Wealth Advisor for Ultra High Net Worth
Wealth is the value of all the assets that a person owns. It is the accumulation of resources that are valuable and scarce. It is measured most commonly in terms of net worth. Net worth is basically assets minus liabilities. It is what’s left after you pay off all your debts. A person who successfully accumulates a large amount of net worth (e.g., high net worth individuals) is understood to be wealthy. A professional that manages the wealth of the wealthy is known as a wealth advisor or a financial advisor for ultra-wealthy individuals. Before we proceed any deeper, we wish to alert those of you with $5 million to $500 million in investable liquid assets that you may qualify for the free 70+ page book about the 7 Secrets to Financial Serenity and robust wealth management, and you can request it here.
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
There are different levels of advisory services. sometimes, it could be the management of small amounts (relating to credit cards and balances, student loans, and the rest), which is done by a Robo advisor; other times, it could be about bigger accounts like insurance, estate loans, and planning. This article will focus on how ultra-wealthy people can have their assets under management by an investment advisor. We will also look at the process it takes to do all this, how some wealth management firms perform their duties, the benefits of having your wealth, investment, insurance managed by one wealth manager, and some investment advice to ensure that we are on the same page.
Most importantly, we will talk about PillarWM, a team of advisors who had worked for several firms before they built up their own, meeting the wealthy’s needs and goals. You will find a reliable investment adviser in Hutch and Chris if that’s what you want.
Tips/criteria for Choosing a Wealth Advisor
Before you go ahead and choose an investment advisor, it would be of paramount importance to look at some of the tips and information below. You will most likely find advisers who promise mouthwatering services; look below and you will find information on the criteria to look for.
– Know your net worth and find an advisor who works with similar account sizes. Generally, if you have more than $1 million in investible assets, then a wealth manager will be a good option for you. If you have $5 million to $500 million, then talk to Hutch or Chris at Pillar Wealth Management. They bring together 60+ years of combined experience in wealth management for high net worth portfolios.
– Check the services offered by the wealth manager. Make sure that your priority areas are included in the list of services. For example, if you are passionate about philanthropy, then make sure that the wealth manager has expertise in that area in-house.
– Get information about the fee structure of their services. We believe that a fee-only model is the best one, which is what our services offer. It ensures that there are no “vested” interests. There are no commissions or kickbacks that may lead the advisor to recommend certain products that aren’t really in the client’s best interests. The incentives of the wealth manager for ultra-high net worth individuals should be completely aligned with the interests of the client.
– Study the credentials and background of the wealth/ investment advisor before you become a member of their clientele. This might sound obvious but many people don’t do this part correctly. Credentials aren’t just limited to qualifications like a CFA, MBA, or a CFP. It is about going back further and looking at the educational qualifications, the institution from which the advisor graduated, and checking LinkedIn profiles to know the career progression of the advisors.
– In order to check the track record of a wealth manager, you can get in touch with the Financial Industry Regulatory Authority (FINRA). They maintain records of any issues or actions taken against unethical wealth managers. You can cross-check any memberships to organizations or non-profits that a wealth manager claims in your meeting with him/her. After the meeting, you can go back and check with the cited organizations directly to find out if they are being honest.
– Ask the advisor about the kind of clients that they have worked with in the past. As an ultra-high net worth individual, you don’t want to work with any average advisor. You want to work with someone who has helped sell properties for celebrities and entrepreneurs, or someone who has appeared in high profile tax cases as a witness.
You want someone who understands the multiple scenarios that can unfold when dealing with a high net worth portfolio. If you have $10 million or more in liquid assets, then read this guide on choosing the best wealth manager.
How to work with Pillar Wealth Management
Now that you have a good understanding of what a wealth manager/advisor does, what the differences are between a financial advisor and a wealth advisor is, and what benefits a manager can bring for you, the next logical step is to find an experienced professional advisor for ultra-wealthy portfolios to work with. If you are wondering how to work with PillarWM Advisor, then the process is really simple. All you have to do is get in touch with Hutch or Chris and schedule your free consultation.
Hutch Ashoo and Chris Snyder are advisers who bring together more than 60 years of combined experience in providing holistic wealth management services to clients with investible assets between $5 million and $500 million. If you have $5 million or more in liquid investible assets, we will be a perfect fit. To become familiar with our philosophy, we encourage you to download our guide on choosing the best wealth manager.
PillarWM (all rights reserved) is a fiduciary. It means we are bound by law to provide advice that is in the best interests of our clients. We work on a fee-only model and are not incentivized by anyone to recommend any specific product or service for our own profit. Our advice is unbiased and we make it our goal to ensure that we not only grow your wealth but save you at least $100,000 per $10 million. We believe that saving money is like putting money in your pocket and it is as important as growing money.
Hutch Ashoo and Christopher Snyder are the expert founders of the independent, fee-only, and fiduciary wealth management firm PillarWM (all rights reserved). Hutch has been serving for years as an investment adviser along with his role as a financial manager. Getting him on a job with Chris is giving yourself a lifelong game plan that will help you achieve unmatched investment success. Contact them now for more details and information on the financial advisory services they offer. Feel free to start a conversation and have all your investments in one place.
To use the services of our advisors on issues regarding insurance, becoming a member of our clientele/network, estate planning, credit cards, and loans management, and all the other related matters, contact our customer service and a member of our team will get to you as soon as possible.
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