Wealth Management Des Moines:
The Complete Guide to What We Do
High net worth as well as ultra-high net worth individuals are known to invest their wealth in numerous assets. This can be an excellent strategy for keeping your wealth safe and helping it grow. However, performing smart investments requires in-depth knowledge of wealth management. Des Moines residents with $5 million to $500 million in liquid investment assets should seek out the services of Pillar Wealth Management Des Moines if they wish to protect their wealth for the future. Investors with $10 million or more can learn about asset allocation using our special guide.
What Is Wealth Management Des Moines?
Managing your wealth can be challenging for people without an in-depth understanding of finance and investments. Many high net worth and ultra-high net worth individuals turn to financial advisors for help regarding these matters. We discuss the steps for choosing the right financial advisor in our special guide.
At Pillar Wealth Management, we define wealth management Des Moines as a collection of services for protecting your wealth and helping it grow. These are important goals for any investor, and we strive to help you achieve them.
We offer services including:
- Cash Flow Planning
- Wealth Transfer
- Risk Management
- Estate Planning
- Insurance Planning
- Tax Planning
- Asset Allocation Analysis
Cash Flow Planning
One of the fundamental pillars of financial planning is cash flow management. Wealth passes through the hands of high net worth and ultra-high net worth individuals on a regular basis. However, if you aren’t tracking the rates at which you are accumulating and spending wealth, you may not know which direction your finances are headed in.
Our cash flow planning services assist clients in identifying their cash flow sources and sinks. We do this by studying your income sources, expenditures, assets, and liabilities. Our experts then create a cash flow plan to help you visualize your finances in an easy-to-follow manner.
It’s not uncommon for investors to transfer a portion of their wealth to their children after a certain age. This practice may seem straightforward; however, there are many considerations and hidden risks that should be taken into account beforehand.
If your wealth is tied up within your business, you may consider transferring ownership of your company to your children. However, you will need to formulate a proper exit strategy to ensure that the business runs smoothly following your departure.
At Pillar Wealth Management, our wealth managers can help create a transference plan that ensures your business remains in the right hands. Schedule a free consultation at our website to learn more about wealth strategies.
High net worth and ultra-high net worth individuals that invest in assets from various markets are exposed to numerous risks. Market trends often take a turn without warning and can undo long-term gains in an instant. It is often challenging to determine when a particular market is going to fall. However, we can assist you in creating strategies to minimize the damage from such market events.
Our experts can study your portfolio and point out assets that are at risk. They can also offer advice to help you break away from the trend of being a “conservative” or an “aggressive” risk-taker. We discuss why risk tolerance shouldn’t be the main deciding factor in your investment strategy in our guide for investors with $10 million or more.
If you seek to diversify your assets, we can help you choose the right places to invest. This approach may provide better gains and safety when compared with selecting investments randomly across different markets. You can learn more about asset allocation approaches in our book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
Young and middle-aged high net worth and ultra-high net worth individuals may not be concerned about estate planning, as they often feel it should be taken care of later in life. However, the possibility of meeting an early demise always exists. The recent pandemic has demonstrated just how fragile human life can be.
For this reason, you should address estate planning sooner rather than later. Otherwise, you may be risking the financial well-being of your spouse and beneficiaries.
Our wealth managers can help you create an estate plan that incorporates various tax-efficient strategies. This includes offering advice on setting up a family limited partnership, an irrevocable life insurance trust, or investing in a business where your heirs are part-owners.
Taking care of their own wellbeing should be a top priority for every investor. However, unexpected life events and tragedies do happen. These events turn your life upside down and prevent you from attaining the financial security you have always dreamed of.
Many high net worth and ultra-high net worth individuals take out life insurance, long-term care insurance, and disability insurance to safeguard their finances during a tragedy. However, choosing the right plans can be tricky.
Insurance companies are skilled at convincing individuals to sign up for plans they do not require or plans that offer less coverage than initially advertised. Our insurance planning services can help you make the right choices and ensure you are covered in all situations.
