With beautiful outdoor space, incredible food, and an expanding job market, you can see why it is nice living in San Francisco. Yet with a high median income and middle-class salary, at some point you will need to find a financial advisor that can help you invest and prepare for the future.
Who can you turn to as your financial advisor in San Francisco, and what are your options for managing your wealth? Here is how to find a San Francisco financial advisor that understands your unique needs as a bay area resident.
As wealth advisors that work with clients who have $5 million to $500 million to invest, our firm Pillar Wealth Management, LLC., understands the needs of affluent clients like yourself.
Table of Contents
- How can I find a financial advisor in San Francisco?
- Understanding the role of financial advisors in San Francisco
- Automated Investing with Robo-Advisors
- Working with financial advisors in San Francisco – financial planners
- What about working with an investment broker?
- Wealth management near me – why work with a wealth management company?
- Is it best to work with a wealth manager near me?
Are you looking for help investing anywhere from $5 million to $500 million in liquid assets? If so, you will want to talk to us. Pillar Wealth Management, LLC. helps multi-millionaire clients manage their wealth.
We understand the unique needs of affluent clients and offer a variety of services that can help you succeed financially. Register for your free consultation with company co-founders Hutch Ashoo and Chris Snyder. We will get to know your financial goals and help you reach them by utilizing sound financial advice.
How can I find a financial advisor in San Francisco?
As someone who lives and works in San Francisco, chances are that you and your family earn salaries that would put you at the higher end of the income spectrum anywhere else in the US. No matter if you consider yourself firmly middle class, or more upper class, you will always have specific financial needs.
Some of your financial goals may include saving for a home or home upgrade, saving for retirement, or planning your estate to pass along to your family for generations.
But what can you do to achieve these goals, and where do you put your money after paying your rent or mortgage, student loans, and other bills? No matter what your goals are, a financial advisor in 94111 can help you meet them.
Let’s start by discussing the various options you have for managing your money, and the roles that advisors typically play.
Before we move onto that topic, there is a resource you should be aware of. Our team at Pillar Wealth Management, LLC.
Put together The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets to help you out. Be sure to grab your copy of this resource, which will help you locate a great financial advisor.
Understanding the role of financial advisors in San Francisco
Managing your own money can be incredibly challenging, especially if you have complex financial goals. Although working on your finances, planning your investments, and managing your portfolio can save money, it requires a lot of skill and knowledge.
Unless you are a financial planner, it can be difficult knowing where to begin. How much should you be saving each month? Where should you keep your money to achieve your goals? Which tax advantage accounts should you use?
To answer these questions, you would need knowledge about accounting, investing, and taxes. This does not even mention other financial planning considerations you will need at various stages of your life, such as what insurance to purchase or how to plan your estate.
Because there is such a high learning curve to learn every one of these financial topics, we need someone that can help. That is where a financial advisor comes in. Here are all the different financial advisors in San Francisco that you can turn to. If you have $10+ million to invest, take a look here.
Automated Investing with Robo-Advisors
Before explaining robo-advisors, let’s talk about your investments. What are you currently doing to ensure that your investment portfolio is growing? If you want to achieve better results, receive a copy of our guide, Improving Portfolio Performance: The Shifts Multi-Millionaires Must Make to Achieve Financial Security and Serenity.
It will explain what other affluent individuals are currently doing to meet their financial goals.
One of the newest financial advisors in San Francisco that is rising in popularity are referred to as a robo-advisor. However, these are not like the traditional financial consultants near me. Instead, robo-advisors are companies that use algorithms to select investments for their clients.
Essentially, you take a survey where you discuss your goals for the money you would like to invest. Then, a computer determines how to invest your money to reach your goals. It will take into consideration the length of time you have to invest, your purpose for investing, and several other factors before creating a diversified portfolio.
While robo-investors and robo-advisors might be helpful for those who have simple investing goals, this type of portfolio management will not work for more affluent clients. Many robo-advisors do not offer access to a real financial advisor, so it will be difficult to have questions about your financial situation answered.
For example, if you want to discuss inheritance in 94104, or other complex financial situations, this is not something you can do with a robo-advisor. This type of financial is generally available for those who do not need holistic money management services to achieve multiple financial goals.
Next, we’re going to talk about other types of financial advisors in San Francisco. Before that, it is important that you understand methods for growing and protecting your wealth.
Our book The Art of Protecting Ultra-High Net Worth Portfolios and Estates: Strategies for Families Worth $25 Million to $500 Million provides the background information you should know about wealth management. Use the link above and Pillar Wealth Management, LLC. will send you a free copy of this book.
Working with financial advisors in San Francisco – financial planners
Let’s assume that you would prefer to work with a professional advisor, rather than an online company when it comes to managing your finances. In this case, you also have several options.
Earlier we spoke about all the skills that are required to produce a holistic financial plan. It includes steps such as figuring out the best investments to reach your goals, using insurance products to secure your financial future, managing your tax liability, and more.
