The Complete Guide to What We Do
Effective wealth management strategies are essential for high net worth and ultra-high net worth individuals. At Pillar Wealth Management, we offer a range of private wealth management services for clients who have liquid investable assets between $5 million and $500 million. Based on our extensive experience in the industry, we believe that we are one of the best private wealth management firms you can opt for. We strongly recommend investors who have $10 million or more to read our special guide and learn more about asset allocation techniques.
Table of Contents
What Does A Private Wealth Manager Do?
If you’re a high net worth or an ultra-high net worth individual, you must be thinking, “What does a private wealth manager do?” Well then, here’s the answer to your question! The private wealth managers at Pillar Wealth Management offer a range of financial services, including investment planning, retirement planning, risk management, etc. Our private wealth managers have more than 60 years of experience helping investors who have liquid investable assets valued between $5 million and $500 million.
Services Offered by a Private Wealth Manager
Our wealth managers have a track record of more than 30 years in assisting high net worth and ultra-high net worth individuals. At Pillar Wealth Management, our private wealth managersprovideservices in the following areas:
- Estate Planning
- Retirement Planning
- Investment Management
- Tax Management
- Risk Management
Several high net worth and ultra-high net worth individuals do not worry too much about estate planning. Similarly, you might think that they can take care of it once you grow older. Unfortunately, you need to know that the risk of having an early death is always present. The recent COVID-19 pandemic has shown just how unpredictable life is.
Thus, we highly recommend that you handle estate planning as soon as you can. If you don’t take up this task, you can compromise your spouse and children’s financial welfare.
At Pillar Wealth Management, our private wealth managers can assist you in estate planning that encompasses several tax-saving strategies. We can offer you advice on setting up a family limited partnership, an irrevocable life insurance plan, or investing in a business where your spouse and/or children are partial owners.
Once you retire, you won’t be having an active source of income, and you will have to depend on the passive income you get from your investments.
You might prefer comfortably spending your retirement on your savings. However, you might set some new financial targets that you want to accomplish post-retirement. Whichever route you want to take, our private wealth managers have plenty of experience to assist you.
We will comprehensively study your portfolio and create a realistic and implementable plan to secure your wealth. However, if you want to grow your wealth after you retire, we can even help you out with that. Read this comprehensive guide to know more about the critical shifts you need to maximize portfolio growth strategies.
If you’re an investor who wants to maximize their gains, you will have to intelligently allocate your assets. While this might sound simple, it’s actually quite challenging to implement.
Our competent private wealth managers at Pillar Wealth Management will go through your asset portfolio in-depth and devise plans to maximize your gains. With our meticulous knowledge of financial markets and how they work, we will guide you in making the optimum decision for your investment.
Plus, we know how burdensome it is to keep up with the ever-changing market trends. Thus, we strongly recommend that you let our specialized team handle this job for you! To learn more about how you can improve your portfolio’s performance, don’t forget to read this guide here.
Paying taxes is unavoidable when you make a gain on your investments or sell them at a profit. Nevertheless, there are several ways to effectively cut down on the amount of tax need to pay. Why should you pay more than what you really need to!
Our experienced team of private wealth managers will study your portfolio to identify possible tax-saving areas. Register on our website for a free consultation and learn more about the tax-saving techniques you can adopt.
With our team on board, you will no longer have to stress over delayed or missed tax payments that could cost you a lot. We will closely monitor your assets and let you know if you need to pay any taxes on them.
If you’re a high net worth or an ultra-high net worth individual who invests their assets in different markets, you need to know about the risks of doing this. For example, sudden market shifts can nullify your long -term gains in just a couple of seconds.
The good news is that you don’t need to worry too much about it! Our private wealth managers will develop plans and strategies to minimize the risk you face from such unexpected market movements. We will even go through your asset portfolio to identify assets that are at high risk. Thus, if you want to minimize the risks from your investments, our private wealth managers will help you identify the best places where you should invest. To learn more about asset allocation and risk-minimizing techniques, read our book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
How Do I Choose A Wealth Management Company?
Now that you have a detailed insight into how a private wealth manager can help you, you must be contemplating, “How do I choose a wealth management company?”
Well, here are a few things you should keep in mind when choosing a wealth management company for yourself.
Experience with High Net Worth and Ultra High Net Worth Individuals
Wealth management for clients who have liquid investable assets valued between $5 million and $500 million is significantly different from wealth management for clients with $10,000 or $100,000. So, when you’re selecting a wealth management company, you need to know that it is experienced in dealing with affluent individuals like yourself.
