Disclaimer: The information in this article is NOT financial advice and is for informational purposes only. Always do your own research and speak to a registered financial advisor before making any important financial decisions.

Choosing a financial advisor specializing in private wealth management is one of the most important decisions an individual entering or already in retirement can make.

But with so many investment advisors and wealth management firms, how can you be sure you’re choosing the best financial advisor?

In this article, we’ll share some advice on how to find the best private wealth managers based on:

  • Experience
  • Care
  • Fees
  • Results

Keep in mind that before working with a wealth manager, it’s important always to do your due diligence, have multiple meetings to get to know them and be sure to check them out on BrokerCheck.org by Finra

Our Pick

Speak To A Private Wealth Manager


Get matched with an independent private wealth manager who focuses on helping you with your unique needs, wants and goals in retirement.

  • Grow & protect your wealth
  • Independent advice
  • Complimentary advice
  • No pressure or obligation
  • No need to share any sensitive info

If you’re looking for wealth management firms from larger organizations, such as banks, here are some popular options:

  • Vanguard personal advisor services
  • Charles Schwab
  • Morgan Stanley
  • UBS
  • Bank of America

However, if you’re looking to work with an independent wealth manager who can offer products and solutions from a variety of companies, then fill in the form here.

What are the best wealth management firms?

Successful financial advisor

The word “Best” is subjective, so we recommend interviewing and finding an advisor who matches your personality and retirement goals.

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.

What is private wealth management?

Investing on the stock market

Private wealth management is essential for high-net-worth individuals and families with a net worth at least $100,000 in investable assets under management.

Most wealth management firms work with individuals and families with over $500,000, $1 Million or more in investable assets.

By working with a qualified wealth management company, clients can benefit from a coordinated and customized approach to managing their financial life.

Wealth managers can help clients:

  • Grow your wealth
  • Avoid losing money in retirement
  • Minimize taxes & build wealth tax-free
  • Advise you on when to time withdrawals
  • Asset allocation
  • Insurance

And more!

Wealth managers typically require a significant amount of information from their clients to provide the best possible service.

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 affluent clientele’s information.

How to choose the right wealth management firm

Speaking with a wealth advisor

The best private wealth management firm are firms with individual private wealth managers with a long history of success with client assets and a proven track record of helping clients reach their financial goals.

They offer comprehensive services, including investment, retirement, and estate planning.

And they take the time to get to know their clients, understanding their unique needs and preferences.

When choosing a wealth management firm, look for firms that have experience working with and understanding the specific needs of their clients.

The ideal wealth management firm should have an in-depth knowledge of the financial markets and should be able to provide customized solutions tailored to each client’s unique requirements.

They should also offer various services, such as investment advice, retirement planning, and estate planning.

What types of wealth management options are there?

Financial report

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 for investing in, such as mutual funds and exchange-traded funds. Each has its 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?

Retirement plan

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. Some managers specialize in certain types of investments, such as hedge funds or real estate.

No matter their manager type, these professionals share one thing: 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 much experience in the financial industry and use their knowledge to create investment plans to 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.

What are the benefits of hiring a wealth manager?

Hiring a wealth manager can provide numerous benefits for individuals looking to maximize their net worth. Access to exclusive investment opportunities not available to the general public is one of the primary advantages.

Wealth managers can draw upon resources and data that may be out of reach for private investors, enabling them to make more educated decisions concerning where and how they put their funds.

Another benefit of hiring a wealth manager is reduced stress associated with managing finances alone. A qualified professional can take on many burdensome financial management tasks such as budgeting, tracking investments, tax planning, estate planning, and more.

Wealthy institutional clients can experience a sense of ease, realizing their funds are in capable hands and freeing up space to focus on other activities like business operations or quality time with loved ones.

Utilizing a wealth manager’s expertise assures you that financial decisions will be based on sound advice rather than guesswork or intuition, especially during market turbulence or economic instability when so much is at stake.

With their in-depth knowledge and tailored plans crafted to fit your particular goals and requirements, you can be confident that your finances are managed by experienced professionals – leaving more time for other pursuits like running a business or spending quality moments with family.

What to consider when working with top wealth management firms

Finding the right wealth manager is essential to achieve your wealth management goals.

When deciding on a financial advisor, it’s crucial to consider your monetary allowance, the services you require from them, and if virtual or physical guidance is favored.

Determine your budget before selecting a wealth manager. Before engaging with a financial advisor, it’s important to understand how much you can afford to spend on their services. This will help narrow the list of potential wealth advisors who fit your price range and provide the best value for money.

Many wealth advisors also operate on a percentage based of total assets under management (AUM). Others offer hybrid services, such as wealth management and insurance products such as Indexed Universal Life.

Decide what specific services you need from an advisor.

Different advisors offer different types of advice and assistance when managing finances and investments.

Consider whether you prefer in-person or online advice when making your selection.

Some high-net-worth clients may have preferences regarding receiving professional advice – some may prefer face-to-face meetings. In contrast, others may be more comfortable with digital communication platforms such as Skype or Zoom calls for convenience.

It’s important to consider this when looking at prospective wealth managers or financial advisors so that they can provide the type of service that best suits individual needs and preferences.

Before bringing on a wealth manager, business owners should consider various factors to ensure they have selected the ideal individual who will aid them in achieving their financial objectives effectively and expeditiously.

Finding the right advisor is critical to meeting your wealth management needs.

Now, it is time to comprehend the interplay between individual finances and corporate funds for devising tailored strategies for both short-term requirements and long-term goals.


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.

If you’re a financial advisor looking for leads, check out our annuity leads and wealth management lead generation resources.