The Complete Guide to What We Do
Safeguarding wealth can be a challenging task that many wealthy individuals struggle with. Investors that have $5 million to $500 million in liquid investment assets can benefit from using the services of a financial advisor. Seattle residents with a high net worth or an ultra-high net worth should turn to Pillar Wealth Management for financial advisory services. Our exclusive guide for investors with $10 million or more outlines many of the wealth protection strategies we use.
Table of Contents
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.
Why You Should Hire a Financial Advisor
You may be wondering, “who should hire a financial advisor?”. The truth is that everyone can benefit from using the services of a professional financial advisor.
As a wealthy individual with a high net worth or an ultra-high net worth, you may feel conflicted about paying for financial advisory services. On the one hand, you may have built up your wealth yourself. So you may be the one best suited to make financial decisions that impact your future.
On the other hand, there are many areas where you could benefit from using a professional’s assistance. Let’s look at some reasons why you should consider hiring a financial advisor.
Better Insight into Your Financial Position
Wealthy individuals often have their wealth dispersed between bank accounts and various assets. This may make it difficult to determine how much wealth you actually have. Some of this wealth may be easy to access, while other portions could be tied up in non-liquid assets.
It’s essential to understand your finances if you wish to set up financial goals and start working towards them. For example, if you plan to save up for a comfortable retirement, you should know how much money you have in savings, along with some idea of your expected income and expenditures for the future. Failing to account for each of these components could leave you with fewer savings than expected by the time you retire.
A financial advisor or a wealth manager can study your finances and help you get a clearer picture of their current standing. They can then use this information to formulate an appropriate plan to help you meet your short-term or long-term goals. Get in touch with our wealth managers to get a better understanding of your finances.
Assistance with Complicated Strategies
Wealthy individuals are often skilled in wealth building activities. However, after a certain point, your usual strategies may not cut it anymore. Once you reach a plateau in your wealth-building quest, you may need to utilize more advanced strategies to get ahead.
You can learn about some advanced wealth-building strategies in our book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.However, you may require the assistance of a qualified financial advisor or a wealth manager to execute such strategies effectively.
A wealth manager can assist you in setting up your financial plan and also offer advice during its implementation. This will ensure that you are on the right track towards meeting your goals.
Risk management is an essential task that all wealthy individuals need to stay on top of. When you have high-value assets spread across numerous markets, you may be open to a wide variety of risks. Any sudden shift in markets could leave you facing massive losses and jeopardize your savings.
Individuals that possess a high net worth or an ultra-high net worth are less likely to go bankrupt than individuals with an average net worth. However, you may still be forced to downgrade your lifestyle to compensate for your losses. Get in touch with us for a free consultation about managing your investment risks.
Financial advisors such as wealth managers can study your portfolio and identify the many risks you are exposed to. They can help you understand the risks you may not be aware of and create strategies to help you avoid them or mitigate the harm they cause. We discuss asset risks in our special guide for investors with $10 million or more.
Financial Advisor Seattle: Who Should You Hire?
If the aforementioned reasons have persuaded you to hire a professional, you may wonder, “how do I find a high net worth financial advisor Seattle“? The answer to such questions can vary based on your location and the size of your professional network. However, there are many ways to seek out the right professional to help you with your financial plans.
Determine Which Services You Require
Before starting your search for a financial advisor, it’s essential to know what services you require. Some financial advisors specialize in offering advice related to a particular area, such as tax management or estate planning. You should seek out advisors according to your unique requirements.
If you require financial advice related to multiple matters, such as retirement planning, asset management, and portfolio analysis, you should consider seeking out a wealth manager. At Pillar Wealth Management, our wealth managers offer a wider range of services than most financial advisors can provide. Read our special guide on how to grow your portfolio safely.
Look Up Financial Advisors Online
Once you have clearly defined which services you require, you can start the search process for a financial advisor Seattle. One of the best places to look for experienced financial professionals is the internet. You can discover financial advisors in Seattle with the help of search engines such as Google.
