The Complete Guide to What We Do
For ultra-high net worth individuals, wealth management isn’t as simple as putting half of their wealth in savings and the other half in investments, waiting for their assets to grow. Rather, it requires a comprehensive financial plan, the right investment strategies, smart asset allocation, tax optimization, and a lot more. Furthermore, all this is only possible when they have the right professional help in the form of a financial advisor Kansas City. Such financial advisors have the knowledge and experience necessary to help affluent individuals meet their financial goals. If you are an investor worth $10 million or more and want to grow your wealth with the help of the right financial advisor, we suggest reading our exclusive guide for it.
Pillar Wealth Management has an experienced team of wealth managers and advisors who have been working in this industry for more than three decades. We exclusively cater to high net worth individuals and ultra-high net worth families only because we understand that such individuals have entirely different needs than ordinary people. We offer distinctive and personalized financial services based on extensive research and our in-depth knowledge of the market. Schedule a conversation with us to discuss your financial needs.
In this blog, we’ll be discussing why you should hire a financial advisor Kansas City, how they charge clients, how to tell if they’re doing a good job, and how to choose the best one for yourself. Let’s start.
Table of Contents
Why Hire a High Net Worth Financial Advisor?
The average person might aim to pay off all their debts or max out their 401(k) accounts. In comparison, high net worth individuals have much more significant and complex goals that require a lot of planning.
For instance, you might want to start a charitable organization, travel around the world or invest in multiple businesses. All this is only possible through thorough planning and research, which is best done by a financial advisor.
Here are a few other reasons why you should hire a financial advisor Kansas City.
Expertise and Experience
Even if you have the skills to manage your wealth on your own, you will lack the experience and expertise that financial advisors have. Not only do they carry various certifications and licenses that equip them with in-depth knowledge, but they also carry a lot of experience after handling portfolios and assets of many clients.
This way, they know all the small tips and tricks and smart strategies to develop the best portfolios for their clients. Reach out to our wealth managers and advisors who hold more than six decades of experience in total in this industry.
Customized Financial Solutions
Financial advisors can provide customized financial solutions, which are crucial for the success of any financial plan. If you go to big financial institutions, they won’t really consider your personal goals and simply offer you a fixed investment package that has worked for them in the past, carries no risks to them, and most importantly, doesn’t really benefit you. Click here to read our insightful guide on portfolio performance to learn why such performance isn’t that important.
Financial advisors, such as those at Pillar Wealth Management, really take the time to understand your unique financial situation and your short and long-term goals in life. Then, they develop personalized financial solutions that will best help you meet your goals in life. Order a copy of our book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies for Families Worth $25 million to $500 million, to discover how customized solutions can help grow and protect your wealth.
This is not the case with all financial advisors, but some financial advisors offer fiduciary financial services. This means that they are obligated to provide you with the best advice, recommendations, and service overall.
They are supposed to put your interests before their own. They don’t have any conflicts of interest with you. Financial advisors who are not fiduciaries don’t offer such benefits to high net worth individuals. Click here to go through our guide on choosing the best advisors and learn the signs of a wrong advisor.
How do Financial Advisors Charge Clients?
Just like all financial advisors are not fiduciaries, all financial advisors don’t charge clients the same way either. There are some advisors who work on commission, while there are some who charge a fixed percentage. There are even those who charge on both bases.
Furthermore, even among advisors who charge a fixed percentage, there are those who charge on an hourly basis and those who charge on an annual basis. Get in touch with our advisors who operate on a 100% fee-only basis.
How Do I Know If My Financial Advisor is Doing a Good Job?
The number one way to tell if your financial advisor is doing a good job is if you feel financial serenity with them. And if you’re wondering, “what do financial planning clients really want?” this is it.
When they are doing a good job, they will communicate with you about the progress of your financial plans, they will tell you how close you are to your goals and targets, your costs will be low, they will always be available to answer your queries, they will grow as well as protect your wealth, and much more.
In short, when you don’t have to worry about your financial advisor Kansas City and your wealth, you will know that they’re doing a good job. If you want that kind of financial serenity and success, read about the shifts you must make first from our guide on portfolio growth and strategies for high net worth families.
Choosing the Best Financial Advisor Kansas City
However, all these benefits really depend on you finding the best financial advisor. Some of the factors you should consider are their credentials, reputation, standard of care, experience, and services. We recommend reading our exclusive guide on finding the best financial advisors for individuals with $10 million or more in liquid assets for a detailed description.
Pillar Wealth Management is a 100% fee-only wealth management firm. Our fiduciary financial advisors suffer from no conflict of interest, which allows us to dedicate our full efforts to helping our clients achieve their financial goals and attain financial serenity. Schedule a free meeting with our advisors to get started on your wealth management.
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