opinion & commentary

Securing Ultra-High Net Worth Portfolios…

… in light of Federal Reserve & 2017 Trump administration policy changes

WALNUT CREEK, CA, December 21, 2016 /Marketwired/ — Pillar Wealth Management, LLC has published part 1 of a 2-part article advising ultra-high net worth investors on securing their portfolios in light of two concurrent shifts: rate changes by the Federal Reserve, and policy changes that will continue to be enacted throughout 2017 by the new Trump Administration.

Pillar Wealth Management LLC is a private wealth management firm to affluent families, including some that have attained wealth reaching $400 million.

The new article, which is available on the Pillar Wealth Management website, advises investors to apply big picture thinking and create an analyzed set of action steps to install protection mechanisms, and position themselves to potentially exploit an opportunity that may not present itself as attractively for years or decades.

The article further advises investors to ask a series of questions that are noted in the firm’s recently-published book The Art Of Protecting Ultra-High Net Worth Portfolios And Estates, Strategies For Families Worth $25 Million to $500 Million. These questions cover a variety of aspects, including wealth direction and objectives, the role of each investor’s family constitution, evaluating advisors, clarifying investment strategies, and more.

“We recommend that ultra-high net worth investors actually write down and document their answers,” comments the firm’s co-founder Haitham “Hutch” Ashoo. “This helps keep things clear and complete, and it also creates a reference that can be valuable for the family in the future. We also recommend that investors keep their appointment calendar open, so they can give themselves deadlines and tentatively schedule appointments with family members and advisors.”

Adds the firm’s co-founder Chris Snyder: “For investors, protecting their family’s wealth is an ongoing obligation, and it is not an easy task. It is necessary to make adjustments, and to take advantage of expertise from various disciplines, including wealth management, personal psychology, family dynamics, legal, accounting, finance, insurance, asset protection, business succession and philanthropy.”

Excerpts from the ‘Art of Protecting High Net Worth’

For investors who apply big picture thinking and create an analyzed set of action steps, these changes are an opportunity to install protection mechanisms; it will also be an opportunity, and one that may not present itself as attractively for years, or perhaps decades to come.

To assist investors with mapping a smart, safe and strategic path forward, we feature a series of targeted questions in our book “The Art Of Protecting Ultra-High Net Worth Portfolios And Estates, Strategies For Families Worth $25 Million to $500 Million”. We present part one of these questions below, and will list the remainder in a follow-up article.

We recommend that ultra-high net worth investors actually write down and document their answers.

We recommend that ultra-high net worth investors actually write down and document the answers. This helps with clarity, completeness, and serves as a reference that can be valuable for the whole family in the future. We also recommend that investors keep their appointment calendar open, so they can give themselves deadlines and tentatively schedule appointments with family members and advisors.

  • What does money mean to you? What do you want it to accomplish in your life? How does this intersect with your hopes, dreams, and plans for your family?
  • Do you already have a family constitution? If so, is it time for your family to review it, making revisions as needed and making sure your family truly understands the values outlined in the constitution? If you don’t have a constitution, when can you schedule a family meeting to begin the discussion? Who can you put in charge of making sure the discussions are fruitful and lead to the end product — a useful family constitution — within a reasonable amount of time?
  • Are you happy with your advisors? (we discuss this in depth in chapter 4 of our book). Are there any areas where your advisors are falling short? Are there some direct, proactive conversations you need to have with an advisor to make your expectations clear? Would you be better off replacing any of your advisors? If you have a Family Office, is it functioning the way you had hoped? Are there any areas that need improvement? If you don’t have a Family Office, is it time you considered setting one up? Or can your family’s needs be met in other ways (such as a cohesive, independent team)?
  • Do you have a clearly stated investment strategy? If not, when can you schedule a meeting with family members and the appropriate advisors to create one?

The full text of Pillar Wealth Management’s new article is available here.

 

 

 

About Pillar Wealth Management, LLC
Haitham “Hutch” Ashoo and Christopher Snyder are privileged to have worked with ultra-high net worth families, some of whom attained wealth reaching $400 million, helping them achieve a positive change in their lives and finances. They cofounded Pillar Wealth Management, LLC, an independent, fee based, private wealth management firm. As their clients’ go-to advisors, they are brought in to help with investment management, strategic planning, asset allocation, risk control, and tracking of their clients’ progress towards life-goals. Their services are provided to a limited number of clients. They only accept a new client when they have determined that there is mutual admiration and respect and only if they can add substantial value to the client’s financial life. Learn more here.