High Net Worth Planning For All Investors — PillarWM

Planning for the future is vital for any investor who wishes to safeguard their wealth. Although it is difficult to predict the challenges you may encounter later in life, having preparations in place is vital in many situations. Investors seeking high net worth planning often reach out to financial advisors and wealth managers for assistance. At Pillar Wealth Management, we specialize in wealth management services that encompass many types of planning for investors with $5 million to $500 million in liquid investment assets. Prospective investors can learn about some of the planning strategies we use by requesting a free copy of our new book 7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning.

STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION

 

7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning

 

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.

Understanding the Value of Net Worth

High net worth investors might not think twice about the net worth they have accrued over the years. However, this wealth puts them in a special position where they are able to grow their wealth at a faster pace than investors with a low net worth. Please set up a free meeting with our wealth managers to learn how to use your net worth to your advantage.

If you are wondering, “Is a net worth of $30 million a lot?”, the answer is yes. In fact, only 190,000 individuals in the United States have a net worth of $30 million or higher. That’s approximately 0.06% of the population.

So why is net worth important? If you have a net worth of $30 million, you have the freedom to invest in high-value assets that would be out of reach for most investors. Any value appreciation these assets undergo is likely to earn you a significant amount of profit. You can then reinvest your earnings and grow your wealth at an even faster rate. Investors who have $5 million or more can learn some key investment management by reading our special guide.

What are the Needs of High Net Worth Individuals?

You may be wondering, “What do HNW clients want?” The truth is that most high net worth individuals have the same needs as people with average net worth. They would like to retire comfortably while being able to support their families. They would also like to build wealth and pass it on to their heirs.

Each of these needs can be met with the help of proper planning from a financial advisor or a wealth planner.

What is a Wealth Manager?

You may have heard the term “wealth manager” without understanding what it means. This term refers to a special type of financial advisor that assists clients with high net worth or ultra-high net worth. They possess a deep understanding of finance and offer a wide range of services to help investors meet their short- and long-term goals.

This is in contrast to ordinary financial advisors who may specialize in offering single services such as asset management or retirement planning. Please set up a free meeting with one of our wealth managers to learn how we can help you.

high net worth planning

What High Net Worth Planning Services Do Wealth Managers Provide?

Wealth managers do not usually refer to themselves as planners. However, many of their services are focused on planning. This includes:

• Retirement Planning

• Estate Planning

• Tax Planning

• Insurance Planning

Retirement Planning

Anyone who wants an enjoyable, sustainable retirement can benefit from retirement planning services. Wealth managers understand the various challenges of retirement. These include stretching out your savings, earning passive income, and paying medical bills.

If you would like to increase your retirement savings before reaching retirement age, your wealth manager may recommend various budgeting practices. Similarly, they may advise you to invest in stable assets that provide you with a steady supply of passive income once you have retired. You can learn some great portfolio performance improvement tips by reading our performance guide.

Estate Planning

If you intend to pass your wealth onto your dependents, a wealth manager’s estate planning services could be invaluable to you. Investors who pass away without having an estate plan risk putting unnecessary hardship on their families. In such situations, courts determine how your wealth will be distributed. This process is both costly and time-consuming. In addition, the courts may distribute your wealth in a manner that goes against your wishes.

A wealth manager can help you craft the perfect estate plan that describes how exactly you would like your wealth to be distributed. This speeds up the wealth distribution process and saves part of your wealth from being spent on legal fees. You can learn more about our strategies for estate planning at Pillar Wealth Management by reading our special guide.

Tax Planning

High net worth individuals pay some of the highest taxes in the nation. No one enjoys paying taxes, but it is necessary so that your assets and earnings remain in good legal standing. The good news is that with the help of a wealth manager, you can legally reduce the amount of taxes you owe.

A wealth manager may help you restructure your portfolio to reduce your tax burden. Similarly, they may advise you to switch your state of residence for additional tax savings.

