How Financial Planners Can Help High-Net-Worth Individuals

How Financial Planners Can Help High-Net-Worth Individuals

Unlike average investors, high-net-worth individuals often utilize accumulated assets and a constant income stream to pay for future expenses.

Everyone has specific goals they wish to achieve. From buying a home, getting married, saving up for our child’s education, lowering our tax burden, and building a large retirement corpus. To do all these things, you need a carefully crafted financial plan. Unlike average investors, high-net-worth individuals often utilize accumulated assets and a constant income stream to pay for future expenses. Given the challenging nature of their investment portfolios, these individuals require assistance from experienced financial planners, like Baltimore-Washington Financial Advisors, who understand their unique situations. Read on to learn how we can help you with your financial planning!

Estate Planning

Life is uncertain; a sudden illness or death could strike at any moment. To ensure your wealth benefits loved ones, you should prepare your estate and determine how to distribute your assets. Estate planning for high-net-worth individuals is important since recent developments might have made some existing strategies ineffective. If you don’t update your estate planning strategies as regulations change, you risk shortchanging your beneficiaries when they inherit your wealth. Estate planning not only provides for your beneficiaries, but it also provides peace of mind for you. The team of certified financial planners (CFP) at Baltimore-Washington Financial Advisors helps you navigate different aspects of the estate planning process, from drafting wills and trusts to assigning health care proxies and other durable powers of attorney. We help clients prepare for possible life scenarios.

Retirement Planning

While everyone must plan for retirement, the process looks slightly different for high-net-worth individuals. A trusted financial planner from Baltimore-Washington Financial Advisors can offer insights into improving your retirement plan. We’ll look at your expenses, revenue, and lifestyle to determine the best action for achieving the retirement of your dreams. We recognize the nuances high-net-worth individuals face with retirement planning. Using a well-constructed process, we will examine your financial information from different perspectives and develop a custom strategy for your retirement. 

Income Tax Planning Services

As high-net-worth individuals have higher incomes, that means higher taxes. Our team strives to ensure that clients pay what is required by law but not more than necessary. Our team of financial advisors can evaluate your current financial profile and suggest steps you could take to reduce your taxes.

To learn how Baltimore-Washington Financial Advisors, a fee-only fiduciary, can help you with tax planning, contact us today!

For All Types of Financial Services, Contact Baltimore-Washington Financial Advisors Today!

Baltimore-Washington Financial Advisors is a nationally recognized Fee-Only and Fiduciary wealth management firm, providing comprehensive wealth management since 1986. We integrate investment management, retirement and estate planning, and tax services so you can relax knowing your money is safe. We serve clients throughout the Mid-Atlantic, nationally, and specifically in Annapolis, Baltimore, Ellicott City, Hunt Valley, Catonsville, Pikesville, Bethesda, Columbia, Rockville, Gaithersburg, and more! We’re here to provide you with the best services and advice when you need it. For more information on how we can help, visit our website, or call 410-461-3900!