top wealth managers

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Who Needs The Services Of Top Wealth Managers

The best investment companies employ many types of analysts and managers. The top wealth managers generally cater to wealthy, high net worth and ultra-high net worth individuals. High net worth classification starts at one million dollars in assets (excluding the value of ones home). Ultra-high starts at ten million dollars in assets. The need for wealth management services is definitely growing.

Wealth management firms offer comprehensive financial services that these high net worth clients would seek out. It does not mean that these financial services are not used by other individuals also; however, top wealth managers use different resources and strategies when working with wealthier clients. Rich people have more money to invest making it easier to offer high-end financial services, but they can also be more demanding, so there is a trade-off for wealth management and private banking firms.

Bernstein Global Wealth Management and Wells Fargo Private Bank are two large firms that understand the need their wealthier clients have for the services of top wealth managers.

Financial Services Offered By Top Wealth Mangers

  • Trustee Services
  • Offshore and partnership trusts
  • Estate planning
  • Wealth transfer services
  • Succession planning
  • Financial analysis and planning
  • Tax planning
  • Real estate management
  • Retirement plan management
  • Insurance
  • Long-range financial planning

Of course many of these financial services can be accessed through traditional banks and insurance and brokerage firms but wealth management firms offer these services from a broader perspective and more comprehensive level. They usually charge higher fees because the size of the portfolio is larger.