Financial Advisors in My Area:
The Complete Guide to What We Do
If you are an individual with a high net worth, you may require financial advice at some point. When that time comes, you may be wondering, “how can I find the best financial advisors in my area”? If you own between $5 million and $500 million in liquid investment assets, you should consider using the services of wealth managers from Pillar Wealth Management. Prospective clients with $10 million or more can learn about our asset management strategies using our special guide.
Strategies For Families Worth $25 Million To $500 Million
The Art of Protecting Ultra-High Net Worth Portfolios and Estates
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
Financial Advisor vs. Wealth Manager
There are many different types of financial advisors out there to choose from. However, each one may specialize in a different area. Some financial advisors cater to clients looking to create a retirement plan, while others may assist clients who are interested in meeting a particular financial goal.
A wealth manager is a special type of financial advisor who may be better suited for your needs. However, people unfamiliar with wealth management may not be aware of what a wealth manager does and why they can be better than ordinary financial advisors. Some key differences between the two are:
Types of Services
Ordinary financial advisors tend to stick to one particular type of service. For example, a financial planner may perform activities related to both short-term and long-term financial planning.
A wealth manager, on the other hand, offers a wider breadth of services. This includes financial planning, asset allocation analysis, investment management, estate planning, retirement planning, and wealth transfers.
At Pillar Wealth Management, our wealth management possesses in-depth knowledge related to each of these services. They can create comprehensive financial plans to help you meet your goals in various areas.
Ordinary financial advisors and wealth managers also differ in terms of their fee structure. You may be wondering, “how much does it cost to talk to a financial advisor?”. The answer may vary depending on the type of financial advisor you are seeking out and the firm they work for.
Financial advisors may charge their clients for each plan they request. Some also include an hourly fee or a charge each time their services are used. At Pillar Wealth Management, our wealth managers charge clients a straightforward annual fee. We believe transparency is the key to building a long and fruitful financial relationship. This is why we ensure our clients are well-aware of our fee structure and do not encounter any hidden charges.
By charging an annual fee, we encourage our clients to reach out to our wealth managers whenever they need assistance. Every single financial decision matters when it comes to protecting your wealth, so do not hesitate to ask for advice. Sign up for an exclusive free consultation with Pillar Wealth Management to learn more about the services we offer.
Client Net Worth
Financial advisors also differ in terms of the net worth of the clients they take on. Ordinary financial advisors may not be picky about who they provide their services to. This makes them accessible to all individuals, such as young graduates who are just starting their wealth-building journey or wealthy individuals that intend to retire soon and live off their savings.
Wealth managers are more careful about the clients they take on. Their services and financial knowledge are geared towards individuals with a high net worth or an ultra-high net worth. So they can be thought of as high net worth financial advisors. Wealthy investors have unique needs, as mentioned in our guide for investors with $10 million or more.
Wealth managers typically possess a better understanding of the financial goals that wealthy individuals pursue and have extensive experience helping them achieve these goals.
For this reason, investors with $5 million to $500 million in liquid investment assets are better off using the services of wealth managers from Pillar Wealth Management than ordinary financial advisors. We discuss some of the wealth management strategies high net worth and ultra-high net worth individuals should use in our book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
How to Find Financial Advisors in My Area
There are numerous financial advisors across the country. Therefore, it should be easy to find one to help you. However, choosing the right professional that fits your needs can be a bit more complicated.
If you aren’t familiar with the search process, you may be wondering what is the best way to find a financial advisor. Here are some easy ways to find the right financial advisor in your area.
One of the most efficient ways to look-up the financial advisors near you is by using the internet. A significant percentage of financial advisors maintain some form of online presence in the digital era. This includes websites for their advisory firms or profiles on sites such as Linked In.
You should be able to draw up a list of financial advisors using a simple search on Google or Bing. Be sure to narrow down your choices based on the specific type of services you are seeking. For example, if you are interested in retirement planning services, you can look up “Retirement Planner” followed by your city name.
If you are seeking financial advisory services related to multiple financial activities, you should look up wealth managers in your area. Be sure to check online reviews and ratings for each financial advisor or firm.
