Disclaimer: The information in this article is NOT financial advice and is for informational purposes only. Always do your own research and be sure to speak to a registered financial advisor before making any important financial decisions.
Choosing a financial advisor that specializes in private wealth management is one of the most important decisions an individual can make.
A good wealth management advisor can help you grow and protect your money for retirement.
But with so many investment advisors to choose from, how can you be sure you’re making the right choice?
In this article, we’ll share some options for you to explore based on wealth managers:
Keep in mind that before working with a wealth manager it’s important always to do your own due diligence, have multiple meetings to get to know them and be sure to check them out on BrokerCheck.org by Finra.
What is private wealth management?
Private wealth management is an essential service for high net worth individuals and families who have at least $100,000 in investable assets.
By working with a qualified wealth manager, clients can benefit from a coordinated and customized approach to managing their financial life.
Wealth managers can help clients:
- Save money on taxes
- Invest in a prudent manner
- Plan for their future
- Increase their wealth in retirement
- Protect their wealth in retirement
- Minimize Taxes
In order to provide the best possible service, wealth managers typically require a significant amount of information from their clients.
This includes detailed information about income, assets, liabilities, and investment goals. Privacy is of utmost importance to high-net-worth individuals, and most wealth managers take great care to protect the confidentiality of their client’s information.
Top Private Wealth Management Firms & Advisors (Summary)
If you’re short on time, here is a list of the top 5 private wealth management firms we recommend you explore further:
- DBG Capital Advisors (best overall)
- Rockford Retirement Planning (best for insurance)
- Peak Financial Planning (best for retirement planning)
- Breslow Financial (best for private investment opportunities)
- Concierge Wealth Planning Solutions (best for minimizing taxes)
Who are the top private wealth management firms?
The word “Best” is subjective, so we recommend you interview and find an advisor that matches your personality and goals in retirement.
Tip: Consider working with an independent financial advisor. An independent advisor is not tied to using services or products of one firm over another. They can recommend the products and retirement services for your unique situation (that may be a better fit) even if they are from another financial firm they don’t work for. That’s why the wealth maangement firms on this list are smaller companies (not your typical banks or larger financial institutions).
Here are some of the top independent private wealth management firms you can explore further:
1. DBG Capital Advisors
DBG Capital Advisors is a wealth management firm owned by Don Giello. Don is a private wealth management advisor that focuses solely on both growing and protecting your wealth in the stock market.
With over 20+ years of experience, Don has a proven track record of helping clients protect their portfolios when the markets go down and increase their wealth when the markets go up.
DBG Capital Advisors have a unique process for growing & protecting your wealth using a combination of market signals and market research.
We recommend watching their free educational video to learn more about how to protect & grow your wealth in retirement.
2. Rockford Retirement Planning
Rockford Retirement Planning is an independent holistic financial advisor that specializes in insurance services, such as annuities or universal life insurance when it makes sense for the individual.
3. Peak Financial Planning
Peak Financial Planning help you with planning for retirement so that you can increase your income and avoid running out of money.
Their fees are transparent and clear and their process is comprehensive. They leave no aspect of your retirement left out.
4. Breslow Financial Planning
Breslow Financial Planning are independent financial advisors that provide you with guaranteed rates of returns through private investment opportunities and they only charge you if you make money. In other words, they only make money when you do which is one of its best unique selling points.
5. Concierge Wealth Planning Solutions
concierge Wealth Planning Solutions are a private wealth management firm that specializes in multiple aspects of retirement planning. They can help you with wealth management, insurance, retirement planning and more.
One of the unique things that make Concierge Wealth Planning Solutions different is that they also have specific tax saving strategies for retirement to help you avoid overpaying in taxes.
Click here to watch a video that explains the Concierge Wealth Planning process
How to choose the right wealth management firm?
The best private wealth management firm are firms that have individual private wealth managers who have a long history of success and a proven track record of helping clients reach their financial goals.
They offer comprehensive services that include investment planning, retirement planning, and estate planning.
And they take the time to get to know their clients, understanding their unique needs and preferences.
What types of wealth management options are there?
There are many different types of wealth management. Most advisors invest in stocks, but others also invest in real estate and still others in precious metals.
There are also a variety of investment vehicles, such as mutual funds and exchange traded funds. Each has its own risks and rewards.
It is important to consult with a financial advisor to determine which type of investment is best for you.
What types of Private Wealth Managers are available?
There are a variety of different types of private wealth managers. Some manage the money of wealthy individuals, while others manage the money of large corporations. There are also managers who specialize in certain types of investments, such as hedge funds or real estate. No matter what type of manager they are, these professionals have one thing in common: they all work to grow their clients’ wealth.
Some private wealth managers work for big financial firms (such as Merrill Lynch, Edward Jones, Vanguard, Russell Investments, Bank of America, and more). Others are independent financial advisors.
Private wealth managers typically have a great deal of experience in the financial industry, and they use their knowledge to create investment plans that will help their clients reach their financial goals. They also offer advice on issues such as estate planning and tax planning. In addition, they keep their clients up-to-date on the latest news and trends in the financial world.
Hiring a private wealth manager can be a great decision for those looking to maintain their wealth and strive to ensure its security. By working with a professional who understands the complexities of managing and preserving wealth, individuals can rest assured that their finances are in good hands.
In addition, a private wealth manager can provide valuable advice on how to grow one’s assets over time.
For these reasons, it is highly recommended that anyone with significant assets consult with a private wealth manager to help them achieve their financial goals.
Ashley Davis (or ‘Ash’ for short) is the CEO & Founder of Skyline Social. For over 15 years, he has been helping business owners with lead generation. Ash specializes in helping businesses get high-quality leads, appointments and clients each month in an automated, scalable and profitable way. You can watch his free Masterclass training to learn more.