Do you have concerns about how to manage your wealth as a resident of Los Angeles? If yes, then you are not alone. As a high net worth or ultra-high net worth individual, you will probably have questions about your finances, such as how to diversify your investment portfolio or protect your net worth during times of market change. You might also have multiple financial goals that might range from buying your dream vacation home in Los Angeles, investing in your lavish retirement goals, or even taking a luxury yacht. How do you achieve those goals while ensuring that you protect and even increase your wealth, especially if you have an investment portfolio of $10 million or more? Well, that’s where a wealth manager comes in, and a specific guide is available to you here.
In case you don’t know who a wealth manager is, or how to find wealth management in Los Angeles, this article will explain what they areand do, examine why you need a wealth manager, and find the perfect one in Los Angeles for your financial needs. Before we get into that, however, If your investment portfolio is worth $5 million to $500 million or more; check out our free guide, The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets. It will help you find the best wealth manager and help you build your investment portfolio.
This article was prepared and presented by Pillar Wealth Management LLC, a wealth management firm that caters to high and ultra-high net worth individuals who own assets between $5 million and $500 million. Suppose youwant to know how to manage your considerable investment portfolio. You can schedule a free, no-obligation consultation call with Chris Snyder and Hutch Ashoo, the founders of Pillar Wealth Management LLC.
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Wealth Management Services in Los Angeles
If you are an affluent investor living in Los Angeles, then you probably need wealth management services. Wealth management firms usually work with high net worth or ultra-high net worth individuals, who have between $5 million and $500 million in liquid assets.
As an affluent individual that’s a part of the top 1% or even top 0.01%, many finance professionals can help you manage your money, buy and sell securities, purchase insurance, and many other activities related to your financial life. There are even financial advisor Los Angeles who specialize in reducing your tax liability or minimizing the risk you incur on investments.
To find out more about the types of financial professionals out there, schedule a free conversation with Chris Snyder and Hutch Ashoo, the co-founders of Pillar Wealth Management LLC.
When it comes to succeeding financially in Los Angeles, you must consider several things. The first is that at every point in your life, you may require a unique financial plan. It can be challenging to decide how to achieve your financial goals, even if you are an extremely wealthy individual. This is where a wealth manager in Los Angeles comes in. A qualified and experienced wealth manager would look at your finances, compare them to your future goals, and then determine the actions you need to take to manage your wealth successfully.
Do you want to know all the details behind selecting a Los Angeles 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 Los Angeles wealth manager.
Investment Management in Los Angeles
As a resident of Los Angeles, several options are available for you to manage your investments. Let’s take a look at some of them.
Managing your Wealth Personally – Wealth Management Los Angeles
The first and most obvious method of investment management is to manage your finances and investments personally. While this is the cheapest course of action, it is also the most challenging. When you manage your wealth and investments by yourself, you won’t have to pay any advisory fees to a wealth manager in Los Angeles.
However, managing your wealth personally comes with a major disadvantage. When managing a large investment account such as that of high net worth or ultra-high net worth individual, you will need to be knowledgeable and skilled in a wide range of financial fields. To manage an investment portfolio of $10 million or more, you need to be skilled in tax planning, estate planning, insurance, investments, and many others. If this is you, we have a guide specifically tailored to you here.
Gaining sufficient mastery of this field to manage your resources requires extensive time and effort, which, unfortunately, most people do not have. This is why working with a financial professional, such as a wealth manager in Los Angeles, is an excellent idea. A skilled wealth manager has training and expertise in all the fields mentioned above, which means that you can expect professional advice on various areas of your financial life when you work with them. If you would like to know more about choosing a wealth manager in Los Angeles, the team at Pillar Wealth LLC has created this indispensable resource. Get 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 best wealth manager in Los Angeles.
If you want to work with a professional financial service provider, the first and easiest choice is to use a financial planner. The job of a financial planner is to work with you to develop a holistic financial plan to achieve your investment goals. This plan will guide how you save, invest, and spend for a predetermined period. The process of achieving your investment goals will include several steps such as figuring out the best investments that will help you reach your goals, manage your tax liability, and using insurance products so as to secure your financial future and generational wealth. A financial planner will take into consideration all your financial goals while building an investment plan that will help you succeed.
