Independent Financial Advisors: How They Help Affluent Individuals
Struggling to make decisions about what to do with your money? This is where independent financial advisors come in.If you possess more than $10 million, you may face complicated financial risks and investment challenges. An independent financial advisor uses their knowledge and expertise to devise a personalized plan based on your needs, goals, and lifestyle preferences. They will help you maximize your savings and manage your budget and taxes. Furthermore, they will stay in touch and check in on a regular basis to reassess your financial situation and long-term goals to adjust your plan. You can learn some insider tips for choosing the best advisor in our exclusive guide here.
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.
Pillar Wealth Management is a firm you can trust for financial advisory services. Our team of licensed, qualified,hardworking advisors is committed to assisting you with wealth management. We boast over three decades’ worth of experience working with wealthy individuals who have liquid assets worth $5 to $500 million. We will come up with a financial plan tailored to your investment objectives and financial goals.After assessing your risk tolerance, we will find ways to decrease your costs and increase profits. Book a consultation with us today.
Let’s discuss what you can expect when hiring an independent financial advisor.
Table of Contents
Table of Contents
What Do Independent Financial Advisors Do?
Financial advisors are qualified individuals responsible for helping you achieve your financial goals. They give financial advice and suggestions based on your unique requirements. Independent financial advisorsalso act as an educator, helping you understand the basics of various financial topics, including budgeting and saving.They will also assist you in navigating complex investment, tax, and insurance matters.
Furthermore, they are responsible for providing you with unbiased advice regarding a wide range of financial products.In simple words, they will help you accomplish your goals and make your plans a reality.
Is It Worth Having an Independent Financial Advisor?
The age-old question: Should you hire an independent financial advisor?
There’s no doubt that choosing to work with an expert or manage your own investments is a critical and perhaps life-changing decision.Many affluent individuals who would benefit from working with one don’t seek advice or think they don’t need it.
Let’s say, you decide to take the DIY route. For that, you must possess a certain level of knowledge, skills, and expertise to manage your investments and make well-informed financial decisions. You should also understand that it’s not a one-time thing. You’ll have to invest a lot of time in researching different financial questions, weigh your options, and execute a well-thought-out plan.
Even if you’re okay with spending so much of your time managing your finances, perhaps you shouldn’t if you have other more important things on your plate. Besides, personal finance isn’t exciting for everyone.
If you might be neglecting your finances even a little bit, you should consider seeking professional help.Otherwise, you’ll have to pay the cost of making poor financial decisions or delaying good ones. Instead of relying on Google for advice or just winging it, you must work with an expert who understands the nuances of high net worth wealth management. As an affluent individual, your financial life is complex. With the guidance of an independent financial advisor, you can proactively identify risks and opportunities and stay committed to achieving your long-term goals.
To learn more about the role of an independent financial advisor, get in touch with us today.
When Should You Opt for Independent Financial Advisor Services?
Below are the top reasons for working with independent financial advisors.
• You feel confused and lost in planning your financial future
• You’re not good at managing money and need professional advice
• You think that you can improve your financial plan with an unbiased opinion from a third-party
Let’s discuss each reason in detail.
• Need Help Planning Your Desired Financial Future
As a high net worth or ultra high net worth individual, you may have a long list of financial goals. On one hand, you want to live your life to the fullest, and on the other, you want to make sure you build your financial legacy.
For a financially secure future, you must make wise decisions today. And that’s exactly what an independent financial advisor is for. The best thing is that their fee may pay for itself in the next few years if they help you make better decisions.They will focus on enhancing your portfolio’s performance without exposing it to unnecessary risks in order to create a balance between profits and risks. Our guide will help you gain an in-depth understanding of high net worth portfolio optimization.
• You Don’t Like Dealing with Money
Some people don’t like or don’t have time for managing their money – and that’s okay. If you’re like that, it’s best to find someone to do it for you. With investable wealth worth over $5 million, you can easily find a financial advisor to make important decisions on your behalf.
That being said, you must shop around until you find an expert you can trust with your money. Their approach, mindset, and values must match yours.Before hiring a professional, don’t forget to inquire how they plan on managing your finances. Do they think you should take risks and go after short-term gains or prefer making safer choices to enjoy greater returns in the long run?
Remember, your desired financial legacy can only be built if you invest smartly and dodge risks as much as possible. Chasing portfolio performance will only increase your costs and compromise your financial security. This mindset shift will set you up for big successes in the future.To discover five additional shifts you should make as a wealthy individual, go through our helpful guide here.
