The Complete Guide to What We Do
Handling your own finances is not an easy task. In fact, if you have $5 million to $500 million worth of liquid assets, managing your own finances is almost impossible. Thus, if you belong to the high net worth or ultra-high net worth club, you might find yourself looking for a wealth planner to secure and grow your wealth. Wealth planners typically provide a range of services to affluent clients to help them achieve goals. Read our handy guide for investors with $10 million or more to know more about how a wealth planner can help attain financial serenity.
Strategies For Families Worth $25 Million To $500 Million
The Art of Protecting Ultra-High Net Worth Portfolios and Estates
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.
At Pillar Wealth Management, our wealth planners have been working with clients who have investable assets between $5 million and $500 million for over thirty years. Our vast experience allows us to understand and capitalize on market trends for improved results and higher investment returns.
In today’s blog, we’ll be discussing what wealth planners do, if their services are worth your time and time and if you actually need them.
Table of Contents
What Does A Wealth Planner Do?
If you’re new to the world of wealth planning, you might be thinking, “what does a wealth planner do?” In simple words, wealth planners provide an assortment of investment advisory and financial planning services to wealthy individuals.
Generally, a wealth planner can help you in the following areas:
- Asset Allocation Analysis
- Insurance Planning
- Estate Planning
- Risk Management
- Tax Management
- Retirement Planning
Asset Allocation Analysis
Asset allocation is one of the key investment strategies that wealthy investors can adopt to manage and grow their wealth. The primary objective of asset allocation is to strike the perfect balance between potential returns and risks. However, there’s no single method to assess the ideal asset allocation for every investor as each one has their own set of financial objectives, risk tolerance, and time horizon.
For instance, if you’re an investor with a longer time horizon, you may be comfortable investing in a more volatile or riskier investment because you can wait out the inevitable ups and downs of markets and slow economic cycles. On the other hand, if you have a shorter time horizon, you might not be willing to take up a high risk.
Thus, our wealth planners take all such details into account when analyzing your portfolio and creating a personalized asset allocation plan for you. We spend plenty of time to ensure that the strategy we develop is aligned with your needs and requirements.
Insurance planning is a vital component of creating a comprehensive financial strategy. It encompasses risk evaluation and identifying which insurance plan is best to mitigate those risks. Insurance planning aims to determine and measure the risk factors present in your life and get the ideal coverage to maintain your financial serenity in the event of an accident or a tragedy.
Many high net worth and ultra-high net worth individuals opt for Life Insurance, Long-term Insurance, and Disability Insurance to keep their wealth safe in case of any catastrophe. However, selecting the right insurance plan isn’t as simple as it sounds because the reps from insurance organizations are highly trained to persuade clients to purchase plans that fail to provide adequate coverage.
Thankfully, if you have an experienced wealth planner with you, you don’t need to worry about choosing the wrong insurance plan for yourself. Our wealth planners will help you make the right choice so that you and your wealth stay secure in every condition.
You might have certain plans regarding who will inherit your business, wealth, and assets after you pass away. These could either be your children, a charity fund, or any other beneficiary. While this procedure seems straightforward and simple on paper, in reality, it’s hurdled with several impediments such as excessive taxes. In our book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies for Families Worth $25 Million to $500 Million, we explore some of the complications associated with estate planning.
Estate planning includes identifying organizations or individuals who will take on your business, wealth and assets after you pass away. The purpose of estate planning is to make sure that your children or other beneficiaries get their inheritance in a manner that lowers taxes. Our wealth planners will develop a comprehensive estate plan for you encompassing various financial planning strategies such as life insurance, trusts, will so that your beneficiaries don’t have to send any extra money to Uncle Sam.
Risks are an inevitable part of any investment you make. Thus, if you choose to invest your wealth in a specific area, you are taking up a risk. However, the level of risk is different for each investment. For instance, US Treasury Bills are risk-free investments, whereas real-estate securities are high-risk investments.
The risk management solutions provided by our wealth planners will help you invest your wealth in a manner that minimizes any investment-related risk. It involves assessing, scrutinizing, and lowering risks that can stem from multiple causes such as natural disasters, inflation, market volatility, etc.
You might already know that you have a tax obligation if you get a high return on your investment or if you sell any of your assets at a profit. What you probably didn’t know is that there are multiple ways to successfully lower the taxes you’re required to pay.
Our wealth planners will comprehensively analyze your asset portfolio and identify areas where tax-saving is possible. You can have a meeting with any one of our wealth planners to learn more about the various techniques we use to minimize your tax obligation.
