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When To Leave Your FA for An UHNW Advisor

Most investors seek out a financial advisor when they reach a specific milestone or income event and begin to lose confidence in their ability to manage a more complex financial picture themselves. From managing wealth to designing strategies for legacy-creation and estate planning, the burden of staying on top of these important, yet disparate, pieces of a financial picture can quickly become overwhelming. Just as you may outgrow your ability to effectively manage your finances, as you continue to accrue wealth and become an Ultra High Net Worth (UHNW) client with over $10 million in investable assets, you should consider whether you have outgrown the capabilities of your financial advisor. Here’s what you should consider when determining whether you should leave your Financial Advisor for an Ultra High Net Worth Wealth Manager.

5 Questions To Ask When Considering Leaving Your Financial Advisor

Here are a few questions to consider when evaluating whether you need the services of an Ultra High Net Worth Wealth Manager.

Is your Financial Advisor UHNW him or herself? 

If the answer to this question is no, it is doubtful that they would be able to fully comprehend the nuances of managing Ultra High Net Worth wealth. High Net Worth and Ultra High Net Worth are not the same; an Ultra High Net Worth Wealth Manager is living in the same reality as their UHNW clients and lives with the same concerns, including safety of principle, increased risk-aversion, expectations for future returns, and legacy-creation. When you ask them what they would do your shoes, they should be able to answer – because they are.

Is your Financial Advisor Under or Over-Communicating?

You are busy. If you had time to manage every nuance of your wealth strategy, you would. Your Financial Advisor should be able to balance your desire for high-quality insights and credible information without fatiguing you. This is where an UHNW Wealth Manager’s unwavering focus on defining and executing your hyper-customized strategy gives you the confidence to let them differentiate between what you want to be involved with and what you want handled.

How Protected Are Your Assets?

Most Financial Advisors aren’t able to offer or include asset protection in off-shore accounts. A UHNW Wealth Management Group needs to be able to offer this for their clients. At Weber Global Management, we specialize in working with Swiss banks and can get our UHNW clients set up with the accounts they need to ensure their assets are protected.

Is Your Financial Plan Unique To You?

If you’re not working with an Ultra High Net Worth Wealth Manager, we can guarantee it isn’t. Despite their claims, so many asset managers employ batch or blanket allocations in their strategy for their clients. It’s critical that the approach to every UHNW client be designed individually to ensure the solution is tailored to their situation and goals.

Does Your Financial Advisor Know What Keeps You Up At Night?

At the end of the day, you can look at every projection and statistic on earth and still not have a good feeling about the firm or advisor you’re working with. If that’s the case, you need to listen to that instinct. Trust takes time to develop and is formed by consistent, open communication and strong results. As UHNW Wealth Managers, we understand what our clients are afraid of, what their goals are for their lifetime, and what kind of legacy they want to leave. These are financial conversations, but they’re also personal conversations. It’s a privilege to be trusted with this information and, as a client, you should feel that your wealth manager sees this.

Invest With Confidence

Weber Global Management combines the expertise of industry veteran investors Chris Weber and Briton Hill to provide customized, watertight investment strategies and a white glove customer experience for Ultra High Net Worth clients. If you’re seeking a premiere Ultra High Net Worth Wealth Management experience, reach out to our investor relations team, https://weberglobal.com.