For high and ultra-high net worth investors looking for the best possible combination of service, expertise, and performance from a financial advisor in Walnut Creek, you will not find it at big national banks or Wall Street firms. Your financial serenity and security, for you and future generations, hinges on the advisor you choose to work with. You may walk with this person for decades. That’s why, for investors with $10 million or more, we created a very special resource, the Ultimate Guide to Choosing the Best Financial Advisor. Get it here. Pillar Wealth Management exclusively serves clients who have $5 million to $500 million in liquid assets.
If that’s you, and you need to talk to someone who understands people of your financial status, call today and get a free wealth management analysis with co-founders Hutch Ashoo and Chris Snyder.
In this call we’ll answer specific questions and show you how our customized portfolio planning process will deliver the optimized performance you want and the financial serenity you need, which includes the achievement of all your greatest lifestyle desires.
Table of Contents
- What is the best way to find a financial planner in Walnut Creek, CA?
- Determining how a Wealth Management Walnut Creek, CA can help you
- Robo-Advisor Digital Platform Investing
- Working with financial advisors in Walnut Creek – the financial planner
- Working with advisors that are investment brokers
- Why a wealth manager is the best financial advisor option in Walnut Creek
What is the best way to find a financial planner in Walnut Creek, CA?
Walnut Creek has a median household income that’s nearly double that national average. High income, expensive property values, and an above average cost of living for California, all mean that financial success is reliant on how much you plan.
An advisor can help you figure that out, and determine which financial goals are your top priority.
However, not everyone achieves these goals in the same way. One of the best ways to just about guarantee success is by using the service of a financial consultant in the 94596 zip code.
So how can you differentiate between the diverse types of financial advisors, and how can you ensure that the one you select is best for yourself and your family? One of the best way is to use The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets. It gives a ton of advice on how to select a good financial consultant in Walnut Creek.
It is not easy to manage your finances and investing portfolio, even if you consider your goals for the future to be simple. Sure, the process of managing your own investment portfolio can save money.
However, it is unlikely to bring the same investment results that an expert financial advisor can achieve.If you want to see how radically different Pillar’s process is and what you can do to optimize your performance, look at this free ebook, Improving Portfolio Performance: The Shifts Multi-Millionaires Must Make to Achieve Financial Security and Serenity.
After all, to really prepare for the future, you would need to understand the details on tax planning, estate planning, investment diversification, insurance, and a whole lot more.
Unfortunately, it just is not possible for one person alone to become a specialist in these areas. That is why it’s important to work with a Walnut Creek wealth management company while managing your finance and investments.
The right advisor can help you determine what to invest in, explain the tax advantages of various strategies, and even answer non-investing related questions such as, should you start a foundation or a donor advised fund.
Some questions you have, for example, on receiving a large inheritance in 94596, may also be area specific. An advisor that understands laws and regulations in your area will be best suited to help.
Before we discuss how to find a great financial advisor in 94596 and the surrounding areas, let’s explain the different types of advisors available to help you.
Robo-Advisor Digital Platform Investing
Robo-advisors are one form of financial advisor that you can use to manage your money.
However, they do not offer the same services as your traditional financial advisors in Walnut Creek. Instead, a robo-advisor is an online company that uses computer algorithms to invest money.
By working with a robo-advisor, you will fill out information about your investing goals and habits. A computer system will review the survey and determine the best way for you to invest money to achieve your goals.
The algorithm considers factors such as length of time you want to invest, your level of risk, and more while determining how to diversify your portfolio. It is a good option for people that want a low-cost, hands-off method of investing.
With that in mind, robo-investors are not for everyone. If you have a complex financial situation, or you have a significant amount of capital to invest, then a robo-advisor is likely not for you.
Affluent clients need more one-on-one attention, as their portfolios often need timely interventions to save money on taxes, rebalance, plan for specific goals, and maintain long term portfolio health.
Plus, many robo-advisor companies do not actually have human financial advisors to answer your questions.
Hence, it is much better to work with a Walnut Creek financial planner than it is to use an online robo-investor, if you are a high net worth or ultra-high net worth investor. Schedule a free consultation with one of our co-founders.
Working with financial advisors in Walnut Creek – the financial planner
One type of financial advisor that you can work with is a financial planner. A financial planner in Walnut Creek will look at your lifestyle, how you spend money, and your goals to create a comprehensive financial wellness plan.
This plan will consider your income, expenses, assets, liabilities, and several other factors. From there, a financial planning professional can outline the steps you should take monthly and annually to meet your goals.
This plan can include the types of accounts you should hold your money in for the greatest tax advantage and how much you should invest each month. It alsoshould address the types of investments and securities you should keep in your investment portfolio. If you have $10+ million to invest as well, try this resource.
Is there ever a reason not to use a financial planner? If you are searching only for a Walnut Creek financial planner, then you might not end up working with a professional that can help you with all aspects of managing your money.