It is the job of a financial planner to take your goals into consideration, while building an investing plan that will help you succeed financially.
What are the potential problems with using a financial planner? While it is good to develop your own unique financial plan, that is likely not the only service you will need. This is especially true if you are a high net-worth individual.
You see, certified financial planners are often limited in the services they can provide to you. Most will not be able to sell the investments and securities that you need to accomplish your plan. This means that you’ll need to use the services of another party to purchase stocks, bonds, and other investments.
A financial planner simply cannot offer a one-stop solution for most people. Sure, they can answer questions on inheritance in 94111, but they are unable to offer comprehensive services that companies who specialize in wealth management in San Francisco can.
Are you ready to find the San Francisco wealth management firm that can meet all your financial needs? If you have a portfolio with $5 million to $500 million that you need to manage, it is time to speak with Pillar Wealth Management, LLC.
Our company co-founders Hutch Ashoo and Chris Snyder are currently offering free consultations to affluent individuals that need professional wealth management services.
What about working with an investment broker?
So, just who are the people that can help you purchase investments such as stocks and bonds? Another type of financial advisor that you can work with is an investment broker.
These individuals are also called stockbrokers and they are knowledgeable about investment solutions that help you achieve your short- and long-term goals.
Working with both a financial planner and an investment broker can help you build your plan and work towards creating an investment portfolio that follows plan guidelines.
But are there certain risks of working with investment brokers instead of finding a wealth advisor in San Francisco? Here is what you should know.
One of the reasons why it is often best to work with a wealth advisor in 94111 is because stockbrokers earn on commission.
On the surface this is not an issue. However, when you realize that there are regulations on stockbrokers put in place whenever they suggest financial products to you, there’s always a risk that your broker will have a conflict of interest.
For example, let us say that you are interested in financial planning for retirement. You explain that you would like to know about mutual funds that you can invest in to grow your retirement savings. If you have an excellent stockbroker, she will suggest the best fund to invest in, that should achieve the results you are looking for.
However, what happens if your broker is not so great? Well, they might see this situation as an opportunity to suggest that you purchase a mutual fund that has not performed so well. They might even suggest this product because it leads to a higher commission rate than another mutual fund that would be better for you.
Unfortunately, there is nothing stopping an investment broker from doing this. If your broker suggests something that fits in with your need for retirement products, they can tell you the benefits of buying anything that’s retirement related.
Although we hope that the broker would suggest products that are best for your financial goals, they may put their needs ahead of yours. What is the solution? Let’s discuss working with a wealth advisor near me.
It should not be a challenge to find a great financial advisor. Receive your free guide, The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets and learn what to look for in your next financial advisor.
Wealth management near me – why work with a wealth management company?
If you need help managing between $5 million and $500 million in liquid assets, then you should speak with our team. Learn more about Pillar Wealth Management, LLC., wealth management services by registering for your free consultation with us.
You will speak directly with company co-founders Hutch Ashoo and Chris Snyder and we will discuss your current needs and future goals.
What does a wealth advisor do? Essentially, they work with affluent clients and offer the services of both financial planners and investment brokers.
Wealth advisors work for companies that are established as Registered Investment Advisors (RIAs). To receive this designation, a financial professional takes an exam and afterward registers with either their state government or with the U.S. Securities and Exchange Commission.
Once a company becomes an RIA, they have several guidelines to follow. One of the most important guidelines explains that RIA’s have a fiduciary obligation toward their clients. This means that RIAs must put your interests ahead of their own while working with you.
It is important because most RIAs can purchase stocks, bonds, and other securities on behalf of their clients, without receiving approval for every transaction.
Therefore, wealth advisors must invest their client’s money in the way that benefits the client most. This is a major difference between stockbrokers and wealth advisors.
As wealth advisors actively manage their client’s full investment portfolio, and they have a fiduciary duty toward the clients, most multi-millionaires typically prefer to work with wealth management companies over other financial advisors.
Since wealth advisors usually earn a commission based on the amount of assets under management, your interests align. After all, the more that you can succeed financially, the better that the wealth management company does as well.
Is it best to work with a wealth manager near me?
Now that you understand the differences between various financial advisors, one question you may have is whether you should work with a local professional or firm.
That is a choice which depends on what you value. If you enjoy meeting your advisor in person, that is an option you have by working with a wealth manager in your area. However, if you decide to look for an advisor that is not in your immediate area, you expand your options.
Plus, you can always communicate with your advisors online, through video conferencing, and on the phone.
Overall, it is nice to know what your wealth manager is close by. Consider working with someone in your area while you weigh all your options.
If you need a financial advisor that works near your area, consider Pillar Wealth Management, LLC. To discuss your needs of investing between $5 million and $500 million in liquid assets, schedule your consultation today.
You will speak with company co-founders Hutch Ashoo and Chris Snyder, and we will explain whether we believe that we’re the right fit for your family.
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