Wealth Management Services

Details of High-Net-Worth Wealth Management Services

Possessing a substantial amount of wealth, preferably as liquid assets can put you in an enviable position. However, you need to manage your wealth carefully so that it is not only well protected by growing with time. Yes! You may not be equipped with those kinds of skills but simply assuming indemnity due to your millions would be foolhardy. On the contrary, it is advisable to get in touch with a reputed firm specializing in high net worth wealth management. If you are indecisive about your status, then it is important to check the following facts that relate to a high net worth individual (HNWI). 

  • You have at least $1 million as liquid financial assets
  • You are a citizen of America who has a record number of HNWIs so far.
  • You will be categorized as an ultra HNWI if you have over $ 30 million in liquid assets.

Services for high-net-worth wealth management

You are sure to have an experienced wealth manager designated to look after your wealth once you become a customer of a wealth management firm. The professional will check your assets and assess the extent of risks before devising strategies for their protection. You will thus be advised to invest, diversify your funds, and liquidate them as necessary. 

Be assured that the manager will guide you every step of the way. Everything from tax planning to insurance buying and retirement plans will be done for you. Furthermore, the expert will advise you about the potential risks and rewards in the offing before taking the right action. 

Managing your portfolio is not your responsibility alone. On the contrary, many HNWIs remain ignorant about the present status of their portfolio. It is the wealth manager who handles it from start to finish. However, the customer is informed and updated from time to time about the changes made to the portfolio. 

The most common actions taken by the wealth manager on behalf of the customer are:-

  • Financial planning
  • Expatriate financial services
  • Ensuring Income growth
  • Inheritance planning
  • Investments & real estate
  • Investing for children
  • Estate planning
  • Retirement planning
  • Risk management
  • Ensuring & Maximizing Savings
  • Tax preparation and planning

That’s not all though! As an HNWI you qualify for many services such as banking, investment, and other financial services at a reduced rate. You may also be eligible for discounts and will be invited to events and shows related to handling assets. There are many additional perks received by high-net-worth individuals as well. 

HNWIs are also eligible to invest in specific hedge funds that are usually applicable to individuals who meet certain criteria. You may also invest in private equity and venture capital funds. These are not open to the general public with limited assets. Moreover, the wealth manager may advise you to invest in real estate and other related assets to augment your wealth. 

There is no benchmark for identifying the right firm capable of providing high net worth wealth management services. It helps to check the credentials and discuss the need with the firm before going ahead and hiring its services. 

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