Money Advisor for Wealthy Investors – PillarWM
Wealthy investors have plenty of things to manage in their day-to-day lives. After all, building up and protecting your wealth tends to be a never ending task. Such investors can make things easier by seeking services from a money advisor. If you are looking to invest $5 million to $500 million in liquid investible assets then we highly recommend you read this in-depth book specifically written for HNW individual. You can request your copy of this 70+ page book about investment strategies and financial planning 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.
Table of Contents
What is a Money Advisor?
You may have heard the term “money advisor” used when referencing a particular subset of financial professionals. So what is a money advisor?
A money advisor is simply another term for a financial advisor. These professionals offer clients advice on various financial matters and may provide assistance with financial planning. Please speak with our wealth managers to learn more about money advisory services.
How Can a Money Advisor Help Me?
So how does a money advisor actually help you? A money advisor’s services can be beneficial in a variety of ways. This includes:
Choosing the Right Investments
As a wealthy investor, you may already be familiar with the ins and outs of investing. However, no investor has perfect knowledge of every market. This is where a money advisor can lend their assistance.
A money advisor can help you study unfamiliar markets and guide you in choosing the right investments that are in line with your portfolio goals. You can learn about some great investment strategies by reading our portfolio expansion guide.
Boosting Your Net Worth
If you wish to attain a particular net worth by a certain age, you will need to follow several steps. This may include setting up additional income sources and following a strict budget.
A money advisor can offer advice on businesses to invest in and can help you calculate the ideal budget to boost your net worth. They may also offer strategies for improving your portfolio performance. You can read about some portfolio performance improvement strategies in our special guide.
Protecting Your Wealth
Wealth protection is of immense importance for wealthy investors. After all, why spend decades building up your wealth if you can’t keep it safe? Unexpected events such as medical emergencies, lawsuits, or market crashes can cost you greatly and leave you with far less wealth than before.
For this reason, it is vital to take steps to protect your wealth. A money advisor can offer advice on how you can avoid the aforementioned scenarios or mitigate the damage they do. We discuss the importance of wealth protection in more detail in our book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
Planning For Retirement
Retirement planning is another crucial task that all investors must perform at some point. Retiring without a comprehensive plan in place will make it much more difficult to lead the post-retirement lifestyle you envisioned. Luckily, a money advisor can offer advice in this area and help you achieve your retirement goals.
This includes recommending investments that will offer passive income during retirement. In addition to this, the advisor may guide you in choosing health insurance plans to keep you and your family covered in the event of medical emergencies. Please speak with our wealth managers for assistance with retirement planning.
How Much Do Money Advisors Charge?
If you are interested in using a money advisors’ services, you may be wondering, “how much does it cost to hire a money advisor?”. While different money advisors charge different fees, they may also differ in terms of fee structure.
Some money advisors charge an hourly rate for their services. This could be anywhere between $100 and $400 an hour. This fee structure isn’t ideal, as it discourages you from using the advisor’s services except when it is absolutely necessary.
Other money advisors charge clients a fixed fee based on a percentage of their asset value. This fee structure is better for you, as it allows you to reach out to the money advisor as frequently as you would like to and without paying extra.
Is a Money Advisor Worth It?
There are plenty of financial professionals out there who offer services to help wealthy investors. As a wealthy investor, you may be wondering, “Is it worth paying a money advisor?”. The fee examples we mentioned above can make it seem as though using a money advisor will cost you a lot. However, the services these professionals offer much greater value than their fee costs.
For example, a money advisor’s advice may help you grow your wealth by 5% in a single year. In addition to this, they can help you protect the wealth you have already built up. This makes paying a 1% or 2% asset value fee worthwhile, especially if you believe your assets and wealth are at risk.
What Makes a Good Money Advisor?
Before setting out to find a money advisor, you should familiarize yourself with the qualities a good money advisor possesses. This includes:
All good financial professionals are expected to have experience in their area of expertise, and money advisors are no exception. However, a money advisor’s experience tends to be more valuable given that they are helping you with wealth and assets that are valued in the millions.
