The Financial Planning Process for High-Net Worth-Individuals

The term “high-net-worth” is often used in the financial services industry, yet it doesn’t have a precise meaning that is universally accepted. A HNW individual or family typically has liquid assets available to invest in excess of a certain amount, ranging from a low of $1 million to as much as $3 million or more. For some characterizations, the investor on the low end is also required to earn a minimum income, at least six figures. No matter the designation or the exact dollar amount of the investment portfolio, high-net-worth individuals require a specialized financial planning process.

The plan

As with even the most basic investor, having a plan in place is an essential first step. And while goals such as establishing a solid fund for emergencies, paying down debt, saving for retirement and paying off the mortgage are typically not concerns for the HNW individual, other issues become relevant.

The issues

The acquisition of wealth creates opportunities among which include:

  • Providing long-term financial security for spouse and children
  • Protecting assets from unnecessary risks 
  • Maximizing tax savings 
  • Creating family and charitable legacies 

In our experience, to achieve these goals, HNW individuals seek high visibility of portfolio composition and performance along with cutting edge investment methodology and technology.

The approach

The financial planning process is about assessing one’s current situation, identifying financial and lifestyle goals and creating a path that achieves those both in the short-term and long-term. This is not simply a one-and-done effort but rather, an ongoing process that continually monitors progress and readjusts to changing environments and personal situations. 

We understand the financial complexity of your life as a person of means. Many certainly have the capacity to manage their extensive portfolios, but do you have the time or do you want to spend the time required to make smart decisions? We have extensive experience working with high-net-worth individuals; please allow us the opportunity to explain how we can create a unique and specialized financial plan tailored to your needs. Contact us today.      



The information contained herein is based on internal research derived from various sources and does not purport to be statements of all material facts relating to the securities mentioned. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable. Opinions expressed herein are subject to change without notice.

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