There are plenty of advantages when it comes to using a financial advisor, particularly if you have liquid assets that are worth millions. For instance, financial advisors have the experience and skills required to handle wealthy clients’ assets and portfolios. In this blog, we’ll talk about financial advisory services and answer a very popular question, “Should I use financial advisor services near me?”.If you want to make sure you choose the best financial advisor, don’t forget to read our guide here.
At Pillar Wealth Management, we are a team of professional financial advisors and provide our services to clients who have $5 million to $500 million in investable wealth. Plus, we have been in the industry for over thirty years. So, with us by your side, you won’t have to worry about any hidden costs, poor financial plans, and high-risk portfolios. Click here to schedule a free meeting with one of our financial advisors.
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.
Table of Contents
Why Do You Need Financial Advisor Services?
A very popular question that people ask about financial advisors is, “why do you need financial advisor services?” After all, you can find all kinds of information related to financial advisory on the internet. While this is undoubtedly true, there are several reasons why you do need to avail the services of a financial advisor.
Let’s assume you want to start planning for your retirement, or you want to establish a charitable organization for a cause that’s close to your heart. In such a situation, you need a financial advisor who can guide you and help you take the right steps.
Additionally, a financial advisor can even play a major role in helping you overcome your financial worries and stress. Before moving ahead, we would recommend reading The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies for Families Worth $25 Million to $500 Million. This is a free book authored by our team, where we discuss the importance of working with a financial advisor.
Here is a list of situations where you need to avail the services of a financial advisor.
You Have Plenty of High-Risk Investments in Your Portfolio
Several high net worth and ultra-high net worth investors prefer to invest their wealth across numerous financial markets. While this practice can lead to high returns, it’s highly risky as well. For instance, abrupt and unexpected market movements can undo all your long-term gains within a second. So, if your portfolio consists of investments spread across various markets, you need financial advisory services that can help you maintain a manageable level of risk.
At Pillar Wealth Management, our financial advisors’ team is adept at creating investment strategies to keep your investments’ risk at a minimum. Our team will even study your investment portfolio, inform you about the high-risk investments present, and suggest ways in which you can lessen the risk.
You Don’t Know Where to Invest Your Money.
Stocks and bonds are generally the most common places where high net worth and ultra-high net worth investors invest their money. This isn’t due to any objective reason but primarily because they don’t have much information about other lucrative investment avenues.
If your wealth is also concentrated on stocks and bonds, you need the services of a financial advisor who is well-versed in the best investment options available to maximize your wealth. For instance, private equity, real estate, collectibles (artworks, classic luxury cars, gold, etc.) are all high-return investments.
Working with a financial advisor will apprise you where you need to invest your wealth to get the highest returns. Our skilled financial advisors at Pillar Wealth Management will comprehensively assess your investment portfolio. Depending on your financial situation, risk aversiveness, time horizons, and financial goals, we will curate strategies to ensure that you get the desired level of gains.
So, if you don’t have the resources and time to stay updated with the dynamic market movements, you need to hire our financial advisors and let them handle this job for you! Read our guide, Improving Portfolio Performance, and learn you can transform a good investment performance into an excellent investment performance!
Your Tax Bill Is Increasing Exponentially
Perhaps the sole drawback of getting profitable returns on investments is the tax bills that come with it. Taxes and gains go hand in hand, so there’s really no way you can avoid them. But there are ways to cut down on these ever-increasing tax bills certainly.
An important service offered by financial advisors is that of tax management. Tax management plays an extremely critical role in maintaining and preserving your wealth. Our team will review your current financial situation to devise the best tax-saving plan that will allow you to attain your financial objectives. For instance, we can enlighten you about the government’s numerous tax incentives on particular categories of investments to minimize your tax liability.
You Want to Plan for Retirement
Retirement planning is hands down the most vital tasks you can take up for yourself. A financial advisor will make sure to include a holistic retirement plan in your financial plan. This plan will be based on your post-retirement financial goals and will include strategies on how you will fulfill those goals.
If you have a financial advisor working with you, you’ll be confident that after you retire, you’ll have sufficient funds to spend a peaceful and worry-free retirement. Moreover, if you have some new post-retirement financial targets, such as buying a new home, we will methodically estimate your potential cash flows and recommend techniques to accomplish them. In this guide, we have outlined the five critical shifts you need to make to bring your retirement dreams to life.
Should I Use Financial Advisor Services Near Me?
If you’re still not sure about hiring financial advisory services and are thinking, “Should I use financial advisory services?” the answer is yes! Using financial advisory services will significantly help you out, especially if you fit any of these categories.
You Don’t Have the Time and Resources to Manage Your Finances.