Plus, our wealth planners will also keep an eye on your investment holdings and will let you know if you have to pay any taxes on them. Thus, you no longer have to stress over delayed or missed tax payments that could result in hefty fines and can even land you in jail.
Retirement planning is an extremely crucial task that you can undertake because you won’t be actively earning money once you retire. Rather, you will have to rely on your investments’ passive income to fulfill your financial needs.
Moreover, you may have certain plans for your retirement. For instance, you might want to spend your retirement with your loved ones peacefully in your country home. Or you might set some new financial goals for your post-retirement life. Whatever you wish to do, our wealth planners have decades of experience to help you achieve your retirement goals.
We will develop a thorough retirement plan so that you have access to a steady income stream even after your retirement. Or if you have any post-retirement financial targets, we can help you attain them too! Don’t forget to read our special guide, where we discuss the five crucial shifts you need to make to enhance portfolio growth strategies.
Are Wealth Planners Worth It?
Now that you know the details of what a wealth planner does, you might be wondering, are wealth planners worth it? Surprisingly this is a question that several high net worth and ultra-high net worth individuals such as yourself ask themselves. Because at the end of the day you can get each of the services listed above from different professionals such as financial and investment advisors.
While we don’t reject this argument, we want to let you know that at Pillar Wealth Management, our wealth planners have the knowledge and skill to assist you on multiple financial matters. We analyze your portfolio, study your finances, and give you suggestions that encompasseach aspect of your financial situation.
We are aware that certain high net worth and ultra-high net worth individuals don’t have a holistic knowledge of market movements and investment opportunities. This is why we provide you with wealth plans that you can easily implement. In this guide, we discuss in detail why you don’t need to understand finance before choosing a wealth planner.
Do I Need A Wealth Planner?
If you’re still contemplating, “do I need a wealth planner?” then do read some additional advantages of hiring a wealth planner.
Tailored Financial Plans
Unlike the massive Wall Street companies and other major investment companies that offer the same cookie-cutter solution to every client, our wealth planners will create tailored wealth strategies for you. In fact, this year, we only accepted 17 new clients so that we can get a thorough understanding of each client’s financial goals and their ambitions in life. This way, we can devise personalized wealth plans for each high net worth and ultra-high net worth client to help them achieve their goals in the best possible manner.
Here again, we’d like to use the example of massive Wall Street organizations and other major investment companies who are the jack of all trades and master of none when it comes to wealth planning services. However, our expert wealth planners have comprehensive knowledge of wealth planning and really know what they’re doing. As experts in the field, we can properly guide you so that you can make more informed decisions.
At Pillar Wealth Management, our wealth planners have been in the industry for over three decades, so you can easily trust us for all your wealth planning needs.
Our wealth planners act as fiduciary, which means that we minimize any possible conflict of interest and are fully dedicated to helping you accomplish your targets. We ensure that we always act in your best interests, even if it isn’t in line with our own. Click here to schedule a meeting with our fiduciary wealth planners to get the best advice and guidance pertinent to wealth planning.
Managing Wealth Around Major Life Changes
Wealth planners won’t just create wealth plans for you but will also adjust them according to any major changes in your life or even the market. Whether you’re filing for a divorce or the economy is hitting a recession, expert wealth planners will know precisely what to do to secure your wealth and help you move ahead with your targets and goals. They will closely monitor the market, consistently evaluate your wealth plans’ success, and make adjustments when they’re needed. Therefore, you won’t have to stress over your finances and get the financial security you always dreamed of. You can read more on how the best wealth planners can help you in our ultimate guide for investors who have assets worth $10 million or more.
High Net Worth Wealth Planners
If you’re an individual who has investable assets valued between $5 million and $25 million, you should hire a wealth planner. Our high net worth wealth planners at Pillar Wealth Management will help you secure, manage, and even increase your wealth.
Moreover, you may have several investment, retirement or estate plans you would like to implement. If you want to turn your plans into reality effectively, an experienced wealth planner who knows the ins and outs of wealth planning can surely help you out. We strongly recommend you read our special guide on choosing the best high net worth wealth planner for yourself.
If you don’t feel comfortable managing your wealth on your own, you should speak to a wealth planner. Given their knowledge, skills, expertise, and experience, a wealth planner can efficiently handle your assets and wealth.
Pillar Wealth Management is a firm that provides holistic wealth management services. We are dedicated to providing fiduciary services to the high net worth and ultra-high net worth individuals who come our way.
However, we aren’t just restricted to wealth planning. Rather, our services’ list includes portfolio design, liquidity management, balance sheet optimization as well. Click here to schedule a meeting with one of our wealth planners today. It’s absolutely free, so you really have nothing to lose!
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