How to Find the Perfect High Net Worth Planning Wealth Manager

Investors who are seeking the perfect wealth manager to help them with their high net worth planning needs may struggle to find a suitable professional. After all, there is no shortage of wealth managers who tout themselves as being among the best.

To make this search a bit easier, we have outlined some core steps to follow.

1.     Consult Your Professional Network

There are hundreds of wealth managers who offer their services across the country. However, the best place to start looking may be closer to home. You should start your search by reaching out to other professionals or investors in your network and asking them about the wealth managers they use.

You may be surprised to learn just how many people around you are already using wealth management services. This strategy is useful because it helps you find trustworthy wealth managers with a good track record. If you would prefer to search for a suitable wealth manager independently, consider moving on to the next steps in our guide.

2.     Search the Internet

The internet is arguably the best place to find wealth managers. Most, if not all, wealth management firms maintain a digital presence. You can look up the various wealth management firms that offer services in your area using a quick Google search.

You can then look up their website directory to find the wealth managers who work at these firms. These company websites will also offer information about the types of wealth management services they offer. Consider drawing up a list of eight to ten wealth management firms or wealth managers who provide the services you are seeking.

3.     Read the Reviews

Next, you should look at the reviews for each of the wealth managers on your list. Many wealth managers feature positive testimonials and reviews from past clients on their websites. You should avoid relying on such reviews as they may be cherry-picked examples chosen by the wealth management themselves.

A smarter strategy is to look up reviews for the wealth manager on independent review sites. If you do manage to find such reviews, read them closely for any red flags regarding the wealth manager’s availability or charges. Any wealth manager who is difficult to get a hold of or charges their clients hidden fees should be avoided.

4.     Set Up a Meeting With the Wealth Manager

The final step is to set up a meeting with the wealth manager to gauge their suitability and expertise. This could be an in-person meeting, a video call, or a phone interview with the manager. You can set up a free introductory meeting with our wealth managers at Pillar Wealth Management on our website.

Once you have introduced yourself to the wealth manager, consider telling them about your background and your short- and long-term financial needs. You can also ask them, “How do you deal with high net worth individuals?”

The wealth manager will then discuss the various services they provide and delve into a few areas in which they might be able to assist you. During this stage of the interview, you should attempt to gauge the wealth manager’s expertise as well as how much they understand the needs you have discussed. If they provide vague or generalized plans to help you with your needs, they may not be a fit for you.

A great wealth manager always strives to provide personalized services that consider your unique needs and background. Keep an eye out for such wealth managers as they can help you safeguard your wealth in a manner that aligns with other financial goals.

Why Choose Pillar Wealth Management?

You may find many wealth management firms during your search. However, few can compete with the high net worth planning services we offer at Pillar Wealth Management. Some of the reasons our investor clients choose us time and time again include:

Our Experience

Our wealth managers possess over six decades of combined industry experience. They have assisted clients through various difficulties over the years and understand the concerns of high net worth individuals.

This experience has taught them how to navigate through challenges, and they are glad to utilize their skills to help you over the hurdles you may encounter on your wealth-building journey.

Our Expertise

Our wealth managers possess expertise in many financial areas. They have a deep understanding of asset management and planning and can offer suitable advice for every situation. You can learn about some of the expert strategies we use by reading our special guide.

Our Personalized Services

At Pillar Wealth Management, our wealth managers always take the time to understand your financial background and needs before offering advice. After all, your knowledge and background play a vital role in determining what approach to take when tackling a problem.

Our wealth managers can personalize their services based on what they know about you. They can help you implement advanced investment strategies without having to possess prior investment knowledge.

Allow us to assist you in protecting and growing your wealth. Please set up a complimentary meeting with our wealth managers to get started.

Authors

To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.

We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.

You see, our goal is to only accept 17 new clients this year. Clients who have from $5 million to $500 million in liquid investable assets to entrust us with on a 100% fee basis. No commissions and no products for sale.

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