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As your net worth rises, so does the complexity of managing your financial life. Affluent clients with millions in assets shouldn’t trust their wealth management to anyone. You need to work with an investment manager who understands how to handle the size and complexity of portfolios like yours. At Griggs Wealth Management, we can do just that.
We specialize in working with high net worth individuals and handling large portfolios with a wide variety of asset types. We understand the unique needs that come from having a high net worth, and can help you to effectively manage your investments to meet those needs.
Some people may assume that having a high net worth means that you can take bigger risks with your investments. While a large loss may not have as big of an impact on an affluent client as those with fewer assets, unnecessary risk can still be detrimental to your wealth growth strategy. High net worth investment management still requires careful balancing of low-risk and high-risk assets in order to protect existing wealth and promote long-term growth. In fact, with a larger amount to invest, those lower-risk investments can pay out much larger dividends over time, making high-risk investments less necessary to meet your wealth goals.
At Griggs Wealth Management, we can work with you to determine the right balance of investments for your risk tolerance, time horizon, and net worth.
For high net worth individuals, taxes are often the largest expense associated with their investment income. Minimizing those taxes is an essential part of protecting and growing your wealth. At Griggs Wealth Management, we take a tax-smart approach to investing, considering the tax implications of every financial move we recommend. We examine your tax situation throughout the year—not just during tax season—so that you can properly plan for your taxes and find strategies to minimize your tax liability.
From cashing out losing investments to gifting stocks, Griggs Wealth Management can help you find investment options and financial strategies that allow you to keep more money in your pocket. When it comes to wealth management, what you keep is just as important as what you earn.
Investing as a high net worth individual can be much more complex than your typical investment approach. We’ve answered some common questions about high net worth investing below. If you have any additional questions, please reach out to Griggs Wealth Management today.
Like most investment managers, Griggs Wealth Management operates under an AUM (assets under management) fee structure. Our fee is a percentage of the total value of the assets we manage for you. So, while the percentage we charge may not change simply because you are a high net worth client, the final cost will typically be higher for managing larger portfolios.
To mitigate investment risk, we recommend keeping your portfolio diversified. As your investment managers, we regularly review and balance the assets in your investment accounts, keeping them within your risk tolerance window. We also analyze the performance of those assets and take action accordingly.
While the basic principles of investing apply regardless of whether you’re a high net worth investor or not, large portfolios do have some unique factors associated with them. Additional investment options may be available to you due to your portfolio’s size, such as private investment options, real estate, and venture capital funds. With more options to explore, it’s important to have the guidance and support of an experienced investment advisor who has handled high net worth clients.
At Griggs Wealth Management, we consider the tax implications of every investment. While large returns on your investments are exciting, they do come with high taxes. We can utilize a variety of tax strategies to minimize your tax liability. The exact strategy we use will depend on your tax bracket, the assets you invest in, and your personal goals. Speak with one of our advisors to learn more about tax-effective investment strategies.
Don’t trust your portfolio to any investment advisor. The investment managers here at Griggs Wealth Management, we specialize in working with high net worth individuals like you. Contact us today to see how we can help you protect, preserve, and grow your wealth.