Private Wealth Management Firm For Investors – PillarWM
Managing wealth can be a tricky task for just about anybody. However, it is far more challenging for those with a high net worth or an ultra-high net worth. Luckily, you can always use the services of a private wealth management firm to make this task much easier. Investors that own between $5 million and $500 million in liquid investment assets should turn to Pillar Wealth Management for premier wealth management services. You can learn about some of our wealth management strategies in our special guide for investors with $10 million or more.
STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION
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.
Table of Contents
What is a Private Wealth Management Firm?
If you have never sought out wealth management services before, you may be wondering what a private wealth management firm is. These are businesses that provide professional services related to investment and wealth management. Please set up a free meeting with one of our wealth management experts to learn about the full range of services we provide.
So what does a private wealth management firm do? Some of the services these firms provide include:
• Investment Management
• Retirement Planning
• Estate Planning
• Tax Planning
Let’s look at each of these services in more detail.
One of the most important services that both high net worth and ultra-high net worth investors can benefit from is investment management. Anyone that has built up their portfolio from scratch will tell you that it becomes more difficult to keep track of investments as time goes on. A larger portfolio may yield greater profits, but it also comes at the expense of additional management effort.
For this reason, you should allow a wealth manager to manage your investments for you. This financial expert can offer regular updates regarding your portfolio performance and recommend new investments that are in line with your future goals. You can learn about some great investment strategies in our portfolio growth strategies guide.
Retirement planning is another useful service that everyone needs at some point. If you intend to retire in the next few years or in the next decade, it is vital to have a proper retirement plan in place beforehand.
This plan can help you set up income sources to ensure you can live through your retirement comfortably and without worrying about your savings depleting. A wealth manager can also help you improve your portfolio performance in the time leading up to your retirement. Please read about some of our portfolio performance improvement strategies in our special guide.
Estate planning is another essential service that can greatly benefit wealthy investors. This service is useful for creating a will and planning how your wealth will be distributed following your passing.
A robust estate plan can help ensure your wealth is passed onto the right people or institutions and with minimal taxes or legal charges.
It could be said that wealthy investors pay some of the highest taxes in the country. This is a consequence of owning multiple high-value assets. However, a wealth manager can help minimize the amount of taxes you owe by restructuring your portfolio and making it more tax efficient. This way, you can continue expanding your portfolio without worrying about paying sky-high taxes annually.
Why Choose Wealth Management Over Financial Advisory
The aforementioned services should be useful for any investor with $5 million to $500 million in liquid investment assets. However, you can also receive some of these services from various financial advisors in the country.
So why choose a wealth manager over a financial advisor? Some reasons include:
Receiving Services From a Single Professional
Every time you seek out services from a financial advisor, you will need to take the time to explain your financial background and future goals to them. This process can get tedious if you are seeking a different service from each advisor.
A wealth manager provides multiple services and can take care of all your needs. Once they understand who you are and your future goals, they can tailor each of their services to help you meet these goals. This saves time, which can then be spent on other wealth-building activities. Please contact our wealth managers to learn about our full range of services.
Experience With Wealthy Investors
Wealth managers stand out from ordinary financial advisors because they cater primarily to wealthy individuals that have a high net worth or an ultra-high net worth. For example, at Pillar Wealth Management, we take on clients with $5 million to $500 million in liquid investment assets.
Each of our wealth managers possesses extensive experience with wealthy investors. They have spent many years crafting financial plans to help them meet their goals. This is in contrast to ordinary financial advisors who cater to clients of any net worth.
Wealth managers also differ from ordinary financial advisors in terms of fees. At Pillar Wealth Management, we charge clients a fixed annual fee that is based on a percentage of their asset value. Ordinary financial advisors, on the other hand, may charge clients on an hourly basis or each time their services are used.
This means you can reach out to a wealth manager for assistance as often as needed without incurring additional charges.
Should You Meet With a Private Wealth Management Firm?
After reading about the various benefits of using a wealth manager, you may be wondering, “should I meet with a private wealth management firm?” The answer is yes.
Meeting with a private wealth management firm is helpful in many ways. This includes:
Getting a Better Understanding of Your Finances
If you earn income via multiple sources such as businesses and investments, you might not have a full understanding of your financial position. A wealth manager can study your finances in greater detail and provide a clearer picture of where you stand.
This understanding is vital as it will help you chart out a plan to meet your short-term and long-term financial goals. Please set up a free meeting with one of our wealth managers to take better control of your finances.
Custom Financial Plans
A great wealth manager can also create custom financial plans that are in-line with your unique needs and goals. However, to do this, they must become familiar with your background and your future plans.
Custom financial plans are great because they can be tailored to fit your exact needs. If you have a limited understanding of your finances and investment strategies, a wealth manager can help you achieve your goals using a simple and easy-to-follow plan. We discuss the importance of financial planning for protecting wealth in our book The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
How to Find a Private Wealth Management Firm
Once you have made the decision to use private wealth management services, you may be wondering, “how do I find a private wealth management firm?”. Finding wealth management firms and then choosing the right one can be tricky. However, we recommend using the following steps in your search.
The best place to look up private wealth management firms in your area is the internet. You should be able to find numerous firms offering these services using a simple Google search.
We recommend drawing up a list of five possible firms before narrowing down your choices from there.
2.Consult Your Network
If you are a wealthy investor, your network may be full of other professionals that are currently using wealth management services. You should reach out to these professionals and ask them if they recommend their current wealth manager. This approach can be especially useful if the person you are asking has a similar financial background or the same financial goals as you do.
It is vital to choose a private wealth management firm that is reliable and trustworthy. After all, these professionals will help you manage your wealth and chart out your future goals. A great way to narrow down your picks and choose a suitable private wealth management firm is to read reviews for them online.
Look for reviews left by past clients that used the same services you were seeking. If possible, you should get in touch with these past clients directly and ask about their experience with the firm.
4.Meet With the Private Wealth Management Firm
Once you are confident about the wealth management firm, you can go meet with their wealth managers in-person or over a video call. This meeting will allow you to learn more about the services they offer and the types of clients they are used to dealing with. You can learn some great questions to ask the wealth manager in our guide to selecting a financial advisor.
Why Choose Pillar Wealth Management
You may find many different private wealth management firms during your search. However, you won’t find a firm that offers the quality of services and personalization we provide at Pillar Wealth Management. We have served numerous wealthy investors across the country and welcome new clients.
Individuals with $5 million to $500 million in liquid investment assets choose our services for many reasons. This includes:
Much of the knowledge wealth managers gain is through experience. You can read up on various investment or financial planning strategies, but the truth is that the best advice usually comes from professionals who have put in the effort time and time again.
At Pillar Wealth Management, we have over six decades of experience serving high net worth and ultra-high net worth clients. Each of these clients turned to us in their time of need, and we did our best to exceed their expectations at every turn. Each new client adds to our experience and enables us to serve future clients better.
One area where our wealth managers really shine is personalization. Over the years, we have understood that a one-size-fits-all approach does not work for many investors. After all, each one has a different financial background or goals in mind.
For this reason, we offer each client personalized plans that fit with their understanding of finance. You can carry out advanced investment strategies without possessing in-depth knowledge of investment by using our help. You can learn about some of these strategies in our special guide for investors with $10 million or more.
Before using our services, we inform each client about our pricing structure. We charge a simple annual fee based on the value of your assets. We chose this pricing structure because it encourages you to reach out to us for assistance as often as you need to. After all, why bother hiring a wealth manager if you can’t use their services during your time of need?
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