An experienced money advisor would have assisted numerous clients in the past and will be familiar with the right approaches for wealth building and protection. They may have helped their clients overcome certain challenges and can put the knowledge they gained towards helping their newer clients such as yourself.
Money advisors are expected to be knowledgeable in a variety of financial areas. These professionals typically possess a finance degree, but a significant portion of their knowledge also comes from helping clients over the years. You can learn about some of our specialized investment strategies in our guide for investors with $10 million or more.
You may find money advisors who possess both knowledge and experience. However, this doesn’t necessarily make them the right fit for you. If a money advisor is difficult to reach or refuses to make time for you, they will be as helpful as a less qualified or a less experienced advisor.
How to Find a Money Advisor
If you are interested in using a money advisor’s services, you might not know where to start looking for one. There are plenty of money advisors scattered across the nation. You can use these steps to find the right one for you.
The internet is the perfect place to start your search for a suitable money advisor in the digital era. A simple Google search for “money advisor” or “financial advisor” will yield many results. This will take you to the money advisor’s business website or the website for the agency they work for.
You should aim to draw up a list of eight to ten advisors who offer services for high net worth and ultra-high net worth clients during this step. This will give you plenty of options before you start narrowing down your choices.
Check Out Reviews
The next step is to sort through your options by reading reviews and testimonials for the advisor online. Every advisor wants to advertise themselves as the best in the industry. You can verify the quality of their services by reading reviews on independent review sites.
It may also help if you got in touch with the advisor’s past clients and asked them about their experience with the advisor. You should ask about the quality of their services, how easy it was to reach out to the advisor, and any hidden fees they may have been charged.
It is also crucial to avoid reviews from the advisor’s own website, as they may be biased or specially chosen to give the advisor a positive impression.
Speak With the Advisor
Once your list is down to three or four advisors, you can try speaking with each one. This step allows you to assess the advisor yourself before making your choice. Try setting up an in-person appointment with the advisor or speak with them over the phone. You can speak with our wealth managers by setting up a free meeting.
Once the meeting is set up, you should ask the advisor about the types of services they offer and which areas they specialize in. This meeting would be a good time to ask them how they can help you with tasks such as retirement planning or boosting your net worth. Additionally, you can ask them some of the questions we discuss in our guide to choosing a financial advisor.
Wealth Manager or Money Advisor?
While searching for a suitable money advisor, you may come across numerous wealth managers. A wealth manager is also a financial professional who offers financial advice. However, they differ from ordinary money advisors in a few ways.
Types of Clients
Money advisors typically offer advice to just about anyone that is willing to pay them. This means they provide services for individuals with an average net worth as well as wealthy investors. However, diversity of clients could mean they have less experience with high net worth or ultra-high net worth individuals.
Wealth managers are more restrictive in terms of the type of clients they take on. These professionals provide services only to clients with a high or ultra-high net worth. At Pillar Wealth Management, we take on clients that have $5 million to $500 million in liquid investment assets.
List of Services
Ordinary money advisors may offer advice and help with planning in one or two financial areas. On the other hand, a wealth manager offers a wide range of services that cover multiple financial areas. This includes asset management, portfolio analysis, tax planning, retirement planning, and estate planning.
The services mentioned above can assist you greatly with wealth building and wealth protection. If you need assistance in various places, a wealth manager will be the right financial professional for you.
Why Choose Pillar Wealth Management?
Wealthy investors that are seeking premier money advisory services should reach out to Pillar Wealth Management. Our wealth managers are knowledgeable in various financial areas thanks to their six decades of industry experience. We offer personalized advice and plans for each of our clients because we understand that each one has unique needs and goals.
Our wealth managers always make time for their clients because they are familiar with the time-critical nature of wealth management. Please set up a special free meeting with us to get started with better wealth management and protect your wealth.
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