Best Financial Services Companies to Grow Wealth: PillarWM

You can even book a free meeting with the skilled wealth managers at Pillar Wealth Management. We are a private wealth management company that provides fee-only financial advisory and wealth management services to individuals and families who have $5 million to $500 million worth of investable assets. Our fundamental goal is to build a robust, professional relationship with our clientele and devise tailored financial strategies that best match their personal needs.

What Are Financial Services Companies?

A financial services company is a firm involved in the business of dealing with financial and monetary transactions such as currency exchange, investments, loans, and deposits. Financial services companies entail a vast range of business operations within the financial services sector, such as trust companies, investment dealers, brokerage firms, insurance organizations, private banks, wealth management companies, etc.

Do You Need Financial Services Companies?      

Many wealthy individuals and families feel confused when it comes to working with a financial services company. They hold the view that working with such companies is of no use because all the information they require to make the best financial decisions is present on YouTube and Google.

If you are also stuck in the same problem, ask yourself these questions to decide if you actually need to usea financial services company.

• Do I have comprehensive knowledge regarding the various investment opportunities present in the market?

• Do I like to learn about financial issues and research certain assets?

• Do I have a robust understanding of the various financial instruments?

• Do I have sufficient time needed to track, evaluate, and frequently rebalance my investment portfolio?

If you responded with a yes to the above questions, you might not need a financial services company. Nevertheless, despite answering yes, you might still be at risk of making unreasonable or fear-driven mistakes when it comes to handling your financial circumstances.

In fact, here is a list of situations when it becomes vital for you to work with the best financial services companies to manage your finances.

1. You Don’t Know How to Invest Your Wealth Optimally

Investors tend to invest their wealth in stocks and bonds. This isn’t due to any specific reason, but primarily because they aren’t aware of any other lucrative investment avenues.

If your wealth is also limited to these investments, you need to use a financial services company to inform you regarding other investment opportunities you can avail to grow your wealth. For instance, collectibles (artworks, gold, vintage cars, etc.), private equity, and real estate are all investments that generate incredible returns.

Having a financial services firm to guide you will ensure you make the best investment decisions that will allow you to achieve the highest possible performance. Based on your willingness to take risks, time horizons, personal conditions, and financial goals, our team will curate strategies to make sure you attain the desired results.

Therefore, if you don’t have the resources, time, and skills to keep yourself abreast with the dynamic market trends, you need to start working with a financial services company. In our special guide, Improving Portfolio Performance, we discuss the strategies we use to help you achieve an excellent investment performance.

2. You Want to Keep Your Wealth Safe from Internal and External Threats

Amassing millions of dollars is a task that demands resources, effort, and time. Having invested so much energy into it, you will definitely want to make sure that the wealth empire you have created stays secure and safe. There are many stories of wealthy individuals who suddenly lost a significant amount of wealth because of some abrupt market shift or because they contracted a life-threatening illness they had never thought of.

This is why you need to use a financial services company and avail their risk management services. The experts at such a company will ascertain that your assets are properly diversified and allocated to protect your wealth from market unpredictability. Moreover, they will also assist you in signing up for the most suitable insurance policy to keep you and your loved ones financially stable if your health deteriorates. If you want to learn more about the importance of risk management, order a free copy of our in-depth book, The Art of Protecting Ultra-High-Net-Worth Portfolios and Estates – Strategies for Families, Worth $25 million to $500 million.

3. You Want to Save on Taxes

Taxes are perhaps the biggest and only disadvantage of getting positive investment returns. Taxes and investment returns go hand in hand. Thus, there’s really no way you can avoid paying them. Nevertheless, there are numerous strategies you can use to effectively reduce the amount of taxes you are liable to pay.

Financial services firms also specialize in providing tax management advice which plays a significant role in maintaining and preserving your wealth. Our team will review your current financial situation to develop the most tax-efficient strategy that will allow you to attain your financial goals. For instance, we can update you regarding the numerous tax incentives offered by the government on particular asset categories to reduce your tax burden.

A professional, reliable, and competent financial services company will assist you in planning for tax efficiency at every step of your financial life. They can recommend intelligent strategies to save on taxes now and in the future. For instance, our team at Pillar Wealth Management can recommend you make a shrewd shift in your investment ideology. In our handy guide here, we discuss the other paradigm shifts you can make to optimize your investment portfolio.

