Financial Advisor Cleveland and What Questions You Need to Ask Them

Choosing a high net worth financial advisor is one of the most important decisions you will ever make in life. Considering you have $5 million to $500 million in liquid assets and you probably won’t be switching between advisors, picking the right financial advisor Cleveland can be difficult. You need to be extra careful and do your research before choosing one. And if you can’t find out some things, you can ask them directly. Investors with $10 million or more in liquid assets can learn to choose the best financial advisors by reading our eye-opening guide on it.

Pillar Wealth Management provides exclusive wealth management services to high net worth individuals with $5 million to $500 million in liquid assets. We’ve been working in this industry for more than sixty years in total. Over our extensive experience, we’ve catered to many clients and developed many personalized financial solutions to help them meet their short and long-term financial goals. Schedule a no-obligation meeting with us to learn more about what we do.

In this blog, we’ll be going over some of the questions you need to ask a financial advisor Cleveland to choose the right one for yourself. Let’s begin.

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What are the Best Questions to Ask a Financial Advisor? Choosing the Best Financial Advisor Cleveland

What are the Best Questions to Ask a Financial Advisor?

If you’re lucky enough to find the best financial advisor for yourself, you won’t have to worry about your wealth and assets for the rest of your life. You can trust them to make the smartest decisions that will best serve your needs and get you closer to your targets in life.

However, it all depends on finding the right financial advisor. Click here to read our ultimate guide on finding the right financial advisor for families worth $5 million to $500 million.

You can do all the research you want, but sometimes, you will only find the answers you’re looking for if you ask the right questions directly. Here are some of the best questions you can ask a financial advisor Cleveland to determine if they’re the one for you.

How Long Have You Been Working as a High Net Worth Financial Advisor?

There are two things to note here. Firstly, by asking how long they’ve been working as a financial advisor, you will be able to gauge their overall experience. Their experience in the industry and as a financial advisor will show how skilled they are and how much knowledge they have. Only when they have extensive experience will they be able to know all the little tips and strategies that can be used to protect your assets or maximize your portfolio performance. Learn more about it from our detailed guide on improving portfolio performances.

Secondly, along with their experience as a financial advisor, you have to inquire about their experience as a high net worth financial advisor. As an affluent individual yourself, you have entirely different financial needs than the average person. That’s why you need a financial advisor that is well-acquainted with your specific needs. This will require you to make some mental shifts as well, and you can read about what they are from our guide on maximizing portfolio growth.

Are You Authorized to Provide the Services You’re Offering?

There are dozens of different kinds of financial advisors. There are financial planners, brokers, investment advisors, asset managers, wealth managers, and many more. Besides the difference in the services they offer, they also differ in what they are authorized to do.

In some cases, a financial advisor can only manage your assets and not really offer you any advice. Only when financial advisors are registered and regulated, they can offer you investment or other financial advice. This will answer your question, are financial advisors regulated?

Moreover, you shouldn’t stop there. Even within regulated financial advisors, they can be regulated under two standards of care. There are those who offer fiduciary services and those who offer suitable services. You should always go for a fiduciary financial advisor Cleveland as they put your interests before their own and work towards your best interests. Reach out to Pillar Wealth Management to consult fiduciary financial advisors.

When Should You Consult a Financial Advisor?

Ideally, high net worth or ultra-high net worth families should consult a financial advisor right away if they don’t have one already. Even if such affluent individuals have the expertise to manage and execute their own strategies, they might lack the time or resources to make more informed decisions. Contact our advisors to learn how we can help you with your wealth management.

Hiring a financial advisor can be quite beneficial for them as it can free up their time and they can get more experienced, personalized and fiduciary services. All of these factors help you attain financial serenity. Learn other ways to attain financial serenity from our book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies for Families Worth $25 million to $500 million.

Choosing the Best Financial Advisor Cleveland

Asking such questions will help you filter out the wrong advisors from the right ones and help you choose the best advisor for yourself. Find out more about such advisors by reading our exclusive guide on it for investors worth $10 million or more.

Pillar Wealth Management has some of the best and most experienced wealth managers and advisors. We offer many services, such as investment management, insurance planning, estate planning, tax management, and a lot more. We rely on extensive market data, research, in-depth knowledge, and our own experience to develop creative solutions for our clients. Schedule a consultation with our managers today.

Authors

Hutch Ashoo

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.