WALNUT CREEK, CA--(Marketwired - August 10, 2016) - Pillar Wealth Management, LLC, a private wealth management firm to affluent families, including some that have attained wealth reaching $400 million, has published an insightful and thought-provoking new article that explores the nature of ultra-high net worth families.
The new article, which is available on the firm's website, highlights 4 key stages that ultra-high net worth families typically encounter on their journey to stable and growing affluence. The insights are gleaned from the firm's recently-published book The Art Of Protecting Ultra-High Net Worth Portfolios And Estates, Strategies For Families Worth $25 Million to $500 Million.
The first stage, accomplishment, is characterized by a sense of well-earned achievements. Investors believe that they can live however they wish for the rest of their lives, without having to worry about financial obstacles or generating additional wealth.
The second stage, obligation, is characterized by a growing anxiety and unease. Investors recognize that while it can take decades or generations to generate wealth, it can disappear rapidly. Questions begin to emerge about securing wealth, and ensuring that it doesn't erode due mismanagement or mistakes.
The third stage, establishing, is characterized by a renewed confidence as investors reach out to experts and top minds who provide the insights, answers and advice they need.
The fourth stage, purpose, is characterized by the profound awareness that substantial wealth is not an end unto itself, but an opportunity to make a lasting, positive change in the family, the community, or may be to support a worthy foundation.
"Every person wants and needs to feel a sense of purpose, because that is the only way to truly experience joy and satisfaction," writes the firm's co-founder Haitham "Hutch" Ashoo. "And most often, this sense of purpose is not about helping oneself -- it is about helping others."
The article further points out that ultra-high net worth investors often harbor a deep fear of loss; especially if they can recall days when their parents were struggling to make ends meet, or if they simply switch on the news or glance at a newspaper and learn about the latest family that went from "riches to rags". Overcoming this fear and ensuring that their financial good fortune lasts for generations requires three things:
- A customized wealth management strategy that blends long-term growth, limited volatility, and relative safety.
- A clear understanding of what they own, and what they should consider tweaking for the future.
- Information "at their fingertips" so they are not on the outside looking in when it comes to protecting and managing their wealth.
Adds Ashoo: "When they obtain these key requirements, ultra-high net worth families protect their wealth and ensure that it is utilized for the good of their family. We explore all of these stages and strategies in much greater detail in our book."
The full text of Pillar Wealth Management's new article is available at: http://pillarwm.com/exploring-the-nature-of-ultra-high-net-worth-families.
About Pillar Wealth Management, LLC
Haitham "Hutch" Ashoo and Christopher Snyder are privileged to have worked with ultra-high net worth families, some of whom attained wealth reaching $400 million, helping them achieve a positive change in their lives and finances. They cofounded Pillar Wealth Management, LLC, an independent, fee based, private wealth management firm. As their clients' go-to advisors, they are brought in to help with investment management, strategic planning, asset allocation, risk control, and tracking of their clients' progress towards life-goals. Their services are provided to a limited number of clients. They only accept a new client when they have determined that there is mutual admiration and respect and only if they can add substantial value to the client's financial life. Learn more at http://pillarwm.com.