While having a financial plan is a good first step, you’ll face several wealth management issues if you choose to work with a company that offers only financial planning services. First, financial planners are more likely to give general financial advice. They might not know about specific investments and securities that you may need as a high net worth individual. Secondly, most financial planners cannot help you implement your plan by purchasing the investments that your financial plan dictates that you need. Instead, you will have to work with a stockbroker or another financial professional to purchase the stocks, bonds, and other securities outlined in your plan. If you want to improve your portfolio performance, then get a copy of our guide, 5 Critical Shifts For Maximizing PortfolioGrowth Strategies For Families Worth $5 million to $500 million. This guide will show you the shifts that your investment portfolio must go through to grow.
An investment broker is a financial professional that can help with wealth management in Los Angeles. Their major duty is to help their clients manage their investment portfolios. They’re knowledgeable about the investments that will help achieve your investment goals, both in the short and long-term, and can help you purchase investment vehicles such as stocks, bonds, and securities to meet your financial goals. As you probably know, investing is one of the best ways of increasing your wealth, and by working with an investment broker, you can do that. There are two major issues with working with an investment broker as a high net worth or ultra-high net worth individual with assets of between $5 million to $500 million.
You’ll need the services of at least a financial planner and an investment broker to achieve your financial goals. This combination can help you build your financial plan and work towards creating an investment portfolio that will follow that plan’s guidelines. If you want more information about how to protect your wealth andinvestment portfolio, you can order for your copy of our hardcover book, The Art ofProtecting Ultra-High Net Worth Portfolios and Estates: Strategies for Families Worth$25 Million to $500 Million. Put together by the team Pillar Wealth Management LLC, itwill provide you with strategies for protecting and growing your wealth.
However, there is an inherent risk when you use more than one financial professional to manage your considerable wealth. You will have to go the extra mile to find professionals that you work well with, work well together, and still handle a large investment portfolio. If you cannot find those professionals, the whole team can break down. If you want more information on the type of financial professional that you need on your wealth management team, you can schedule a free conversation with Hutch Ashoo and Chris Snyder, the co-founders of Pillar Wealth Management LLC. They’ll help you find what kind of wealth management service in Los Angeles is the best fit for you.
Wealth Management Services for high net worth investors
Insurance agents, accountants, stockbrokers and financial planners all identify with the title “financial advisor” And to an extent, they are right because they do provide financial advisory services.However, the only financial professionals that offer a comprehensive set of services that are custom built to fit high-net-worth and ultra-high-net-worth individuals are wealth managers. It is, therefore, necessary to define what wealth management is.
A wealth manager in Los Angeles will help you manage your investment as well as follow a holistic financial plan. The role that a typical wealth manager plays will span a wide variety of financial services from banking to estate planning, investing, and even tax planning. The goal of a wealth management service is to ensure that you plan for and achieve your financial goals. You can think of them as the quarterbacks of your financial team.
Fiduciary Duty for Wealth Managers
The major reason wealth managers are suited for managing the considerable investment portfolios of affluent clients is that they are bound by fiduciary duty. Fiduciary duty means that your Los Angeles wealth manager is bound by law to provide financial and investment advice that is in your best interest. This is a significant advantage that wealth managers have over investment brokers. Investment brokers are paid on commission, which means that they get paid a percentage every time you buy or sell a security through them.
For instance, let’s assume that you want to invest in your retirement. You then explain to your investment broker that you would like to know about investments that can help you grow your investment fund. If you have the best investment broker, they will provide you with a list of the best investments that can help you achieve your goal, and of course, earn a commission on the purchase. But what if another investment provides your stockbroker with more commission, but it is not the best investment for you? Unfortunately, there is nothing that stops your investment broker from recommending the investment. As long as they suggest something that fits your need to boost your retirement savings, they are free to sell it to you. While we hope that your investment broker will be honest enough to suggest the best possible financial products for you, you can never be too sure.
This is not the case with a wealth manager in LA, as they are bound by law to
provide you with the best investment advice within the limit of their ability. You can expect your LA-based wealth manager to give you the best possible investment advice to meet your goals. If you want some more information on how to improve your portfolio performance, then get a copy of our guide, Improving Portfolio Performance: The Shifts Multi-Millionaires Must Make to Achieve Financial Security and Serenity.
Wealth management Services for Ultra-high net worth investors
With over 30 years of experience managing wealth for affluent clients, Pillar wealth Management is a wealth management firm that offers financial advisory services to affluent clients in nationally and in Los Angeles. They specialize in wealth management for families that are worth between $5 million and $500 million in liquid assets.
Contact us today to schedule your free consultation call with our co-founders Hutch Ashoo and ChrisSnyder, who will help you decide how best to protect and manage your investments.
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