• You Want a Third-Party Opinion
If you’re financially savvy, you may think, “Why would I pay someone to manage my money and reduce my returns?”
But here’s the thing: Even if you have extensive knowledge of investing and wealth management, you’ll always be susceptible to making errors. Your emotions may come in the way of making objective and rational decisions.
Working with independent financial advisors allows you to receive an unbiased, third-party opinion on crucial matters.An expert will help you look at the bigger picture. They won’t only help you avoid making bad decisions but also spot opportunities that you may have otherwise overlooked. They will be committed to protecting your assets and preserving your wealth to allow you to achieve all your short and long-term goals.
You can read about high net worth wealth protection in detail in our book,The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
Benefits of Working with Independent Financial Advisors
If you manage to get the right independent financial advisor on your team, you can expect to enjoy several benefits. Their suggestions and advice can be reassuring and it’ll definitely be a worthwhile investment.
Below are the top benefits of hiring independent financial advisors.
• Make Proactive Decisions
The best financial advisors dive deep into your financial statements to tell you what’s working in your favor and where you’re going wrong.After analyzing your current situation, they may also come up with new ideas and strategies to help you reach your goals. With a proactive approach, you can easily avoid unnecessary risks and maximize returns.
• Get Advice from an Expert
Independent financial advisors are specialized experts with years of experience managing wealth for clients like you.They are trained to deal with the personal finances of affluent individuals.You’ll be paying for their proven expertise in the field.
At Pillar Wealth Management, we have a group of fiduciary financial advisors dedicated to helping you make the best decisions.With us, you don’t have to worry about any conflicts of interest. We will create a personalized plan using strategies that align with your needs and objectives.
So, what are you waiting for?Schedule a free consultation now!
• Eliminate Stress from the Equation
As a high net worth individual, you must have your plate full. With responsibilities and aspirations come a lot of stress and frustration. An independent financial advisor can make your life easier by taking all the stress away from you.
The more money and assets you possess, the more complex your financial matters will be. A financial advisor will guide you on the right path, telling you what to do and what to avoid. No matter how complex your issues are, they will help you work through them so you can achieve better outcomes.
• Create a Dedicated Team to Help You Meet Your Goals
Many high net worth and ultra high net worth individuals work with an attorney, tax preparer, or CPA to make sure they make the right decisions and achieve their financial goals.If you have any of these professionals working for you, your financial advisor can work with them on your behalf. This will create a team that will work collaboratively to protect your best financial interests.
• Enjoy Higher Returns on Investment
You must view hiring an independent financial advisor as an investment.Choose someone who offers the specific financial services you’re looking for at reasonable rates.They should help you save more money and enjoy greater returns on investment. Over time, you can expect to preserve and grow your wealth.
It is best to consult with multiple independent financial advisors and see who can meet your needs best.For industry-best tips on choosing the right expert, read our guide here.
Get in Touch with Qualified and Experienced Independent Financial Advisors at Pillar Wealth Management
Working with a financial expert is a smart move when you have accumulated more than $5 million in liquid assets.It’s the best way to keep more of your money and maximize your savings. This will lay a strong groundwork for the financial future of your dreams. Choose a specialist who understands the complexities of high net worth investing and knows how to manage your risks and taxes.
Pillar Wealth Management is a reliable firm where you can find the right expert for your individual needs. During the first meeting, we will evaluate your financial situation, goals, and lifestyle preferences. Based on that, we will devise an action plan to help you build wealth and minimize your costs. Please note that our financial advisors only work with affluent clients. We will partner with you if you have $5 to $500 million in investable wealth. Our aim is to set the highest standards of financial advisory services. Our fee structure is 100%transparent to ensure there are no unpleasant surprises later.
Ready to hire independent financial advisor services?
This is your chance to optimize your portfolio performance and make the most of the available investment opportunities. Our specialists are excited to partner with you on your wealth management journey.Start a conversation today to learn more about our services. Thanks to the free, no-obligation consultation, you have nothing to lose!
- Retirement Planning Guides – Wealthy investors strive to protect their wealth throughout their lifetime. However, this…
- Philadelphia Financial Planner – Planning for the future can be challenging for just about anyone. However, the stakes…
- Investment Management Services – Investors with a liquid net worth of millions of dollars know how vital it is to make smart…
- Tax State Residency – Determining your tax state residency can help you avoid dual taxation, thereby protecting…