Most investors are already familiar with the various taxes they must pay when they make gains or when they sell their investments at a profit. Paying these taxes can seem unavoidable. However, there are many strategies to minimize the amount you need to pay.
Our experts can look over your portfolio in detail and identify different areas where you could make tax savings. Why pay more taxes than absolutely you need to?
Asset Allocation Analysis
Allocating your assets in the right places is a skill that takes experience to develop. Many investors will make mistakes during the learning process. However, through trial and error, they eventually learn the dos and don’ts of investment.
You can bypass this learning process with the help of our asset allocation analysis services. At Pillar Wealth Management, we understand that each investor has a unique risk tolerance, return expectation, and investment parameters.
Our wealth managers take these factors into account when studying your portfolio. They then offer recommendations based on your unique needs and preferences. We view each asset in the context of your portfolio and can formulate plans to help you meet your portfolio goals.
Wealth Manager vs. Financial Advisor
High net worth and ultra-high net worth investors who are new to the world of wealth management may be confused about the differences between a wealth manager and a financial advisor. During your first glance, you might assume they are the same. However, after taking a closer look, you should notice significant differences between the two.
Before discussing the differences between the two, we should acknowledge that a wealth manager is a type of financial advisor. Both of these professionals deal with aspects of financial planning. However, wealth managers provide a much more comprehensive range of services compared to ordinary financial advisors. So what does a wealth manager do that a financial advisor cannot do?
A wealth manager will manage your money instead of allocating this duty to a fund manager. They also provide services related to tax planning, estate planning, and insurance.
Financial advisors will take on clients of any net worth. This makes them easy for ordinary people, such as students or small business owners to approach. By contrast, wealth managers take on only those clients that have a high net worth or ultra-high net worth.
For example, at Pillar Wealth management, we offer services to clients with $5 million to 500 million in liquid investment assets. This means we have more experience dealing with individuals with high-value assets compared to ordinary financial advisors.
This experience makes our wealth managers uniquely suited for providing advice and creating plans to safeguard investments and grow your wealth. We discuss some of these portfolio growth strategies in our special guide.
Level of Contact
People usually approach financial advisors before making a huge financial decision that will impact them. However, it’s rare for a financial advisor to maintain frequent contact with their clients. They may help create a financial plan for them and check back a few times a year.
By contrast, wealth managers are there to serve clients at every turn. When we create a financial plan for you, we help guide you along the execution process. This is to ensure that you can follow through with it.
In addition to this, clients can approach our wealth managers for any financial decision they need to make, no matter how small. We understand that seemingly small decisions can significantly impact your portfolio and the safety of your wealth. For this reason, we encourage our wealth managers to maintain frequent contact with clients and vice-versa.
Financial advisors often charge their clients a fee each time they consult with them. However, for this reason, clients may feel discouraged from reaching out to their financial advisors for advice.
At Pillar Wealth Management, we charge clients a fixed annual fee. This is to ensure that they feel welcome using our services whenever they need to. Our prices are transparent, and you can rest assured that you won’t be paying any hidden fees.
Is a Wealth Manager Worth It?
If you are a Des Moines resident with a high net worth or an ultra-high net worth, you may be wondering, “is a wealth manager worth it”? After all, you may be able to get each of the services mentioned above from different professionals across the finance industry.
While this is true, our wealth managers are uniquely positioned to provide advice on many different financial matters. After studying your portfolio and assessing your financial situation, each piece of advice we provide takes other aspects of your financial position into account.
We understand that certain clients may have a limited understanding of finance and investments. This is why we offer to create plans that are easy for you to follow. However, that isn’t to say we do not offer more advanced strategies for wealth management. Please read our guide to improving your portfolio performance to learn about the many advanced techniques we use to grow your wealth.
Every investor dreams of protecting their wealth and watching it grow. Perhaps you are saving up for a peaceful retirement, or maybe you want to continue investing in new assets in retirement. In either scenario, we can provide the right services to help you meet your long term goal.
If you live in Des Moines, wealth management and banking advice from our experts can help you secure a future with more incredible wealth than you could imagine. Get in touch with Pillar Wealth Management and sign up for a free consultation with one of our wealth management experts.
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