HNW/UHNW Wealth Management For Investors — PillarWM

The quest for greater wealth never stops for some investors. Many investors with a high net worth (HNW) reach for the stars when attempting to attain ultra-high net worth (UHNW). However, the HNW/UHNW transition is easier said than done. Investors who wish to grow and protect their wealth will face many challenges along the way. Many of them seek out services from professionals for assistance with these tasks. At Pillar Wealth Management, we specialize in providing such services for investors with $5 million to $500 million in liquid investment assets. Investors with $5 million or more can learn about some of the high and ultra-high net worth wealth management 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.

Differences Between High Net Worth and Ultra-High Net Worth

Wealthy individuals may use a variety of terminologies to classify their wealth. Among these are the terms “high net worth” and “ultra-high net worth.” You may be wondering what exactly each of these terms means and whether they aptly describe your level of wealth. Please set up a special free video meeting with our wealth managers to learn about high and ultra-high net worth.

The term “high net worth” typically refers to individuals with a minimum of $1 million in assets. There are approximately 18.6 million individuals in the United States who possess a net worth of $1 million, so high net worth investors are more common than one would think.

The term “ultra-high net worth” refers to individuals with a minimum of $30 million in assets. This level of wealth is much harder to reach. There are approximately 70,000 individuals in the United States who qualify as having an ultra-high net worth.

Growing Your Wealth

If you possess a high net worth, you may be wondering if it is possible to attain an ultra-high net worth. As an investor, you are in a prime position to grow your wealth compared to individuals with ordinary net worth. You have access to resources and opportunities that most others do not have. However, your success will depend entirely on your wealth growth strategy as well as your dedication to it. Investors with $5 million or more can learn about some key wealth growth approaches by reading our special guide.

HNW/UHNW Wealth Protection and Growth Strategies

Investors can protect and grow their wealth in a variety of ways. However, they may require the assistance of a professional such as a wealth manager.

The term “wealth manager” refers to financial professionals who aim to help high net worth and ultra-high net worth investors achieve their financial goals. They provide services to help such individuals overcome a variety of problems. These services include:

Making Smart Investment Choices

Wealth managers are equipped with plenty of market knowledge. They understand the ins and outs of the investment process and strive to remain up-to-date with market developments. As an investor, you might already understand the challenges of knowing when and where to invest.

Hiring a wealth manager gives you access to their bank of knowledge. You can reach out to them for help before making an important investment decision. For example, you can ask for their opinion before making a significant investment in an up-and-coming company in a special industry you are unfamiliar with. The wealth manager can then perform their independent research and inform you whether this decision is likely to pay off or whether you will be taking on unnecessary risks.

Managing Your Investments Effectively

Being an investor entails more than just endlessly buying assets. There is always a fair amount of work involved with maintaining and monitoring the assets in your portfolio. Once you have acquired a large number of assets, you may struggle to keep up with each one. However, neglecting or ignoring some of the assets in your portfolio isn’t a smart option as it can lead to disaster.

Wealth managers can be useful in this area. You can trust them to manage part of your portfolio on your behalf. They can use their knowledge to keep tabs on your portfolio performance and identify any risks that may be present. This strategy allows you to keep your portfolio optimal while also maintaining a close eye on any risks. We discuss some of our investment management techniques in our special guide for investors with $5 million or more.

Meeting Your Retirement Goals

If you engage in long-term planning frequently, you may already understand the importance of retirement planning. Retirement is the end goal for individuals that have devoted time and intense effort to growing their wealth. However, there always exists the risk of your retirement savings not being enough. This is a major concern for high net worth individuals who want to continue living a luxurious lifestyle.

A wealth manager can assist you with this using different strategies. They may recommend budgeting strategies to boost your retirement savings before you hit retirement age. The wealth manager may also advise you to invest in stable assets that provide a steady source of retirement income. Please set up a video meeting with our wealth managers to learn more about retirement planning.

