Are you concerned about your portfolio and wealth? If yes, then you are not alone. You probably have questions about your finances, such as how to diversify your investment portfolio, or how to increase your income.
You might also have multiple financial goals, especially if you are a high-net-worth individual. If you have over $10 million to invest or looking to build an investment portfolio of around that size, then you should check out this link for investors.
The goals might range from buying your dream home in Belvedere Tiburon, where the average home costs about $900,000, to investing towards your retirement or even taking a luxury vacation. Not to mention, bequeathing generational wealth in the most tax efficient manner.
But how do you go about achieving those goals, while ensuring that you protect and even increase your wealth? Well, that’s where a wealth manager comes in.
In case you don’t know who a wealth manager is, this article will explain what they are and do, and would also examine why you need a wealth manager, and how to find the perfect one for your financial needs.
Here is everything that you should know about finding wealth management near Belvedere Tiburon from Pillar Wealth Management, LLC, a leading wealth management company that helps clients invest anywhere from $5 million to $500 million in liquid assets.
Table of Contents
Who is a Wealth Manager?
Simply put, a wealth manager helps you manage your wealth. They are usually used by high net worth or ultra-high net worth individuals, who have between $5 million and $500 million in liquid assets.
There are many finance professionals that can help you manage your money, buy and sell securities, purchase insurance, and so many other activities related to your financial life.
There are even financial advisors that specialize in helping you reduce your tax liability or minimize the risk you incur on investments.
However, because there are many professionals that can fit into this class, the services provided by most of these professionals are general, not specialized. This is not good enough for a high net worth individual, given they have unique needs that require the expertise of a specialist.
When it comes to succeeding financially as a resident of Belvedere Tiburon, there are several things to consider. At every point in your life, you would require a unique financial plan.
Sometimes it can be a challenge to decide how to achieve your financial goals, even if you are a wealthy individual. This is where a financial advisor Belvedere Tiburon area comes in. A qualified wealth manager would look at your finances, compare them to your goals, and then determine what actions you need to take in managing your wealth.
Do you want to know all the details behind selecting a Belvedere Tiburon wealth advisor? Our team at Pillar Wealth Management, LLC. created this valuable resource for you.
Receive your copy of The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets. It will explain the steps and considerations behind selecting the right Belvedere Tiburon wealth manager. Also, if you are planning to invest $10m+, then start here.
Defining the duties of a Wealth Manager
What financial goals have you set for yourself? Or, if you’ve set none, what are the things that you want to achieve? Look at your financial goals. Chances are you have multiple things that you want to produce financially.
For instance, you want to build your wealth as well as maintain it to old age, and then pass it on to your children, or even your grandchildren, creating generational wealth. But for all this to happen, you need to have in-depth knowledge about financial management, investing estate, tax planning insurance and so many other fields.
Chances are you do not have extensive knowledge on these fields. This makes it somewhat risky for you to manage your finances on your own – this is where a financial advisor in the Belvedere Tiburon area can help. Upon your first meeting with a wealth manager in Belvedere Tiburon, you will discuss your financial goals and all the things that you want to achieve.
With this valuable information, the wealth advisor will then formulate a holistic plan that will cover all the aspects of your plan. The plan will show which of your goals are realistic and easily achievable, and which one you would have to compromise on.
This plan would also be extremely effective, ensuring that all unnecessary expenditure, such as excessive taxes, are cut off. This is important as the savings that you will make from having your finances properly managed will likely offset whatever fees or commissions you have to pay the wealth manager.
Are you looking to improve your investment performance? Our team at Pillar Wealth Management, LLC., created this resource for affluent clients, titled Improving Portfolio Performance: The Shifts Multi-Millionaires Must Make to Achieve Financial Security and Serenity. It is an excellent resource for those who would like to learn what other multi-millionaires are currently doing to grow and maintain their wealth.
Financial Planners and Investment Brokers
A wealth manager combines the work of financial planners and investment brokers. What sets them apart, however, is that they are employed by companies known as Registered Investment Advisor (RIA).
For any business to become an RIA, the owner would have to first complete an exam and then register the company with the state government or the Security and Exchange Commission. Once the RIA is in place, the company must follow some specific guidelines, the mo
st important of which is known as “fiduciary duty.”
Fiduciary duty refers to the responsibility of the company and your wealth advisor to act within your best interest rather than their own. This is important because wealth advisors often manage the entire investment portfolios of their clients.
This often makes them responsible for multimillion-dollar investing accounts. As a result of this responsibility, the adviser must act within the best interest of the client whenever suggesting, buying, or selling a financial product or investment vehicle.
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