Financial Services for High-Net-Worth Individuals & How Does It Work?

December 8, 2023

Our financial services provide specialised financial management catering to high-net-worth individuals’ financial requirements. Financial services offer financial management that goes beyond conventional banking, breaking the boundaries drawn by traditional banks. It offers more personalised services and exclusive products that target only eligible customers with a qualifying amount of assets. Financial services offer extensive guidance, financial advisory, investment planning, risk management and compliance to the customers. In this blog, we’ll explore the intricacies of financial, discussing who can get benefit from it and how it works.

Who Needs Financial Services?

Any high-net-worth individual or business with investable assets in their possession needs a financial services to manage their finances in a streamlined way. The eligibility requirement for accessing financial services for high-net-worth individuals varies, but generally, financial services only cater to clients with a significant amount of wealth surpassing the particular threshold, which can extend to millions. The investable asset might include savings, bonds, stocks, mutual funds, real estate or any other liquid assets with a total worth above the eligible requirement for getting the financial services for high-net-worth individuals.

Aristocracies
Entrepreneurs
Executives
Celebrities
Business Owners
Land Owners

How Financial Services for High-Net-Worth Individuals Work?

These financial services are created specifically for high or ultra-high net worth to address the financial complexities that standard banking services may not be adequate for. In these services financial expertise meets exclusivity, providing a range of tailored services to elite clients. The extent of services offered varies, but some standard services and benefits offered are:

• Dedicated Relationship Manager

Elite clients with high net worth assets usually have complex financial situations like diverse and complicated investment plans that require personalised financial experts to deal with the issues directly. Therefore, most financial services provide a dedicated manager to the clients to guide them through financial and investment planning while taking care of compliance and risk management.

• Financial Advisory & Planning

Financial services enables you to plan your short-term and long-term financial goals effectively, and your dedicated financial advisor will also help you create a step-to-step roadmap to reach your goals. Gaining expert advice on financial planning can help you protect your assets and create a wealth plan that aligns with your goals.

• Investment Management

When it comes to growing one’s wealth, one should act prudently to get positive outcomes from one’s investments. Whether you’re trying to navigate through investment opportunities or you are an entrepreneur trying to expand your business, with access to exclusive financial services, you can do all that in one place. Most financial services offer detailed reviews of your financial goals and risk tolerance by a financial advisor responsible for managing the client’s investment portfolio. They leverage their expertise to make informed investment plans to help you generate returns while managing risks.

• Risk Management

Financial services extend to wealth protection and estate planning. This involves risk management strategies to safeguard your assets and transfer wealth efficiently to the legal heirs. Risk management is done efficiently by your dedicated manager, who uses their expertise to manage everything, taking care of your wealth’s tax implications and legal complexities.

Fee Structure:

Just like qualifying criteria and services, fee structure also varies for each service provider. There are two types of fee structures offered:

• Fixed Fee

Some have a fixed fee structure and offer a specific rate, like a maintenance fee for other types of accounts.

• Sliding Fee

However, some have a sliding fee structure, where they charge a certain percentage of the assets under management (AUM) as a fee for services.

If you have an eligible amount of investable asset and are looking for an easy financial management solution, then a financial services for high-net-worth individuals is for you. Find a reliable service provider that offers financial management and enjoy the perks of expert advisory, access to investment opportunities and stress-free risk management.

Wirewand Financial Services

As financial experts, we understand your requirements and provide you with the comfort you need. We offer access to financial services for individuals and businesses with financial advisor, convenient digital banking so you can stay connected to your finances and expert advisory for informed decisions.

We are proud to be connected with a number of influential clients, hardworking entrepreneurs and ambitious business owners, helping them at every step towards their financial goals with our effortless and flexible services. Get started with your own personalised or business financial services and explore the opportunities to achieve more and flourish your business.