Are you finding banking to be unsuited to your financial needs? Are you a high net worth individual, a business, or a family with significant assets and financial issues that outstrip the resources of your local financial institution? Branch banks and stock brokers cannot always handle these large, complex cases, and not everyone can fly to Switzerland. There have to be better options available. There are.
Unusual wealth requires unusual measures to handle appropriately. Banks and other major institutions use set rules for account management which is a one size fits all approach. Individuals, families, and businesses possessed of particularly large stores of wealth may benefit greatly from private wealth management advisors, which can devote significant personal attention to financial matters ranging from estate planning, investing portfolios, land management, and a bevy of other related financial services that would normally require several different institutions to handle. The financial background necessary to fill these roles is widely available. These managers can be certified financial planners, MBAs, or chartered strategic wealth professionals. If you are in a position to inherit a significant sum, inheritance tax planning can get you started with this form of private banking before you come into your assets, easing the transition into becoming a high net worth individual.
It is a simple thing to consolidate your wealth and affairs. Many people do not think of it because they are accustomed to dealing with companies that manage monetary issues, but once a significant net worth has been achieved, all the rules change. Private oversight pulls all of your business under one roof and one purview, simplifying related things that are normally kept at arm’s length, and reducing confirmations and communications between disparate controlling entities. They are an option to be considered by those in possession or nearly in possession of great wealth.