Ultra-High Net Worth Wealth Management— PillarWM

Your wealth isn’t just about money. It’s about status and more importantly, your family’s future. As an ultra-high net worth individual, you need to understand that the more wealth you accumulate, the more complex it becomes to manage. You tend to have more critical and sensitive needs, requiring an added level of support. This is where ultra-high net worth wealth management comes into play. The most effective approach to manage your ultra-high net worth is to hire a wealth manager from Pillar Wealth Management, which specializes in serving investors with $5 million to $500 million in liquid assets. If you’re a high net worth individual with wealth exceeding $10 million, our guide titled 7 Secrets to High Net Worth Investment Management, Estate, Tax, and Financial Planning will provide you with in-depth insights into how to manage your wealth.

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.

CLICK HERE to qualify for your FREE COPY of this Book

In this guide, you’ll learn what to expect from ultra-high net worth wealth management, but before that, here’s an overview about ultra-high net worth individuals and their relationship with wealth management:

Overview of Ultra-High Net Worth Individuals and Wealth Management

Ultra-high net worth individuals have personal fortunes of more than $25 million, with some of them possessing wealth higher than $500 million. Their businesses and interests often span several countries and continents, and many of them have multiple citizen ships. When it comes to managing investments, ultra-high net worth individuals adopt a world view to search for opportunities around the world, particularly in managing currency risks. If you wish to improve the performance of your existing investment portfolio, read our performance guide.

Many ultra-high net worth individuals consider income tax planning, international tax planning, estate planning, and asset protection planning to be more critical than investment management. For them, protecting their wealth and minimizing their tax burden proves more beneficial than finding new investments.

Ultra-high net worth individuals rely extensively on high-profile wealth managers and advisors to manage their enormous wealth. Many of them attained their ultra-high net worth status through high-quality wealth management services. This also answers your question, “Can you make a lot of money withwealth management?”Yes, you certainly can, given that you choose a reliable wealth management firm.

Not only do the best wealth management firms help ultra-high net worth individuals fulfill all their aforementioned needs, but they also assist in more complex global financial scenarios. For example, with an understanding of the tax regimes in various international jurisdictions, they help ultra-high net worth clients capitalize on the situation via versions of international tax arbitrage. This allows those individuals to legitimately mitigate taxes without causing any issues for themselves, their families, or their businesses.

Mitigating the impact of taxes demands a variety of strategies. Many ultra-high net worth individuals have become interested in private placement life insurance, which is seen as a function of their residence and the associated tax implications. Their success in mitigating taxes largely depends on their ability to choose the right investment professionals or,even better, wealth managers who will manage their investments in these policies.

In short, ultra-high net worth individuals widely recognize the need for state-of-the-art wealth management services to maximize and protect their wealth. To learn more about how ultra-high net worth individuals relate to wealth management, schedule a video consultation meeting with our wealth managers.

Let’s now examine what you should expect from ultra-high net worth wealth management:

What to Expect from Ultra-High Net Worth Wealth Management

Here is what ultra-high net worth wealth management entails or what you should expect from it:

Developing a Financial Plan

For anyone who wishes to accumulate enormous wealth, retain it, and protect it, financial planning is essential. This is even more important for ultra-high net worth individuals and families. A solid financial plan includes strategies for various aspects of wealth management, such as succession planning, retirement planning, estate planning, debt management, investment management, and tax planning.

For an ordinary individual, their primary income source is profit from their business or salary from their job. That isn’t usually the case with ultra-high net worth individuals, who typically have multiple income sources such as capital gains from investments, profits from the stock market, profits from several businesses, sales proceeds from real estate assets, and so on. Managing all this income in a way that helps multiply their existing wealth, keep up with their extraordinary lifestyle, and stay engaged in charitable endeavors can be a huge challenge.

Things get even more complicated when you consider your entire family. With numerous money outflows, such as education expenses, travel expenses, and lifestyle expenses of different family members, which need to be taken into account, aligning what’s going out with what’s coming in can be tough. On top of that, these actions need to be further aligned to your overall financial goals so that your accumulated wealth will continue to benefit future generations, and your reputation and financial status are maintained.

The only way to achieve all of the above is by utilizing comprehensive financial planning services offered by expert wealth managers.

Managing Investments

It only takes a single market meltdown to wipe out hundreds of millions of dollars from an ultra-high net worth individual’s investment portfolio. Many ultra-high net worth individuals make terrible decisions due to stubbornness, a lack of understanding, or simply out of fear.