The issue of working with someone that specialized in financial planning is that they can build a plan for you, but cannot sell you the investments and securities that comprise that plan.
Additionally, they might not be aware of all the investment options that you can access, which might meet your financial needs.
To purchase stocks, bonds, and other securities, you will need to utilize the services for another financial professional. Planners can be your resource for information on inheritance, but they cannot provide the same comprehensive services that a wealth manager can.
Register for your free, no-obligation consultation with Pillar Wealth Management, LLC. Our company co-founders Hutch Ashoo and Chris Snyder will explain our wealth management services and how our firm can help you achieve your financial goals.
Working with advisors that are investment brokers
If you opt to work with a financial planner, then you will also need to work with an investment broker. So, what are investment brokers and how do they fit into the equation?
An investment broker, also referred to as a stockbroker, helps you purchase the stocks, bonds, and securities you need to accomplish your financial plan.
If you work with a financial planner, you will need an investment broker to create the portfolio outlined in your plan.
There are some reasons why you will be better off working with a wealth advisor instead of these two individuals.
Whereas financial planners typically work for a set fee, investment brokers are often paid on commission. Thus, your broker will earn money any time that you purchase stocks, bonds, or other securities from them.
While this is not typically a problem, it allows for your stockbroker to act in his best interest, instead of yours.
When you are working with someone that is supposed to be your financial advisor, this is not always setting yourself up for an ideal relationship.
Learn how to select a good financial advisor by reading our free guide, The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets.
What Can Go Wrong
For instance, while working with a Walnut Creek financial advisor that sells investments, you may explain that you are looking for a mutual fund that pays quarterly dividends.
You explain that you want to provide money for family members overseas using these dividend payments, so you want to select a fund that provides good returns while also increasing in value.
There are two events that could happen after this.
The first thing that your financial consultant could do is suggest what he thinks is the best fund available for achieving your goals.
However, instead of doing this, your stockbroker also has an opportunity to consider whether there is a mutual fund that provides dividend payments, while also increasing his commissions.
In this case, your advisor might know of a better financial product, but suggest a fund that leads to a bigger paycheck for himself.
This is a risk that you must consider while working with an investment broker. Because your advisor shares products with you that meet the requirements of providing a quarterly dividend payment in this example, they have fulfilled their job requirements.
It does not matter whether it is the best fund for your exact situation or not. Although this sounds like it should not occur, there is nothing stopping this from happening.
The stockbroker simply does not have a requirement to work in your best interest.
Is there something you can do about this? Protecting your wealth is an art, and avoiding non-fiduciaries is one small part of it. For a more complete picture, get a complimentary copy of our book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates: Strategies for Families Worth $25 Million to $500 Million.
Why a wealth manager is the best financial advisor option in Walnut Creek
If you are looking for a wealth manager near you, consider working with Pillar Wealth Management. Our company co-founders Hutch Ashoo and Chris Snyder would love to discuss your needs and future goals if you are looking to invest between $5 million and $500 million in liquid assets. Register for your free, no-obligation consultation today.
Working with a wealth advisor is like working with both a financial planner and an investment broker. An exceptional wealth advisor will take time to learn your needs and goals, and then create a comprehensive plan build a solid financial future.
Whether you’re curious about inheritance in Walnut Creek, you want to know how to diversify your investment portfolio, or you have specific questions about other financial planning issues, a wealth manager will give you the time and attention you deserve.
Additionally, they can purchase investments on your behalf, and manage your whole portfolio without requiring consent for every transaction if you prefer a more hands-off role.
Registered Investment Advisors – Your Assurance of Trust
Wealth managers work for companies known as Registered Investment Advisors (RIAs). After the business owner passes an extensive finance exam, they will register with either their state or the Securities and Exchange Commission.
After they have registered, the wealth management firm must work within several state and federal laws. One of the most important guidelines an RIA must follow is known as fiduciary duty.
Essentially, as a registered advisor, they must only make financial decisions that are within your best interest. They cannot purchase, sell, or suggest an investment unless it is the right solution to meet your needs.
As you can tell, this is quite different from the way that stockbrokers work and aligns with what you would expect from a person you entrust with managing your wealth.
It is incredibly important because wealth managers usually request permission to actively manage your investment portfolio.
They can make trades on your behalf under a certain dollar amount without getting permission for each transaction.
Therefore, it is important that you trust the advisor that you are working with.
To comply with RIA laws, your wealth advisor will keep track of all their transactions on your investment account and explain why their decision is the best way to achieve your short- and long-term goals.
Do you need a wealth manager to help you invest between $5 million and $500 million in liquid assets? Schedule your free consultation with Pillar Wealth Management, LLC.’s co-founders Hutch Ashoo and Chris Snyder to discover how our wealth advisors can help.
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