You may be able to pull up a list of financial advisors using a single search query. Alternatively, you can look for financial advisory firms and research the individual advisors employed by them. It’s also important to look up ratings and reviews for each financial advisor, as this will provide a better picture of their previous track record.
Utilize Your Network
Wealthy individuals may already be in contact with some financial advisors without realizing it. You should look through your network and see if anyone you know is a financial advisor Seattle. You can also ask other professionals which financial advisors they recommend. This strategy can help you find a trustworthy financial advisor in a short amount of time.
Vet Your Advisor Thoroughly
Once you have found a list of possible candidates, you should get in touch with each one. You can use this opportunity to vet them based on their financial knowledge. Most financial advisors are trained to be confident when meeting with prospective clients.
You can distinguish between the knowledgeable advisors and the less-qualified ones by asking the right set of questions. Our guide contains a list of questions to ask a financial advisor to get a better understanding of their expertise.
The advice that these financial professionals provide can have a significant impact on your wealth and long-term goals, so it is essential that you choose someone who is knowledgeable.
Is a Wealth Manager Better Than a Financial Advisor?
Wealth managers are a particular type of financial advisor that differ from their counterparts in many respects. Many wealthy individuals prefer seeking advice from wealth managers for the following reasons.
Experience with Wealthy Clients
If you have spent time looking up how to find a financial advisor for ultra-high net worth individuals, you may have stumbled across many wealth managers offering their services. This is because wealth managers specifically deal with clients that have a high net worth or an ultra-high net worth.
The vast majority of the experience wealth managers gain is through their dealings with wealthy individuals. They are especially well suited to offer these individuals advice, as they understand the unique financial goals and requirements of rich investors.
At Pillar Wealth Management, our wealth managers strive to maintain regular communication with their clients. This is in contrast to ordinary financial advisors who check up on their clients only a few times a year.
A wealth manager understands the importance of providing regular updates on your portfolio. They can also be there for you during each step of your financial plan’s implementation. Their goal is to help you keep your wealth and assets safe, and will offer their services as frequently as needed. Sign up for our free initial consultation to learn more.
Wider Array of Services
Perhaps the best reason to use a wealth manager is the wide array of services they offer. At Pillar Wealth Management, we offer services, including asset management, portfolio analysis, retirement planning, insurance planning, risk management, and tax management.
Our wealth managers possess knowledge related to each of these areas and can help you create a comprehensive plan that utilizes each of these services. This is because your financial goals will require effort in many different areas to achieve.
If your goal is to set up a comfortable retirement for yourself, creating a retirement plan can certainly be helpful. However, you can utilize better tax management strategies or asset management strategies to ensure that your wealth continues to grow following your retirement. Check out our guide for improving your portfolio performance.
How Much Do Financial Advisors Charge?
If you have never used financial advisory services before, you may be wondering, “what should I expect to pay a financial advisor”? The answer may vary depending on the financial advisor you go with.
Financial advisors may charge their clients on an hourly basis. You can expect to pay $100/hour to $200/hour for their services. Additionally, they may also charge you for each financial plan you request. These plans may cost you several thousands of dollars depending on the advisor you choose and the firm they are employed by.
If you choose to go with a wealth manager from Pillar Wealth Management, you won’t have to pay hourly charges or for the cost of each plan. Our wealth managers charge clients a fixed annual fee with no hidden costs. This ensures that you know exactly how much you will be paying beforehand.
Clients can use the services of our wealth managers as frequently as required without worrying about extra charges. This means you can ask for advice on any financial matter whenever needed.
Why Choose Pillar Wealth Management
There are numerous wealth management firms across the country. However, wealthy Seattle residents choose our services for a variety of reasons.
We have 60+ years of experience serving clients with a high net worth or an ultra-high net worth. Our wealth managers have assisted many individuals in protecting their wealth and helping it grow. We have seen the struggles investors face in their day to day lives and work to make their burden easier to manage.
Many clients have worked their way towards comfortable and worry-free retirements using our help. We do our best to cover your needs and hope that you can trust us to manage your wealth. Get in touch with our wealth managers for a free consultation today.
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