High-net-worth individuals and households often need more sophisticated and tailored wealth management expertise.
Terms such as high-net-worth (HNW), very-high-net-worth (VHNW), and ultra-high-net-worth (UHNW) show up in a growing number of wealth advisor-related news articles, advertisements, and marketing materials. More than just shorthand descriptors of a household’s financial assets, these terms also allude to the greater depth, breadth, and sophistication of financial advisory needs that often arise as individual or family wealth grows.
We’ve compiled this short Q&A to help shed light on specialized services and expertise one should expect from a qualified wealth advisor when assets surpass the high-net-worth threshold.
An individual’s net worth comprises financial assets such as property, land, stocks, and bonds; minus debts and/or liabilities. More specifically, financial services providers regard a HNW client as someone whose portfolio includes at least $1 million in liquid—or investable—financial assets. From there, clients with between $5-$30 million are considered VHNW, while UHNW clients have assets greater than $30 million in their portfolio.
Here are three desirable realms of knowledge and expertise:
Mercer Advisors is among the wealth management firms that offer a dedicated, extended network of premium services and resources specifically tailored to the needs of VHNW and UHNW households.
The financial stakes involved can quickly exceed what most people feel equipped to manage on their own at these asset levels. In weighing a decision, consider three facets:
Unless your answer to these questions is an unreserved “yes,” then you should probably consider hiring an advisor to help you achieve loftier goals and strengthen your legacy through a holistic, personalized approach.
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