For instance, when you hold on to stock options long after leaving the company, and there’s a shift in the economy or a market crisis, your company could lose most of its value. When faced with grave situations like this when your investment portfolio is not sufficiently diversified, your worth can diminish from billions to millions in a matter of months.

To have a better idea of this, study the billionaires’ list from 20 years ago. You’ll notice that about every five years, some of those who had made it to the list have dropped off. Follow up on them, and you’ll learn that they failed to make the right investment decisions, didn’t plan ahead, or chose to take financial planning into their own hands without possessing an in-depth understanding of it.

To retain your ultra-high net worth status, we strongly recommend hiring an experienced wealth manager. They will help you develop and manage a well-diversified investment portfolio with assets like equity funds, certificates of deposit, real estate, foreign stocks, and more. To learn more about our investment management services, start a video consultation with our wealth managers at your earliest convenience.

Managing Risks

Typically, when ultra-high net worth individuals invest, the risks are pretty high. To boost their wealth, they often make huge bets. The most challenging aspect here is market volatility, which can be dodged by developing a well-diversified investment portfolio.

Some of the investment options considered by the richest include equity funds, cryptocurrencies, foreign stocks, real estate, startups, and certificates of deposit. This is another critical area where ultra-high net worth wealth management helps.If you wish to boost your investment portfolio, study our guide titled 5 Critical Shifts For Maximizing Portfolio Growth Strategies —For Families Worth $5 Million To $500 Million.

In addition to investment risks, ultra-high net worth wealth management also helps minimize other types of risk, such as invasion of privacy, cybersecurity threats, breach of confidential information, and risk of lawsuits. Wealth management services can help you avoid these risks through insurance. In the case of lawsuits, for instance, a wealth manager can assist you with liability insurance, which ensures protection from outrageously high costs arising from such situations.

To safeguard you and your wealth from cyber-attacks, hacking, and theft of business or client information, wealth management services can even help you choose the right cyber security plans.

Plus, you’ll benefit from other types of insurance plans such as disability insurance, long-term care insurance, and critical illness insurance, which wealth managers can offer. To learn more about the risk management services available, schedule a video consultation meeting with our wealth managers today!

Managing Taxes

As an ultra-high net worth individual, you should be paying a lot more in taxes than lower-income groups, which is why taxes make up a significant part of an ultra-high net worth individual’s expenses. From income tax to corporation tax and estate taxes to capital gains tax, you need to deal with various tax liabilities. Without proper planning and management, you can end up with an unnecessarily high tax burden. To help you protect your hard-earned wealth, wealth managers suggest highly effective tax-saving strategies such as establishing trusts, giving in charity, and gifting.

Estate Planning

If you wish to maintain harmony and peace in your ultra-high net worth family, proper estate planning is crucial. You’ll likely have many disputable assets such as vacation homes, non-fungible tokens (NFTs), luxury cars, antiques and collectibles, and businesses, the division of which can result in feuds among family members. Estate planning assistance offered by wealth managers helps you discuss and sort out the estate with all the heirs. Knowing what each family member would like to have can greatly simplify the process.

Business succession, in particular, can be a big source of dispute among the members of the family. If you run multiple small and large businesses, the transfer of these to your family members can be a complex process.

In some cases, business ownership might be transferred to someone in the family or to an external entity like a business partner, shareholder, or even an employee. Reaching an agreement is incredibly important. Even if a single member disagrees with a decision and chooses to contest the person’s will in court, the process will be highly time-consuming and more complex.

To avoid such issues, it’s best to engage reliable wealth management services that will make the estate planning process seamless. So, your next question should be, “Which wealth management firm is best?” To ensure that you choose an experienced wealth manager, study our guide titled the Ultimate Guide to Choosing the Best Financial Advisor for Families worth $5 Million to $500 Million.

Conclusion

As they say, taxes and death are the two most annoying realities of life. For ultra-high net worth individuals, those issues are of particular concern. And then, there are some major life events that are to be dealt with. Ultra-high net worth wealth management serves as a one-stop solution for all those challenges.

After reading this guide, you should have obtained an in-depth idea about what ultra-high net worth wealth management entails. With high-quality wealth management services, you’ll find yourself in a much better position to maximize and retain your wealth. When looking for wealth management services, you may ask, “Should I care who the world’s largest wealth manager is?” Well, it doesn’t really matter; all you need is an experienced wealth manager. They’ll offer everything you need to boost and preserve your wealth.

For excellent financial services, reach out to Pillar Wealth Management, a high-profile wealth management firm that specializes in serving investors with $5 million to $500 million in liquid assets. To talk to a wealth manager, book a video consultation meeting today!

Authors

Hutch Ashoo

Chris Snyder

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.