Distributing Your Wealth

All high net worth investors should have a proper estate plan in place to specify how their wealth will be distributed following their passing. Leaving this wealth distribution in the hands of the court system is ill-advised, as it may result in your wealth being distributed in the wrong manner. Your children may end up receiving a different proportion than you intended. In addition to this, part of your wealth may be lost in legal fees.

A wealth manager can help you design a will that correctly describes how your wealth should be distributed. In addition to this, they may offer to help set up trusts to keep your wealth safe for the parties you intend to give it to. Learn about more wealth protection strategies by requesting a free copy of our special book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.

Managing Taxes

Ultra-high net worth individuals pay the highest taxes in the country. This is due to owning a large number of high-value assets. However, such individuals may not be aware that they can legally reduce the taxes they owe.

Wealth managers are familiar with different strategies to help investors save on their taxes. For example, they may advise them to restructure their portfolio or change their state residence to become more tax efficient.

hnw/uhnw

How Do Wealth Managers Charge Clients?

As you can see, wealth managers can help you grow your net worth and protect your wealth using a variety of strategies. You may be wondering how these professionals charge clients for their services. Wealth managers differ from normal financial advisors because they charge their clients a fixed annual fee. This is based on a percentage of their clients’ asset value.

This fee structure enables clients to utilize a wealth manager’s expertise as needed and without incurring additional charges. However, it is still important to read a wealth management firm’s terms and conditions carefully. This will ensure there are no hidden charges before signing up with the firm. You can learn about Pillar Wealth Management’s fees by setting up a video meeting with one of our wealth managers.

How to Find the Right Wealth Manager

Wealth managers are generally in a class of their own in the financial world. However, that doesn’t mean each one offers high-quality, reliable services.

You can follow the steps below to find the right wealth manager for your needs.

Consult Your Network

If you have other high net worth or ultra-high net worth individuals in your network, the chances are that some of these investors are already using wealth managers. You should consider asking around and learning which wealth management firms these individuals rely on to protect their wealth.

Research on the Internet

The next best place to search for a wealth manager is the internet. Most wealth management firms maintain a website. You can look up the various wealth managers who work for them and learn about the various services they offer.

Read Reviews

It can be difficult to gauge a wealth management firm’s quality simply by looking at their website. A good strategy is to look for reviews for the firm. You may be able to find such reviews left by their previous clients on independent review sites.

When reading these reviews, look for any red flags or indications that the wealth manager may not be reliable. The right wealth manager always keeps their clients at the top of their list of priorities and strives to offer high-quality guidance at critical moments.

Speak with the Wealth Manager

Once your wealth manager choices are down to five candidates, you should set up a meeting with each one. Speaking with a wealth manager directly is the best way to gauge their expertise. Consider telling them about your financial background and goals for the future. They will then explain their wealth management services and how they can help you.

During this meeting, pay close attention to the wealth manager’s language. The best wealth managers take details about their clients into account before offering personalized advice. If the wealth manager is simply offering generalized advice that doesn’t address your key concerns, they may not be the right wealth manager for you.

Are Wealth Managers Worth It?

Hiring a wealth manager can help you in numerous ways. These financial professionals can steer you in the right direction as you work towards your financial goals. They are experts at financial planning and can recommend a pathway that offers the greatest chance of succeeding. The benefits of hiring these professionals greatly outweigh the costs.

As an investor, you can improve your portfolio performance greatly by hiring a wealth manager. Learn about some of the portfolio management strategies we use at Pillar Wealth Management by reading our special performance guide.

Why Choose Pillar Wealth Management?

High net worth and ultra-high net worth investors should choose Pillar Wealth Management to help them with their wealth management needs. Our wealth management experts have over six decades of combined industry experience. They are familiar with the challenges that wealthy individuals face when protecting and growing their wealth. We discuss some of these challenges in our special guide for investors with $10 million or more.

Our wealth management experts take the time to understand your financial background and goals before providing advice tailored specifically for you. Please set up a free introductory video meeting with us to start working towards your financial goals.

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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