Wealth Planning: What Is Private Wealth Management? Why Does It Matter?

The world of private wealth management is so important to people just like you — high-net-worth individuals and their families, and those who are quickly becoming wealthier. There are a lot of moving parts involved in managing high-value estates, businesses, assets, and portfolios, and it’s far too common for predators and pretenders to look for ways to exploit you and your family.

That’s why we feel it’s important to go over exactly what private wealth management is and why it matters so much to those with high-net-worth. Read on to find out everything you need to know.

What is Private Wealth Management?

For many. there are eight primary types of planning strategies that financial advisors in private wealth management use. Understanding what these strategies are and what they involve will help you understand private wealth management and if it suits you. Let’s dive a little deeper:

Income Tax Planning

  • Income tax planning typically revolves around mitigating taxes on any money that a client has earned while working or through any investments they’ve made. For example, in private wealth management, a wealth advisor may recommend strategies and changes in your portfolio, and in turn, reduce the rate of income tax.

Generational and Estate Planning

  • In essence, estate planning is when estate planners and financial professionals decide how and by whom assets will be owned in the future. This is done using legal strategies and various financial solutions. The key here is that both professions are integrated and working together rather than independently.

Marital Planning

  • Marital planning (which can include other similar relations) is when we plan ahead for any fall-outs between spouses and family members. The main goal of this is to protect a client’s wealth and assets.

Business Succession Planning

When it comes to transitioning the business into someone else’s hands, business succession planning comes into play. This is done in tax-efficient ways to save clients and their families a big tax bill.

Asset Protection Planning

  • Asset protection planning is there to make sure that a client’s money is never unfairly taken away. Financial professionals do this using clear and legal strategies, concepts, and financial solutions so that the client always knows exactly what’s going on.

Charitable Tax Planning

  • Some clients enjoy generously donating to charity. Charitable tax planning helps these individuals by providing recommendations and strategies to not only give back to the community but also gain tax benefits in the process.

Cross-border and Inbound Planning

  • When a client has businesses in different countries or is planning to move abroad, things can get tricky. A private wealth management will research international tax laws to help the client pay as little tax as possible.

Life Management Planning

  • Life management planning is a popular strategy. When it comes to planning a client’s wealth, we want it to last a lifetime. With Confidence Wealth Management, we will go over everything and face any worries head-on.

Many of these strategies are intertwined and used side by side by our wealth advisors. For example, when deciding on assets for estate planning, we may also find ourselves presented with the chance to work on asset protection. Similarly, estate planning is often very closely related to business succession planning. Looking at the above strategies, it’s pretty clear that private wealth management, above all, is designed to help clients meet their financial wants, needs, and goals.

Why Does Private Wealth Management Matter?

So, what is it that truly makes private wealth management different, you ask?

Their focus. Private wealth management focuses on the human element of the situation — You! — rather than just the strategies and financial solutions.

The Human Element

One of the main goals in Private Wealth Management is to understand each of their clients on a deep, personal level — a level that goes way beyond just the numbers.

How does this differ from the technically skilled financial advisors out there in the world?

Well, there’s quite a contrast. These financial advisors tend to focus on the mass financial products. It doesn’t offer the same level of personal relationship and understanding that an a private wealth manager will share with you.

As private wealth advisors, we believe that the human element is the most important aspect to consider. Everything we do revolves around you, the client, and you must be considered at all times and with any decision made. Our mission is to match up all of our technical solutions and capabilities with whatever it is that you specifically want or need as a person, not chuck decisions at your head without any involvement or consideration.

More often than not, a standard financial advisor overlook the human element in the race to prove their financial and legal expertise. On the other hand, we believe that you can’t get meaningful results without truly understanding a person at their core. Over time, we work to build up a relationship of trust, familiarity, and security, working together to help meet your financial and personal needs and goals. This is exactly why Private Wealth Management matters.

Be Wary

Keeping the above in mind, it’s so important to keep a watchful eye out for financial advisors and wealth planners with the wrong intentions.