You might want to opt for a newly-launched wealth management company because they offer you lower rates. However, you should know that amateur private wealth managers do not know how to deal with sudden market shifts and, therefore, put your assets at risk. At Pillar Wealth Management, we have more than 60 years of experience working with high net worth and ultra-high net worth individuals. Click here to speak to our experienced wealth advisors about your wealth management needs.
Intelligent Asset Allocation
Asset allocation plays a vital role in increasing your wealth, and the way your wealth manager does this indicates how intelligent they are. Smart asset allocation won’t just help keep your costs and taxes at the minimum level, but optimum asset allocation will increase your portfolio performance.
At Pillar Wealth Management, our wealth advisors acknowledge that every client has their own investment parameters, risk tolerance, and return expectation. Thus, they factor in all these details when studying your portfolio. This allows them to give you recommendations that are aligned with your personal preferences and needs.
Fiduciary services play a key role in good wealth management. When choosing a wealth management company, make sure that it is entirely committed to assisting you in meeting your financial objectives and goals. The best wealth management company will always prioritize your interests above their own and provide you with rational and unbiased advice.
Expenses and Tax Optimization
A good private wealth advisor will help you grow your wealth by efficiently reducing any extra costs. Thus, when choosing a wealth management firm, opt for one that has a thorough knowledge of expense optimization and tax minimization strategies.
Speak Directly to Their Wealth Managers Directly
Speaking directly to the wealth managers of a private wealth management company will help you decide if you should take up their services or not. You can get contact them over the phone, through video call, or visit them physically.
You should ask several questions from these managers about the services they offer. For instance, you could ask them about their investment approaches and if they’ve previously worked with clients similar to you. Read this guide for investors with $10 million or more for additional questions to ask a wealth advisor before selecting their services.
Who Are the Best Private Wealth Management Firms?
If you’ve made up your mind to avail the services of a wealth management firm, the biggest question on your mind would be, “Who is the best wealth management firm?”
Well, there are several wealth management firms that you can choose from. Some of them might have a lower fee but may not have the requisite experience. Or you might want to opt for a firm that was recommended to you by a family member or a close friend. So, it’s really not that difficult finding a wealth management firm. 19
However, you need to make sure that the one you opt for is the right fit for your needs. Read our useful guide to know how you can select the right wealth management firm for your needs.Here are a few things you should consider when looking for a private wealth management firm.
The first thing you should consider when opting for a wealth management firm is the experience they have. However, several investors fail to understand the importance of choosing an experienced wealth management firm.
You should always opt for an established firm that has been in the market for plenty of years. Our wealth advisors at Pillar Wealth Management have 60+ years of experienceserving high net worth and ultra-high net worth clients. We have helped our clients succeed during challenging times, such as the 200 Financial Crisis, and are presently assisting them to get through the COVID-19 pandemic.
Along with experience, the track record of a wealth management firm is also very important. In fact, there’s no point in hiring a wealth management firm if they have a history of failing their clients.
Thanks to the Internet, you can now easily search for the best private wealth management firm. For instance, you can simply go to websites such as the Better Business Bureau and read reviews for every wealth management firm.
The testimonials from previous clients will help you better understand the benefits and drawbacks of hiring a particular private wealth management company. This way, you can decide if a wealth management company is suited to your needs or not.
The massive Wall Street firms and other major institutions are typically more concerned about their shareholders than their client’s legacy. They tend to provide standard, cookie-cutter solutions to every client that comes their way. However, you need to ensure that the wealth management firm you opt for provides you with personalized services and plans that best fit your needs.
At Pillar Wealth Management, we strive to offer personalized services to each of our clients. We ensure that we listen and understand your unique requirements before offering you financial advice.
High Net Worth Private Wealth Management
If you’re an investor who liquid investable assets valued between $5 million and $500 million, you need a wealth advisor who can manage your assets and wealth. Moreover, you could have several investment plans, estate plans, and retirement plans that you would like to implement.
This can only be done with the help of an experienced wealth manager who is well-versed in wealth management. Thus, you must hire the services of a high net worth private wealth management firm to accomplish all your financial goals.
Last Few Words
Pillar Wealth Management is a private wealth management firm. We provide several financial services to our clients to help them protect, secure and grow their wealth. Our wealth managers have a combined experience of more than 60 years and have complete knowledge about the best practices for protecting and increasing your assets and wealth. Click here and book a free consultation with one of our experienced wealth managers today.
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