Customer testimonials are a great way to distinguish between financial advisors with a successful track record and those that have let their clients down in the past. Look for reviews from clients who have a financial background similar to yours or those that used the specific services you are seeking.
Use Your Network
Investors that have a high net worth or an ultra-high net worth typically maintain a large network consisting of other wealthy professionals. This could include other investors or professionals that engage in the same wealth-building activities as you do. Many of these individuals may have used financial advisors or wealth managers in the past, so it may be worth asking them for recommendations.
Visit Financial Advisors In-Person
You should thoroughly vet any financial advisor before using their services. This is especially crucial for wealthy individuals that want to safeguard their wealth and assets. Your choice of a financial advisor may impact your retirement plan or your investment approach, so you should ensure they possess in-depth knowledge of their services. Sign up for a free consultation to learn more about our wealth managers’ expertise.
The best way to determine if a financial advisor has a good grasp of the services they offer is by visiting them in person. You can differentiate between a knowledgeable financial advisor and a less-knowledgeable one by asking them the right questions. High net worth and ultra-high net worth investors should use our special guide to learn what questions to ask their financial advisor before using their services.
Are Financial Advisors Worth the Money?
You may be wondering, “are financial advisers worth the money?”. After all, there’s no point in seeking out an advisor if the benefits don’t exceed the costs. However, we can make a compelling case for why a financial advisor is definitely worth it.
People often seek out consultants and advisors when they need assistance with a matter they aren’t familiar with. This is true for high net worth individuals that wish to achieve certain financial goals but are unsure about the right steps to take.
Wealth managers are among the most knowledgeable financial advisors out there. They have expertise related to many different financial areas thanks to their educational background. However, a large portion of their wisdom can be attributed to their experience serving clients. This includes experience with advanced finance strategies, such as the ones outlined in our special guide for improving portfolio performance.
Managing your portfolio can be a tedious task. In addition to monitoring the performance of each investment, you may also need to keep an eye out for risks. All assets are susceptible to certain risks, but it is often the unforeseen ones that jeopardize your wealth.
You don’t have to look too far back into the past to witness events such as the 2008 financial crisis or even the current pandemic. These events decimated years of gains in many industries in just a few short months. A financial advisor such as Pillar Wealth Management’s wealth managers can help you with investment strategies that keep you safeguarded during sudden market events. Learn about some foolproof portfolio growth strategies in our special guide.
Getting On-Track With Your Goals
Everyone has financial goals that they wish to achieve by a certain point in their career or lifetime. However, you may be unfamiliar with the right steps to take to achieve these goals. You can look up different books on investing or retirement planning, but you will be on your own during the execution phase.
Hiring a wealth manager ensures that you have someone you can turn to during the creation and follow-through of your plan. They can inform you if your current plan is achievable and fine-tune it to make the execution process easier. Sign up for a free consultation to get a feel for our wealth managers’ level of involvement with financial plans.
Why Choose Pillar Wealth Management?
If you are an investor with $5 million to $500 million in liquid investment assets, you should choose Pillar Wealth Management to cover your financial advisory needs. Our clients entrust us with managing their wealth for numerous reasons. This includes:
Decades of Experience
At Pillar Wealth Management, our wealth managers possess 60+ years of experience offering services to high net worth clients. These investors trusted us to help safeguard their wealth and plan their eventual retirement. Over the years, we have aided clients in overcoming great obstacles and in attaining a level of wealth they only dreamt of achieving.
We strive to make our pricing as transparent as possible. Clients are charged with a simple and straightforward annual fee with no hidden costs. They can get in touch with our wealth managers and use their services as frequently as they need to without worrying about additional charges.
Our wealth managers have created financial plans for investors of different backgrounds. We can help you execute advanced investment strategies while making the process easy for you to follow along with.
We avoid using generic plans as they rarely take your individual needs and concerns into account. You can rest assured each of our plans will be tailored to fit your expectations. So get in touch with our wealth managers and start working towards your financial goals today.
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