Financial planning is a job that requires experience, skills, and knowledge, and so, not everyone can take it up on their own. If you’re a millionaire, you’re probably on your toes from five o’clock in the morning to when you hit the bed at night. Thus, you will obviously have very little time to research the best investment options available or learn how to strike a balance between risks and returns.
In such cases, you must hire a financial advisor who has the requisite skill set required to handle such an enormous amount of wealth. Financial advisors have educational qualifications and professional experiences that have prepared them to take up the role. They are well-versed in the latest market trends and various market risks and use this information to create the best financial plans for you. Click here to speak to one of our financial advisors and learn how they can effectively manage your wealth.
You Make Decisions Based on Emotions
If you’re an emotional person who starts losing their nerves when the market crashes or slightly dips, you really need to use a financial advisor. A financial advisor will guide you and help to keep your emotions in check. This way, you won’t take up any hasty decisions, such as selling all your investments.
An experienced financial advisor will know that market dips are like stocks being on sale. In such cases, they’ll recommend you hold your investments and use any surplus money to purchase the low-priced stocks. Similarly, if there’s a newly emerging investment trend, a financial advisor will evaluate its profitability and help you sustain a well-balanced portfolio.
You Wish to Achieve Financial Serenity
There’s no person on this planet who doesn’t wish to become financially successful and attain financial serenity. However, attaining financial serenity is quite difficult for millionaires than it is for others. It’s extremely challenging to entrust another person with all your assets and wealth.
But this is precisely why you should use the services of a financial advisor. A competent, qualified, and experienced financial advisor will help you reach financial serenity so that you can live the life you always aspired for!
So, suppose you’re a high net worth or an ultra-high net worth individual and fit any of the three categories outlined above. In that case, you should definitely use a financial advisor who can do exhaustive research for you, keep your emotions under control, and ensure you reach financial serenity. With a financial advisor by your side, you can be confident that your wealth is being managed in the most optimum manner. Don’t forget to read our guide for investors with $10 million and learn how you can choose the best financial advisor to help you become financially secure.
Do You Think High Net Worth Financial Advisor Services Are Worth It?
If you speak to someone in your circle about hiring a financial advisor, one thing you’ll definitely ask is, “do you think high net worth financial advisor services are worth it?” Well, if this question is already lingering on your mind, then do check out these additional benefits of using a high net worth financial advisor.
Expertise, Skills, and Knowledge
High net worth financial advisors are highly skilled when it comes to handling the wealth and assets of clients who have investable assets worth $5 million and above. They have extensive information regarding the numerous financial and investment products available will keep a close eye on the market movements to swiftly take advantage of any lucrative trend.
Moreover, you may also not have access to past financial data, which is essential in developing financial strategies. Contrarily, our firm’s financial advisors have rich economic data that dates back almost a hundred years. We use this data to draw insights when preparing financial plans for our valuable clientele.
Customized Financial Solutions
Another reason why it’s worth to hire financial advisors is because of the customized financial solutions they offer. So, if you require financial solutions that are purely designed based on your goals and interest, a financial advisor is absolutely worth your money.
At Pillar Wealth Management, we are proud of the customized financial solutions we offer to our clients. In fact, we took merely seventeen new clients in 2020 so that we could cater to each one individually. Contact our team now and start working on your own customized financial plan!
How Do I Choose A Financial Advisor Service?
Given the numerous benefits of working with a financial advisor, you might now be convinced to hire one for yourself. If that’s the case, you might be wondering, “how do I choose a financial advisor service?” Well, then here are some ways in which you can choose the most suitable financial advisor service for yourself. You can also read this guide and get detailed insights on how to choose the best financial advisor.
Get Referrals from Friends and Family Members
The best way to start searching for a financial advisor is to ask your high net worth and ultra-high net worth friends and family members for recommendations. There are high chances that some of these people have already worked with a financial advisor and can let you know which ones provide the best services.
Check Their Background
Before selecting a financial advisor, you need to carry out a thorough background check. For instance, you can read reviews of your shortlisted financial advisors on online platforms such as the Better Business Bureau.
You can even search your shortlisted financial advisors on LinkedIn to learn more about their professional experiences, educational qualifications, etc. Any guides or books that they have published will also add to their integrity.
Have an Introductory Meeting
Before finalizing a financial advisor, you should directly speak to them. You should use this meeting as an opportunity to put forward your queries related to financial advisors. Some possible questions that should be on your list include the following:
– How will you manage my portfolio’s risk?
– What financial advisory services do you provide?
– How will you allocate my assets?
– Do you provide fiduciary services?
Last Few Words
If you need more information regarding financial advisors and their services, you should get in touch with us. We can give you details on how a financial advisor can help you manage your assets and grow your wealth. Click here to schedule a free meeting with our team.
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