Financial Wealth Management Company for the Rich –PillarWM
Managing wealth can be a challenging task for just about anybody—however, it’s far trickier for high net worth and ultra-high net worth individuals and families. Fortunately, you can avail the services of a competent and experienced financial wealth management firm to make this task simpler. In fact, if you have liquid investable assets between $5 million and $500 million, you should definitely consider Pillar Wealth Management for exclusive wealth management services. In our detailed guide for investors worth $5 million or more, we discuss some of the strategies we use to secure and grow our client’s wealth.
STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION
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.
Table of Contents
What Is Financial Wealth Management?
If you have never used wealth management services before, you might be thinking about what a financial wealth management firm is. In short, these are financial institutions that offer a range of professional services related to wealth and investment management. Some of the services these institutions offer include:
• Asset Allocation Analysis
• Investment Management
• Risk Management
• Tax Planning
• Tax Management
• Retirement Income Planning
• Estate Planning
The primary goal of financial wealth management firms is to help you achieve your long and short-term financial goals. Click here to speak to our wealth managers and find out the services we offer that can help you meet your financial targets.
Do I Need to Use Financial Wealth Management Firms?
Several high net worth and ultra-high net worth investors feel unsure when it comes to hiring a financial wealth management company. One of the many concerns they have regarding such firms is, do I need financial wealth management firms? They feel that using and paying such institutions is pointless because all the information they need to make sound financial and investment decisions is available on the Internet.
If you are also stuck in the same dilemma, you should ask yourself the following questions to determine if you have to work with a financial wealth management firm.
• Do you have in-depth information regarding the numerous investment options available in the market?
• Do you like to read about wealth management and financial topics and research particular assets?
• Do you have command of financial vehicles?
• Do you have enough time to monitor, evaluate, and make regular modifications to your investment portfolio?
If you said yes to the above-mentioned questions, you might not need to use a financial wealth management firm. However, even if your answer was yes, you can still be at risk of making irrational or fear-based mistakes when it comes to handling your finances.
In fact, here are some situations where you actually need to work with a top-rated financial wealth management firm.
1. You Want Help with Financial Planning
Help in financial planning is one of the main benefits of financial wealth management. It outlines a plan for all your financial efforts and activities and helps you ensure that you stay on track to attaining your targets.
To assist you in financial planning, your financial advisor will devote several hours to thoroughly comprehend all your financial objectives, life goals, personal situation, etc. After getting the necessary information, these professionals will use their knowledge and skills to create a financial strategy that’s aligned with all such factors.
In addition, when they have finalized and implemented the financial strategy, they will also take up the responsibility of continuously monitoring your financial performance and modify the plan if there are any changes in the market conditions, shifts in your goals, or fluctuations in your financial circumstances. Read our ultimate guide to find out what your financial advisor should do when your life circumstances change.
2. You Wish to Lower Your Tax Bills
Taxes are one of the major expenses that you have to bear as a rich investor. This is because every financial activity you take up, whether it is transferring assets or moving investments, have some tax implication. Consequently, these taxes can add up to cost you thousands of dollars every single year!
While taxes are certainly not something that can be totally avoided, you can surely take steps to minimize them as much as possible. This another reason why you should opt for financial wealth management – it helps you lower the payments you have to make to Uncle Sam.
At Pillar Wealth Management, our wealth managers factor in the tax liability of every financial activity and then take necessary steps to effectively lower it. For instance, we can change your investment portfolio or suggest you move to other states with significantly lower tax rates. In this guide, we highlight the ways in which our team can help you cut back on taxes and numerous other expenses.
3. You Feel Your Wealth Isn’t Properly Secured
Being a high net worth or ultra-high net worth individual, you must be aware of the effort, time, and resources it takes to build such a massive wealth empire. Hence, you will undoubtedly want to take all possible steps to make sure that the wealth you have generated stays secure and safe. There are plenty of scared stories of affluent individuals and families who unexpectedly lost all their wealth because of some unforeseen market shift or because they developed a serious illness that they had never imagined.
This is where you need the risk management services provided by financial wealth management firms. These experts will ensure that you have suitable asset allocation and investment diversification strategies to secure your wealth from market volatility. Moreover, they will even help you purchase the most appropriate insurance policy to keep you financially stable if something happens to your health. For further details on risk management and its benefits, order a copy of our free hardcover book, The Art of Protecting Ultra-High-Net-Worth Portfolios and Estates – Strategies for Families, Worth $25 million to $500 million.
4. You Dream of Spending a Worry-Free Retirement
What is the first thing that comes to your mind when you think of your financial future? The ideal answer to this is question is your retirement. Generally, people retire somewhere in their mid-60s, which implies they have nearly 20 to 25 years more to live without any active income source.
