How to make smart financial decisions to preserve and increase wealth? Well, some people find the answer by investing in different projects and learning from making profits and suffering losses. Others choose fundamental academic programs in Investments & Wealth Management to study the financial landscape and the laws of conquering market volatility. Nevertheless, there are those who prefer to turn to professionals who have made their careers helping wealthy people manage their capital.
If you prefer a professional and responsible approach to any business, consulting with wealth management companies will help you find the best solution to increase your wealth.
Why Wealth Management Consulting Is More Effective Than Investment Consulting
The market of financial advisory services offers different models for capital management consulting. Every wealthy family can choose an option that suits its goals and needs. The most common models are the following:
- Wealth management consulting — a comprehensive model that covers all the needs of wealthy families.
- Investment consulting — a narrower model focused on creating and managing an investment portfolio.
The comparison of the key differences between these models demonstrates why wealth management companies are the best solution.
| Type of the Company | Wealth Management Consulting | Investment Consulting |
|---|---|---|
| Mission | Devising financial solutions tailored to clients’ goals | Offering investment-oriented products |
| Priorities | Long-range financial goals of a client | Income from investable assets |
| Range of Services | Investment consultingEstate and tax planningInsurance consultingRetirement planningAccount monitoringPhilanthropy planning, etc | Setting investment goalsDetermining risk toleranceBuilding investment portfolioRebalancing portfolio |
| Approach to developing a financial solution | Holistic | Profit oriented |
| Relationships | Based on trust and a comprehensive understanding of the client’s needs | Based on mutual benefit |
Thus, if the needs of a wealthy family are diverse and focus not only on investments, it is better for them to give preference to wealth management consulting companies. This type of advisory firm is especially rewarding for multi-generational families, where each generation has its own financial goals and needs. In this case, the wealth management company develops a balanced, comprehensive solution that suits all family members.
Best Companies in the Financial Advisory Services Market
If you have several thousand dollars of investable assets, you can take a risk and contact any financial advisory company to develop a profitable solution. But if the question is about disposing of millions of dollars, you should not risk such an amount of money. It is better to choose companies to which other wealthy families have entrusted their capital for many years. Below are top companies that have earned their reputation for high professionalism and impeccable moral qualities.
Certuity
Certuity is one of the most experienced companies developing wealth management strategies for affluent families. It has been offering its services since 2012. During this time it has gained appreciation and a high reputation among wealthy clients. Its multi-professional team includes specialists in business, finance, law, management, and other areas necessary for effective wealth management. The company promotes dynamic wealth management strategies that are most relevant to our day’s rapidly changing financial landscape. Among the company’s services, the following are in greatest demand among clients:
- Creation of an investment portfolio tailored to the client’s needs;
- Ensuring access to profitable investment opportunities including alternative investments;
- Evaluation of alternative insurance coverage plans;
- Estate and tax planning;
- Consolidated account monitoring, etc.
BNP Paribas Wealth Management
BNP Paribas Wealth Management is a subdivision of an international company that operates in 17 countries. If you are focused on placing your capital on global markets, take advantage of its expertise. The company’s headquarters are located in Paris, France, but it serves citizens not only in Europe and Asia but also in the United States. BNP Paribas US is one of the most important nodes of this multinational company, providing financial advisory services to wealthy families.
UBS Wealth Management
If you want advice from one of the world’s most trusted financial institutions, turn to UBS Wealth Management. Today, many companies are moving towards AI-based systems to provide financial advisory services. But UBS Wealth Management stays true to tradition, so you’ll receive excellent service and sound advice from a human professional. And this policy of UBS is not accidental. As experts involved in AI/ML-based decisions in the financial sphere note, advice from AI could potentially be biased and, therefore, include risks that the consulting company is not ready to take.
J.P.Morgan Private Bank
J.P. Morgan Private Bank has a history of more than 200 years, which helps it to stay one of the leaders in wealth management. The company offers innovative solutions tailored to each client. Its significant infrastructural and intellectual potential allows for thorough market analysis and identification of all potential risks.
Morgan Stanley’s Private Wealth Management Group
Morgan Stanley also has a division that focuses on wealth management. It assists exclusively affluent families, so becoming its client is financially profitable and prestigious. An important advantage of the company is that it operates in all 50 states and is easily accessible for in-person visits.
Alternative Model of Financial Advisory Services
In recent years, an OCIO (Outsourced Chief Investment Officer) model has become widespread for wealth management. It offers services to various organizations, institutions, firms, wealthy families, and sophisticated investors. An example of a highly rated and experienced company providing OCIO services is Certuity. It offers a personalized approach based on the client’s need for certain advisory functions. Therefore, OCIO can be an excellent modern alternative to other financial advisory models.
If you want to know the secrets of increasing wealth, contact companies that effectively help rich families. An innovative and proactive approach to wealth management from the best financial advisory firms will bring stability, growth, and new exciting perspectives into your life.