Are you searching for wealth management in zephyr cove? In the world we live in today, many organizations and individuals offer financial services. These services range from providing financial advice to creating financial plans and managing investment portfolios.
If you are a high net worth individual, you might be faced with the challenge of selecting a financial service provider that best suits your unique monetary needs.
If you have over $10 million to invest or looking to build an investment portfolio of around that size, then you should check out this link for investors. While it is possible to have different financial advisors for your different financial needs, that scenario is not optimal in many cases.
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Managing relationships between an accountant, a banker, an insurance agent, and several other professionals that would be on your financial management team would not be easy and can negatively impact your finances.
A simple solution then would be to hire a financial advisor that can cover every aspect of your financial life. This is where a wealth manager in Zephyr Cove comes in.
In this article, we’ll examine who a wealth manager is and why you should work with one.
Here is how to find a wealth manager in Zephyr Cove that understands your unique needs. As wealth advisors that work with clients who have $5 million to $500 million to invest, our firm Pillar Wealth Management, LLC., understands the needs of affluent clients like yourself.
Who is a Wealth Manager?
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, wealth managers generally offer a comprehensive set of services that are custom built to fit high-net-worth and ultra-high-net-worth individuals. It is, therefore, necessary to define what wealth management is.
A wealth manager in Zephyr Cove 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, generational wealth execution, 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.
As a high-net-worth individual, you have diverse financial needs and will thus require different services from the average individual. Managing your own wealth will take an extensive amount of knowledge as well as valuable time.
You would have to specialize in investment strategies, insurance options, estate planning, tax liability, and many other financial services that are almost impossible for you to know without extensive training.
With a wealth management firm, however, you have access to some of the best professionals in the financial industry that understand how best to grow your wealth, protect it and pass it on to future generations.
When you have anything from $5 million to $200 million in liquid assets, it’s important to get specialists to manage your wealth.
Wealth Management Firm in Zephyr Cove
The average financial advisor does not focus exclusively on high net worth individuals and simply does not have the required skills to manage such a large portfolio. Also, they cannot establish a complex financial plan that will meet all your unique needs.
This is because large accounts require more work, time, and expertise that only a specialist can have, therefore, it is best to turn to a wealth management firm in Zephyr Cove to provide the services that you need.
Are you ready to find the Zephyr Cove wealth management firm that can meet all your financial needs? If you have a portfolio with $5 million to $500 million that you need to manage, it is time to speak with Pillar Wealth Management, LLC.
Our company co-founders Hutch Ashoo and Chris Snyder are currently offering free consultations to affluent individuals that need professional wealth management services.
How about an Investment Broker?
Arguably the most popular type of financial advisor is an investment broker. Also known as a stockbroker, they are knowledgeable about investment solutions that can help you achieve your financial goals, both short- and long-term.
Working with an investment broker may help you create an investment portfolio that can achieve specific goals. However, there are some risks when it comes to working with an investment broker. Here’s what you need to know.
The major reason why it is best to work with a wealth manager is because stockbrokers earn their income by commission. This means that they are paid whenever you buy or sell a security.
On the surface, this does not seem to be an issue, but they can be a conflict of interest when your stockbroker suggests financial products to you.
For example, assuming you are preparing for retirement, and you tell your stockbroker that you would like to know about mutual funds to invest in so as to grow your retirement savings. A good stockbroker will suggest the best fund for you to invest in that will provide you with expected results.
However, if there is another mutual fund that can provide your stockbroker with a larger commission, then they may suggest that one to you even though it might not be in your best interest.
As you can see this can be quite dangerous to your financial health, especially if you run a large investment account. While a 5% difference in profits might be negligible on a $20,000 investment account, it becomes much more significant in an investment portfolio of $5 million or more
Unfortunately, nothing stops your investment broker from doing this. As long as what your broker suggests fits in with the broad spectrum of what you requested, they can tell you the benefits of buying anything that is retirement-related. Basically, you have to hope that your broker would put your interests first.
On the other hand, a wealth manager in Zephyr Cove is mandated by law to provide you with the best possible investment advice that is in your favor, as they are bound to a “fiduciary duty” to you by law.
This means that you can rest, assured that any advice you receive from your wealth manager is the best possible one that they can give, and is completely in your best interest.
It should not be a challenge to find a great financial advisor. Receive your free guide, The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets and learn what to look for in your next financial advisor.