an investment, private equity, fixed income, asset management, and tax. The assets under management (AUM) owned by this firm are about $2.75 trillion.

However, like Pillar Wealth Management, the company only took on 17 clients last year so that it can focus all its energies ongoing in-depth with those clients. Feel free to start a conversation with us to know how we practice wealth advisory services in a unique way.

Ultimately, these capital financial advisor companies are the ones that earn the trust of the client. They are the ones that belief in the motto “money saved is money earned”. If you want to learn more about how the costs can eat into the actual returns of wealthy individuals, then check out this guide on improving portfolio performance for investors with $5 million to $500 million in investible assets.

Lastly, the top firms for wealthy individuals are the ones that have the experience of handling large deals. They have experience in not just wealth management, retirement planning, investments, and portfolio management, but also in taxation, philanthropy, succession planning, and other issues faced by wealthy individuals.

The Best Financial Advisor Companies Have 5 Things in Common

There are many financial advisor firms that cater to a variety of client profiles. Selecting the best company among them takes time. However, we give advice to many clients on how to do an initial screening. Have a look at the list of common things that good financial firms have:

Experience

The top advisors have years of experience with many investors. They have a track record of working with high and ultra high net worth individuals, investors account, or assets under management (AUM).

By spending most of their careers working with such accounts, they understand the kind of issues that wealthy individuals face. Investors can get more insights on high net worth financial planning by scheduling their free consultation with us.

Fee-structure

There are many different ways in which financial advisors in advisory firms charge for their services. All of these ways can broadly be grouped under two categories – fee-only and fee-based. A fee-only structure, as the name suggests, involves only a fee.

This fee is usually calculated on a milestone basis, hourly basis, or as a percentage of the total assets under management (AUM) by the advisors. If any extra services are sought, then the fees for them are separate, but this is the basic structure in the fee-only model.

The fee-based model involves fees and commissions on products “marketed” to the customers by their advisors. An example of the fee-based model is when a client invests in a certain mutual fund that the financial advisor recommends, then the advisors may get a commission or a kickback from the mutual fund company.

In this model, there is an incentive to push certain products and services as there may be a desire to earn more commission. You can read about the merits and demerits of both these methods in our book: The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million. Order a free hardcover copy today.

Fiduciary

A fiduciary is an investment advisor who is registered with either the SEC or your state’s regulator.

If a financial advisor is a fiduciary, then ethically, that is a very good sign. It is the duty of a fiduciary to always act in the interest of the client and to inform the client whenever there is a conflict of interest.

Cost management

Some advisory firms focus a bit too much on investment returns at the expense of investment costs. Frequent churning of portfolios can result in large short-term capital gains tax.

Investing in large-expense-ratio funds can also result in costs to the client. The top advisory firms divide their focus equally between earning large returns while minimizing investment costs.

Continuous monitoring

The top advisory firms put in a lot more effort.

They do not standardize their monitoring process but rather communicate it in a much more private manner to their clients. They also perform stress tests periodically to evaluate if the portfolio can handle unexpected events. The top firms are much more proactive.

To learn more about how important this can be, click here to read our guide on the 5 critical shifts that help improve portfolio performance.

What Makes Pillar Wealth Management a Good Financial Firm that can actually help you?

Now that you know the attributes of the best financial advisors firm and how to search for one, you may be interested to know how PillarWM’s financial advisor can help you. If you happen to have $10 million or more in liquid assets, then feel free to explore this guide on the 5 non-negotiables that form the basis of its financial advisory philosophy.

 

Best Financial Advisor Firms 2

White Glove Service

Pillar Wealth Management is a registered investment advisor firm with many financial planning services. It uses third party custodians for holding your investments. It means that we do not directly hold your money and the control remains with you. In addition, we provide white glove financial service to ensure that your investments managed by dedicated partners.

Fiduciary

Being fiduciary investment management as well, we provide double-layer protection as far as your wealth is concerned. We work with systems and check-in place. If you want to search out how you can get started in establishing a new system to achieve your financial needs, then get in touch for your free consultation with Hutch Ashoo.

Experience

PillarWM also has a combined experience of 60+ years in managing high net worth portfolios ranging from $5 million to $500 million. It creates new customized financial planning to help each one of its client’s desired lifestyle outcomes.

Well Constructed Planning

Our wealth management company uses 100 years of market data to simulate “what-if” scenarios and conduct stress tests on client portfolios on a regular basis. Ultimately, we take the emotions out of investing that cause the mood swing between greed and fear during market volatility.

Personal Approach

Pillar Wealth Management also gets to know each client personally. When you call us, we will know you by your name. It is the reason why we take up only a few clients because we establish a relationship with them. When our clients call us, there is always a human being to speak with, something that the large “well-known” firms cannot promise.

Trusted Firm

Pillar Wealth Management has Assets Under Management (AUM) of $131,387,186, Which shows how much our customers trust us in handling their portfolio.

Hutch Ashoo and Christopher Snyder are the expert founders of an independent, fee-only, and fiduciary investment management firm.

If you have already set your goals or ask any questions about how custom and trusted financial advice is offered to high net worth individuals with $5 million to $500 million in investible assets, then feel free to start a conversation.

Related Posts:

  1. 4 Ways To Search Fiduciary Advisors For High Net Worth Individuals – Fiduciary Advisors For High Net Worth Individuals…
  2. How to search a ultra high net worth wealth advisor – Wealth is the value of all the assets that a person owns…
  3. Are Wealth Manager Fees Worth it? – 5 answers To Clear Up – Are Investment Management Worth It…
  4. Best Financial Advisor Near Me – Do you ever get concerned about managing your investments or achieving your financial goals…