At What Point Should You Get A Financial Services Company?

If you are a high net worth or an ultra-high net worth individual or family with $5 million to $500 million worth of liquid assets, you need to start working with the best financial services company immediately. Individuals with less than $1 million can also reap several benefits of working with a financial services company, boosting their net worth much quicker.

However, for affluent families and individuals specifically, they could be endangering their wealth each day that they try to manage it themselves. So, if you are such a wealthy individual, you should speak to a financial services company without further delay. Click here to book a meeting with our financial advisors at Pillar Wealth Management and see how we can help you become financially stable.

Is It Worth Working with A Financial Services Company?

Working with a financial services company costs you approximately 1 percent of your total assets under management. Hence, if your assets under management are worth $5 million, you will have to pay $50,000, which is no meager sum. This might lead you to think, is it actually worth working with a financial services company?

Well, the answer to this question is yes!These organizations can help you in the ways discussed above and enhance your financial situation. Check out the additional benefits of working with a financial services company.

1. Expertise and Experience

One major reason why you should work with a financial services company is that they have a high level of experience and expertise. As a wealthy individual, you probably only have experience handling your own finances and a fixed number of assets within a specific time frame and stable market conditions.

However, financial services companies work with various clients, all with varying financial situations, with unique goals and different portfolios. They have seen a number of market trends and know how to facilitate clients through them.

While you might be engaging in several other tasks, financial services companies solely focus on providing financial, investment, and wealth management services to their clients. This gives them much more expertise and knowledge in the field.

2. Range of Financial Services

Depending on the kind of financial services company you pick, you will be able to get a number of different financial services. For example, if you opt for an investment firm, you can get services such as stock selection, portfolio diversification, asset allocation, etc. On the other hand, wealth management firms will provide a comprehensive range of services, entailing portfolio management, cash flow management, balance sheet optimization, etc. Click here to speak to our team and learn about the complete range of financial services we offer.

3. Dedicated Financial Advisor

Instead of handling everything on your own and depending on Google for answers to complex financial questions, working with the best financial services company gets you a dedicated financial advisor.

Such an advisor will be overseeing your complete investment portfolio, and they will be fully aware of whatever is happening in your portfolio. If you have any queries related to your investment portfolio or want to modify your portfolio because of a change in your life situation, you can get in touch with your advisor and resolve your concerns right away.

Traits of the Best Financial Services Companies.

In order to recognize the best financial services companies, you need to know the qualities that set them apart.

Here is a list of the distinctive traits of a financial services company.

1. Experience

When handling wealth and finances, experience is paramount. Experienced professionals at financial services companies have experienced and learned from amateur mistakes. They won’t take any reckless decisions regarding your investment or attempt something extremely rash.

2. Customized Financial Plans

Another defining feature of the best financial services companies is that they offer tailored financial strategies. Some major private banks and financial firms use a cookie-cutter approach and recommend a similar financial plan to all their clients.

However, such strategies that have no connection whatsoever with your financial and personal goals are pretty pointless. They are based on inconsequential elements such as your risk tolerance, your desired investment growth, etc.

This is why financial services companies take some time to first learn about your goals and requirements in life. For them, your financial strategy is a means to end.

Depending on your requirements, financial services can then create tailored financial plans that best cater to your long and short-term financial objectives.

3. Fiduciary Services

The best financial service company provides fiduciary financial services. These firms abide by a strict standard of care where they have to place your best interests above their own.

Even if a particular financial decision is risky for them but is beneficial for you, they have to consider it. Moreover, they cannot have any conflicts of interest, and even if they do, they have to reveal it straight away.

Last Few Words

Wealth management and financial planning for high net worth individuals and families is imperative to retaining their financial status and living standard. With numerous high-value assets in multiple investment instruments, it can become tricky to track your wealth and investment performance. Getting advice from professionals allows you to see the larger picture so that you can make the best decisions to move towards your goals.

Financial advisors at Pillar Wealth Management have provided financial recommendations to individuals and families with $5 million to $500 million for over three decades. We have the experience, knowledge, and skill-set you need! Schedule a consultation with our team today to start your journey to financial serenity.

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