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Asset Preservation Advisors


State: GA

APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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High Net Worth Wealth Management--What Wealthy Investors Expect

What services do wealthy investors think should be included in a high net worth wealth management program?

| BY Donald Liebenson

Numerous financial firms provide “wealth management” services, but what does that term mean and what services do wealthy investors think should be included in a high net worth wealth management program?

According to the financial literacy website Investopedia, wealth management” is “a professional service which is the combination of financial/investment advice, accounting/tax services and legal/estate planning for one fee…It can encompass all parts of a person’s financial life.”

In considering the facets of their financial life, the highest percentage of wealthy investors (87 percent) believe that investment planning is the most important component of high net worth wealth management, according to a recent study conducted by Spectrem’s Millionaire Corner. This was followed by comprehensive financial planning (85 percent), tax information and advice (84 percent) and investment management (82 percent).

For more than three-fourths (77 percent) of wealthy investors, access to a wealth manager to assist with administrative tasks regarding their investments should also be included in high net worth wealth management.

More than six-in-ten believe it should include access to unique investment products (66 percent) and trustee information and advice (61 percent). Less than half of wealthy investors believe these services should include a checking of accounts (41 percent) and access to credit (38 percent).

Expectations for high net worth wealth management services do not vary significantly by gender, but nearly across the board, wealthy women investors are more adamant than men that these services should be included. For example, 90 percent of women surveyed said that investment planning should be offered in a high net worth wealth management program compared with 84 percent of men.

Tax planning and consultation has taken on increased importance to wealthy investors. Six years ago, in a previous Millionaire Corner study, 64 percent said this should be included in high net worth wealth management, compared with 84 percent in 2014.

One of the benefits of a high net worth wealth management program is that it makes wealthy investors feel financially confident. More than half of the wealthiest investors surveyed either “strongly agree” or “agree” that such a program increases their financial confidence.

About the Author

Donald Liebenson

Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.