There are those who pretend and can’t keep up with their promises, possibly not recognizing their own limitations. There are predators who set out to cheat clients out of their money by promoting solutions that are simply far too good to be true, and there are those who aim to exploit wealthy individuals — their eyes more focused on a stack of cash than doing their job correctly.

Private Wealth Management is Right for You

Chances are, you didn’t get to where you are today by sitting on your hands or twiddling your thumbs. Apply your drive and foresight to planning for your future and managing your wealth proactively.

Request a 15-minute call or call us at (310) 820-4411 to learn more about how you can benefit from private wealth management. We’re here for you.

Confidence Wealth Management team





© 2024 Confidence Wealth Management LLC. All rights reserved.

Investment Advisory Services offered through Confidence Wealth Management LLC, an SEC registered investment adviser. Confidence Wealth Management LLC (CWM) and Confidence Wealth & Insurance Solutions LLC (CWIS) are two separate affiliated companies. All investment advisory services are provided by CWM. All insurance products and services are provided by CWIS. CWIS does not provide any investment advisory services. CWM does not sell any insurance products. For complete information regarding Confidence Wealth Management’s services and fees, please review our Form ADV Part 2A Disclosure Brochure, which can be found at adviserinfo.sec.gov or requested by calling us at (310) 824-1000. Information provided herein reflect Confidence Wealth Management’s views as of the creation date. Such views are subject to change without notice. Information provided herein is for informational purposes only and should not be considered investment advice or a recommendation to buy or sell any securities. No investment decision should be made based solely on any information provided herein. Confidence Wealth Management has not taken into account the investment objectives, financial situation or particular needs of any individual investor. There is a risk of loss from an investment in securities, including the risk of loss of principal. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular investor’s financial situation or risk tolerance. Asset allocation and portfolio diversification cannot assure or guarantee better performance and cannot eliminate the risk of investment losses. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. This is designed to provide general information on the subjects covered. Pursuant to its circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that the information given does not give legal or tax advice. Should you have any tax or legal questions, you are encouraged to consult your tax advisor or attorney for any tax or legal matters. Not affiliated with the U.S. Government or any governmental agency.

Terms of Use  |  Privacy Policy

Confidence Wealth Management LLC (CWM) is an SEC registered investment adviser. Confidence Wealth & Insurance Solutions LLC (CWIS) is licensed under the NV Department of Insurance, license no. 3647322. CWM and CWIS are two separate affiliated companies. All investment advisory services are provided by CWM and all insurance products and services are provided by CWIS. CWIS does not provide any investment advisory services and CWM does not provide insurance services. CWM and CWIS have no affiliation with government, state, or local agencies. Consult with an attorney or CPA for usage of tax or legal concepts. This material may contain information that are close approximation to the totality of information available to us and not necessarily specific within regards to one situation or another. Some opinions and statements are informational. They are not investment advice as they may not be complete in terms of all details needed to affect an action you wish to undertake, investment strategy or plan. Pursuant to IRS Circular 230, the material is not intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. No estimates used are a promise of return. Also, many opinions are summaries and may not reflect all pertinent facts relevant to you. Any information given is to be considered general, and nothing said herein should be used as a basis for investment decision unless you consult with your Confidence Wealth advisor that can understand your unique situation and give you a customized solution with a complete disclosure. Past performance does not indicate future results. As you know, no one can predict the future. Thus, any forecast in this material is intended strictly as a possible future outlook and not a statement of fact as there could be any scenarios that are not in your favor when making a decision. You must examine all adverse and negative implications on any forecast when made. All information is based on the date of the material and may not be valid, may change, and/or may not be true any longer as time passes. Also, the Form ADV Part 2A for CWM contains detailed disclosures regarding our services and fees, along with applicable conflicts and how we address such conflicts. A copy of our Form ADV can be obtained by calling (310) 824-1000.

Taxes in Retirement guide


The Guide to Taxes and Your Retirement