Spending a financially sound and secure retirement is every person’s wish. However, the actual test lies in translating that wish into a reality. Unfortunately, this test is even more burdensome for high net worth or ultra-high net worth individuals who have complex retirement goals, such as establishing a charity fund, investing in real estate, etc., which mandates comprehensive strategizing.
Along with that, retirement planning takes up a lot of time, and it’s not a task you can undertake when you only have a year left to retire. In reality, this process requires several years of meticulous planning. Financial wealth management focuses on providing careful wealth management suggestions to make sure you have sufficient wealth to sustain your existing standard of living even after retirement. The best financial advisors will guarantee that you have an asset allocation plan and investment plan that helps you meet your overarching financial targets.
At Pillar Wealth Management, our team can develop a viable and achievable plan to help you spend a comfortable and stress-free retirement. We have even written a guide discussing the five paradigm shifts you need to take to improve investment performance that will, in turn, allow you to live the retirement of your dreams.
How Much Money Do You Need to Hire Financial Wealth Management?
Working with the top financial wealth management firm comes at a price. If you want to work with a financial wealth management company, you need to start by looking at your liquid net worth. To find the answer to the question, “how much money do you need to hire financial wealth management?” you can make a list of the benefits and drawbacks of using financial wealth management.
As discussed earlier, financial wealth management firms can help you in several different ways. If you need guidance on tax management, you don’t really have to account for the value of assets and wealth you have. However, if you want comprehensive wealth management, you need to weigh out the pros and cons effectively.
Generally speaking, most major financial wealth management firms cater to families and individuals with liquid assets ranging from $1 million to $5 million. Hence, if your assets lie in this bracket, we strongly recommend you start working with a financial wealth management firm.
At Pillar Wealth Management, we solely work with clients who have liquid wealth between $5 million to $500 million. So, if your wealth lying anywhere in this range, don’t forget to schedule a free meeting with one of our team members to start your financial wealth management process.
Is It Worth Paying for Financial Wealth Management?
Financial wealth management generally costs you around 1 percent of your assets under management. Hence, if you have $5 million worth of assets under management, you will have to pay $50,000, which is no small sum. The question that naturally arises then is it worth paying for financial wealth management?If you want to get the answer to this question, continue reading below to discover some additional benefits of financial wealth management.
1. Expert Guidance
Financial wealth management firms offer much more than just expertise and experience. For instance, you can avail investment services from private banks, too, but they aren’t always experts in that area. Their specialty lies in offering banking services. In the same way, if you need wealth management services, you need to work with the best financial wealth management companies as they are experts in such areas.
Most importantly, they don’t just have expertise in such services but also in their client base. They are highly knowledgeable at managing the unique problems faced by wealthy families and individuals. This allows them to offer much more constructive solutions that are centered on your particular needs. Read our handy guide here and learn how you can pick the best financial advisor to offer you expert guidance.
2. Fiduciary Services
One of the biggest reasons why it’s worth paying financial wealth management is because of the fiduciary services they offer. This is a significant factor for wealthy individuals because giving someone the power to make decisions regarding their wealth requires a lot of trust.
This trust can only come if you have fiduciary wealth managers and financial advisors working with you. They are required by law always to prioritize your interests instead of their own. When they recommend something, they need to inform you about all its drawbacks and benefits so that you can make much better and informed financial decisions.
3. Comprehensive Wealth Management
Another fantastic advantage of financial wealth management companies is that they provide comprehensive and holistic wealth management services. This means they don’t just focus on aggressive portfolio and investment strategies to grow your assets. Instead, they take a much broader approach where they increase your assets while also minimizing your costs, securing wealth, meeting long and short-term goals, and much more.
4. Customized Financial Strategies
Financial wealth management firms offer customized financial plans, which are essential for the financial success of high net worth and ultra-high net worth individuals.
If you opt for major financial firms such as investment houses or banks, you will only get standardized investment plans that may or may not be aligned with your financial objectives. Contrarily, financial advisors and wealth managers, such as those at Pillar Wealth Management, will put in several hours with you to properly know what you want in life. This could either be a particular financial goal or some other more personal life goal. Then, depending on that, they will create tailored financial solutions that help you accomplish all your objectives. Schedule a free meeting with one of our financial experts and get started with your customized financial strategies today!
Sign Up with Pillar Wealth Management
At Pillar Wealth Management, we have been providing exclusive financial wealth management services to affluent individuals for more than 50 years. Our financial experts are highly experienced and skilled in offering a wide range of services. As a result, we can help our clients in meeting all their goals while attaining financial serenity. Sign up for a no-obligation chat with Pillar Wealth Management today.
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