It’s not easy to commit to anything. But it’s especially hard to commit to working with a wealth manager who will design and manage your portfolio and play a key role in your family’s happiness and financial security, possibly for generations. To help you find the best Zephyr Cove wealth management company that can deliver what we call ‘financial serenity,’ we urge you to get this best-in-class guide written for those with $10 million or more, The Ultimate Guide to Choosing the Best Financial Advisor. As for us, Pillar Wealth Management works only with families and individuals who have $5 million to $500 million in liquid investable assets.
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 financial and lifestyle desires.
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While it is possible to have different financial advisors for your different financial needs, that scenario is not optimal in many cases.
Managing relationships between an accountant, a banker, an insurance agent, and several other professionals that would be on your financial management team becomes a another time-draining task in itself. Plus, none of them possess the expertise to direct and focus the group on the core priority of securing your finances and protecting your wealth.
The simplest solution would be to hire a financial advisor that can plan for and direct 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 would want work with one.
What 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 highnetworth and ultra-highnetworth individuals. So, let’s define what wealth management is.
A wealth manager in Zephyr Cove will help you manage your investments as well as follow a holistic financial plan to help you succeed in fulfilling all your greatest lifestyle dreams and desires.
The role that a typical wealth manager plays will span a wide variety of financial services including banking, estate planning, investing, generational wealth execution, and even tax planning.You can think of them as the quarterback of your financial team.
As a highnetworth 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 gain and continually update your knowledge in investment strategies and all the skillsets listed earlier, all of which require extensive training for the pros.
With a wealth management firm, however, you have access to some of the best professionals in the financial industry who understand how best to grow your wealth, protect it and pass it on to future generations. We are so passionate about this topic that we made it the centerpiece of our signature written work – The Art of Protecting Ultra-High Net Worth Portfolios and Estates: Strategies for Families Worth $25 Million to $500 Million. If you are looking to commit to securing your financial future and want to know more, request a complimentary copy by clicking the link above.
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 and diverse portfolio. Also, they cannot establish a complexand customized 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.You’ll get the best outcomes if you look for a wealth management firm in Zephyr Cove to provide the services that you want.
You are encouraged to do your research, because this decision is one of the most important of your entire life.
As co-founders of Pillar Wealth Management, we hope you will choose to speak with us as part of that research. You will likely find your experience with us and our customized planning process to be unlike anything else out there. That’s because we are fully committed to the success and lifelong happiness and well-being of our clients.
Protecting your wealth is what wakes us up in the morning. See our proprietary wealth protection process.
Our company co-founders Hutch Ashoo and Chris Snyder are currently offering free consultations to affluent individuals who want 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 this inevitably leads to conflicts of interest when your stockbroker suggests financial products to you.
For example, suppose 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.
A More Secure and Profitable Path
That simple example illuminates something even more important: To find the best financial advisor in Zephyr Cove will require a shift in your thinking around the issue of investment performance. Performance is much more than just a percentage. We strongly recommend this free guide,Improving Portfolio Performance: The Shifts Multi-Millionaires Must Make to Achieve Financial Security and Serenity.
Unfortunately, nothing stops your investment broker from doing this. It is legal. 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 who is mandated by law to provide you with the best possible investment advice that is in your favor is one who is bound to the “fiduciary standard.”
This means that you can rest assured that any advice you receive from your wealth manager is completely in your best interest. And for Pillar, we even apply this standard to the very core of the investment planning process we have developed and perfected over three decades.
Our entire process is built around the lifelong achievement of your best interests. We know of no other wealth manager who takes the fiduciary standard to this extreme level of commitment.
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.
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